Waxes; Artificial, Prepared Price in Australia - 2023

Contents:

1. Waxes; Artificial, Prepared Price in Australia (CIF) - 2022
2. Waxes; Artificial, Prepared Price in Australia (FOB) - 2023
3. Waxes; Artificial, Prepared Imports in Australia
4. Waxes; Artificial, Prepared Exports in Australia

Waxes; Artificial, Prepared Price in Australia (CIF) - 2022

The average waxes; artificial, prepared import price stood at $4,021 per ton in 2022, rising by 23% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, waxes; artificial, prepared import price increased by +36.5% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($6,258 per ton), while the price for South Africa ($2,241 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Waxes; Artificial, Prepared Price in Australia (FOB) - 2023

The average waxes; artificial, prepared export price stood at $1,406 per ton in July 2023, reducing by -35.1% against the previous month. Over the period under review, the export price recorded a abrupt downturn. The pace of growth appeared the most rapid in November 2022 an increase of 273% against the previous month. As a result, the export price reached the peak level of $6,931 per ton. From December 2022 to July 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was the UK ($23,967 per ton), while the average price for exports to Thailand ($365 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+8.8%), while the prices for the other major destinations experienced mixed trend patterns.

Waxes; Artificial, Prepared Imports in Australia

After three years of growth, overseas purchases of waxes; artificial, prepared decreased by -2.6% to 8.2K tons in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +13.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30%. As a result, imports attained the peak of 8.4K tons, and then reduced modestly in the following year.

In value terms, waxes; artificial, prepared imports surged to $33M in 2022. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

Top Suppliers of Waxes; Artificial, Prepared to Australia in 2022:

1. China (2527.3 tons)
2. United States (1303.2 tons)
3. Thailand (740.2 tons)
4. Germany (671.6 tons)
5. Malaysia (551.7 tons)
6. South Korea (517.4 tons)
7. United Kingdom (497.2 tons)
8. Saudi Arabia (327.6 tons)
9. Singapore (251.2 tons)

Waxes; Artificial, Prepared Exports in Australia

In 2022, the amount of waxes; artificial, prepared exported from Australia surged to 1.5K tons, picking up by 25% compared with 2021. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 90% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, waxes; artificial, prepared exports surged to $4.8M in 2022. Over the period under review, total exports indicated a measured increase from 2019 to 2022: its value increased at an average annual rate of +2.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Top Export Markets for Waxes; Artificial, Prepared from Australia in 2022:

1. Vietnam (451.4 tons)
2. New Zealand (354.9 tons)
3. United States (213.1 tons)
4. China (180.3 tons)
5. United Kingdom (162.0 tons)
6. Thailand (56.4 tons)
7. Singapore (29.3 tons)

Source: IndexBox Market Intelligence Platform