The import of Paraffin Wax to China is set to decline significantly from 2024 onwards. Forecasts indicate a progressive decrease from 4.0875 million kilograms in 2024 to 2.6804 million kilograms in 2028. This represents an average annual contraction (CAGR) of approximately 10% over these years. The decline highlights a consistent downward trend in import volumes following a steady year-on-year reduction. In 2023, import levels were moderately higher, underscoring the trend of shrinking demand or supply-side constraints affecting future forecasts.
Future trends to watch for include the potential impact of alternative materials and technologies, shifts in domestic production capabilities, and China's evolving energy policies which may further influence import demands.
