Key Market Indicators
The global wax market value is projected to decline by 0.4% year-on-year over the period 2020-2026, from $8.57 billion in 2020 to $8.37 billion by 2026. China, Japan, and Germany ranked second, third and fourth, respectively, in terms of market value. Costa Rican wax imports are forecast to fall 1.2% year-on-year over the period 2021-2026, from 1.82 million kilograms in 2021 to 1.69 million kilograms in 2026. Since 1999, demand for wax in Costa Rica has dropped by 3.3% annually. In 2021, Costa Rica ranked 54th in wax imports, with Sri Lanka placed ahead with 1.82 million kilograms. Mexico, Germany, and Poland held second, third and fourth positions, respectively, in terms of imports. Costa Rican wax exports are expected to grow 4.1% annually over the period 2021-2026, from 143 thousand kilograms in 2021 to 183 thousand kilograms in 2026. Since 1999, Costa Rican supply of wax has increased by 52.6% annually. In 2021, Costa Rica ranked 37th in wax exports, with Slovakia placed ahead with 143 thousand kilograms. Malaysia, Germany, and South Africa held second, third and fourth positions, respectively, in terms of exports.
