GCC: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in GCC

The GCC vegetable waxes market fell slightly to $X in 2022, dropping by X% against the previous year. In general, consumption continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when the market value increased by X%. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Vegetable Waxes Production in GCC

In value terms, vegetable waxes production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Vegetable Waxes Exports

Exports in GCC

Vegetable waxes exports dropped to X tons in 2022, declining by X% against the previous year's figure. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, vegetable waxes exports reduced to $X in 2022. Over the period under review, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2015 with an increase of X%. The level of export peaked at $X in 2021, and then fell modestly in the following year.

Exports by Country

Saudi Arabia represented the main exporting country with an export of about X tons, which accounted for X% of total exports. It was distantly followed by the United Arab Emirates (X tons), generating a X% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the vegetable waxes exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2022, the share of Saudi Arabia increased by X percentage points.

In value terms, Saudi Arabia ($X) remains the largest vegetable waxes supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Vegetable Waxes Imports

Imports in GCC

In 2022, purchases abroad of vegetable waxes decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced sharply in the following year.

In value terms, vegetable waxes imports contracted notably to $X in 2022. Overall, imports saw a perceptible downturn. The growth pace was the most rapid in 2016 when imports increased by X%. The level of import peaked at $X in 2021, and then fell sharply in the following year.

Imports by Country

The United Arab Emirates was the largest importing country with an import of about X tons, which finished at X% of total imports. It was distantly followed by Oman (X tons), achieving an X% share of total imports. The following importers - Qatar (X kg) and Kuwait (X kg) - each amounted to a X% share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Qatar (X%) and Oman (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.) and Qatar (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kuwait (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported vegetable waxes in GCC, comprising X% of total imports. The second position in the ranking was held by Oman ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, waning by X% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable waxes import price increased by X% against 2020 indices. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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