The forecast for the re-import of soaps, lubricants, waxes, candles, and modeling pastes to China shows a declining trend from 2024 to 2028. Starting at $13.627 million in 2024, the forecasted value decreases annually, reaching $12.596 million by 2028. In terms of year-on-year percentage change, this represents a consistent decrease, averaging around 1.89% annually. The compound annual growth rate (CAGR) over the five-year period is negative, signaling a steady downward trajectory in re-import values.
Future trends to watch for:
- Shift in consumer demand toward locally produced alternatives could further dampen re-import figures.
- Potential policy changes or trade agreements impacting import duties and tariffs could alter this trend significantly.
- Innovation in product composition or environmental regulations may reshape the market dynamics.