Global Wax Market is estimated to reach $11.6 billion by 2024; growing at a CAGR of 4.3% from 2016 to 2024.In terms of volume, the market was valued at 4,929kilo tons in 2016 and expected to reach 6,473kilo tons by 2024, at a CAGR of 3.5% from 2016to2024. Wax is a distinct category of organic compounds that is hydrophobic, and pliable solids close to ambient temperatures. They contain higher lipids and alkanes, normally with melting points above 104 °F, melting into low viscosity liquids. Wax are soluble in organic and nonpolar solvents, but are insoluble in water. Waxes typically consist of long alkyl chains. They also consist of various functional groups such as fatty acids, primary & secondary long-chain of alcohols, aromatics, ketones, amides, unsaturated bonds, and aldehydes.
Global Wax Market Size and Forecast, 2015 – 2024 (US$ Billion)
The factors driving the growth of global wax market are rising demand from various applications such as, candle, packaging, cosmetics, coating & polishes, and increasing acceptance of synthetic waxes. However, shrinking supply of paraffin wax, and increasing prices of synthetic & bio-based waxes may hinder the growth of the market. Moreover, growing demand for unconventional waxes is expected to open up new growth opportunities for the market in the coming years.
The global wax market is mainly classified on the basis of product type, application, and geography. On the basis of product type, the marketconsists of petroleum and mineral wax (paraffin wax, microcrystalline wax and others), synthetic wax (polymer wax, GTl wax, and others), and natural wax (vegetable wax, animal & insect wax, and others). By application, the market comprises candles, packaging, board sizing, rheology surface applications, health industries, cosmetics, and other applications.
Global Wax Market, by Product Type
Based on geography, global wax market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Global Wax Market Regional Revenue % (2016 Vs 2024)
The key market players includeRoyal Dutch Shell Plc, Sinopec Corp.,Exxon Mobil Corp.,Sasol Limited, Petróleo Brasileiro S.A., PJSC Lukoil,HCl WAX, The Blayson Group Ltd, Numaligarh Refinery Limited,andInternational Group, Inc. among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Wax Marketwith respect to major segments such as product type, application, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Wax Market has been included in the report
- Profile of the key players in the Global Wax Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Wax Market
Product Type Segments
- Petroleum and Mineral Wax
- Paraffin Wax
- Microcrystalline Wax
- Synthetic Wax
- Polymer Wax
- GTL Wax
- Natural Wax
- Vegetable Wax
- Animal & Insect Wax
- Board Sizing
- Rheology Surface Applications
- Health Industries
- Other Applications
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
- South America
- Middle East
Global Wax Market Primary Interviews by Geography