Non-vegetable waxes market in Asia

Earlier Report Observations

Between 2018 and 2020, the Asian non-vegetable waxes market volume expanded from 24 238 t to 25 092 t. This growth was primarily driven by increasing consumer preference for environmentally compatible natural waxes, such as beeswax, and rising demand for sustainable products. The expansion of e-commerce channels further supported consumption, even as global supply chain disruptions linked to the COVID-19 pandemic posed challenges to the market.

Market volume then contracted over the next two years, falling to 23 804 t in 2022. Tighter environmental regulations in key markets like Japan encouraged a shift toward cleaner-label products, while volatility in raw material prices – notably a sharp rise in oil prices – increased production costs and pressured supply chains. Despite these headwinds, consumer focus on natural ingredients remained strong, and major producers like Sasol Chemicals continued to invest in low-carbon footprint wax varieties.

A sharp recovery occurred in 2023, with volume jumping 10.7% to 26 355 t. The rebound was fueled by the rapid spread of eco-friendly wax melts and growing health-consciousness among consumers, which boosted demand for scented and gift-oriented wax products. Although inflationary cost pressures and geopolitical tensions persisted, diversification and innovation in the wax melt segment provided significant momentum to the overall market.

Production non-vegetable waxes in Asia

In kind, 2017-2020, t

Top producers of non-vegetable waxes, 2017-2020

World map of production of non-vegetable waxes, 2017-2020

In 2020, Asia produced 32 275 tonnes of non-vegetable waxes, showing no significant change from the previous year. The largest decline occurred in 2018 at 0.8%, while the largest increase was recorded in 2019 at 0.1%.

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

In value, 2017-2020, M $ US

Asia's non-vegetable waxes production declined for the third consecutive year. In 2020, output was valued at 173.9 million US dollars, marking a 5.5% decrease from 2019. Between 2017 and 2020, production fell by 17.4%, equating to an annualized rate of 6.2%.

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

Exports non-vegetable waxes from Asia

Exports in kind, t

Asia's non-vegetable waxes exports declined for the second consecutive year. In 2020, exports amounted to 9 460 tonnes, reflecting a limited drop of 4.6% from 2019. Over the period 2017-2020, exports decreased by 7.9%, with a compound annual growth rate of 2.7%. The maximum value was recorded in 2018 at 10 535 tonnes. The largest decline occurred in 2019 at 5.8%, while the largest increase was in 2018 at 2.6%.

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

From 2017 to 2020, exports in kind were distributed across a wide set of partner countries. Germany accounted for 20.9% of exports, the United States for 18.5%, and Algeria for 7.5%, jointly representing 47.0% of total flows.

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

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

Exports in value, K $ US

Cross-border shipments of non-vegetable waxes from Asia declined for the third consecutive year. In 2020, exports stood at 50 974 thousand US dollars, equivalent to a decrease of 9.6% year-over-year. Between 2017 and 2020, exports decreased by 23.2%, equating to an annualized rate of 8.4%.

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

Throughout 2017-2020, the United States, Germany, and France formed the core group of markets for exports in value terms. The United States accounted for 24.8% of exports, Germany for 23.1%, and France for 7.6%, together representing 55.6% of total flows.

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

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

Imports non-vegetable waxes to Asia

Imports in kind, t

In 2020, foreign non-vegetable waxes supplies to Asia stood at 2 277 tonnes, showing an advance of 4.1% versus the previous year. Over the period 2017-2020, imports increased by 9%, with a compound annual growth rate of 2.9%. The maximum value was recorded in 2018 at 2 432 tonnes. The largest decline occurred in 2019 at 10.1%, while the largest increase was in 2018 at 16.5%.

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

From 2017 to 2020, imports in kind of non-vegetable waxes to Asia were spread across many countries. The United States accounted for 9.4% of imports, Germany for 7.6%, and the Netherlands for 5.4%, jointly representing only 22.4% of total flows.

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

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

Imports in value, K $ US

Asia's non-vegetable waxes import volume declined for the second consecutive year. In 2020, imports totalled 17 745 thousand US dollars, equivalent to a slight fall of 1.4% relative to the prior year. Over the period 2017-2020, imports decreased by 8.5%, with a compound annual growth rate of 2.9%. The maximum value was recorded in 2018 at 22 197 thousand US dollars. The largest decline occurred in 2019 at 18.9%, while the largest increase was in 2018 at 14.5%.

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

Over 2017-2020, there was no single dominant market for non-vegetable waxes imports in value terms. The United States accounted for 12.4% of imports, Germany for 9.7%, and Tanzania for 6.1%, together taking only 28.2% of total imports, while many smaller partners each accounted for modest individual shares.

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

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