Industrial Wax Market by Type (Fossil based, Synthetic based, Bio-based), by Application (Packaging, Coatings & Polishes, Hot Melt Adhesives, Tires & Rubber, Cosmetics & Personal Care, Food, and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)

Industrial Wax Market - Global Industry Analysis and Forecast 2020 to 2027

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

Industrial Wax Market: Drivers & Challenges

Market Driver:

  • 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.

Market Challenges:

  • 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.

Report Features


Historical/Estimated/Forecasted Market Size Years


Base Year for Market Calculation


Forecasted Period

2021-2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Type, Application, and Region

Regional Coverage

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.
  • Sasol
  • The International Group, Inc.
  • Cepsa
  • Kerax Limited
  • HCL
  • 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
  • Synthetic
    • Poly-Olefin Waxes/ Alpha-Olefin Wax
    • Fischer-Topsch Wax (GTL, CTL, BTL)
  • Bio-Based
    • Vegetable Waxes (Candelilla Wax, Carnauba Wax)
    • Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)

Industrial Wax Market, by Material

  • Packaging
  • Coatings & Polishing
  • Hot Melt Adhesive
  • Tires & Rubber
  • Cosmetics & Personal Care
  • Food
  • Others

Industrial Wax Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • 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?

Report Audience

  • 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


    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
    1. Introduction
    2. Drivers
      1. Increasing Demand from End User Sectors
      2. Increased Transportation Activities Across the Globe
      3. Population Growth and Increase in Per Capita Income
    3. Restraint
      1. Supply Constraints Related to Key Mineral Sources
    4. Opportunities
      1. Growing Demand for Unconventional Waxes
    5. Challenges
      1. Growing Demand for Paraffin Wax
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. GLOBAL INDUSTRIAL WAX MARKET BY TYPE, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Fossil Based
      1. Mineral Wax
      2. Petroleum Wax
    3. Synthetic
      1. Poly-Olefin Waxes/ Alpha-Olefin Wax
      2.  Fischer-Topsch Wax (GTL, CTL, BTL)
    4. Bio-Based
      1. Vegetable Waxes (Candelilla Wax, Carnauba Wax)
      2. Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)
  7. GLOBAL INDUSTRIAL WAX MARKET BY APPLICATION, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Packaging
    3. Coatings & Polishing
    4. Hot Melt Adhesive
    5. Tires & Rubber
    6. Cosmetics & Personal Care
    7. Food
    8. Others
  8. GLOBAL INDUSTRIAL WAX MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    3. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
    1. Exxon Mobil Corporation.
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. The Royal Dutch Shell
    3. China Petroleum & Chemical Corporation.
    4. LUKOIL
    5. Sasol
    6. The International Group, Inc.
    7. Cepsa 
    8. Kerax Limited
    9. HCL
    10. The Blayson Group Ltd
    11. Other Key Companies
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain


Rep Id : CM 096

Published : July, 2020

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