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United States Wax Market Size, Share, Trends, Analysis: By Type: Mineral Wax, Natural Wax, Synthetic Wax; By Application: Cosmetics, Candles, Emulsions, Packaging, Floor Polishes, Hot Belts, Pharmaceuticals, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
United States Wax Market Outlook
The United States wax market size is projected to grow at a CAGR of 4.1% between 2024 and 2032. The major drivers of the market include expansion of the healthcare and pharmaceutical sectors and rising emphasis towards the development of eco-friendly wax.
Key Trends in the Market
Wax refers to an organic, lipophilic compound that turns solid at room temperature and liquid when subjected to heat. The compound is effective in mould release, polishing, dispersion, and water repulsion, among others. It finds usage in both industrial and daily use products.
- The expansion of the healthcare and pharmaceutical sectors is aiding the United States wax market growth. Pharmaceutical waxes are used in the creation of different types of lotions, creams, and ointments and in controlled-release formulations for different active compounds.
- Increasing investments on vehicle maintenance is bolstering the requirement for wax in the United States. The application of car wax on vehicles creates a hydrophobic effect that increases the lifespan of the paint, provides a glossy finish, and makes the cleaning process easier.
- Increasing investments by the key players of the market towards the development of eco-friendly wax owing to rising environmental concerns and growing strictness of various regulations is providing lucrative growth opportunities to the market.
United States Wax Market Analysis
On the basis of type, the market is divided into mineral wax, natural wax, and synthetic wax. Based on application, the market is classified into cosmetics, candles, emulsions, packaging, floor polishes, hot belts, and pharmaceuticals, among others.
On the basis of region, the United States wax market segmentation includes New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- BASF SE
- The International Group, Inc.
- Exxon Mobil Corporation
- Evonik Industries AG
- Cargill, Incorporated
- Westech Wax Products
- AAK AB
- HollyFrontier Corporation
- Others
Market Share by Type
Mineral wax is anticipated to account for a United States wax market share over the forecast period. This growth can be attributed to the rising utilisation of the wax in cosmetic formulation. The ester and alcohol-free nature of the mineral wax is boosting its adoption by various sectors including food sector. The usage of mineral wax as coatings on vegetables and fruits aids in the preservation of freshness and extends the shelf life of the food product.
Market Share by Application
Candles account for a significant share of the market owing to the growing popularity of aromatherapy across the United States. Aromatherapy is known to reduce stress and promote relaxation. The increasing availability of candles with varying designs, shapes, colours, and fragrances for the celebration of different occasions is propelling the purchase of candles and boosting the United States wax market demand. The rising disposable incomes in the country and increasing emphasis on home decor is augmenting the requirement for candles.
Competitive Landscape
BASF SE is a chemical manufacturing company that was founded in 1865 and is headquartered in Ludwigshafen, Germany. The company’s portfolio comprises of nutrition and care, industrial solutions, agriculture solutions, and nutrition and care, among others.
The International Group, Inc., headquartered in Ontario, Canada, is a chemical manufacturing company that specialises in synthetic waxes, scented candles, repulpable coatings, beehive waxes, structuring agents, and petroleum jelly, among others.
Exxon Mobil Corporation is a natural gas company that was founded in 1999 and is headquartered in Texas, United States. The company is dedicated towards developing new technologies for reducing emissions and creating more efficient fuels.
Other United States wax market key players include Evonik Industries AG, Cargill, Incorporated, Westech Wax Products, AAK AB, and HollyFrontier Corporation, among others.
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:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Wax Market Overview
8.1 Key Industry Highlights
8.2 North America Wax Historical Market (2018-2023)
8.3 North America Wax Market Forecast (2024-2032)
8.4 North America Wax Market Share by Country
8.4.1 United States
8.4.2 Canada
9 United States Wax Market Overview
9.1 Key Industry Highlights
9.2 United States Wax Historical Market (2018-2023)
9.3 United States Wax Market Forecast (2024-2032)
10 United States Wax Market by Type
10.1 Mineral Wax
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Natural Wax
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Synthetic Wax
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 United States Wax Market by Application
11.1 Cosmetics
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Candles
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Emulsions
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Packaging
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Floor Polishes
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Hot Belts
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
11.7 Pharmaceuticals
11.7.1 Historical Trend (2018-2023)
11.7.2 Forecast Trend (2024-2032)
11.8 Others
12 United States Wax Market by Region
12.1 New England
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mideast
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Great Lakes
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Plains
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Southeast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Southwest
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Rocky Mountain
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Far West
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 BASF SE
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 The International Group, Inc.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Exxon Mobil Corporation
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Evonik Industries AG
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Cargill, Incorporated
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Westech Wax Products
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 AAK AB
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 HollyFrontier Corporation
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Wax Market: Key Industry Highlights, 2018 and 2032
2. United States Wax Market: Key Industry Highlights, 2018 and 2032
3. United States Wax Historical Market: Breakup by Type (USD Million), 2018-2023
4. United States Wax Market Forecast: Breakup by Type (USD Million), 2024-2032
5. United States Wax Historical Market: Breakup by Form (USD Million), 2018-2023
6. United States Wax Market Forecast: Breakup by Form (USD Million), 2024-2032
7. United States Wax Historical Market: Breakup by Application (USD Million), 2018-2023
8. United States Wax Market Forecast: Breakup by Application (USD Million), 2024-2032
9. United States Wax Historical Market: Breakup by Region (USD Million), 2018-2023
10. United States Wax Market Forecast: Breakup by Region (USD Million), 2024-2032
11. United States Wax Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The major market drivers include expansion of the healthcare and pharmaceutical sectors and rising emphasis towards the development of eco-friendly wax.
The key trends fuelling the growth of the market include increasing investments on vehicle maintenance and rising requirement from the cosmetics sector.
The major regions in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The applications of wax include cosmetics, candles, emulsions, packaging, floor polishes, hot belts, and pharmaceuticals, among others.
Waxes are lipophilic in nature and turn in malleable solids at ambient temperatures.
The significant types include mineral wax, natural wax, and synthetic wax.
The key players in the market are BASF SE, The International Group, Inc., Exxon Mobil Corporation, Evonik Industries AG, Cargill, Incorporated, Westech Wax Products, AAK AB, and HollyFrontier Corporation, among others.
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