Norway: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Norway

The Norwegian vegetable waxes market dropped to $X in 2022, reducing by X% against the previous year. Overall, consumption continues to indicate a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Waxes Production in Norway

In value terms, vegetable waxes production reduced to $X in 2022 estimated in export price. In general, production recorded a abrupt contraction. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Vegetable Waxes Exports

Exports from Norway

In 2022, the amount of vegetable waxes exported from Norway surged to X tons, increasing by X% compared with 2021 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, vegetable waxes exports soared to $X in 2022. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Denmark (X tons) was the main destination for vegetable waxes exports from Norway, accounting for a X% share of total exports. It was followed by Sweden (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Denmark was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and the United States (X% per year).

In value terms, Denmark ($X) emerged as the key foreign market for vegetable waxes exports from Norway, comprising X% of total exports. The second position in the ranking was taken by Sweden ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Denmark stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average vegetable waxes export price amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, posted significant growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Denmark ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Waxes Imports

Imports into Norway

In 2022, supplies from abroad of vegetable waxes decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, vegetable waxes imports shrank rapidly to $X in 2022. Overall, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2021, and then contracted dramatically in the following year.

Imports by Country

Brazil (X tons), Italy (X kg) and Sweden (X kg) were the main suppliers of vegetable waxes imports to Norway, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of vegetable waxes to Norway, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Sweden, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Sweden (X% per year).

Import Prices by Country

In 2022, the average vegetable waxes import price amounted to $X per ton, declining by X% against the previous year. Overall, the import price, however, showed prominent growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2019 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 Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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