Market Overview:
The global industrial wax market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for candles, packaging, coatings & polishing, hot melt adhesive, tires & rubber and cosmetics & personal care products. In terms of type, the fossil based segment is expected to dominate the market during the forecast period. However, bio-based industrial waxes are projected to grow at a higher CAGR owing to their environmental friendly nature and superior properties as compared with other types of industrial waxes.
Product Definition:
Industrial wax is a synthetic wax that is used as an additive in paints, coatings, and sealants. It helps to improve the flow and leveling of the coating, and it also increases the hardness and gloss of the finished product.
Fossil Based:
Fossil based products are the solid remains or fossilized plants and animals that were living in the past. The term is generally used for referring to carbon-rich organic substances including coal, tar, oil shale, and petroleum. Fossil fuels are formed from plant material that was compressed over a long period of time; these fuels contain energy which can be utilized by the industries for producing various chemicals as well as heat & light.
Synthetic Based:
Synthetic-based waxes are produced from petroleum or natural gas. They are usually preferred over their counterparts as they have a higher melting point and better viscosity. Also, these products do not contain animal or plant fats which makes them suitable for vegan consumers.
The demand for synthetic based wax is increasing owing to its superior properties such as high melting point and low volatility than paraffin waxes, petrolatum, & beeswax.
Application Insights:
Candles were the largest application segment in 2017 and are projected to witness significant growth over the forecast period. The candles manufactured from natural waxes have a longer shelf life as compared to those made from petroleum-based products. Furthermore, these candles offer better heat retention properties which make them ideal for use in electric candle warmers or electric candles. These factors are likely to drive demand for synthetic and bio based waxes over the coming years.
Packaging was another prominent segment accounting for a share of 22% in 2017 owing to growing demand for packaging solutions that address specific requirements of various industries such as food & beverage, medical devices, industrial machinery and electronics among others. Wax coatings play an important role in providing protection against moisture loss due to water vapor during transportation and storage along with enhancing the aesthetic appeal of final products such as bottles, cartons among others used within packaged foods industry worldwide.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Vietnam among others. Increasing population coupled with rising living standards have resulted in an increased demand for household products such as candles and packaging materials such as corrugated boxes that are manufactured using waxes. This trend is projected to propel industry growth over the coming years.
Europe accounted for a significant share of revenue in 2017 owing to high demand from end-use industries such as coatings & polishing, hot melt adhesives and tires & rubber applications majorly located across Germany, U.K.
Growth Factors:
- Increasing demand from end-use industries such as construction, automotive, and packaging
- Rising demand for industrial waxes in developing countries due to the growth of their economies and rising population
- Growing use of industrial waxes in emerging applications such as solar energy and medical implants
- Technological advancements that have led to the development of new products with better performance characteristics
- Expansion of global trade, which is providing opportunities for companies to export their products to new markets
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Wax Market Research Report
By Type
Fossil Based, Synthetic Based, Bio Based
By Application
Candles, Packaging, Coatings & Polishing, Hot Melt Adhesive, Tires & Rubber, Cosmetics & Personal Care, Food
By Companies
Sinopec, Shell, Petrobras, ExxonMobil, Sasol, Lukoil, Numaligarh Refinery, HCI, Blayson, IGI
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Wax Market Report Segments:
The global Industrial Wax market is segmented on the basis of:
Types
Fossil Based, Synthetic Based, Bio Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Candles, Packaging, Coatings & Polishing, Hot Melt Adhesive, Tires & Rubber, Cosmetics & Personal Care, Food
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sinopec
- Shell
- Petrobras
- ExxonMobil
- Sasol
- Lukoil
- Numaligarh Refinery
- HCI
- Blayson
- IGI
Highlights of The Industrial Wax Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Fossil Based
- Synthetic Based
- Bio Based
- By Application:
- Candles
- Packaging
- Coatings & Polishing
- Hot Melt Adhesive
- Tires & Rubber
- Cosmetics & Personal Care
- Food
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Wax Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial wax is a type of wax that is used in industrial applications. It is a soft, white to yellowish material that can be melted and poured into molds to create products such as candles, figurines, ornaments, and other objects.
Some of the key players operating in the industrial wax market are Sinopec, Shell, Petrobras, ExxonMobil, Sasol, Lukoil, Numaligarh Refinery, HCI, Blayson, IGI.
The industrial wax market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Industrial Wax Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Industrial Wax Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Industrial Wax Market - Supply Chain
4.5. Global Industrial Wax Market Forecast
4.5.1. Industrial Wax Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Industrial Wax Market Size (000 Units) and Y-o-Y Growth
4.5.3. Industrial Wax Market Absolute $ Opportunity
5. Global Industrial Wax Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Industrial Wax Market Size and Volume Forecast by Type
5.3.1. Fossil Based
5.3.2. Synthetic Based
5.3.3. Bio Based
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Industrial Wax Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Industrial Wax Market Size and Volume Forecast by Application
6.3.1. Candles
6.3.2. Packaging
6.3.3. Coatings & Polishing
6.3.4. Hot Melt Adhesive
6.3.5. Tires & Rubber
6.3.6. Cosmetics & Personal Care
6.3.7. Food
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Industrial Wax Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Industrial Wax Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Industrial Wax Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Industrial Wax Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Industrial Wax Demand Share Forecast, 2019-2029
9. North America Industrial Wax Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Industrial Wax Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Industrial Wax Market Size and Volume Forecast by Application
9.4.1. Candles
9.4.2. Packaging
9.4.3. Coatings & Polishing
9.4.4. Hot Melt Adhesive
9.4.5. Tires & Rubber
9.4.6. Cosmetics & Personal Care
9.4.7. Food
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Industrial Wax Market Size and Volume Forecast by Type
9.7.1. Fossil Based
9.7.2. Synthetic Based
9.7.3. Bio Based
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Industrial Wax Demand Share Forecast, 2019-2029
10. Latin America Industrial Wax Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Industrial Wax Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Industrial Wax Market Size and Volume Forecast by Application
10.4.1. Candles
10.4.2. Packaging
10.4.3. Coatings & Polishing
10.4.4. Hot Melt Adhesive
10.4.5. Tires & Rubber
10.4.6. Cosmetics & Personal Care
10.4.7. Food
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Industrial Wax Market Size and Volume Forecast by Type
10.7.1. Fossil Based
10.7.2. Synthetic Based
10.7.3. Bio Based
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Industrial Wax Demand Share Forecast, 2019-2029
11. Europe Industrial Wax Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Industrial Wax Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Industrial Wax Market Size and Volume Forecast by Application
11.4.1. Candles
11.4.2. Packaging
11.4.3. Coatings & Polishing
11.4.4. Hot Melt Adhesive
11.4.5. Tires & Rubber
11.4.6. Cosmetics & Personal Care
11.4.7. Food
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Industrial Wax Market Size and Volume Forecast by Type
11.7.1. Fossil Based
11.7.2. Synthetic Based
11.7.3. Bio Based
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Industrial Wax Demand Share, 2019-2029
12. Asia Pacific Industrial Wax Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Industrial Wax Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Industrial Wax Market Size and Volume Forecast by Application
12.4.1. Candles
12.4.2. Packaging
12.4.3. Coatings & Polishing
12.4.4. Hot Melt Adhesive
12.4.5. Tires & Rubber
12.4.6. Cosmetics & Personal Care
12.4.7. Food
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Industrial Wax Market Size and Volume Forecast by Type
12.7.1. Fossil Based
12.7.2. Synthetic Based
12.7.3. Bio Based
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Industrial Wax Demand Share, 2019-2029
13. Middle East & Africa Industrial Wax Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Industrial Wax Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Industrial Wax Market Size and Volume Forecast by Application
13.4.1. Candles
13.4.2. Packaging
13.4.3. Coatings & Polishing
13.4.4. Hot Melt Adhesive
13.4.5. Tires & Rubber
13.4.6. Cosmetics & Personal Care
13.4.7. Food
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Industrial Wax Market Size and Volume Forecast by Type
13.7.1. Fossil Based
13.7.2. Synthetic Based
13.7.3. Bio Based
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Industrial Wax Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Industrial Wax Market: Market Share Analysis
14.2. Industrial Wax Distributors and Customers
14.3. Industrial Wax Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Sinopec
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Shell
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Petrobras
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. ExxonMobil
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Sasol
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Lukoil
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Numaligarh Refinery
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. HCI
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Blayson
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. IGI
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
