Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Wax Market by Type (Petroleum and Mineral Wax, Synthetic Wax, Natural Wax), By Application (Candles, Packaging, Board Sizing, Rheology/Surface Application, Health Industry, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Wax Market by Type (Petroleum and Mineral Wax, Synthetic Wax, Natural Wax), By Application (Candles, Packaging, Board Sizing, Rheology/Surface Application, Health Industry, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 137836 3300 Chemical & Material 377 236 Pages 4.9 (45)

Market Overview:

The global wax market is expected to reach USD XX million by 2030, at a CAGR of XX% during the forecast period 2018-2030. The growth in the global wax market can be attributed to factors such as increasing demand from end-use industries and rising awareness about the benefits of using waxes. Based on type, the global wax market is segmented into petroleum and mineral wax, synthetic wax, and natural Wax. Petroleum and mineral Wax are further sub-segmented into paraffin Waxes and microcrystalline Waxes. Synthetic Wax is further sub-segmented into polyethylene (PE), polypropylene (PP), styrene butadiene rubber (SBR), ethylene vinyl acetate copolymer (EVA) Others include beeswax, carnaubaWax etc. NaturalWax includes beeswax, carnaubaWax etc., while others include lanolin oil among others. In terms of volume share in 2017, synthetic waxy accounted for more than 50% of the total synthetic waxy production globally followed by PE & PP segments with nearly 30%. However; in terms of value share natural Waxy held more than 60% share in 2017 due to high prices commanded by natural Waxy over its substitutes especially for applications such as candles & packaging where quality matters over price point considerations .

Global Wax Industry Outlook

Product Definition:

A wax is a substance that is used to make things smooth or shiny. Waxes are often used as protectants because they create a barrier between the object and the environment.

Petroleum and Mineral Wax:

Petroleum and mineral waxes are produced from crude oil or natural gas. They are a mixture of paraffin, naphthenic oils, and aromatic hydrocarbons. Mineral waxes generally consist of calcium, sodium, potassium; iron oxide; titanium dioxide; zinc oxide &carnauba wax while petroleum based products contain ethylene glycols & propylene glycol as well as butane.

Synthetic Wax:

Synthetic wax is a man-made product and is also known as paraffin wax. It has been derived from crude oil by refining process. Synthetic waxes are available in various forms such as microcrystalline, semi-crystalline, and fully crystalline. They differ in terms of color & texture & melting point among others depending upon the method of manufacturing.

Application Insights:

The packaging segment accounted for more than 30.0% share of the global market in 2017 and is expected to witness significant growth over the forecast period. The growing packaging industry, particularly in emerging countries such as India, China and Brazil is anticipated to drive the product demand from 2018 to 2030.

Candles are one of the most popular applications globally due to their various benefits including scent retention ability and longer burn time when compared with other products such as lotions or oils. These candles have a higher melting point which makes them ideal for use in bathrooms where space is limited on account of low temperatures required for proper wax melting process. Furthermore, these candles also offer easy clean up along with an attractive look owing to decorative designs that can be molded into different shapes easily without any difficulty at all making it one of the best buys available globally at present times.

Regional Analysis:

North America was the second-largest regional market in 2017. The region is expected to witness moderate growth over the forecast period owing to high product demand from various application industries, including packaging, healthcare, and others. Rising consumer awareness regarding sustainable products will drive product demand further.

Asia Pacific is projected to be one of the fastest-growing regions during the forecast years on account of rapid industrialization and increasing population in emerging economies such as China and India. In addition, improving economic conditions are likely to boost wax consumption across this region over the coming years. Rapidly expanding end-use industries such as health & personal care coupled with growing domestic markets are anticipated to further propel industry expansion over the next eight years or so.

Growth Factors:

  • Increasing demand from end-use industries such as automotive, construction, and furniture
  • Rising popularity of candles and other personal care products containing waxes
  • Growing use of waxes in food packaging to extend shelf life
  • Technological advancements that have led to the development of new applications for waxes
  • Expansion of global trade leading to increased demand for Wax

Scope Of The Report

Report Attributes

Report Details

Report Title

Wax Market Research Report

By Type

Petroleum and Mineral Wax, Synthetic Wax, Natural Wax

By Application

Candles, Packaging, Board Sizing, Rheology/Surface Application, Health Industry, Others

By Companies

China National Petroleum Corporation (China), Sinopec Limited (China), Exxon Mobil Corporation (US), Sasol (ZA), Lukoil (Russia), Shell (Netherlands), Nippon (Japan), Westlake Chemical, Petrobras (Brazil), Total (France), Rosneft (Russia), IGI Wax (US), Clariant (China), ROMONTA (Germany)

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Wax Market Report Segments:

The global Wax market is segmented on the basis of:


Petroleum and Mineral Wax, Synthetic Wax, Natural Wax

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.


Candles, Packaging, Board Sizing, Rheology/Surface Application, Health Industry, Others

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:

  1. China National Petroleum Corporation (China)
  2. Sinopec Limited (China)
  3. Exxon Mobil Corporation (US)
  4. Sasol (ZA)
  5. Lukoil (Russia)
  6. Shell (Netherlands)
  7. Nippon (Japan)
  8. Westlake Chemical
  9. Petrobras (Brazil)
  10. Total (France)
  11. Rosneft (Russia)
  12. IGI Wax (US)
  13. Clariant (China)
  14. ROMONTA (Germany)

Global Wax Market Overview

Highlights of The Wax Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Petroleum and Mineral Wax
    2. Synthetic Wax
    3. Natural Wax
  1. By Application:

    1. Candles
    2. Packaging
    3. Board Sizing
    4. Rheology/Surface Application
    5. Health Industry
    6. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the 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

Global Wax Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Wax is a natural product that is used to create sculptures, candles, and other objects. Wax is made from the melted fat of plants or animals.

Some of the major players in the wax market are China National Petroleum Corporation (China), Sinopec Limited (China), Exxon Mobil Corporation (US), Sasol (ZA), Lukoil (Russia), Shell (Netherlands), Nippon (Japan), Westlake Chemical, Petrobras (Brazil), Total (France), Rosneft (Russia), IGI Wax (US), Clariant (China), ROMONTA (Germany).

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. 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. Wax Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Wax Market - Supply Chain
   4.5. Global Wax Market Forecast
      4.5.1. Wax Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Wax Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Wax Market Absolute $ Opportunity

5. Global 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. Wax Market Size and Volume Forecast by Type
      5.3.1. Petroleum and Mineral Wax
      5.3.2. Synthetic Wax
      5.3.3. Natural Wax
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global 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. Wax Market Size and Volume Forecast by Application
      6.3.1. Candles
      6.3.2. Packaging
      6.3.3. Board Sizing
      6.3.4. Rheology/Surface Application
      6.3.5. Health Industry
      6.3.6. Others
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global 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. 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 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. 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 Wax Demand Share Forecast, 2019-2029

9. North America 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 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 Wax Market Size and Volume Forecast by Application
      9.4.1. Candles
      9.4.2. Packaging
      9.4.3. Board Sizing
      9.4.4. Rheology/Surface Application
      9.4.5. Health Industry
      9.4.6. Others
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Wax Market Size and Volume Forecast by Type
      9.7.1. Petroleum and Mineral Wax
      9.7.2. Synthetic Wax
      9.7.3. Natural Wax
   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 Wax Demand Share Forecast, 2019-2029

10. Latin America 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 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 Wax Market Size and Volume Forecast by Application
      10.4.1. Candles
      10.4.2. Packaging
      10.4.3. Board Sizing
      10.4.4. Rheology/Surface Application
      10.4.5. Health Industry
      10.4.6. Others
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Wax Market Size and Volume Forecast by Type
      10.7.1. Petroleum and Mineral Wax
      10.7.2. Synthetic Wax
      10.7.3. Natural Wax
   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 Wax Demand Share Forecast, 2019-2029

11. Europe 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 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 Wax Market Size and Volume Forecast by Application
      11.4.1. Candles
      11.4.2. Packaging
      11.4.3. Board Sizing
      11.4.4. Rheology/Surface Application
      11.4.5. Health Industry
      11.4.6. Others
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Wax Market Size and Volume Forecast by Type
      11.7.1. Petroleum and Mineral Wax
      11.7.2. Synthetic Wax
      11.7.3. Natural Wax
   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 Coutry
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Wax Demand Share, 2019-2029

12. Asia Pacific 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 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 Wax Market Size and Volume Forecast by Application
      12.4.1. Candles
      12.4.2. Packaging
      12.4.3. Board Sizing
      12.4.4. Rheology/Surface Application
      12.4.5. Health Industry
      12.4.6. Others
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Wax Market Size and Volume Forecast by Type
      12.7.1. Petroleum and Mineral Wax
      12.7.2. Synthetic Wax
      12.7.3. Natural Wax
   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 Wax Demand Share, 2019-2029

13. Middle East & Africa 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 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 Wax Market Size and Volume Forecast by Application
      13.4.1. Candles
      13.4.2. Packaging
      13.4.3. Board Sizing
      13.4.4. Rheology/Surface Application
      13.4.5. Health Industry
      13.4.6. Others
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Wax Market Size and Volume Forecast by Type
      13.7.1. Petroleum and Mineral Wax
      13.7.2. Synthetic Wax
      13.7.3. Natural Wax
   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 Wax Demand Share, 2019-2029

14. Competition Landscape
   14.1. Global Wax Market: Market Share Analysis
   14.2. Wax Distributors and Customers
   14.3. Wax Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. China National Petroleum Corporation (China) Overview Financials Developments Strategic Outlook
      14.4.2. Sinopec Limited (China) Overview Financials Developments Strategic Outlook
      14.4.3. Exxon Mobil Corporation (US) Overview Financials Developments Strategic Outlook
      14.4.4. Sasol (ZA) Overview Financials Developments Strategic Outlook
      14.4.5. Lukoil (Russia) Overview Financials Developments Strategic Outlook
      14.4.6. Shell (Netherlands) Overview Financials Developments Strategic Outlook
      14.4.7. Nippon (Japan) Overview Financials Developments Strategic Outlook
      14.4.8. Westlake Chemical Overview Financials Developments Strategic Outlook
      14.4.9. Petrobras (Brazil) Overview Financials Developments Strategic Outlook
      14.4.10. Total (France) Overview Financials Developments Strategic Outlook
      14.4.11. Rosneft (Russia) Overview Financials Developments Strategic Outlook
      14.4.12. IGI Wax (US) Overview Financials Developments Strategic Outlook
      14.4.13. Clariant (China) Overview Financials Developments Strategic Outlook
      14.4.14. ROMONTA (Germany) Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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