Vietnam: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Vietnam

In 2022, the Vietnamese worked wax articles market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Worked Wax Articles Production in Vietnam

In value terms, worked wax articles production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Worked wax articles production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Worked Wax Articles Exports

Exports from Vietnam

In 2022, the amount of worked articles of wax exported from Vietnam rose notably to X units, with an increase of X% compared with the year before. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, worked wax articles exports expanded rapidly to $X in 2022. Over the period under review, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X units) was the main destination for worked wax articles exports from Vietnam, accounting for a X% share of total exports. Moreover, worked wax articles exports to the United States exceeded the volume sent to the second major destination, Bangladesh (X units), more than tenfold. Greece (X units) ranked third in terms of total exports with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for worked articles of wax exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total exports. It was followed by Greece, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Greece (X% per year).

Export Prices by Country

The average worked wax articles export price stood at $X per unit in 2022, almost unchanged from the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per unit) and Pakistan ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) and the Philippines ($X per unit) were amongst the lowest.

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

Worked Wax Articles Imports

Imports into Vietnam

In 2022, supplies from abroad of worked articles of wax decreased by X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a perceptible decrease. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, worked wax articles imports declined remarkably to $X in 2022. In general, imports recorded a pronounced decline. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X units) constituted the largest supplier of worked wax articles to Vietnam, accounting for a X% share of total imports. Moreover, worked wax articles imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X units), threefold.

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

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

From 2012 to 2022, the average annual growth rate of value from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and France (X% per year).

Import Prices by Country

The average worked wax articles import price stood at $X per unit in 2022, flattening at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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