Press Release
Global Wax Market Is Expected to Reach $11.6 Billion, Says Variant Market Research
 Published Date:  Nov 2017  Publish By: Variant Market Research

Global Wax Market Report, published by Variant Market Research, forecast that the global market is expected to reach $11.6 Billion by 2024 from $8.3 Billion in 2016; growing at a CAGR of 4.3% from 2016 to 2024. By geography, Asia-Pacific and Rest of the World are expected to grow at a CAGR of 4.7% and 4.5%, respectively, during the forecast period.In terms of volume, the market is expected to reach 6,473 Kilo tons by 2024, at a CAGR of 3.5% from 2016 – 2024. Wax is a distinct category of organic compounds that is hydrophobic, and pliable solids close to ambient temperatures. The wax market is growing owing to its many properties, such asexceptional temperature performance, scuff resistance, and excellentchemical & electrical resistance.

“Wax Market (By Product Type: Petroleum and Mineral Wax, Synthetic Wax, and Natural Wax; By Application: Candles, Packaging, Board Sizing, Rheology Surface, Health Industries, Cosmetics, and Other Applications; By Geography: North America, Europe, Asia-Pacific and Row)Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024”

To browse the complete report, visit at https://www.variantmarketresearch.com/report-categories/chemicals-materials/wax-market

Growing adoption of synthetic waxes to drive the growth of global wax market

Growing adoption of synthetic waxes is amongst one of the major factors driving the global wax market. The demand for synthetic wax has increased among consumers owing to its usage as a substitute to naturally available wax.Synthetic waxes are extensively used as additives to create low-cost wax and high-performance wax blends which would be amongst the major attraction of consumers in the future years. Others factors such as, rising applications including candle, coating and polishes, and tire & rubber, among others is supplementing the wax market across various geographies. However,reduction in supply of paraffin wax, and rising prices of synthetic & bio-based waxes may limit the market growth. Rising demand for unconventional waxes is expected to generate various growth opportunities for the market in the forecast period.

Market Segmentation

Product type, application, and geography are the major categorizations considered in the global wax market. Product type segment is classified into petroleum and mineral wax(paraffin wax, microcrystalline wax and others), natural wax(vegetable wax, animal & insect wax, and others), and synthetic wax(polymer wax, GTL wax, and others). On the basis of application, the market comprises candles, board sizing, packaging, rheology surface, health industries, cosmetics, and other applications.

Petroleum and mineral wax dominated the product type segment

Global Wax Market, by Product Type
Global WaxMarket Report, published by Variant Market Research, forecast that the global market is expected to reach $11.6 Billion by 2024 from $8.3 Billion in 2016; growing at a CAGR of 4.3% from 2016 to 2024.

Petroleum & mineral wax dominated the product type segment with major share. The segment accounted for around two-third of the total market share in 2016, and is expected to continue its dominanceduring the forecast period 2016 – 2024. The high growth is majorly seen due to expanding range of applications in in various new industries such as packaging, coatings, and pharmaceuticals. Additionally, increased demand from adhesives, sealants, lubricants, and insecticides, among other applications boost the market in developing regions such as the Asia-Pacific.

Candles dominated the application segment in 2016

Global Wax Market, by Application
Global WaxMarket Report, published by Variant Market Research, forecast that the global market is expected to reach $11.6 Billion by 2024 from $8.3 Billion in 2016; growing at a CAGR of 4.3% from 2016 to 2024.

Candles dominated the application segment and accounted for more than one-third of the global market share in 2016. The high growth is credited due toits wide range of product portfolio with respect to various sizes& shapes, ranging from floating candles, birthday candles, tapers, tealights, pillars, utility candles, jar/container candles, outdoor candles, novelty candles, and liturgical candles.

Asia-Pacific accounted for highest market share in the global wax market


GLOBAL WAX MARKET SHARE BY GEOGRAPHY, 2016 (%)
Global WaxMarket Report, published by Variant Market Research, forecast that the global market is expected to reach $11.6 Billion by 2024 from $8.3 Billion in 2016; growing at a CAGR of 4.3% from 2016 to 2024.

In 2016, Asia-Pacific generated the highestrevenue accounting for 34.9% of the total market share, and is expected to attain the fastest CAGR throughout the forecast period 2016 – 2024. Risingadoption of synthetic waxes, and increasing per capita income in the emerging economies such as India, China and Other Asian Countries,are the factors driving the growth of the Asia-Pacificwax market.

Competitive Landscape

The key players profiled in the market includeThe Blayson Group Ltd, Royal Dutch Shell Plc, Exxon Mobil Corp.,Petrobras Brasileiro S.A., Sasol Limited, PJSC Lukoil, HCl WAX,Numaligarh Refinery Limited, International Group, Inc.,and Sinopec Corp.,among others.

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Chapter 1 Prefix
    1.1 Market Scope
    1.2 Report Description
    1.3 Research Methodology
          1.3.1 Primary Research
          1.3.2 Secondary Research
          1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
Chapter 3 Market Outline
    3.1 Market Inclination, Trend, Outlook and Viewpoint
    3.2 Market Share Analysis: Company’s Competitive Scenario
    3.3 Market Dynamics
          3.3.1 Drivers
                   3.3.1.1 Impact Analysis
          3.3.2 Restraints
                   3.3.2.1 Impact Analysis
          3.3.3 Opportunities
Chapter 4 Global Wax Market by Product Type: Market Size and Forecast, 2015 – 2024
    4.1 Overview
    4.2 Petroleum and Mineral Wax
          4.2.1 Current Trend and Analysis
          4.2.2 Market Size and Forecast
          4.2.3 Paraffin Wax
                   4.2.3.1 Market Size and Forecast
          4.2.4 Microcrystalline Wax
                   4.2.4.1 Market Size and Forecast
          4.2.5 Others
                   4.2.5.1 Market Size and Forecast
    4.3 Synthetic Wax
          4.3.1 Current Trend and Analysis
          4.3.2 Market Size and Forecast
          4.3.3 Polymer Wax
                   4.3.3.1 Market Size and Forecast
          4.3.4 GTL Wax
                   4.3.4.1 Market Size and Forecast
          4.3.5 Others
                   4.3.5.1 Market Size and Forecast
    4.4 Natural Wax
          4.4.1 Current Trend and Analysis
          4.4.2 Market Size and Forecast
          4.4.3 Vegetable Wax
                   4.4.3.1 Market Size and Forecast
          4.4.4 Animal & Insect Wax
                   4.4.4.1 Market Size and Forecast
          4.4.5 Others
                   4.4.5.1 Market Size and Forecast
Chapter 5 Global Wax Market by Application: Market Size and Forecast, 2015 – 2024
    5.1 Overview
    5.2 Candles
          5.2.1 Current Trend and Analysis
          5.2.2 Market Size and Forecast
    5.3 Packaging
          5.3.1 Current Trend and Analysis
          5.3.2 Market Size and Forecast
    5.4 Board Sizing
          5.4.1 Current Trend and Analysis
          5.4.2 Market Size and Forecast
    5.5 Rheology Surface Applications
          5.5.1 Current Trend and Analysis
          5.5.2 Market Size and Forecast
    5.6 Health Industries
          5.6.1 Current Trend and Analysis
          5.6.2 Market Size and Forecast
    5.7 Other Applications
          5.7.1 Current Trend and Analysis
          5.7.2 Market Size and Forecast
Chapter 6 Global Wax Market by Geography: Market Size and Forecast, 2015 – 2024
    6.1 Overview
    6.2 North America
          6.2.1 Current Trend and Analysis
          6.2.2 Market Size and Forecast
          6.2.3 US
                   6.2.3.1 Market Size and Forecast
          6.2.4 Canada
                   6.2.4.1 Market Size and Forecast
          6.2.5 Mexico
                   6.2.5.1 Market Size and Forecast
    6.3 Europe
          6.3.1 Current Trend and Analysis
          6.3.2 Market Size and Forecast
          6.3.3 UK
                   6.3.3.1 Market Size and Forecast
          6.3.4 Russia
                   6.3.4.1 Market Size and Forecast
          6.3.5 Germany
                   6.3.5.1 Market Size and Forecast
          6.3.6 France
                   6.3.6.1 Market Size and Forecast
          6.3.7 Rest of Europe
                   6.3.7.1 Market Size and Forecast
    6.4 Asia-Pacific
          6.4.1 Current Trend and Analysis
          6.4.2 Market Size and Forecast
          6.4.3 India
                   6.4.3.1 Market Size and Forecast
          6.4.4 China
                   6.4.4.1 Market Size and Forecast
          6.4.5 Japan
                   6.4.5.1 Market Size and Forecast
          6.4.6 Rest of Asia-Pacific
                   6.4.6.1 Market Size and Forecast
    6.5 RoW
          6.5.1 Current Trend and Analysis
          6.5.2 Market Size and Forecast
          6.5.3 Middle East
                   6.5.3.1 Market Size and Forecast
          6.5.4 South America
                   6.5.4.1 Market Size and Forecast
          6.5.5 Africa
                   6.5.5.1 Market Size and Forecast
Chapter 7 Company Profiles
    7.1 Royal Dutch Shell Plc
    7.2 Sinopec Corp.
    7.3 Exxon Mobil Corp.
    7.4 Sasol Limited
    7.5 Petróleo Brasileiro S.A.
    7.6 PJSC Lukoil
    7.7 HCl WAX
    7.8 The Blayson Group Ltd
    7.9 Numaligarh Refinery Limited
    7.10 International Group, Inc.

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