In 2023, the import value of petroleum jelly and mineral waxes to the UK was recorded at $68.193 million USD. The forecasted data from 2024 to 2028 reveals a steady annual increase in imports, with values rising from $68.207 million USD in 2024 to $68.262 million USD in 2028.
The year-on-year growth rate is consistent, demonstrating slight increases: approximately 0.02% annually. Over this period, the compound annual growth rate (CAGR) is calculated to be approximately 0.02%. These moderate growth figures reflect stability in the import market of these products.
Future trends to watch for include fluctuating global oil prices, changes in trade policies post-Brexit, and increasing demand for petroleum-based products in the pharmaceutical and cosmetics industries, which could affect import levels and pricing strategies.
