Waxes; Artificial, Prepared Price in China - 2023
Contents:
- Waxes; Artificial, Prepared Price in China (CIF) - 2023
- Waxes; Artificial, Prepared Price in China (FOB) - 2023
- Waxes; Artificial, Prepared Imports in China
- Waxes; Artificial, Prepared Exports in China
Waxes; Artificial, Prepared Price in China (CIF) - 2023
The average waxes; artificial, prepared import price stood at $2,037 per ton in June 2023, which is down by -19.2% against the previous month. Over the period under review, the import price showed a perceptible decline. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 23% m-o-m. Over the period under review, average import prices hit record highs at $3,546 per ton in August 2022; however, from September 2022 to June 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($4,396 per ton), while the price for Vietnam ($886 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the United States (+0.9%), while the prices for the other major suppliers experienced a decline.
Waxes; Artificial, Prepared Price in China (FOB) - 2023
The average waxes; artificial, prepared export price stood at $2,208 per ton in June 2023, remaining stable against the previous month. Over the period under review, the export price saw a pronounced reduction. The most prominent rate of growth was recorded in November 2022 an increase of 10% month-to-month. Over the period under review, the average export prices hit record highs at $3,117 per ton in June 2022; however, from July 2022 to June 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($4,630 per ton), while the average price for exports to the United Arab Emirates ($1,112 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Finland (-0.4%), while the prices for the other major destinations experienced a decline.
Waxes; Artificial, Prepared Imports in China
In 2022, approx. 196K tons of waxes; artificial, prepared were imported into China; with a decrease of -15.7% compared with the previous year. Overall, imports showed a noticeable setback. The growth pace was the most rapid in 2021 with an increase of 2.6%. As a result, imports attained the peak of 233K tons, and then reduced markedly in the following year.
In value terms, waxes; artificial, prepared imports rose markedly to $593M in 2022. The total import value increased at an average annual rate of +10.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 26%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Waxes; Artificial, Prepared in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 100 | 94.6 | 114 | 139 | 11.6% |
| Malaysia | 60.1 | 59.4 | 85.6 | 103 | 19.7% |
| Germany | 56.1 | 61.1 | 64.9 | 65.6 | 5.4% |
| Indonesia | 30.6 | 30.2 | 47.6 | 62.6 | 26.9% |
| South Korea | 44.5 | 49.1 | 63.4 | 57.3 | 8.8% |
| Thailand | 39.8 | 30.9 | 45.2 | 38.8 | -0.8% |
| Japan | 24.4 | 22.1 | 32.3 | 27.7 | 4.3% |
| India | 12.8 | 13.4 | 16.1 | 16.5 | 8.8% |
| Taiwan (Chinese) | 17.2 | 15.8 | 21.7 | 13.7 | -7.3% |
| Singapore | 10.8 | 11.9 | 15.0 | 12.0 | 3.6% |
| Vietnam | 3.5 | 3.2 | 3.7 | 6.3 | 21.6% |
| Saudi Arabia | 6.9 | 4.9 | 3.8 | 1.4 | -41.2% |
| Others | 34.7 | 46.7 | 46.3 | 49.2 | 12.3% |
| Total | 441 | 443 | 559 | 593 | 10.4% |
Top Suppliers of Waxes; Artificial, Prepared to China in 2022:
- Malaysia (47.2K tons)
- Indonesia (30.4K tons)
- United States (29.3K tons)
- South Korea (21.9K tons)
- Thailand (20.6K tons)
- Germany (13.9K tons)
- Vietnam (5.8K tons)
- Japan (5.0K tons)
- Taiwan (Chinese) (4.9K tons)
- Singapore (3.2K tons)
- India (2.8K tons)
- Saudi Arabia (2.0K tons)
Waxes; Artificial, Prepared Exports in China
In 2022, approx. 145K tons of waxes; artificial, prepared were exported from China; rising by 7.2% on 2021 figures. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 152%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.
In value terms, waxes; artificial, prepared exports surged to $415M in 2022. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 245%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.
| Export of Waxes; Artificial, Prepared in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 11.2 | 20.4 | 39.8 | 46.2 | 60.4% |
| India | 4.1 | 4.1 | 26.1 | 45.8 | 123.5% |
| United States | 4.9 | 6.5 | 28.9 | 26.9 | 76.4% |
| Sweden | 0.3 | N/A | 17.5 | 21.8 | 317.3% |
| South Korea | 3.8 | 4.7 | 16.0 | 20.3 | 74.8% |
| Mexico | 0.9 | 1.2 | 14.9 | 17.2 | 167.4% |
| Indonesia | 3.5 | 5.4 | 12.7 | 17.0 | 69.4% |
| Russia | 0.6 | 1.2 | 6.4 | 15.1 | 193.1% |
| Italy | 0.1 | 0.2 | 12.0 | 14.7 | 427.8% |
| Brazil | 0.3 | 0.4 | 12.0 | 13.7 | 257.4% |
| Thailand | 7.0 | 7.4 | 11.9 | 12.7 | 22.0% |
| Turkey | 0.4 | 1.9 | 4.9 | 11.3 | 204.6% |
| Spain | 0.4 | 0.1 | 7.1 | 8.9 | 181.3% |
| Others | 38.5 | 44.7 | 128 | 144 | 55.2% |
| Total | 76.0 | 98.1 | 339 | 415 | 76.1% |
Top Export Markets for Waxes; Artificial, Prepared from China in 2022:
- Vietnam (26.6K tons)
- India (16.1K tons)
- South Korea (7.4K tons)
- Indonesia (7.0K tons)
- Mexico (6.1K tons)
- Thailand (5.4K tons)
- Sweden (5.3K tons)
- United States (4.8K tons)
- Russia (4.7K tons)
- Italy (4.5K tons)
- Brazil (4.1K tons)
- Spain (3.9K tons)
- Turkey (3.7K tons)
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