Non-vegetable waxes market in the United States

Earlier Report Observations

The US non-vegetable wax market, including beeswax and spermaceti, showed initial stability in volume, with market size hovering around 3.3 thousand tons in 2018 and 2019. However, in value terms, it declined from $27.4 million to $24.0 million over the same period. A significant downturn occurred in 2020, when the market volume dropped to 2.6 thousand tons and its value fell to $19.4 million.

A strong recovery followed in 2021, with volume surging to 3.9 thousand tons and value rising to $25.9 million. The market then stabilized in 2022 at 3.8 thousand tons, while its value increased to $29.9 million. In 2023, both volume and value contracted, falling to 3.4 thousand tons and $24.4 million, respectively. This decline was influenced by a 5% increase in paraffin wax prices due to rising crude oil costs, which elevated production expenses and market prices, dampening demand. Concurrent volatility in crude oil prices further disrupted supply and pricing for petroleum-derived waxes.

Production non-vegetable waxes in the United States

In kind, 2017-2020, t

From 2017 to 2020, the United States ranked 10th globally in the production of non-vegetable waxes.

Top producers of non-vegetable waxes, 2017-2020

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

In 2020, the United States produced 1,584 tons of non-vegetable waxes, showing minimal change compared to 2019. The largest decline occurred in 2018, at 0.1%, while the largest increase was recorded in 2019, at 0.0%.

Annual dynamics of production in the United States in kind, 2017-2020, t

In value, 2017-2020, K $ US

The United States saw its non-vegetable waxes production volume increase for the second consecutive year. In 2020, the output was valued at 7,110 thousand US dollars, marking a gain of 2.7% compared to the previous year. The minimum value was recorded in 2018 at 6,742 thousand US dollars, with the largest decline that year at 3.9%. The largest increase occurred in 2019, at 2.7%.

Annual dynamics of production in the United States in value, 2017-2020, K $ US

Exports non-vegetable waxes from the United States

Exports in kind, t

Cross-border shipments of non-vegetable waxes from the United States declined for the third consecutive year. In 2020, the export volume reached 1,966 tons, corresponding to a moderate decrease of 4.5% year-over-year. Over the period from 2017 to 2020, exports decreased by 45.5%, with a compound annual growth rate of 18.3%.

Annual dynamics of product's exports from the United States in kind, 2017-2020, t

During 2017 to 2020, exports in kind of non-vegetable waxes from the United States were distributed across numerous markets. Canada accounted for 20.3% of exports in kind, the Netherlands for 13.3%, and South Korea for 10.9%, together making up only 44.5% of total flows.

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

World map of product's exports from the United States in kind, 2017-2020

Exports in value, K $ US

Foreign non-vegetable waxes supplies from the United States declined for the third consecutive year. In 2020, the United States exported 8,821 thousand US dollars of non-vegetable waxes, which is 1.8% less than the previous year. Between 2017 and 2020, exports decreased by 44.7%, equating to an annualized rate of 17.9%.

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

The structure of exports in value terms from 2017 to 2020 can be described as diversified. Canada accounted for 19.3% of exports in value terms, the Netherlands for 16.1%, and Germany for 12.7%, together representing just 48.1% of total flows, with no country holding a clearly dominant position.

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

World map of product's exports from the United States in value, 2017-2020

Imports non-vegetable waxes to the United States

Imports in kind, t

The volume of non-vegetable waxes imports into the United States declined for the second consecutive year. In 2020, imports tallied 2,979 tons, representing a substantial decline of 22.2% compared with 2019. Between 2017 and 2020, imports decreased by 28%, equating to an annualized rate of 10.4%. The maximum value was recorded in 2018 at 4,469 tons, with the largest increase that year at 8.1%.

Annual dynamics of product's imports to the United States in kind, 2017-2020, t

From 2017 to 2020, China, Vietnam, and Canada consistently occupied leading positions in the country structure of imports in kind. China accounted for 38.1% of imports in kind, Vietnam for 16.9%, and Canada for 9.4%, jointly accounting for 64.4% of total flows.

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

World map of product's imports to the United States in kind, 2017-2020

Imports in value, K $ US

The volume of non-vegetable waxes imports into the United States declined for the second consecutive year. In 2020, imports totaled 21,095 thousand US dollars, reflecting a strong drop of 18.9% over the past year. Over the period from 2017 to 2020, imports decreased by 34.3%, with a compound annual growth rate of 13.1%. The maximum value was recorded in 2018 at 32,337 thousand US dollars, with the largest decline in 2019 at 19.5% and the largest increase in 2018 at 0.6%.

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

Throughout 2017 to 2020, China, Vietnam, and Canada formed the core group of markets for imports in value terms. China accounted for 35.2% of imports in value terms, Vietnam for 17.5%, and Canada for 10.7%, together representing 63.5% of total flows.

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

World map of product's imports to the United States in value, 2017-2020