The forecast for paraffin waxes available for final consumption in Germany from 2024 to 2028 indicates a gradual decline in volume, with figures moving from 131.57 to 120.23 thousand tonnes of oil equivalent. This represents a year-on-year decrease of approximately 2% to 3% over the period. In 2023, the consumption stood at 134.58 thousand tonnes, based on an observed decline trend. The compound annual growth rate (CAGR) from 2024 to 2028 is negative, suggesting a persistent reduction in consumption levels.
Future trends to watch for include the impact of evolving industrial practices, economic factors, and potential shifts towards alternative materials or substitutes that may accelerate this declining trend. Additionally, understanding demand fluctuations in associated industries, such as cosmetics and packaging, could provide further insights.
