Waxes; Artificial, Prepared Price in the United States - 2023
Contents:
- Waxes; Artificial, Prepared Price in the United States (FOB) - 2023
- Waxes; Artificial, Prepared Price in the United States (CIF) - 2023
- Waxes; Artificial, Prepared Exports in the United States
- Waxes; Artificial, Prepared Imports in the United States
Waxes; Artificial, Prepared Price in the United States (FOB) - 2023
The average waxes; artificial, prepared export price stood at $3,794 per ton in August 2023, picking up by 7.2% against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 when the average export price increased by 8.4% against the previous month. Over the period under review, the average export prices reached the maximum at $4,543 per ton in November 2022; however, from December 2022 to August 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In August 2023, the country with the highest price was Japan ($6,100 per ton), while the average price for exports to Canada ($2,714 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Waxes; Artificial, Prepared Price in the United States (CIF) - 2023
In August 2023, the average waxes; artificial, prepared import price amounted to $3,411 per ton, surging by 2.4% against the previous month. Over the period under review, the import price, however, continues to indicate a mild downturn. The pace of growth was the most pronounced in October 2022 when the average import price increased by 16% month-to-month. The import price peaked at $4,243 per ton in December 2022; however, from January 2023 to August 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 ($6,353 per ton), while the price for China ($2,300 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Belgium (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Waxes; Artificial, Prepared Exports in the United States
For the fourth year in a row, the United States recorded growth in overseas shipments of waxes; artificial, prepared, which increased by 2.4% to 146K tons in 2022. The total export volume increased at an average annual rate of +6.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 14% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, waxes; artificial, prepared exports surged to $607M in 2022. The total export value increased at an average annual rate of +11.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Waxes; Artificial, Prepared in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 42.6 | 44.0 | 57.7 | 116 | 39.6% |
| China | 70.2 | 74.4 | 90.7 | 89.0 | 8.2% |
| Mexico | 53.3 | 45.0 | 55.3 | 70.3 | 9.7% |
| Japan | 24.0 | 19.7 | 26.1 | 36.2 | 14.7% |
| Belgium | 22.0 | 36.0 | 32.4 | 29.5 | 10.3% |
| Netherlands | 21.2 | 11.0 | 23.1 | 28.2 | 10.0% |
| India | 17.2 | 15.3 | 20.2 | 25.8 | 14.5% |
| Germany | 25.1 | 23.1 | 24.9 | 23.9 | -1.6% |
| Brazil | 13.3 | 15.6 | 15.3 | 20.5 | 15.5% |
| South Korea | 15.8 | 14.6 | 15.4 | 15.4 | -0.9% |
| France | 13.5 | 12.1 | 11.4 | 13.2 | -0.7% |
| Taiwan (Chinese) | 11.8 | 8.6 | 10.1 | 11.5 | -0.9% |
| Spain | 6.6 | 5.2 | 5.7 | 7.2 | 2.9% |
| Others | 102 | 93.9 | 115 | 120 | 5.6% |
| Total | 438 | 418 | 504 | 607 | 11.5% |
Top Export Markets for Waxes; Artificial, Prepared from the United States in 2022:
- Canada (35.6K tons)
- China (22.3K tons)
- Mexico (20.0K tons)
- Belgium (8.0K tons)
- Netherlands (7.1K tons)
- India (6.7K tons)
- Japan (5.6K tons)
- Brazil (4.8K tons)
- Germany (4.5K tons)
- South Korea (3.0K tons)
- Taiwan (Chinese) (2.4K tons)
- France (2.0K tons)
- Spain (1.9K tons)
Waxes; Artificial, Prepared Imports in the United States
In 2022, approx. 98K tons of waxes; artificial, prepared were imported into the United States; rising by 19% on 2021. The total import volume increased at an average annual rate of +8.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, waxes; artificial, prepared imports soared to $375M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +18.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Waxes; Artificial, Prepared in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 49.0 | 44.2 | 53.7 | 73.8 | 14.6% |
| India | 19.0 | 12.9 | 20.2 | 41.5 | 29.7% |
| Canada | 29.5 | 31.7 | 36.1 | 41.2 | 11.8% |
| Malaysia | 18.3 | 16.9 | 16.9 | 34.5 | 23.5% |
| South Korea | 21.4 | 15.2 | 15.5 | 31.2 | 13.4% |
| Japan | 13.1 | 15.1 | 16.9 | 18.7 | 12.6% |
| Netherlands | 11.8 | 9.1 | 11.4 | 18.2 | 15.5% |
| China | 8.1 | 8.4 | 11.9 | 15.2 | 23.3% |
| Mexico | 13.1 | 7.2 | 7.8 | 11.0 | -5.7% |
| South Africa | 2.7 | 5.2 | 6.0 | 8.2 | 44.8% |
| Qatar | N/A | N/A | N/A | 5.0 | 0% |
| Russia | N/A | 4.0 | 11.1 | 4.6 | 7.2% |
| Others | 37.8 | 44.0 | 47.6 | 72.2 | 24.1% |
| Total | 224 | 214 | 255 | 375 | 18.7% |
Top Suppliers of Waxes; Artificial, Prepared to the United States in 2022:
- Germany (18.2K tons)
- Malaysia (12.4K tons)
- Canada (12.2K tons)
- South Korea (9.0K tons)
- India (7.3K tons)
- Mexico (5.1K tons)
- China (5.0K tons)
- Netherlands (3.9K tons)
- Japan (3.4K tons)
- South Africa (3.1K tons)
- Qatar (3.0K tons)
- Russia (2.1K tons)
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