Colombia: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Colombia

The Colombian worked wax articles market was finally on the rise to reach $X in 2023, after two years of decline. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Worked Wax Articles Production in Colombia

In value terms, worked wax articles production declined slightly to $X in 2023 estimated in export price. In general, production recorded a mild downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Worked Wax Articles Exports

Exports from Colombia

In 2023, shipments abroad of worked articles of wax decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, exports showed a perceptible decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, worked wax articles exports contracted to $X in 2023. Over the period under review, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units), Germany (X units) and the United States (X units) were the main destinations of worked wax articles exports from Colombia, together accounting for X% of total exports. Peru, Chile, Argentina, El Salvador, New Zealand, Ecuador, the Dominican Republic and Cuba lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by El Salvador (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for worked wax articles exported from Colombia were Mexico ($X), Germany ($X) and the United States ($X), with a combined X% share of total exports. Peru, Argentina, Chile, El Salvador, Ecuador, the Dominican Republic, New Zealand and Cuba lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, El Salvador, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average worked wax articles export price amounted to $X per thousand units, reducing by X% against the previous year. Overall, the export price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per thousand units. From 2015 to 2023, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per thousand units), while the average price for exports to New Zealand ($X per thousand units) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (X%), while the prices for the other major destinations experienced mixed trend patterns.

Worked Wax Articles Imports

Imports into Colombia

In 2023, supplies from abroad of worked articles of wax decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, worked wax articles imports shrank to $X in 2023. Over the period under review, total imports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2022, and then fell in the following year.

Imports by Country

China (X units), Brazil (X units) and India (X units) were the main suppliers of worked wax articles imports to Colombia, with a combined X% share of total imports.

From 2012 to 2023, 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, the largest worked wax articles suppliers to Colombia were China ($X), Brazil ($X) and India ($X), with a combined X% share of total imports.

In terms of the main suppliers, Brazil, with a CAGR of X%, saw 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 thousand units in 2023, declining by X% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, worked wax articles import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices reached the maximum at $X per thousand units in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per thousand units), while the price for Indonesia ($X per thousand units) was amongst the lowest.

From 2012 to 2023, 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