Waxes; Artificial, Prepared Price in India - 2023
Contents:
- Waxes; Artificial, Prepared Price in India (CIF) - 2023
- Waxes; Artificial, Prepared Price in India (FOB) - 2023
- Waxes; Artificial, Prepared Imports in India
- Waxes; Artificial, Prepared Exports in India
Waxes; Artificial, Prepared Price in India (CIF) - 2023
The average waxes; artificial, prepared import price stood at $1,869 per ton in July 2023, surging by 12% against the previous month. Overall, the import price, however, recorded a slight reduction. The most prominent rate of growth was recorded in May 2023 an increase of 13% month-to-month. Over the period under review, average import prices reached the maximum at $2,504 per ton in August 2022; however, from September 2022 to July 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Germany ($3,784 per ton), while the price for the United Arab Emirates ($1,015 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.2%), while the prices for the other major suppliers experienced a decline.
Waxes; Artificial, Prepared Price in India (FOB) - 2023
In July 2023, the average waxes; artificial, prepared export price amounted to $3,084 per ton, reducing by -9.9% against the previous month. Over the period under review, the export price continues to indicate a slight decrease. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 16% month-to-month. The export price peaked at $3,917 per ton in November 2022; however, from December 2022 to July 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was China ($5,028 per ton), while the average price for exports to Italy ($1,319 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 China (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.
Waxes; Artificial, Prepared Imports in India
In 2022, approx. 108K tons of waxes; artificial, prepared were imported into India; rising by 22% on the year before. Overall, imports posted a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 58% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
In value terms, waxes; artificial, prepared imports skyrocketed to $238M in 2022. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 63%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.
| Import of Waxes; Artificial, Prepared in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 38.8 | 25.3 | 70.8 | 102 | 38.0% |
| China | 20.1 | 12.9 | 23.4 | 33.6 | 18.7% |
| United States | 20.8 | 20.8 | 20.4 | 29.2 | 12.0% |
| Germany | 11.4 | 10.7 | 16.0 | 23.0 | 26.4% |
| Malaysia | 5.7 | 5.2 | 4.0 | 7.0 | 7.1% |
| Singapore | 4.1 | 2.2 | 4.1 | 6.0 | 13.5% |
| Thailand | 3.2 | 3.5 | 3.2 | 4.6 | 12.9% |
| Saudi Arabia | 0.5 | 1.1 | 1.4 | 2.0 | 58.7% |
| Qatar | 0.2 | 1.0 | 1.0 | 1.4 | 91.3% |
| Others | 19.7 | 17.6 | 19.2 | 29.8 | 14.8% |
| Total | 124 | 100 | 164 | 238 | 24.3% |
Top Suppliers of Waxes; Artificial, Prepared to India in 2022:
- South Korea (61.0K tons)
- China (10.0K tons)
- Germany (7.8K tons)
- United States (6.7K tons)
- Malaysia (3.9K tons)
- Qatar (2.8K tons)
- Saudi Arabia (2.3K tons)
- Singapore (2.3K tons)
- Thailand (2.2K tons)
Waxes; Artificial, Prepared Exports in India
In 2022, exports of waxes; artificial, prepared from India skyrocketed to 29K tons, increasing by 28% against the previous year. The total export volume increased at an average annual rate of +9.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, waxes; artificial, prepared exports surged to $75M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +15.7% 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 +55.5% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Waxes; Artificial, Prepared in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 10.8 | 11.1 | 12.1 | 15.5 | 12.8% |
| United States | 8.4 | 6.0 | 7.0 | 9.0 | 2.3% |
| Netherlands | 2.0 | 3.9 | 3.7 | 4.8 | 33.9% |
| Germany | 1.0 | 2.1 | 3.0 | 3.8 | 56.0% |
| Turkey | 1.7 | 1.4 | 2.4 | 3.0 | 20.8% |
| Singapore | 0.1 | 1.1 | 2.2 | 2.8 | 203.7% |
| Saudi Arabia | 1.2 | 0.9 | 2.0 | 2.6 | 29.4% |
| Spain | 1.0 | 1.9 | 2.0 | 2.6 | 37.5% |
| United Arab Emirates | 0.9 | 0.7 | 1.5 | 1.9 | 28.3% |
| Bangladesh | 1.6 | 1.1 | 1.3 | 1.7 | 2.0% |
| Vietnam | 1.2 | 1.4 | 1.3 | 1.7 | 12.3% |
| Italy | 1.1 | 1.2 | 1.2 | 1.6 | 13.3% |
| Nigeria | 1.0 | 0.9 | 1.0 | 1.3 | 9.1% |
| Others | 16.5 | 14.6 | 16.7 | 23.2 | 12.0% |
| Total | 48.6 | 48.5 | 57.3 | 75.4 | 15.8% |
Top Export Markets for Waxes; Artificial, Prepared from India in 2022:
- China (3.9K tons)
- United States (3.5K tons)
- Saudi Arabia (1.9K tons)
- Italy (1.8K tons)
- Turkey (1.7K tons)
- Netherlands (1.5K tons)
- Spain (1.3K tons)
- Vietnam (0.9K tons)
- Singapore (0.8K tons)
- United Arab Emirates (0.8K tons)
- Bangladesh (0.7K tons)
- Germany (0.6K tons)
- Nigeria (0.6K tons)
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