Ukraine: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Ukraine

In 2022, the Ukrainian worked wax articles market decreased by -0.7% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, saw a noticeable descent. Worked wax articles consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Worked Wax Articles Production in Ukraine

In value terms, worked wax articles production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 6.9% against the previous year. Worked wax articles production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Worked Wax Articles Exports

Exports from Ukraine

After two years of growth, overseas shipments of worked articles of wax decreased by -38.3% to X units in 2022. Overall, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 117% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, worked wax articles exports shrank sharply to $X in 2022. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2013 with an increase of 757% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Moldova (X units) was the main destination for worked wax articles exports from Ukraine, accounting for a 40% share of total exports. Moreover, worked wax articles exports to Moldova exceeded the volume sent to the second major destination, China (X units), twofold. The third position in this ranking was taken by the Netherlands (X units), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Moldova totaled +85.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+38.1% per year) and the Netherlands (-18.2% per year).

In value terms, the largest markets for worked wax articles exported from Ukraine were Moldova ($X), Poland ($X) and China ($X), with a combined 68% share of total exports.

Moldova, with a CAGR of +62.8%, recorded 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

In 2022, the average worked wax articles export price amounted to $X per thousand units, with a decrease of -4.6% against the previous year. Overall, the export price, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 501%. The export price peaked at $X per thousand units in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per thousand units), while the average price for exports to Belarus ($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 Switzerland (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Ukraine

In 2022, purchases abroad of worked articles of wax decreased by -41.9% to X units for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 66%. Over the period under review, imports hit record highs at X units in 2021, and then shrank rapidly in the following year.

In value terms, worked wax articles imports shrank markedly to $X in 2022. Overall, imports, however, enjoyed tangible growth. The most prominent rate of growth was recorded in 2021 with an increase of 44%. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

Iran (X units), China (X units) and Belgium (X units) were the main suppliers of worked wax articles imports to Ukraine, together comprising 86% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +27.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), China ($X) and Slovenia ($X) appeared to be the largest worked wax articles suppliers to Ukraine, together comprising 91% of total imports. Iran and Croatia lagged somewhat behind, together comprising a further 6.7%.

Iran, with a CAGR of +20.6%, recorded the highest growth rate of 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, falling by -13.5% against the previous year. Over the period under review, the import price showed a deep reduction. The most prominent rate of growth was recorded in 2017 an increase of 16%. The import price peaked at $X per thousand units in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per thousand units), while the price for Iran ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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