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Report
Global Industrial Wax Market Report and Forecast 2023-2028
Market Report I 2023-10-06 I 166 Pages I EMR Inc.
Global Industrial Wax Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global industrial wax market reached a value of USD 11.47 billion in 2022. Aided by the surging demand in various applications such as candles, packaging, cosmetics, and hot-melt adhesives, the market is projected to further grow at a CAGR of 3.40% between 2023 and 2028 to reach a value of USD 14.2 billion by 2028.
Industrial wax is a class of organic substances that are solid at room temperature but become liquid when heated slightly. Sourced from petroleum-based processes, synthetic sources, or plant and animal-based materials, these waxes are employed extensively due to their lubricating, protective, and moisture-retaining properties.
The robust growth in key end-use industries such as packaging, cosmetics, and automotive is fuelling the global industrial wax market growth. Furthermore, the growth of the candle sector, in which wax is a primary raw material, is also significantly contributing to the wax market expansion globally.
One of the major market trends is the rising demand for sustainable, environmentally-friendly products. Consequently, plant-based and synthetic waxes, which were once niche, are gaining mainstream acceptance. These waxes are finding increased adoption in applications where traditional petroleum-based waxes were once the standard.
Furthermore, advanced waxes with higher performance qualities, such as improved stability, lower viscosity, and resistance to sweating (oil separation) are emerging in the market. These products are designed to meet the precise needs of various industrial applications, ranging from the manufacturing of adhesives to high-quality protective coatings for consumer goods and automotive components.
Industrial waxes have a diverse range of applications which is bolstering the industrial wax market size. In the packaging sector, they are used to coat packaging materials, providing them with moisture barrier properties. The cosmetic sector utilises waxes as bases for products such as creams, lipsticks, and lotions, where they impart structure, stability, and a desirable texture.
As per the industrial wax market analysis, one of the most well-known uses for industrial waxes is in the production of candles. The increasing popularity of scented and specialty candles for home decor and aromatherapy applications has played a significant role in driving demand within this segment.
Furthermore, in the automotive and electronics sectors, waxes are used extensively in the production of various components where they act as process aids, or in the formulation of protective and finishing products.
Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Fossil Based Wax
o Mineral Waxes
- Montan Wax (Lignite/Brown Coal)
- Ozokerite
o Petroleum Waxes
- Paraffin Wax (Long-Chain Alkanes)
- Microcrystalline Wax
- Synthetic Based Wax
o Poly-Olefin Waxes/ Alpha-Olefin Waxes
o Fischer-Topsch Waxes (GTL, CTL, BTL)
- Bio-Based Waxes
o Vegetable Waxes (Candelilla Wax, Carnauba Wax)
o Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)
Market Breakup by Application
- Candles
- Packaging
- Coatings and Polishes
- Hot Melt Adhesives
- Tyres and Rubber
- Cosmetics and Personal Care
- Food
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial wax market. Some of the major players explored in the report by Expert Market Research are as follows:
- 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
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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 (2018-2022)
8.3 Global Industrial Wax Market Forecast (2023-2028)
8.4 Global Industrial Wax Market by Type
8.4.1 Fossil Based Wax
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
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 (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
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 (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
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 (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Packaging
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Coatings and Polishes
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Hot Melt Adhesives
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Tyres and Rubber
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Cosmetics and Personal Care
8.5.6.1 Historical Trend (2018-2022)
8.5.6.2 Forecast Trend (2023-2028)
8.5.7 Food
8.5.7.1 Historical Trend (2018-2022)
8.5.7.2 Forecast Trend (2023-2028)
8.5.8 Others
8.6 Global Industrial Wax Market by Region
8.6.1 North America
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
9 North America Industrial Wax Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Sinusitis Drugs Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Sinusitis Drugs Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Sinusitis Drugs Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Sinusitis Drugs Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
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), 2018-2022
3. Global Industrial Wax Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Industrial Wax Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Industrial Wax Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Industrial Wax Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Industrial Wax Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Industrial Wax Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Industrial Wax Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Industrial Wax Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Industrial Wax Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Industrial Wax Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Industrial Wax Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Industrial Wax Market Structure
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