Africa: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Africa

The African worked wax articles market dropped slightly to $X in 2022, declining by X% against the previous year. Overall, consumption, however, saw strong growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Worked Wax Articles Production in Africa

In value terms, worked wax articles production fell slightly to $X in 2022 estimated in export price. Overall, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Worked Wax Articles Exports

Exports in Africa

In 2022, shipments 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, exports showed a mild decrease. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, worked wax articles exports declined rapidly to $X in 2022. Overall, exports showed a perceptible shrinkage. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Zambia (X units), Ethiopia (X units) and Nigeria (X units) represented roughly X% of total exports in 2022. Kenya (X units) took the next position in the ranking, followed by Egypt (X units). All these countries together took approx. X% share of total exports. South Africa (X units) and Morocco (X units) followed a long way behind the leaders.

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

In value terms, Ethiopia ($X) emerged as the largest worked wax articles supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Egypt ($X), with a X% share of total exports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Ethiopia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (X% per year) and South Africa (X% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2022, which is down by X% against the previous year. Overall, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

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

Worked Wax Articles Imports

Imports in Africa

In 2022, imports of worked articles of wax in Africa surged to X units, growing by X% compared with 2021 figures. Total imports indicated a prominent expansion from 2012 to 2022: its volume 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 increased by X% against 2015 indices. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, worked wax articles imports shrank to $X in 2022. Total imports indicated a temperate 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 increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Democratic Republic of the Congo (X units), distantly followed by Algeria (X units), Nigeria (X units), Ghana (X units), Egypt (X units) and South Africa (X units) were the main importers of worked articles of wax, together comprising X% of total imports. Morocco (X units) held a little share of total imports.

Democratic Republic of the Congo was also the fastest-growing in terms of the worked articles of wax imports, with a CAGR of X% from 2012 to 2022. At the same time, Algeria (X%), Nigeria (X%), Morocco (X%), Ghana (X%) and South Africa (X%) displayed positive paces of growth. Egypt experienced a relatively flat trend pattern. While the share of Democratic Republic of the Congo (X p.p.) and Algeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.), Ghana (X p.p.), South Africa (X p.p.) and Egypt (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Algeria ($X), Egypt ($X) and South Africa ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Algeria, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per unit, shrinking by X% against the previous year. In general, the import price recorded a mild decline. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit, and then declined notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Morocco ($X per unit), while Democratic Republic of the Congo ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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