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Industrial Wax Market

Global Industrial Wax Market Growth, Trends, Analysis: By Type: Fossil Based Waxes, Synthetic Based Wax, Bio-Based Waxes; By Application: Candles, Packaging, Coatings and Polishes, Hot Melt Adhesives, Tyres and Rubber, Food, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Industrial Wax Market Outlook

The global industrial wax market attained a value of about USD 11.86 billion in 2023. The industrial wax market is further expected to grow in the forecast period of 2024-2032 at a CAGR of approximately 3.6% to reach USD 16.23 billion by 2032.

 

The Asia Pacific region accounts for the highest market share due to the rising consumption and production of products like coatings, candles, and packaging products.

 

Global Industrial Wax Market

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Properties and Applications

Industrial waxes have excellent lubrication and moisture barrier capabilities and are therefore primarily used in foodstuffs packaging. Such waxes can protect dried foods against humidity or reduce the loss of moisture in the packaged food. However, a wax coating protects food during shipping and handling. In addition, a wax-coated paper is a cost-effective, efficient wrapping, which protects products from moisture, water, and grazing.

 

Global Industrial Wax Market By Type

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Based on its type, the industrial wax market can be divided into:

  • Fossil-Based Waxes
  • Synthetic Based Wax
  • Bio-Based Waxes

Fossil based waxes can be further divided:

  • Mineral Waxes
  • Petroleum Waxes

Mineral waxes can be divided into montan wax (lignite/brown coal) and ozokerite. Petroleum waxes, meanwhile, are divided into paraffin wax (long-chain alkanes) and microcrystalline wax.

Synthetic based wax is segmented into:

  • Poly-Olefin Waxes/ Alpha-Olefin Waxes
  • Fischer-Topsch Waxes (GTL, CTL, BTL)

Bio-based waxes are broadly classified into:

  • Vegetable Waxes (Candelilla Wax, Carnauba Wax)
  • Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)

The industrial wax market can be broadly categorised based on its applications into:

  • Candles
  • Packaging
  • Coatings and Polishes
  • Hot Melt Adhesives
  • Tyres and Rubber
  • Cosmetics and Personal Care
  • Food
  • Others

The EMR report looks into the regional industrial wax markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

 

Global Industrial Wax Market By Region

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Market Analysis

The personal care sector is seeing a significant growth due to the increased consumer demand. Industrial wax is used for the improvement of the viscosity and durability of these personal care products as well as cosmetic products. Thus, the rising demand for personal care products is significantly increasing the demand for industrial wax.

The growing demand for industrial applications has led to an increase in research and development activities. Scientists are also focusing on developing techniques to expand industrial wax applications. Industrial wax is being produced on 3D printers as an alternative to plastic.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global industrial wax market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • China Petroleum and Chemical Corporation
  • Royal Dutch Shell PLC
  • Exxon Mobil Corporation
  • Sasol Limited
  • Numaligarh Refinery Limited
  • Petroleo Brasilerio S.A.
  • NK Lukoil PAO
  • Others

The EMR report gives an in-depth insight into the industrial wax market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces models.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Fossil Based Waxes
  • Synthetic Based Wax
  • Bio-Based Waxes
Breakup by Application
  • Candles
  • Packaging
  • Coatings and Polishes
  • Hot Melt Adhesives
  • Tyres and Rubber
  • Cosmetics and Personal Care
  • Food
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • China Petroleum and Chemical Corporation
  • Royal Dutch Shell PLC
  • Exxon Mobil Corporation
  • Sasol Limited
  • Numaligarh Refinery Limited
  • Petroleo Brasilerio S.A.
  • NK Lukoil PAO
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Industrial Wax Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Industrial Wax Historical Market (2018-2023) 
    8.3    Global Industrial Wax Market Forecast (2024-2032)
    8.4    Global Industrial Wax Market by Type
        8.4.1    Fossil Based Wax
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Mineral Waxes
                    8.4.1.3.1.1    Montan Wax (Lignite/Brown Coal)
                    8.4.1.3.1.2    Ozokerite
                8.4.1.3.2    Petroleum Waxes
                    8.4.1.3.2.1    Paraffin Wax (Long-Chain Alkanes)
                    8.4.1.3.2.2    Microcrystalline Wax 
        8.4.2    Synthetic Based Wax
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
            8.4.2.3    Breakup by Type
                8.4.2.3.1    Poly-Olefin Waxes/ Alpha-Olefin Waxes
                8.4.2.3.2    Fischer-Topsch Waxes (GTL, CTL, BTL)
        8.4.3    Bio-Based Waxes
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
            8.4.3.3    Breakup by Type
                8.4.3.3.1    Vegetable Waxes (Candelilla Wax, Carnauba Wax)
                8.4.3.3.2    Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)
    8.5    Global Industrial Wax Market by Application
        8.5.1    Candles
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Packaging
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Coatings and Polishes 
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Hot Melt Adhesives
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Tyres and Rubber 
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Cosmetics and Personal Care
            8.5.6.1    Historical Trend (2018-2023)
            8.5.6.2    Forecast Trend (2024-2032)
        8.5.7    Food
            8.5.7.1    Historical Trend (2018-2023)
            8.5.7.2    Forecast Trend (2024-2032)
        8.5.8    Others
    8.6    Global Industrial Wax Market by Region       
        8.6.1    North America
            8.5.1.1    Historical Trend (2018-2023) 
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Europe
            8.5.2.1    Historical Trend (2018-2023) 
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Asia Pacific
            8.5.3.1    Historical Trend (2018-2023) 
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Latin America
            8.5.4.1    Historical Trend (2018-2023) 
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Middle East and Africa
            8.5.5.1    Historical Trend (2018-2023) 
            8.5.5.2    Forecast Trend (2024-2032)
9    North America Industrial Wax Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Sinusitis Drugs Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Sinusitis Drugs Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Sinusitis Drugs Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Sinusitis Drugs Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Price Analysis
17    Competitive Landscape

    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    China Petroleum and Chemical Corporation
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Royal Dutch Shell PLC
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Exxon Mobil Corporation
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Sasol Limited
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Numaligarh Refinery Limited
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Petroleo Brasilerio S.A.
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    NK Lukoil PAO
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    Others
18    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Industrial Wax Market: Key Industry Highlights, 2018 and 2032
2.    Global Industrial Wax Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global Industrial Wax Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global Industrial Wax Historical Market: Breakup by Application (USD Million), 2018-2023
5.    Global Industrial Wax Market Forecast: Breakup by Application (USD Million), 2024-2032
6.    Global Industrial Wax Historical Market: Breakup by Region (USD Million), 2018-2023
7.    Global Industrial Wax Market Forecast: Breakup by Region (USD Million), 2024-2032
8.    North America Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2023
9.    North America Industrial Wax Market Forecast: Breakup by Country (USD Million), 2024-2032
10.    Europe Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2023
11.    Europe Industrial Wax Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Asia Pacific Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Asia Pacific Industrial Wax Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Latin America Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Latin America Industrial Wax Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Middle East and Africa Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Middle East and Africa Industrial Wax Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Global Industrial Wax Market Structure

Key Questions Answered in the Report

In 2023, the global industrial wax market attained a value of nearly USD 11.86 billion.

The market is projected to grow at a CAGR of 3.6% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 16.23 billion by 2032.

The major market drivers include the rising consumption and production of products like coatings, candles, and packaging products, the robust growth of the personal care sector, and increasing research and development activities.

The key market trends include the development of innovative technologies to expand industrial wax applications, the surging use of industrial wax in food packaging applications, and the rising use of industrial wax to improve the durability of cosmetics products.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major types of industrial wax in the market are fossil based wax, synthetic based wax, and bio-based wax.

The significant applications of industrial wax include candles, packaging, coatings and polishes, hot melt adhesives, tyres and rubber, cosmetics and personal care, and food, among others.

The major market players include China Petroleum and Chemical Corporation, Royal Dutch Shell PLC, Exxon Mobil Corporation, Sasol Limited, Numaligarh Refinery Limited, Petroleo Brasilerio S.A., and NK Lukoil PAO, among others.

Analyst Review

The global industrial wax market attained a value of USD 11.86 billion in 2023, driven by the increasing consumer demand for personal care products. Aided by the development of new technologies, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 3.6%. The market is projected to reach USD 16.23 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on types, the industrial wax industry can be segmented into fossil-based, synthetic based, and bio-based waxes. On the basis of applications, the industry is divided into candles, packaging, coatings and polishes, hot melt adhesives, tyres and rubber, cosmetics and personal care, food, and others.  The major regional markets for industrial wax are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the leading market share. The key players in the above market include China Petrochemical Corporation, Royal Dutch Shell PLC, Petrobras [Brazilian Government], Exxon Mobil Corporation, Sasol Limited, NK Lukoil PAO, Numaligarh Refinery Limited [Bharat Petroleum], and others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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