Waxes

Waxes

Growth in the US wax market will total 1.8% annually through 2019, reaching $3.2 billion and a market volume of 3.0 billion pounds. Expansion of residential construction and manufacturing activity will drive volume gains, although waxes used in packaging will face competition from recyclable alternatives.

This report segments the wax industry by product type and market. Data are provided in dollars with selected data also provided in pounds.

Wax product types include:

Petroleum & Mineral -- Paraffin; Microcrystalline

Synthetic -- Polymer; Fischer-Tropsch

Natural -- Soy; Carnauba; Beeswax; Lanolin

Petroleum and mineral waxes will continue to dominate through 2019, accounting for 57% of the market. Fastest growth will be for synthetic waxes, driven by their superior performance and prominence in the expanding adhesives market.

Major markets for waxes include:

Industrial -- Plastic & Rubber, Adhesives; Paper & Paperboard; Building Boards; Inks & Coatings

Consumer & Commercial -- Candles & Decorative Products; Cosmetics & Toiletries; Firelogs; Household & Automotive Polishes; Pharmaceuticals

The industrial market was the leading outlet in 2014, accounting for 54% of demand. Gains in the industrial market are forecast to exceed those of consumer and commercial markets. Continued recovery in manufacturing, particularly in coatings, adhesives, plastics, and building board, will fuel growth.

A wide variety of companies participate in the US wax industry, ranging from large, multinational petroleum and chemical concerns to small independent firms serving niche markets. Companies covered in this study include Baker Hughes, BASF, Calumet, Exxon Mobil, HollyFrontier, Honeywell International, International Group (IGI), Sasol, and Westlake Chemical.