Key Market Indicators
The global Wax market value is expected to reach $567,320 million by 2026, falling by a 5.4% average year-on-year rate since 2020, when it was valued at $782,910 million. In the same period, market declined by 3.3% year-on-year. China, Japan and Germany ranked second, third and fourth respectively. Luxembourger wax imports are forecast to rise to 5,701,100 kilograms by 2026, from 4,742,800 kilograms in 2021, with an average growth rate of 3.1% year-on-year. Since 2004, Luxembourger demand has increased by 1% year-on-year. In 2021, the country ranked 32nd, with New Zealand ahead of it at 4,742,800 kilograms. Mexico, Germany and Poland followed in second, third and fourth places respectively. Luxembourger wax exports are predicted to reach 163,770 kilograms by 2026, up from 123,360 kilograms in 2021, with an average annual growth rate of 4.8%. Since 2004, Luxembourger supply has grown 32.5% year-on-year. In 2021, the country came in 39th, with the Czech Republic leading at 123,360 kilograms. Malaysia, Germany and South Africa followed in second, third and fourth places respectively.
