U.S.: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in the U.S.

The U.S. worked wax articles market skyrocketed to $X in 2022, with an increase of 22% against the previous year. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +140.6% against 2016 indices. Worked wax articles consumption peaked in 2022 and is expected to retain growth in years to come.

Worked Wax Articles Production in the U.S.

In value terms, worked wax articles production skyrocketed to $X in 2022. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 119% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Worked Wax Articles Exports

Exports from the U.S.

In 2022, overseas shipments of worked articles of wax increased by 2.7% to X units, rising for the third year in a row after three years of decline. In general, exports showed buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 71% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, worked wax articles exports expanded to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 17% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X units), Brazil (X units) and Canada (X units) were the main destinations of worked wax articles exports from the United States, with a combined 74% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +16.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for worked wax articles exported from the United States were Canada ($X), Mexico ($X) and Brazil ($X), with a combined 71% share of total exports.

Mexico, with a CAGR of +5.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average worked wax articles export price stood at $X per thousand units in 2022, remaining stable against the previous year. In general, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by 31% against the previous year. The export price peaked at $X per thousand units in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per thousand units), while the average price for exports to Brazil ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-2.2%), while the prices for the other major destinations experienced a decline.

Worked Wax Articles Imports

Imports into the U.S.

For the fourth consecutive year, the United States recorded growth in purchases abroad of worked articles of wax, which increased by 5.7% to X units in 2022. In general, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by 43%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, worked wax articles imports expanded remarkably to $X in 2022. Over the period under review, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X units), India (X units) and Mexico (X units) were the main suppliers of worked wax articles imports to the United States, with a combined 63% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +23.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Mexico ($X) constituted the largest worked wax articles suppliers to the United States, with a combined 63% share of total imports.

China, with a CAGR of +20.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average worked wax articles import price stood at $X per thousand units in 2022, picking up by 8.3% against the previous year. Overall, the import price, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 an increase of 17%. The import price peaked at $X per thousand units in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($X per thousand units) and China ($X per thousand units), while the price for Vietnam ($X per thousand units) and India ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :