Key Market Indicators
The global wax market is set to reach $35.8 million by 2026, falling by 0.3% year on year on average. In 2020, the market was valued at $36.4 million. China, Japan and Germany ranked second, third and fourth respectively. Portuguese wax imports are projected to reach 8.9 million kilograms by 2026, down 0.8% year on year. Since 1993, Portuguese demand has dropped 0.6% annually. Portugal was the twenty-first largest importer in 2021, the Dominican Republic ahead with 9.3 million kilograms. Mexico, Germany and Poland ranked second, third and fourth respectively. Portuguese wax exports increased 63.7% in 2018, rising from 108,200 kilograms in 2017 to 177,070 in 2018. Since 1993, Portuguese supply has decreased 23.1% year on year. Portugal was the thirty-third largest exporter in 2018, Bosnia and Herzegovina ahead with 177,070 kilograms. Malaysia, Germany and South Africa ranked second, third and fourth respectively.
