China: Beeswax Market 2023

Beeswax Market Size in China

The Chinese beeswax market reduced rapidly to $X in 2022, with a decrease of -20% against the previous year. In general, consumption recorded a abrupt downturn. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Beeswax Production in China

In value terms, beeswax production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight decrease. The pace of growth appeared the most rapid in 2016 with an increase of 39%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Beeswax Exports

Exports from China

Beeswax exports from China expanded slightly to X tons in 2022, growing by 2.2% against 2021 figures. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 32%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, beeswax exports rose sharply to $X in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 24% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), the United States (X tons) and France (X tons) were the main destinations of beeswax exports from China, together comprising 51% of total exports. The Netherlands, Greece, Serbia, Spain, Italy, the UK, Australia, Algeria and Albania lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Albania (with a CAGR of +17.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and France ($X) constituted the largest markets for beeswax exported from China worldwide, with a combined 56% share of total exports. The Netherlands, Australia, the UK, Italy, Greece, Spain, Serbia, Algeria and Albania lagged somewhat behind, together comprising a further 33%.

Among the main countries of destination, Albania, with a CAGR of +17.6%, saw the highest growth rate of the value of exports, 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 beeswax export price amounted to $X per ton, growing by 7% against the previous year. In general, the export price, however, recorded a mild decline. The growth pace was the most rapid in 2016 when the average export price increased by 35%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Albania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Beeswax Imports

Imports into China

After four years of growth, overseas purchases of beeswax decreased by -60.5% to X tons in 2022. In general, imports, however, enjoyed a pronounced increase. The growth pace was the most rapid in 2013 when imports increased by 41%. Imports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, beeswax imports fell remarkably to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 32%. Imports peaked at $X in 2021, and then declined remarkably in the following year.

Imports by Country

The United States (X tons), France (X tons) and Germany (X tons) were the main suppliers of beeswax imports to China, together accounting for 66% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +67.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Germany ($X) constituted the largest beeswax suppliers to China, together accounting for 66% of total imports.

Germany, with a CAGR of +51.4%, saw the highest growth rate of the value of imports, among 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 beeswax import price stood at $X per ton in 2022, surging by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2017 an increase of 51%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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