Non-vegetable waxes market in Central America

Earlier Report Observations

The market volume for non-vegetable waxes in Central America fluctuated significantly between 2018 and 2023. Consumption rose modestly to 2 243 т in 2019, then dropped sharply to 1 910 т in 2020. A partial recovery followed in 2021, reaching 2 064 т, before the market stabilized around 2 040 т in 2022 and declined again to 1 888 т in 2023. In value terms, the market followed a similar volatile path, falling from $18.2 million in 2018 to $17.3 million in 2019, then contracting sharply to $13.0 million in 2020. It rebounded to $16.6 million in 2021 but softened to $15.6 million in 2022 and $14.2 million by 2023.

External trade dynamics, particularly with Mexico, influenced the regional market context. In 2023, Mexico's total trade in beeswax and other insect waxes reached $1.85 million, with Germany, the United States, and France as key importers, highlighting the exposure to global demand shifts. By 2024, Mexico's international trade in these waxes expanded to $19.6 million, and Costa Rica emerged as a major destination, underscoring the deepening commercial integration within Central America.

Production non-vegetable waxes in Central America

In kind, 2017-2020, t

Top producers of non-vegetable waxes, 2017-2020

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

Central America's production of non-vegetable waxes has declined for the second year in a row. In 2020, the region produced 1 684 tonnes, marking a significant 17.5% drop from 2019. Looking at the period from 2017 to 2020, production fell by 16.2%, which translates to an average annual decrease of 5.7%. The highest production level was recorded in 2018 at 2 076 tonnes, when output grew by 3.2%.

Annual dynamics of production in Central America in kind, 2017-2020, t

In value, 2017-2020, K $ US

Central America's non-vegetable waxes production has decreased for the second consecutive year. In 2020, the output was valued at 11 318 thousand US dollars, a sharp 28.0% decline compared to the previous year. From 2017 to 2020, production value dropped by 29%, averaging an annual reduction of 10.8%. The peak value occurred in 2018 at 17 358 thousand US dollars, with an 8.9% increase that year.

Annual dynamics of production in Central America in value, 2017-2020, K $ US

Exports non-vegetable waxes from Central America

Exports in kind, t

Market performance showed notable fluctuations during this period. The lowest export volume was recorded in 2018 at 1.5 tonnes, while the highest reached 3.7 tonnes in 2020, creating a peak-to-trough ratio of 2.4 times. In 2020, Central America exported 3.7 tonnes of non-vegetable waxes, representing a modest year-over-year gain of 3.4%. The largest decline occurred in 2018 at 48.4%, followed by a substantial increase of 135.3% in 2019.

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

From 2017 to 2020, the United States (4.1% of exports in kind), Dominican Republic (3.1%), and Curacao (0.9%) were consistently the main destinations for Central America's non-vegetable waxes exports. Together, these three markets accounted for 8.1% of total export flows.

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

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

Exports in value, K $ US

The export market experienced significant fluctuations during this period. The lowest value was recorded in 2018 at 13 thousand US dollars, while exports peaked in 2019 at 27 thousand US dollars, representing a 2.2-fold difference. In 2020, non-vegetable waxes exports from Central America amounted to 25 thousand US dollars, showing a 9.8% decrease compared to the previous year. The largest decline occurred in 2018 at 45.6%, followed by a sharp increase of 116.7% in 2019.

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

Between 2017 and 2020, Dominican Republic (7.3% of exports in value terms), the United States (3.6%), and Curacao (2.3%) were the leading buyers of non-vegetable waxes from Central America. Their combined share reached 13.2% of total export value during this period.

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

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

Imports non-vegetable waxes to Central America

Imports in kind, t

Import volumes showed considerable variation during this period. The lowest level was recorded in 2018 at 112.5 tonnes, while imports peaked in 2020 at 229.8 tonnes, representing a two-fold difference. In 2020, Central America imported 229.8 tonnes of non-vegetable waxes, marking a solid 12.1% increase from 2019. The largest decline occurred in 2018 at 26.1%, followed by a substantial 82.2% increase in 2019.

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

From 2017 to 2020, the United States (62.1% of total flows) and Germany (26.7%) dominated Central America's non-vegetable waxes imports, together accounting for 88.8% of total import volume. Other trading partners made up the remaining share.

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

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

Imports in value, K $ US

Import values exhibited noticeable fluctuations during this period. The minimum was recorded in 2018 at 899 thousand US dollars, while imports reached their peak in 2020 at 1 734 thousand US dollars, representing a 1.9-fold increase. In 2020, cross-border shipments of non-vegetable waxes to Central America stood at 1 734 thousand US dollars, showing a 10.2% year-over-year increase. The largest decline occurred in 2018 at 19.7%, followed by a 75.0% increase in 2019.

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

Between 2017 and 2020, the United States and Germany remained the primary sources for Central America's non-vegetable waxes imports in value terms. Together, these two countries accounted for 91.6% of total import flows, with other partners comprising the remaining share.

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

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