Turkey: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Turkey

In 2022, the Turkish worked wax articles market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a significant increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Worked Wax Articles Production in Turkey

In value terms, worked wax articles production dropped to $X in 2022 estimated in export price. In general, production, however, faced a significant decline. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Worked Wax Articles Exports

Exports from Turkey

Worked wax articles exports from Turkey surged to X units in 2022, growing by X% on 2021 figures. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, worked wax articles exports soared to $X in 2022. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Algeria (X units), Azerbaijan (X units) and Hong Kong SAR (X units) were the main destinations of worked wax articles exports from Turkey, with a combined X% share of total exports. South Africa, Qatar, France, Russia, Egypt, Oman, Jordan, Austria, India and Israel lagged somewhat behind, together comprising a further X%.

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

In value terms, Algeria ($X) remains the key foreign market for worked articles of wax exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an X% share of total exports. It was followed by Azerbaijan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Algeria amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Azerbaijan (X% per year).

Export Prices by Country

The average worked wax articles export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price showed a resilient expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

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

Worked Wax Articles Imports

Imports into Turkey

In 2022, approx. X units of worked articles of wax were imported into Turkey; with an increase of X% against the previous year's figure. In general, imports showed a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, worked wax articles imports stood at $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 throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Belgium (X units), Italy (X units) and Germany (X units) were the main suppliers of worked wax articles imports to Turkey, together accounting for X% of total imports. Romania, Vietnam, Spain, Croatia, South Korea, India and China lagged somewhat behind, together accounting for a further X%.

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

In value terms, Belgium ($X) constituted the largest supplier of worked articles of wax to Turkey, comprising X% of total imports. The second position in the ranking was held by Romania ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

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

Import Prices by Country

The average worked wax articles import price stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the import price saw a noticeable setback. The growth pace was the most rapid in 2014 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 Croatia ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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