Non-vegetable waxes market in South America

Earlier Report Observations

The market for non-vegetable waxes in South America expanded from 8 535 t in 2018 to 9 094 t in 2023, despite a temporary dip to 8 796 t in 2022. This overall growth was primarily fueled by a global rise in demand for natural and sustainable products, especially in cosmetics and personal care. Consumer preferences increasingly shifted towards ingredients like beeswax due to its anti-inflammatory and antibacterial properties, supporting market expansion throughout the period.

The COVID-19 pandemic in 2020 accelerated demand for bio-based waxes as consumers sought natural alternatives, contributing to market growth. Subsequent innovations, such as the 2022 development in Brazil of eco-friendly and biodegradable paraffin based on beeswax mixed with plant products, offered new high-performance and sustainable options. These advancements helped modernize local production and cater to evolving consumer preferences.

Strengthened production and commercialization of organic wax in Chile, with an emphasis on organic certification and improved extraction technologies, enhanced operational efficiency and product quality. Concurrently, growth in international trade for vegetable and beeswaxes, with key export destinations including the United States and Germany, reflected South America's deeper integration into global supply chains, further supporting the market.

Production non-vegetable waxes in South America

In kind, 2017-2020, t

Top producers of non-vegetable waxes, 2017-2020

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

South America's production of non-vegetable waxes has grown for the third year in a row. In 2020, the region produced 9 055 tonnes, marking a modest year-over-year increase of 1.3%. Looking at the period from 2017 to 2020, production rose by 2.5%, which translates to an average annual growth rate of 0.8%.

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

In value, 2017-2020, M $ US

The value of non-vegetable waxes production in South America has also increased for three consecutive years. In 2020, output was valued at 219.5 million US dollars, up 13.7% compared to the previous year. From 2017 to 2020, production value surged by 46.3%, equivalent to an annualized growth rate of 13.5%.

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

Exports non-vegetable waxes from South America

Exports in kind, t

South America's exports of non-vegetable waxes in volume terms declined in 2020, with shipments totaling 393.8 tonnes, down 22.4% year-over-year. Over the 2017-2020 period, exports fell by 42.8%, averaging an annual decrease of 17.0%. The most significant drop occurred in 2018, at 35.7%, while the largest increase was in 2019, at 14.7%.

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

From 2017 to 2020, the United States and Japan were the primary export partners for non-vegetable waxes in volume terms, together accounting for 85.6% of total flows, with other countries making up the remainder.

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

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

Exports in value, K $ US

In 2020, the value of non-vegetable waxes exports from South America amounted to 9 544 thousand US dollars, showing a substantial decline of 12.9% from the previous year. Between 2017 and 2020, export value decreased by 18.4%, with an average annual drop of 6.5%. The lowest value was recorded in 2018 at 9 019 thousand US dollars, which also saw the largest decline of 22.9%. In contrast, the largest increase occurred in 2019, at 21.5%.

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

During 2017-2020, Japan, the United States, and China were the leading markets for non-vegetable waxes exports in value terms from South America. Japan accounted for 45.2% of exports, the United States for 22.1%, and China for 19.8%, collectively representing 87.1% of total flows.

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

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

Imports non-vegetable waxes to South America

Imports in kind, t

Import volumes of non-vegetable waxes into South America showed significant volatility from 2017 to 2020. The peak was in 2019 at 136.6 tonnes, while the trough was in 2020 at 38.0 tonnes, resulting in a 3.6-fold difference between these years. In 2020, imports fell sharply by 72.5% year-over-year. The largest increase was recorded in 2019, at 54.2%.

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

From 2017 to 2020, the United States, France, and China were the top sources for non-vegetable waxes imports into South America in volume terms. The United States led with 63.0% of imports, followed by France at 8.3% and China at 7.6%, together making up 78.9% of total flows.

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

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

Imports in value, K $ US

Imports of non-vegetable waxes into South America in value terms declined for the second consecutive year in 2020, reaching 280 thousand US dollars, down 49.4% from the previous year. Over the 2017-2020 period, import value dropped by 54.6%, with an average annual decrease of 23.1%. The highest value was in 2018 at 703 thousand US dollars, which also saw the largest increase of 13.9%.

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

Throughout 2017-2020, the United States, Germany, and France were the key markets for non-vegetable waxes imports into South America in value terms. The United States accounted for 46.7% of imports, Germany for 12.4%, and France for 9.1%, collectively representing 68.2% of total flows.

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

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