Industrial Wax Market: Summary
The Global Industrial Wax Market is projected to reach a value of over USD 14.9 billion by 2027 at a CAGR of around 4.6%.
Industrial waxes are solid materials that melt and convert into a liquid state at slightly higher temperatures. Numerous types of waxes are available in the market, such as fossil-based, bio-based and synthetic waxes. Industrial wax exhibit superior properties and thus, find a wide range of applications in packaging, pharmaceutical, plastics, rubber, cosmetics, candles, sealants & adhesives and other sectors.
Industrial Wax Market: Drivers & Challenges
- Increasing Demand from End User Sectors
Growing population has led to an increase in the transportation of goods, fruits and food products, across the world, which is leading to a growing demand for packaged food. Industrial wax is widely used in the packaging industry due to it provide good lubrication and water-resistance properties. Thus increasing packaging industry has expected to boost the industrial wax market during the assessment period. Moreover, the Growing cosmetic industry is expected to drive the demand for industrial waxes, owing to the wax paper is a proficient and cost-effective wrapping that protects products from humidity, water, and grease. Anti-blocking, waterproofing, excellent shine, anti-scratch properties, and slip resistance properties of industrial wax makes it useful in the coating industry. Thus, the increasing demand form these industries for industrial wax is expected to boost the industrial wax market during the forecasted period.
- Growing Demand for Paraffin Wax
Paraffin wax is a byproduct of the oil purification process. It is derived from the dewaxing process that crude oil undergoes. It is is a soft colorless solid derived from petroleum, coal, or oil shale. The demand for paraffin wax is increasing due to growing demand for aromatherapy and rise in consciousness about home ambiances. Moreover, an increase in demand for skincare products, as the wax plays a major role in the beauty industry, which is likely to boost the demand for paraffin wax. Thus, paraffinwax act as a substitute product for industrial wax, which is expected to hinder the market growth up to a certain extent.
Industrial Wax Market: Key Segments
- Segmentation based on type: Fossil based, Synthetic based, Bio-based
- Segmentation based on application: Packaging, Coatings & Polishes, Hot Melt Adhesives, Tires & Rubber, Cosmetics & Personal Care, Food, and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Industrial Wax Market: Report Scope
The report on the Industrial Wax market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Type, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Exxon Mobil Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- The Royal Dutch Shell
- China Petroleum & Chemical Corporation.
- The International Group, Inc.
- Kerax Limited
- The Blayson Group Ltd
- Other Key Companies
Industrial Wax Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Industrial Wax Market, by Type
- Fossil Based
- Mineral Wax
- Petroleum Wax
- Poly-Olefin Waxes/ Alpha-Olefin Wax
- Fischer-Topsch Wax (GTL, CTL, BTL)
- Vegetable Waxes (Candelilla Wax, Carnauba Wax)
- Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)
Industrial Wax Market, by Material
- Coatings & Polishing
- Hot Melt Adhesive
- Tires & Rubber
- Cosmetics & Personal Care
Industrial Wax Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Industrial Wax Market Providers
- Industrial Wax Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Industrial Wax Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE INDUSTRIAL WAX MARKET STUDY