Report Philippines - Worked Articles of Wax - Market Analysis, Forecast, Size, Trends and Insights for 499$
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Philippines - Worked Articles of Wax - Market Analysis, Forecast, Size, Trends and Insights
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Philippines: Worked Wax Articles Market 2022

Worked Wax Articles Market Size in the Philippines

The Philippine worked wax articles market shrank remarkably to $X in 2021, with a decrease of -20.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +17.0% against 2019 indices. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Worked Wax Articles Exports

Exports from the Philippines

Worked wax articles exports from the Philippines contracted significantly to X units in 2021, with a decrease of -36% against 2020. Over the period under review, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 23%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, worked wax articles exports surged to $X in 2021. Overall, exports showed a deep setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for worked wax articles exports from the Philippines, with a 68% share of total exports. Moreover, worked wax articles exports to the United States exceeded the volume sent to the second major destination, Japan (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+5.6% per year) and Canada (+23.4% per year).

In value terms, the United States ($X) remains the key foreign market for worked wax articles exports from the Philippines, comprising 85% of total exports. The second position in the ranking was held by Canada ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+23.6% per year) and Japan (+2.6% per year).

Export Prices by Country

The average worked wax articles export price stood at $X per unit in 2021, growing by 92% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into the Philippines

Worked wax articles imports into the Philippines shrank to X units in 2021, which is down by -6.4% on the previous year. The total import volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 48% against the previous year. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, worked wax articles imports fell dramatically to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2021, China (X units) constituted the largest worked wax articles supplier to the Philippines, with a 71% share of total imports. Moreover, worked wax articles imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), fivefold. The third position in this ranking was taken by Vietnam (X units), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-0.5% per year) and Vietnam (-5.6% per year).

In value terms, China ($X), Indonesia ($X) and Belgium ($X) were the largest worked wax articles suppliers to the Philippines, with a combined 83% share of total imports.

Belgium, with a CAGR of +51.4%, recorded the highest rates of growth with regard to 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

In 2021, the average worked wax articles import price amounted to $X per unit, with a decrease of -19.5% against the previous year. Over the period under review, the import price continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2015 an increase of 15%. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for worked articles of wax in the world?
+
The countries with the highest volumes of consumption in 2021 were China, the United States and Spain, with a combined 39% share of global consumption. These countries were followed by India, Japan, Russia, Germany, Pakistan, Indonesia, Brazil, the UK, Belgium and Ethiopia, which together accounted for a further 34%.
What are the largest producers of worked articles of wax in the world?
+
China remains the largest worked wax articles producing country worldwide, accounting for 25% of total volume. Moreover, worked wax articles production in China exceeded the figures recorded by the second-largest producer, India, twofold. The United States ranked third in terms of total production with a 9.2% share.
What are the leading suppliers of worked articles of wax to the Philippines?
+
In value terms, China, Indonesia and Belgium constituted the largest worked wax articles suppliers to the Philippines, together comprising 83% of total imports.
What are the leading importers of worked articles of wax from the Philippines?
+
In value terms, the United States remains the key foreign market for worked wax articles exports from the Philippines, comprising 85% of total exports. The second position in the ranking was taken by Canada, with an 11% share of total exports.
What is the average export price for worked articles of wax in the Philippines?
+
The average worked wax articles export price stood at $28 per unit in 2021, jumping by 92% against the previous year.
What is the average import price for worked articles of wax in the Philippines?
+
The average worked wax articles import price stood at $15 per unit in 2021, shrinking by -19.5% against the previous year.

This report provides an in-depth analysis of the worked wax articles market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 32995940 - Worked vegetable or mineral..., moulded... articles of wax, s tearin,
Country coverage:
• Philippines

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the Philippines
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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