Key Market Indicators
The global wax market is projected to grow to $131.9 million by 2026, up 1.8% year-on-year. This increase is due to a 2.8% year-on-year rise since 2020. China, Japan, and Germany are the top three countries in terms of market value. Swedish wax imports declined 2.7% to 1.41 million kilograms in 2021 compared to 2020. This is a 14.5% decrease compared to 1997. Sweden dropped to 60th place, with Estonia taking the lead at 1.41 million kilograms. Mexico, Germany, and Poland respectively had the second, third, and fourth highest imports. Swedish wax exports are forecast to reach 64,340 kilograms by 2026, down 6% year-on-year. This is a 2% fall from 1997. In 2021, Sweden ranked 41st, with Luxembourg leading the pack at 92,260 kilograms. Malaysia, Germany, and South Africa came in second, third, and fourth place, respectively.
