Key Market Indicators
The global wax market is estimated to reach $41 million by 2026, up from $37 million in 2020. Average annual growth is projected at 1.5%. In 2020, the market grew at a rate of 4.1% year over year. China, Japan and Germany ranked second, third and fourth, respectively. Czech wax exports totaled 79,000 kilograms in 2021, down 22.1% from 101,500 kilograms in 2020. Since 1998, Czech exports have grown at an average rate of 8.3% year over year. In 2021, the country ranked 42nd, behind Costa Rica's 79,000 kilograms. Malaysia, Germany and South Africa ranked second, third and fourth, respectively. Czech wax imports are expected to reach nearly 7 million kilograms by 2026, up from 6.3 million kilograms in 2021. The average annual growth rate is projected at 1.1%. Since 1998, Czech imports have grown by 12.2% year over year. In 2021, the country came in 28th, behind Kenya's 6.3 million kilograms. Mexico, Germany and Poland ranked second, third and fourth, respectively.
