Middle East: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in the Middle East

The Middle Eastern worked wax articles market expanded significantly to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption posted a resilient increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Worked Wax Articles Production in the Middle East

In value terms, worked wax articles production expanded markedly to $X in 2022 estimated in export price. Overall, production recorded significant growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Worked Wax Articles Exports

Exports in the Middle East

In 2022, after two years of decline, there was significant growth in overseas shipments of worked articles of wax, when their volume increased by X% to X units. Over the period under review, exports posted a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, worked wax articles exports surged to $X in 2022. Overall, exports posted prominent growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Turkey (X units) was the key exporter of worked articles of wax, making up X% of total exports. It was distantly followed by the United Arab Emirates (X units) and Saudi Arabia (X units), together generating a X% share of total exports. Jordan (X units) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest worked wax articles supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X), with a combined X% share of total exports.

Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, growing by X% against the previous year. Export price indicated a measured increase 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, worked wax articles export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Turkey ($X per unit) was amongst the lowest.

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

Worked Wax Articles Imports

Imports in the Middle East

After three years of growth, overseas purchases of worked articles of wax decreased by X% to X units in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X units, and then contracted in the following year.

In value terms, worked wax articles imports shrank significantly to $X in 2022. The total import value increased at an average annual rate of X% over the period 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 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then shrank notably in the following year.

Imports by Country

Turkey represented the major importer of worked articles of wax in the Middle East, with the volume of imports amounting to X units, which was approx. X% of total imports in 2022. Iran (X units) ranks second in terms of the total imports with a X% share, followed by Israel (X%), Iraq (X%) and Jordan (X%). The following importers - the United Arab Emirates (X units) and Lebanon (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to worked wax articles imports into Turkey stood at X%. At the same time, Iraq (X%), Iran (X%) and Lebanon (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Israel (X%), the United Arab Emirates (X%) and Jordan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Iran and Iraq increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported worked articles of wax in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Iran ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: Iran (X% per year) and Israel (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, declining by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per unit), while Iraq ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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