Key Market Indicators
The global wax market is projected to reach a value of $69.4 million by 2026, growing at a CAGR of 1% from 2020. This growth is due to a 0.8% year-on-year increase. China, Japan and Germany ranked second, third and fourth respectively in this ranking. Finnish wax imports are forecast to decrease at an average annual rate of 12.4% to 885,330 kilograms by 2026, down from 1,875,500 kilograms in 2021. Since 1993, Finnish demand has fallen by 9.2% each year. In 2021, Finland was ranked 53rd; Croatia took the lead with 1,875,500 kilograms. Mexico, Germany and Poland took the second, third and fourth spots in this ranking. Finnish wax exports saw a huge jump of 476.8% from 2017 to 2018, totalling 23,510 kilograms. Since 1993, Finnish supply has decreased by 39.3% each year. In 2018, Finland ranked 49th, with El Salvador ahead with 23,510 kilograms. Malaysia, Germany and South Africa were the second, third and fourth in this ranking.
