The Global Wax Market was valued at US$ 9.3 billion in 2019, the expected CAGR through 2030 is 3%. Expansion of packaging industry, rising demand for candles across decorative & therapeutic applications, expanding cosmetic manufacturing industry, and growth of polymer processing industry globally are the major factors driving the growth of the global wax market. Wax is a temperature and pressure sensitive compound of hydrophobic organic materials. It offers excellent anti-caking, insulation, resistance from microorganisms, UV resistance, and, moisture & odor resistance properties. This has resulted in increased demand for wax across wide range of applications. The demand for wax is increasing rapidly across the globe owing to increased demand for packaging, rubber processing, adhesives, building boards, cosmetics and toiletries and strong penetration in manufacturing of the same. However, disruption in petrochemical production and manufacturing industry across the globe due to implementation of lockdown to prevent spread of COVID-19 is anticipated to impede the growth of global wax market in coming years. The market is anticipated to regain its strength in couple of years and is expected to witness single digit growth during the forecast period.
Asia Pacific contributed a dominating share to the global wax market in 2019 and is anticipated to be a dominating segment throughout the forecast period. The Asia Pacific is expected to be the fastest growing geography during the forecast period owing to rising demand from expanding packaging and cosmetic industry across major countries. Expansion of building & construction industry across emerging countries in Asia is anticipated to fuel the demand for adhesives, thereby contributing towards the growth of wax market during the forecast period. Europe is anticipated to witness prominent growth during the forecast period owing to strong demand for wax from cosmetic manufacturing and presence of wax producers across major countries. North America is expected to be a leading supplier of petroleum & mineral wax during the forecast period owing to increased production of petroleum fueled by discovery shale gas reserves.
Wax Market Share Analysis, by Geography (2021)
The report titled “Wax Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032”, wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global wax market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global wax market is segmented on the basis of product type, application, and geography. Based on product type, the global wax market is segmented into petroleum & mineral wax, synthetic wax, and natural wax. The petroleum & mineral wax is further sub-segmented into paraffin wax, microcrystalline wax, and others. The synthetic wax is further sub-segmented into gas-to-liquids (GTL) wax, polymer wax, and others. The natural wax is further sub-segmented into beeswax, vegetable wax, and others. Based on application, the global wax market is segmented into candles, packaging, wood & fire-logs, rubber, adhesive, cosmetics, toiletries, and others. Based on geography, the global wax market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on wax. Further, market share of prominent companies in the global wax market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the wax companies.
The global wax market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the wax business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global wax market.
Major players active in the global wax market include BASF SE, BP PLC, China National Petroleum Corporation, Evonik Industries AG, Exxon Mobil Corporation, HollyFrontier Corp., Honeywell International Inc., International Group, Inc (IGI), Lukoil Company, Mitsui Chemicals, Nippon Seiro Co., Ltd., Petro-Canada Lubricants Inc., Petroleo Brasileiro S.A. (Petrobras), Petróleos de Venezuela, S.A. (PDVSA), Royal Dutch Shell plc, Sasol Wax, Sinopec Limited, and Total S.A.
Segmentations:
By Product Type:
- Petroleum & mineral wax
- Paraffin wax
- Microcrystalline wax
- Others
- Synthetic wax
- Gas-to-Liquids (GTL) wax
- Polymer wax
- Others
- Natural wax
- Beeswax
- Vegetable wax
- Others
By Application:
- Candles
- Packaging
- Wood & fire-logs
- Rubber
- Adhesive
- Cosmetics
- Toiletries
- Others
By Geography :
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Belgium
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
1. Introduction 1.1. Research Objectives 1.2. Report Assumptions 1.3. Research Methodology 1.4. Abbreviations 2. Preface 2.1. Market Definition 2.2. Report Scope and Market Segmentation 2.3. Research Highlights 3. Market Synopsis: Global Wax Market 4. Global Wax Market Qualitative Analysis 4.1. Ecosystem Analysis 4.1.1. Role of participants 4.1.2. Integration scenario 4.2. Trends 4.2.1. Market trends 4.2.2. Technology Trends 4.3. PESTEL Analysis (For 5 prominent countries) 4.4. Market Influencers 4.4.1. Driving Forces 4.4.2. Hindering Forces 4.4.3. Opportunities 4.5. Technology evolution 5. Global Wax Market Analysis and Forecast, by Product Type 5.1. Overview and definitions 5.2. Key segment analysis 5.3. Global Wax Market Estimates (US$ Mn), by Product Type, 2018 – 2030 5.3.1. Petroleum & mineral wax 5.3.1.1. Paraffin wax 5.3.1.2. Microcrystalline wax 5.3.1.3. Others 5.3.2. Synthetic wax 5.3.2.1. Gas-to-liquids (GTL) wax 5.3.2.2. Polymer wax 5.3.2.3. Others 5.3.3. Natural wax 5.3.3.1. Beeswax 5.3.3.2. Vegetable wax 5.3.3.3. Others 6. Global Wax Market Analysis and Forecast, by Application 6.1. Overview and definitions 6.2. Key segment analysis 6.3. Global Wax Market Estimates (US$ Mn), by Application, 2018 – 2030 6.3.1. Candles 6.3.2. Packaging 6.3.3. Wood & fire-logs 6.3.4. Rubber 6.3.5. Adhesive 6.3.6. Cosmetics 6.3.7. Toiletries 6.3.8. Others 7. Global Wax Market Analysis and Forecast, by Region 7.1. Overview and definitions 7.2. Key segment analysis 7.3. Global Wax Market Estimates (US$ Mn), by Region, 2018 – 2030 7.3.1. North America 7.3.2. Europe 7.3.3. Asia Pacific 7.3.4. Middle East & Africa 7.3.5. South America 8. North America Wax Market Analysis and Forecast 8.1. Overview and definitions 8.2. Key segment analysis 8.3. North America Wax Market Estimates (US$ Mn), by Product Type, 2018 – 2030 8.3.1. Petroleum & mineral wax 8.3.1.1. Paraffin wax 8.3.1.2. Microcrystalline wax 8.3.1.3. Others 8.3.2. Synthetic wax 8.3.2.1. Gas-to-liquids (GTL) wax 8.3.2.2. Polymer wax 8.3.2.3. Others 8.3.3. Natural wax 8.3.3.1. Beeswax 8.3.3.2. Vegetable wax 8.3.3.3. Others 8.4. North America Wax Market Estimates (US$ Mn), by Application, 2018 – 2030 8.4.1. Candles 8.4.2. Packaging 8.4.3. Wood & fire-logs 8.4.4. Rubber 8.4.5. Adhesive 8.4.6. Cosmetics 8.4.7. Toiletries 8.4.8. Others 8.5. North America Wax Market Estimates (US$ Mn), Country, 2018 – 2030 8.5.1. The U.S. 8.5.2. Canada 8.5.3. Rest of North America 9. Europe Wax Market Analysis and Forecast 9.1. Overview and definitions 9.2. Key segment analysis 9.3. Europe Wax Market Estimates (US$ Mn), by Product Type, 2018 – 2030 9.3.1. Petroleum & mineral wax 9.3.1.1. Paraffin wax 9.3.1.2. Microcrystalline wax 9.3.1.3. Others 9.3.2. Synthetic wax 9.3.2.1. Gas-to-liquids (GTL) wax 9.3.2.2. Polymer wax 9.3.2.3. Others 9.3.3. Natural wax 9.3.3.1. Beeswax 9.3.3.2. Vegetable wax 9.3.3.3. Others 9.4. Europe Wax Market Estimates (US$ Mn), by Application, 2018 – 2030 9.4.1. Candles 9.4.2. Packaging 9.4.3. Wood & fire-logs 9.4.4. Rubber 9.4.5. Adhesive 9.4.6. Cosmetics 9.4.7. Toiletries 9.4.8. Others 9.5. Europe Wax Market Estimates (US$ Mn), Country, 2018 – 2030 9.5.1. Germany 9.5.2. United Kingdom 9.5.3. Belgium 9.5.4. Spain 9.5.5. Rest of Europe 10. Asia Pacific Wax Market Analysis and Forecast 10.1. Overview and definitions 10.2. Key segment analysis 10.3. Asia Pacific Wax Market Estimates (US$ Mn), by Product Type, 2018 – 2030 10.3.1. Petroleum & mineral wax 10.3.1.1. Paraffin wax 10.3.1.2. Microcrystalline wax 10.3.1.3. Others 10.3.2. Synthetic wax 10.3.2.1. Gas-to-liquids (GTL) wax 10.3.2.2. Polymer wax 10.3.2.3. Others 10.3.3. Natural wax 10.3.3.1. Beeswax 10.3.3.2. Vegetable wax 10.3.3.3. Others 10.4. Asia Pacific Wax Market Estimates (US$ Mn), by Application, 2018 – 2030 10.4.1. Candles 10.4.2. Packaging 10.4.3. Wood & fire-logs 10.4.4. Rubber 10.4.5. Adhesive 10.4.6. Cosmetics 10.4.7. Toiletries 10.4.8. Others 10.5. Asia Pacific Wax Market Estimates (US$ Mn), Country, 2018 – 2030 10.5.1. Japan 10.5.2. India 10.5.3. China 10.5.4. Australia 10.5.5. Rest of Asia Pacific 11. Middle East & Africa Wax Market Analysis and Forecast 11.1. Overview and definitions 11.2. Key segment analysis 11.3. Middle East & Africa Wax Market Estimates (US$ Mn), by Product Type, 2018 – 2030 11.3.1. Petroleum & mineral wax 11.3.1.1. Paraffin wax 11.3.1.2. Microcrystalline wax 11.3.1.3. Others 11.3.2. Synthetic wax 11.3.2.1. Gas-to-liquids (GTL) wax 11.3.2.2. Polymer wax 11.3.2.3. Others 11.3.3. Natural wax 11.3.3.1. Beeswax 11.3.3.2. Vegetable wax 11.3.3.3. Others 11.4. Middle East & Africa Wax Market Estimates (US$ Mn), by Application, 2018 – 2030 11.4.1. Candles 11.4.2. Packaging 11.4.3. Wood & fire-logs 11.4.4. Rubber 11.4.5. Adhesive 11.4.6. Cosmetics 11.4.7. Toiletries 11.4.8. Others 11.5. Middle East & Africa Wax Market Estimates (US$ Mn), Country, 2018 – 2030 11.5.1. Saudi Arabia 11.5.2. UAE 11.5.3. Rest of Middle East 12. South America Wax Market Analysis and Forecast 12.1. Overview and definitions 12.2. Key segment analysis 12.3. South America Wax Market Estimates (US$ Mn), by Product Type, 2018 – 2030 12.3.1. Petroleum & mineral wax 12.3.1.1. Paraffin wax 12.3.1.2. Microcrystalline wax 12.3.1.3. Others 12.3.2. Synthetic wax 12.3.2.1. Gas-to-liquids (GTL) wax 12.3.2.2. Polymer wax 12.3.2.3. Others 12.3.3. Natural wax 12.3.3.1. Beeswax 12.3.3.2. Vegetable wax 12.3.3.3. Others 12.4. South America Wax Market Estimates (US$ Mn), by Application, 2018 – 2030 12.4.1. Candles 12.4.2. Packaging 12.4.3. Wood & fire-logs 12.4.4. Rubber 12.4.5. Adhesive 12.4.6. Cosmetics 12.4.7. Toiletries 12.4.8. Others 12.5. South America Wax Market Estimates (US$ Mn), Country, 2018 – 2030 12.5.1. Brazil 12.5.2. Rest of South America 13. Competition Analysis – Wax Market 13.1. Market Composition 13.2. Market Share Analysis (%), by Supplier (2019) 13.3. Company Profiles 13.3.1. BASF SE 13.3.1.1. Business overview 13.3.1.2. Management 13.3.1.3. Geographic presence 13.3.1.4. Product portfolio 13.3.1.5. Financial facts 13.3.1.6. Channel partners 13.3.1.7. Relevant news and strategic view 13.3.2. BP PLC 13.3.3. China National Petroleum Corporation 13.3.4. Evonik Industries AG 13.3.5. Exxon Mobil Corporation 13.3.6. HollyFrontier Corp. 13.3.7. Honeywell International Inc. 13.3.8. International Group, Inc (IGI) 13.3.9. Lukoil Company 13.3.10. Mitsui Chemicals 13.3.11. Nippon Seiro Co., Ltd. 13.3.12. Petro-Canada Lubricants Inc. 13.3.13. Petroleo Brasileiro S.A. (Petrobras) 13.3.14. Petróleos de Venezuela, S.A. (PDVSA) 13.3.15. Royal Dutch Shell plc 13.3.16. Sasol Wax 13.3.17. Sinopec Limited 13.3.18. Total S.A. 14. Conclusion & Recommendations
