Non-vegetable waxes market in MERCOSUR

Earlier Report Observations

The market volume for non-vegetable waxes in MERCOSUR grew from 7 683 t in 2018 to 7 907 t in 2020. This gradual expansion occurred alongside the bloc's ongoing economic integration, which emphasized the free movement of goods and services among member states, facilitating regional trade. While the global COVID-19 pandemic impacted supply chains in 2020, the market demonstrated resilience and continued to grow.

Market volume peaked at 8 213 t in 2021, supported by a broad increase in intra-bloc exports and imports within MERCOSUR. A decline to 7 959 t followed in 2022, coinciding with global factors such as lower demand and fluctuating raw material prices linked to the oil market, which affected the competitiveness of wax products. The bloc's institutional strengthening provided a stable backdrop despite these external pressures.

By 2023, the market recovered to 8 197 t. This rebound aligned with Bolivia's accession as a full MERCOSUR member and the approval of a new rules-of-origin regime, simplifying regional trade. In 2024, the signing of the MERCOSUR-European Union Association Agreement promised gradual tariff reductions, while growing demand for wax emulsions in cosmetics, paints, and coatings, driven by consumer trends toward sustainability, offered new avenues for market growth.

Production non-vegetable waxes in MERCOSUR

In kind, 2017-2020, t

Top producers of non-vegetable waxes, 2017-2020

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

MERCOSUR's production of non-vegetable waxes has grown for the third year in a row. In 2020, the region produced 8 269 tonnes, marking a modest year-on-year increase of 1.4%. Looking at the period from 2017 to 2020, production rose by 2.7%, which translates to an average annual growth rate of 0.9%.

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

In value, 2017-2020, M $ US

MERCOSUR's production of non-vegetable waxes has increased for the third consecutive year. In 2020, the output was valued at 208.5 million US dollars, representing a significant gain of 18.4% compared to the previous year. Between 2017 and 2020, production surged by 50.2%, equating to an annualized growth rate of 14.5%.

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

Exports non-vegetable waxes from MERCOSUR

Exports in kind, t

In 2020, MERCOSUR's cross-border shipments of non-vegetable waxes amounted to 372.7 tonnes, reflecting a sharp decline of 26.5% from the previous year. Over the period from 2017 to 2020, exports fell by 44.2%, with an annualized decrease of 17.7%. The largest drop occurred in 2018 at 35.2%, while the biggest increase was recorded in 2019 at 17.3%.

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

Between 2017 and 2020, the two leading markets for MERCOSUR's non-vegetable waxes exports in kind were the United States and Japan, which together accounted for 85.3% of the total. The remaining volume was distributed among a wide range of other countries.

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

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

Exports in value, K $ US

In 2020, MERCOSUR's non-vegetable waxes exports were valued at 9 399 thousand US dollars, down by 14.2% compared to the previous year. From 2017 to 2020, exports decreased by 18.4%, with a compound annual growth rate of -6.5%. The lowest value was recorded in 2018 at 8 945 thousand US dollars, which also saw the largest decline of 22.3%. In contrast, the largest increase occurred in 2019 at 22.5%.

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

From 2017 to 2020, the top buyers of MERCOSUR's non-vegetable waxes in value terms were Japan (45.4% of exports), the United States (21.5%), and China (20.0%). Together, these three countries accounted for 87.0% of total export value.

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

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

Imports non-vegetable waxes to MERCOSUR

Imports in kind, t

The data shows irregular changes, indicating a volatile market environment. Imports peaked in 2019 and fell to their lowest level in 2020, with a 2.5-fold difference between these years. In 2020, MERCOSUR's imports of non-vegetable waxes totaled 10.3 tonnes, a decline of 60.6% from the previous year. The maximum volume was recorded in 2019 at 26.1 tonnes, which also saw the largest increase of 152.0%.

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

Between 2017 and 2020, the main sources of MERCOSUR's non-vegetable waxes imports in kind were France (34.8% of imports), India (9.0%), and the United States (7.3%). These three countries together represented 51.1% of total import flows.

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

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

Imports in value, K $ US

The market exhibited volatility during the observed period. Imports reached their peak in 2019 and dropped to their trough in 2020, changing by a factor of three. In 2020, MERCOSUR's imports of non-vegetable waxes stood at 68 thousand US dollars, a sharp reduction of 66.3% compared to 2019. The maximum value was recorded in 2019 at 203 thousand US dollars, which also experienced the largest increase of 72.7%.

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

From 2017 to 2020, the primary suppliers of non-vegetable waxes to MERCOSUR in value terms were India (31.2% of imports), France (10.9%), and the United States (10.7%). Together, these countries comprised 52.8% of total import value.

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

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