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Report
Wax Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-09-04 I 145 Pages I IMARC Group
Market Overview:
The global wax market size reached US$ 10.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.
Wax refers to a diverse class of organic compounds that appear as lipophilic and malleable solids at room temperature. It is derived from various plants, animals, petroleum, minerals, and synthetic sources. It is insoluble in water but soluble in organic, non-polar solvents and is widely employed as an additive and base material to aid processing. It is also used to manufacture candles, coatings, adhesives, cosmetics and personal care products, rubber, and automotive polishes. In recent years, wax has gained traction across numerous industries due to its excellent insulation, anti-caking properties, and resistance to ultraviolet (UV) rays, microorganisms, moisture, and odor.
Wax Market Trends:
Significant growth in the end use sectors and emerging product applications represent the primary factors driving the market growth. For instance, wax is extensively used in the cosmetics and personal care industries to thicken formulations, provide stability to products with emollient and protective qualities, and enhance their viscosity and consistency. As a result, the escalating demand for personal care products due to improving focus on physical appearance, changing lifestyles, and inflating consumer disposable incomes is catalyzing the market growth. Besides this, the growing utilization of wax in hot melt adhesives, printing ink formulations, and coating solutions is augmenting the product demand. Additionally, wax is gaining traction in flexible packaging, food containers, folding cartons, corrugated containers, and paper cups due to its water-, moisture-, and vapor-resistant properties. Along with this, the rising popularity of scented candles as luxury and decorative gift items is propelling the market growth. Furthermore, the leading manufacturers are making heavy investments in the development of bio-based wax, such as vegetable wax, to meet the growing consumer demand for eco-friendly and renewable products and expand their product portfolio. Other factors, including the increasing usage of adhesives, extensive research and development (R&D) activities, product innovations, rapid urbanization, and technological advancements, are also creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global wax market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form and application.
Breakup by Type:
Mineral Wax
Synthetic Wax
Natural Wax
Others
Breakup by Form:
Flakes
Granules
Powder
Others
Breakup by Application:
Candles
Cosmetics
Packaging
Emulsions
Hot Melts
Floor Polishes
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Baker Hughes Company, BASF SE, Cepsa, China Petrochemical Corporation, Eni S.p.A., Evonik Industries AG, Exxon Mobil Corporation, HF Sinclair Corporation, Honeywell International Inc., Mitsui Chemicals Inc., Nippon Seiro Co. Ltd., Sasol Limited and Shell plc.
Key Questions Answered in This Report
1. What was the size of the global wax market in 2022?
2. What is the expected growth rate of the global wax market during 2023-2028?
3. What are the key factors driving the global wax market?
4. What has been the impact of COVID-19 on the global wax market?
5. What is the breakup of the global wax market based on the type?
6. What is the breakup of the global wax market based on the application?
7. What are the key regions in the global wax market?
8. Who are the key players/companies in the global wax market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Wax Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Mineral Wax
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Synthetic Wax
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Natural Wax
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Form
7.1 Flakes
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Granules
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Powder
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Candles
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Cosmetics
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Packaging
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Emulsions
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Hot Melts
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Floor Polishes
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Others
8.7.1 Market Trends
8.7.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Baker Hughes Company
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 BASF SE
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Cepsa
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 SWOT Analysis
14.3.4 China Petrochemical Corporation
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Eni S.p.A.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Evonik Industries AG
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.7 Exxon Mobil Corporation
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 HF Sinclair Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Honeywell International Inc.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.10 Mitsui Chemicals Inc.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Nippon Seiro Co. Ltd.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.12 Sasol Limited
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
14.3.13 Shell plc
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio
14.3.13.3 Financials
Figure 1: Global: Wax Market: Major Drivers and Challenges
Figure 2: Global: Wax Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Wax Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Wax Market: Breakup by Type (in %), 2022
Figure 5: Global: Wax Market: Breakup by Form (in %), 2022
Figure 6: Global: Wax Market: Breakup by Application (in %), 2022
Figure 7: Global: Wax Market: Breakup by Region (in %), 2022
Figure 8: Global: Wax (Mineral Wax) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Wax (Mineral Wax) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Wax (Synthetic Wax) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Wax (Synthetic Wax) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Wax (Natural Wax) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Wax (Natural Wax) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Wax (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Wax (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Wax (Flakes) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Wax (Flakes) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Wax (Granules) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Wax (Granules) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Wax (Powder) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Wax (Powder) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Wax (Other Forms) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Wax (Other Forms) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Wax (Candles) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Wax (Candles) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Wax (Cosmetics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Wax (Cosmetics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Wax (Packaging) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Wax (Packaging) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Wax (Emulsions) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Wax (Emulsions) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Wax (Hot Melts) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Wax (Hot Melts) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Wax (Floor Polishes) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Wax (Floor Polishes) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: Wax (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Global: Wax (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: North America: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: North America: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: United States: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: United States: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Canada: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Canada: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Asia-Pacific: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Asia-Pacific: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: China: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: China: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Japan: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Japan: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: India: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: India: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: South Korea: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: South Korea: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Australia: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Australia: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Indonesia: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Indonesia: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Others: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Others: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Europe: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Europe: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Germany: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Germany: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: France: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: France: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: United Kingdom: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: United Kingdom: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Italy: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Italy: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Spain: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Spain: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Russia: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Russia: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Others: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Others: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Latin America: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Latin America: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Brazil: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Brazil: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Mexico: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Mexico: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Others: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: Others: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Middle East and Africa: Wax Market: Sales Value (in Million US$), 2017 & 2022
Figure 85: Middle East and Africa: Wax Market: Breakup by Country (in %), 2022
Figure 86: Middle East and Africa: Wax Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Global: Wax Industry: SWOT Analysis
Figure 88: Global: Wax Industry: Value Chain Analysis
Figure 89: Global: Wax Industry: Porter's Five Forces Analysis
Table 1: Global: Wax Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Wax Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Wax Market Forecast: Breakup by Form (in Million US$), 2023-2028
Table 4: Global: Wax Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Wax Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Wax Market: Competitive Structure
Table 7: Global: Wax Market: Key Players
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