Key Market Indicators
The global wax market value is projected to decline by 0.2% year on year between 2020 and 2026, from $248,290,000 to $245,080,000. In 2020, the market registered a 1.4% year-on-year growth. China, Japan, and Germany came in second, third, and fourth place, respectively. Spain's wax export is projected to decline by 0.3% year on year CAGR from 2021 to 2026, from 10,843,000 kilograms to 10,634,000 kilograms. Since 1994, Spanish supply has risen by 0.7% year on year. In 2021, Spain ranked 14th, with Canada taking the lead with 10,843,000 kilograms. Malaysia, Germany, and South Africa ranked second, third, and fourth, respectively. From 2021 to 2026, Spanish wax imports are expected to decrease by 3.2% year on year on average, from 17,113,000 kilograms to 14,175,000 kilograms. Since 1994, Spanish demand has decreased by 8.5% year on year. In 2021, Japan was the top importer, with 17,113,000 kilograms. Mexico, Germany, and Poland ranked second, third, and fourth, respectively.
