Key Market Indicators
The global wax market is set to reach a value of $26.5 million by 2026, up 0.5% from $25.7 million in 2020. This growth rate is 5% higher than the year-on-year average. China, Japan and Germany are the top three countries in this ranking. Ukraine's wax import is forecast to reach 4.03 million kilograms by 2026, an increase of 2.6% from 3.45 million kilograms in 2021. Since 2001, Ukrainian demand has grown 4.6% annually. Algeria is currently number one at 3.45 million kilograms, with Mexico, Germany and Poland in second, third and fourth place respectively. In 2018, Ukraine exported 103.5 kilograms of wax, a 97.6% decrease from 4,390 kilograms in 2017. Year-on-year, Ukraine's supply has dropped by 1.9% since 2001. The country came in 67th place in 2018, with Kazakhstan overtaking with 103.5 kilograms. Malaysia, Germany and South Africa were in second, third and fourth place respectively.
