Key Market Indicators
The global wax market value is projected to reach $175 million by 2026, growing at a rate of 0.2% each year on average. This growth follows a decrease of 1.8% in 2020. China, Japan and Germany were the top three countries in terms of market value. Dutch wax imports are forecast to reach 31.8 million kilograms by 2026, a decrease of 1.8% on average each year. Since 1997, demand for wax in the Netherlands has decreased by 6.4% year on year. In 2021, Poland overtook the Netherlands with 35.3 million kilograms, while Mexico, Germany and Poland ranked second, third and fourth respectively. Exports of Dutch wax are expected to reach 66.8 million kilograms by 2026, an increase of 3.1% year on year on average. Since 1997, Dutch wax supply has increased by 2.2% year on year. In 2021, Iran became the largest exporter with 55.6 million kilograms, followed by Malaysia, Germany and South Africa.
