Key Market Indicators
The global wax market is expected to reach a value of around $100.8 million by 2026, up from $92.6 million in 2020. This 1.4% year-on-year growth rate is higher than the 3.1% year-on-year increase observed over the period. In terms of countries, China, Japan and Germany placed second, third and fourth respectively. Australia is forecast to import 10.8 million kilograms of wax by 2026, up from 9.4 million kilograms in 2021. This is an average increase of 2.4% year-on-year, although since 1993 there has been a 1.6% year-on-year decrease. Australia was ranked 20th in 2021, with Colombia overtaking at 9.4 million kilograms. Mexico, Germany and Poland were placed second, third and fourth respectively. Australian wax exports totalled 217,180 kilograms in 2021, down from 326,210 kilograms in 2020 – a decrease of 33.4%. Since 1993, Australian supply has dropped by 11.5% year-on-year. The country was ranked 30th in 2021, with Switzerland ahead at 217,180 kilograms. Malaysia, Germany and South Africa were placed second, third and fourth respectively.
