United Kingdom: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in the UK

In 2022, the UK worked wax articles market decreased by X% to $X, falling for the third year in a row after three years of growth. In general, consumption recorded a slight curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Worked Wax Articles Production in the UK

In value terms, worked wax articles production rose to $X in 2022 estimated in export price. Over the period under review, production saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Worked Wax Articles Exports

Exports from the UK

In 2022, overseas shipments of worked articles of wax decreased by X% to X units, falling for the sixth year in a row after five years of growth. Over the period under review, exports, however, posted buoyant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, worked wax articles exports contracted notably to $X in 2022. In general, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X units), the Czech Republic (X units) and Ireland (X units) were the main destinations of worked wax articles exports from the UK, together comprising X% of total exports.

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

In value terms, the Netherlands ($X), Ireland ($X) and the Czech Republic ($X) were the largest markets for worked wax articles exported from the UK worldwide, together comprising X% of total exports.

The Czech Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average worked wax articles export price stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price showed a abrupt downturn. The growth pace was the most rapid in 2020 when the average export price increased by X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the Czech Republic ($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 Japan (X%), while the prices for the other major destinations experienced a decline.

Worked Wax Articles Imports

Imports into the UK

For the third consecutive year, the UK recorded decline in overseas purchases of worked articles of wax, which decreased by X% to X units in 2022. Over the period under review, imports saw a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, worked wax articles imports fell to $X in 2022. In general, total imports indicated a noticeable increase from 2012 to 2022: its value 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, imports decreased by X% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest worked wax articles supplier to the UK, with a X% share of total imports. Moreover, worked wax articles imports from China exceeded the figures recorded by the second-largest supplier, India (X units), twofold. Belgium (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Belgium (X% per year).

In value terms, Belgium ($X), China ($X) and India ($X) appeared to be the largest worked wax articles suppliers to the UK, together comprising X% of total imports. Croatia, France, the United States, Poland, the Czech Republic and the Netherlands lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average worked wax articles import price stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in years to come.

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 Belgium ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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