Artificial and prepared waxes market in Spain

Earlier Report Observations

Between 2018 and 2020, the physical volume of Spain's artificial and prepared waxes market contracted from 92 087 t to 76 703 t, while its value increased from 135.2 million $ US to 149.3 million $ US. This rise in market value coincided with global factors such as reduced supply of fossil waxes and higher crude oil prices, which made synthetic waxes more attractive and supported higher price levels despite the overall drop in volume.

The period after 2020 saw a recovery trajectory, supported by growing global demand reflected in a 14.4% increase in worldwide exports between 2021 and 2022. Furthermore, the expanding cosmetics industry in Spain, fueled by greater consumer focus on personal care and sustainability, increased the need for prepared waxes in cosmetic formulations.

By 2024, the market volume reached 98 423 t, valued at 212.6 million $ US. This growth was driven by economic recovery, product innovation, and improved supply chain stability, alongside sustained demand for waxes in cosmetics, coatings, and polishes.

Production artificial and prepared waxes in Spain

In value, 2017-2020, M $ US

After two consecutive years of decline, Spain's production of artificial and prepared waxes increased in value terms. In 2020, output was valued at 111.7 million US dollars, marking a 3.3% increase compared to the previous year. Over the period from 2017 to 2020, production decreased by 6.5%, which translates to an average annual decline of 2.2%. The lowest value was recorded in 2019 at 108.1 million US dollars, while the largest decline occurred in 2018 with a drop of 5.5%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, t

Spain's production volume of artificial and prepared waxes declined for the second year in a row. In 2020, the country produced 65 992 tonnes, representing a 23.2% decrease compared to the previous year. From 2017 to 2020, production fell by 8%, averaging an annual decline of 2.8%. The highest volume was recorded in 2018 at 87 888 tonnes, which also saw the largest increase of 22.5% that year.

Annual dynamics of production in Spain in kind, 2017-2020, t

Exports artificial and prepared waxes from Spain

Exports in kind, t

In 2020, Spain's exports of artificial and prepared waxes totalled 26 244 tonnes, showing a 2.1% decrease year-over-year. Over the 2017-2020 period, exports declined by 15.2%, with a compound annual growth rate of -5.3%. The largest decline occurred in 2018 at 14.8%, while the largest increase was recorded in 2019 with a 1.7% rise.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

Between 2017 and 2020, no single market dominated Spain's exports of artificial and prepared waxes in volume terms. France accounted for 22.2% of exports, Italy for 8.7%, and Egypt for 6.3%, together representing 37.2% of total exports. The remaining share was distributed among numerous smaller partners, each with modest individual contributions.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, K $ US

Spain's exports of artificial and prepared waxes in value terms declined for the third consecutive year. In 2020, exports amounted to 47.362 million US dollars, a 5.6% decrease from the previous year. Over the 2017-2020 period, exports fell by 22.7%, with a compound annual growth rate of -8.2%.

Annual dynamics of product's exports from Spain in value, 2017-2020, K $ US

The market base for Spain's exports in value terms was broad from 2017 to 2020. France contributed 12.3% of exports, Italy 9.2%, and Egypt 8.6%, jointly accounting for 30.1% of total flows. The remaining 69.9% was shared among many other countries.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports artificial and prepared waxes to Spain

Imports in kind, t

Spain's import volume of artificial and prepared waxes increased for the second consecutive year. In 2020, imports stood at 36 955 tonnes, reflecting a strong 16.0% increase year-over-year. Between 2017 and 2020, imports grew by 19.1%, averaging an annual increase of 6.0%. The lowest volume was recorded in 2018 at 30 557 tonnes, which also saw the largest decline of 1.5% that year.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

From 2017 to 2020, Spain's supplier portfolio for artificial and prepared waxes was diverse. Germany accounted for 31.8% of imports in volume, the United States for 7.3%, and Portugal for 7.1%, together contributing 46.1% of total imports. Many other countries held smaller but notable shares.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, K $ US

In 2020, Spain's imports of artificial and prepared waxes in value terms totalled 84.915 million US dollars, up by 12.5% compared to the previous year. Over the 2017-2020 period, imports increased by 20.7%, with a compound annual growth rate of 6.5%. The largest decline was recorded in 2019 with a 2.8% drop.

Annual dynamics of product's imports to Spain in value, 2017-2020, K $ US

Between 2017 and 2020, Germany, Denmark, and the United States consistently led Spain's import structure in value terms. Germany accounted for 38.2% of imports, Denmark for 9.7%, and the United States for 9.1%, jointly representing 57.1% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020