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Wax Market By Application, By Type: Global Opportunity Analysis and Industry Forecast, 2020-2030

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    Report

  • 280 Pages
  • April 2022
  • Region: Global
  • Allied Market Research
  • ID: 5640618
The global wax market was valued at $11.6 billion in 2020, and is projected to reach $16.7 billion by 2030, growing at a CAGR of 3.7% from 2021 to 2030.

Wax is an organic ingredient that is solid at normal room temperature but becomes free flowing fluid when the temperature is high. The main commercial source of wax is crude oil. However, waxes are produced from plants, lignite, animals, and insects. Paraffin/Mineral wax, synthetic wax, and natural wax are the three types of waxes available in the market. These waxes differ in their chemical composition; however, the presence of normal alkanes is always in high ratio compared to other ingredients.

High requirement of waxes in the packaging industry drives the growth of global wax market. Paraffin waxes offer exceptional resistance to water, hence it is widely used for packaging. Moreover, surge in demand for waxes from applications, including tire & rubber, coating, and floor polishes boosts the growth of market across the globe. Increase in demand for wax from the personal care industry is another driver for the growth of wax industry. Cosmetics and personal care sectors have the maximum usage of wax. The personal care industry accounted for a healthy share in the global market in 2019. However, the market growth is restricted, due to high prices of synthetic and natural waxes. Moreover, shortage in supply of paraffin/mineral wax hampers the market growth. However, growth in awareness toward natural cosmetics is expected to provide major opportunity for the manufacturers.

The wax market is segmented on the basis of type, application, and region. By type, it is segregated into paraffin/mineral wax, synthetic wax, natural wax, and others. On the basis of application, it is fragmented into candles, packaging, emulsions, hot melts, floor polishes, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in this report include Akzo Nobel N.V., Baker Hugher Company, BASF SE, Cepsa, China National Petroleum Corporation, Evonik Industries AG, Exxon Mobil Corporation, HollyFrontier Sinclair Corporation, Honeywell International Inc., The International Group Inc.

The global Wax market report provides in-depth competitive analysis as well as profiles of these major players.

Impact of COVID-19 on Global Wax Market


The outbreak of COVID-19 led to partial or complete shutdown of production facilities that do not come under essential goods, owing to prolonged lockdown in major countries, including the U.S., China, Japan, India, and Germany. It led to either closure or suspension of their production activities in most of the industrial units across the globe.

COVID-19 pandemic stagnated production activities in various areas such as packaging, cosmetics, chemicals, and candle making. Supply chain disruptions disrupted the supply of raw materials to these industries. As a result, the demand for wax from these industries that depended on wax for production declined. In addition, the decline in demand for cosmetics, candles, and consumer goods reduced the demand for waxes across the globe.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wax market analysis from 2020 to 2030 to identify the prevailing wax market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the wax market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global wax market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments


By Application

  • Candles
  • Packaging
  • Emulsions
  • Hot Melts
  • Floor Polishes
  • Others

By Type

  • Paraffin/Mineral Wax
  • Synthetic Wax
  • Natural Wax
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • Italy
  • Germany
  • Spain
  • U.K.
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Saudi Arabia
  • Rest of LAMEA

Key Market Players

  • Akzo Nobel N.V.
  • Baker Hughes Company
  • BASF SE
  • Cepsa
  • china national petroleum corporation
  • Evonik Industries AG
  • Exxon Mobil Corporation
  • HollyFrontier Sinclair Corporation
  • Honeywell International Inc.
  • The International Group Inc.
Frequently Asked Questions about the Global Wax Market

What is the estimated value of the Global Wax Market?

The Global Wax Market was estimated to be valued at $11.6 billion in 2020.

What is the growth rate of the Global Wax Market?

The growth rate of the Global Wax Market is 3.7%, with an estimated value of $16.7 billion by 2030.

What is the forecasted size of the Global Wax Market?

The Global Wax Market is estimated to be worth $16.7 billion by 2030.

Who are the key companies in the Global Wax Market?

Key companies in the Global Wax Market include Akzo Nobel N.V., Baker Hughes Company, BASF SE, Cepsa, china national petroleum corporation, Evonik Industries AG, Exxon Mobil Corporation, HollyFrontier Sinclair Corporation, Honeywell International Inc. and The International Group Inc..

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Pricing Analysis
3.8. Regulatory Guidelines
3.9. Patent Landscape
CHAPTER 4: WAX MARKET, BY APPLICATION
4.1 Overview
4.1.1 Market size and forecast
4.2 Candles
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Packaging
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Emulsions
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Hot Melts
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
4.6 Floor Polishes
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market analysis by country
4.7 Others
4.7.1 Key market trends, growth factors and opportunities
4.7.2 Market size and forecast, by region
4.7.3 Market analysis by country
CHAPTER 5: WAX MARKET, BY TYPE
5.1 Overview
5.1.1 Market size and forecast
5.2 Paraffin/Mineral Wax
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Synthetic Wax
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Natural Wax
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Others
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
CHAPTER 6: WAX MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Application
6.2.3 North America Market size and forecast, by Type
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Market size and forecast, by Application
6.2.4.1.2 Market size and forecast, by Type
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Application
6.2.4.2.2 Market size and forecast, by Type
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Application
6.2.4.3.2 Market size and forecast, by Type
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Application
6.3.3 Europe Market size and forecast, by Type
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Market size and forecast, by Application
6.3.4.1.2 Market size and forecast, by Type
6.3.4.2 France
6.3.4.2.1 Market size and forecast, by Application
6.3.4.2.2 Market size and forecast, by Type
6.3.4.3 Italy
6.3.4.3.1 Market size and forecast, by Application
6.3.4.3.2 Market size and forecast, by Type
6.3.4.4 Spain
6.3.4.4.1 Market size and forecast, by Application
6.3.4.4.2 Market size and forecast, by Type
6.3.4.5 U.K.
6.3.4.5.1 Market size and forecast, by Application
6.3.4.5.2 Market size and forecast, by Type
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Application
6.3.4.6.2 Market size and forecast, by Type
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Application
6.4.3 Asia-Pacific Market size and forecast, by Type
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Application
6.4.4.1.2 Market size and forecast, by Type
6.4.4.2 India
6.4.4.2.1 Market size and forecast, by Application
6.4.4.2.2 Market size and forecast, by Type
6.4.4.3 Japan
6.4.4.3.1 Market size and forecast, by Application
6.4.4.3.2 Market size and forecast, by Type
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Application
6.4.4.4.2 Market size and forecast, by Type
6.4.4.5 Australia
6.4.4.5.1 Market size and forecast, by Application
6.4.4.5.2 Market size and forecast, by Type
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Market size and forecast, by Application
6.4.4.6.2 Market size and forecast, by Type
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Application
6.5.3 LAMEA Market size and forecast, by Type
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Application
6.5.4.1.2 Market size and forecast, by Type
6.5.4.2 South Africa
6.5.4.2.1 Market size and forecast, by Application
6.5.4.2.2 Market size and forecast, by Type
6.5.4.3 Saudi Arabia
6.5.4.3.1 Market size and forecast, by Application
6.5.4.3.2 Market size and forecast, by Type
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Market size and forecast, by Application
6.5.4.4.2 Market size and forecast, by Type
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Akzo Nobel N.V.
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Baker Hughes Company
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 BASF SE
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Cepsa
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 china national petroleum corporation
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Evonik Industries AG
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Exxon Mobil Corporation
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 HollyFrontier Sinclair Corporation
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Honeywell International Inc.
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 The International Group Inc.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
LIST OF TABLES
Table 1. Global Wax Market, by Application, 2020-2030, ($Million)
Table 2. Wax Market Revenue, for Candles, by Region, 2020-2030, ($Million)
Table 3. Wax Market Candles by Country, 2020-2030, ($Million)
Table 4. Wax Market Revenue, for Packaging, by Region, 2020-2030, ($Million)
Table 5. Wax Market Packaging by Country, 2020-2030, ($Million)
Table 6. Wax Market Revenue, for Emulsions, by Region, 2020-2030, ($Million)
Table 7. Wax Market Emulsions by Country, 2020-2030, ($Million)
Table 8. Wax Market Revenue, for Hot Melts, by Region, 2020-2030, ($Million)
Table 9. Wax Market Hot Melts by Country, 2020-2030, ($Million)
Table 10. Wax Market Revenue, for Floor Polishes, by Region, 2020-2030, ($Million)
Table 11. Wax Market Floor Polishes by Country, 2020-2030, ($Million)
Table 12. Wax Market Revenue, for Others, by Region, 2020-2030, ($Million)
Table 13. Wax Market Others by Country, 2020-2030, ($Million)
Table 14. Global Wax Market, by Type, 2020-2030, ($Million)
Table 15. Wax Market Revenue, for Paraffin/Mineral Wax, by Region, 2020-2030, ($Million)
Table 16. Wax Market Paraffin/Mineral Wax by Country, 2020-2030, ($Million)
Table 17. Wax Market Revenue, for Synthetic Wax, by Region, 2020-2030, ($Million)
Table 18. Wax Market Synthetic Wax by Country, 2020-2030, ($Million)
Table 19. Wax Market Revenue, for Natural Wax, by Region, 2020-2030, ($Million)
Table 20. Wax Market Natural Wax by Country, 2020-2030, ($Million)
Table 21. Wax Market Revenue, for Others, by Region, 2020-2030, ($Million)
Table 22. Wax Market Others by Country, 2020-2030, ($Million)
Table 23. Wax Market, by Region, 2020-2030, ($Million)
Table 24. North America Wax Market, by Application, 2020-2030, ($Million)
Table 25. North America Wax Market, by Type, 2020-2030, ($Million)
Table 26. North America Wax Market, by Country, 2020-2030, ($Million)
Table 27. U.S. Wax Market by Application 2020-2030, ($Million)
Table 28. U.S. Wax Market by Type 2020-2030, ($Million)
Table 29. Canada Wax Market by Application 2020-2030, ($Million)
Table 30. Canada Wax Market by Type 2020-2030, ($Million)
Table 31. Mexico Wax Market by Application 2020-2030, ($Million)
Table 32. Mexico Wax Market by Type 2020-2030, ($Million)
Table 33. Europe Wax Market, by Application, 2020-2030, ($Million)
Table 34. Europe Wax Market, by Type, 2020-2030, ($Million)
Table 35. Europe Wax Market, by Country, 2020-2030, ($Million)
Table 36. Germany Wax Market by Application 2020-2030, ($Million)
Table 37. Germany Wax Market by Type 2020-2030, ($Million)
Table 38. France Wax Market by Application 2020-2030, ($Million)
Table 39. France Wax Market by Type 2020-2030, ($Million)
Table 40. Italy Wax Market by Application 2020-2030, ($Million)
Table 41. Italy Wax Market by Type 2020-2030, ($Million)
Table 42. Spain Wax Market by Application 2020-2030, ($Million)
Table 43. Spain Wax Market by Type 2020-2030, ($Million)
Table 44. U.K. Wax Market by Application 2020-2030, ($Million)
Table 45. U.K. Wax Market by Type 2020-2030, ($Million)
Table 46. Rest of Europe Wax Market by Application 2020-2030, ($Million)
Table 47. Rest of Europe Wax Market by Type 2020-2030, ($Million)
Table 48. Asia-Pacific Wax Market, by Application, 2020-2030, ($Million)
Table 49. Asia-Pacific Wax Market, by Type, 2020-2030, ($Million)
Table 50. Asia-Pacific Wax Market, by Country, 2020-2030, ($Million)
Table 51. China Wax Market by Application 2020-2030, ($Million)
Table 52. China Wax Market by Type 2020-2030, ($Million)
Table 53. India Wax Market by Application 2020-2030, ($Million)
Table 54. India Wax Market by Type 2020-2030, ($Million)
Table 55. Japan Wax Market by Application 2020-2030, ($Million)
Table 56. Japan Wax Market by Type 2020-2030, ($Million)
Table 57. South Korea Wax Market by Application 2020-2030, ($Million)
Table 58. South Korea Wax Market by Type 2020-2030, ($Million)
Table 59. Australia Wax Market by Application 2020-2030, ($Million)
Table 60. Australia Wax Market by Type 2020-2030, ($Million)
Table 61. Rest of Asia-Pacific Wax Market by Application 2020-2030, ($Million)
Table 62. Rest of Asia-Pacific Wax Market by Type 2020-2030, ($Million)
Table 63. LAMEA Wax Market, by Application, 2020-2030, ($Million)
Table 64. LAMEA Wax Market, by Type, 2020-2030, ($Million)
Table 65. LAMEA Wax Market, by Country, 2020-2030, ($Million)
Table 66. Brazil Wax Market by Application 2020-2030, ($Million)
Table 67. Brazil Wax Market by Type 2020-2030, ($Million)
Table 68. South Africa Wax Market by Application 2020-2030, ($Million)
Table 69. South Africa Wax Market by Type 2020-2030, ($Million)
Table 70. Saudi Arabia Wax Market by Application 2020-2030, ($Million)
Table 71. Saudi Arabia Wax Market by Type 2020-2030, ($Million)
Table 72. Rest of LAMEA Wax Market by Application 2020-2030, ($Million)
Table 73. Rest of LAMEA Wax Market by Type 2020-2030, ($Million)
Table 74. Akzo Nobel N.V.: Company Snapshot
Table 75. Akzo Nobel N.V.: Operating Segments
Table 76. Akzo Nobel N.V.: Product Portfolio
Table 77. Akzo Nobel N.V.: Net Sales
Table 78. Akzo Nobel N.V.: Key Stratergies
Table 79. Baker Hughes Company: Company Snapshot
Table 80. Baker Hughes Company: Operating Segments
Table 81. Baker Hughes Company: Product Portfolio
Table 82. Baker Hughes Company: Net Sales
Table 83. Baker Hughes Company: Key Stratergies
Table 84. Basf Se: Company Snapshot
Table 85. Basf Se: Operating Segments
Table 86. Basf Se: Product Portfolio
Table 87. Basf Se: Net Sales
Table 88. Basf Se: Key Stratergies
Table 89. Cepsa: Company Snapshot
Table 90. Cepsa: Operating Segments
Table 91. Cepsa: Product Portfolio
Table 92. Cepsa: Net Sales
Table 93. Cepsa: Key Stratergies
Table 94. China National Petroleum Corporation: Company Snapshot
Table 95. China National Petroleum Corporation: Operating Segments
Table 96. China National Petroleum Corporation: Product Portfolio
Table 97. China National Petroleum Corporation: Net Sales
Table 98. China National Petroleum Corporation: Key Stratergies
Table 99. Evonik Industries Ag: Company Snapshot
Table 100. Evonik Industries Ag: Operating Segments
Table 101. Evonik Industries Ag: Product Portfolio
Table 102. Evonik Industries Ag: Net Sales
Table 103. Evonik Industries Ag: Key Stratergies
Table 104. Exxon Mobil Corporation: Company Snapshot
Table 105. Exxon Mobil Corporation: Operating Segments
Table 106. Exxon Mobil Corporation: Product Portfolio
Table 107. Exxon Mobil Corporation: Net Sales
Table 108. Exxon Mobil Corporation: Key Stratergies
Table 109. Hollyfrontier Sinclair Corporation: Company Snapshot
Table 110. Hollyfrontier Sinclair Corporation: Operating Segments
Table 111. Hollyfrontier Sinclair Corporation: Product Portfolio
Table 112. Hollyfrontier Sinclair Corporation: Net Sales
Table 113. Hollyfrontier Sinclair Corporation: Key Stratergies
Table 114. Honeywell International Inc.: Company Snapshot
Table 115. Honeywell International Inc.: Operating Segments
Table 116. Honeywell International Inc.: Product Portfolio
Table 117. Honeywell International Inc.: Net Sales
Table 118. Honeywell International Inc.: Key Stratergies
Table 119. The International Group Inc.: Company Snapshot
Table 120. The International Group Inc.: Operating Segments
Table 121. The International Group Inc.: Product Portfolio
Table 122. The International Group Inc.: Net Sales
Table 123. The International Group Inc.: Key Stratergies
LIST OF FIGURES
Figure 1. Wax Market Segmentation
Figure 2. Wax Market, 2020-2030
Figure 3. Wax Market, 2020-2030
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Wax Market:Drivers, Restraints and Opportunities
Figure 12. Pricing Analysis
Figure 13. Regulatory Guidelines
Figure 14. Patent Analysis by Company
Figure 15. Patent Analysis by Country
Figure 16. Wax Market, by Application, 2020 (%)
Figure 17. Comparative Share Analysis of Candles Wax Market, 2020-2030 (%)
Figure 18. Comparative Share Analysis of Packaging Wax Market, 2020-2030 (%)
Figure 19. Comparative Share Analysis of Emulsions Wax Market, 2020-2030 (%)
Figure 20. Comparative Share Analysis of Hot Melts Wax Market, 2020-2030 (%)
Figure 21. Comparative Share Analysis of Floor Polishes Wax Market, 2020-2030 (%)
Figure 22. Comparative Share Analysis of Others Wax Market, 2020-2030 (%)
Figure 23. Wax Market, by Type, 2020 (%)
Figure 24. Comparative Share Analysis of Paraffin/Mineral Wax Wax Market, 2020-2030 (%)
Figure 25. Comparative Share Analysis of Synthetic Wax Wax Market, 2020-2030 (%)
Figure 26. Comparative Share Analysis of Natural Wax Wax Market, 2020-2030 (%)
Figure 27. Comparative Share Analysis of Others Wax Market, 2020-2030 (%)
Figure 28. Wax Market by Region, 2020
Figure 29. U.S. Wax Market, 2020-2030 ($Million)
Figure 30. Canada Wax Market, 2020-2030 ($Million)
Figure 31. Mexico Wax Market, 2020-2030 ($Million)
Figure 32. Germany Wax Market, 2020-2030 ($Million)
Figure 33. France Wax Market, 2020-2030 ($Million)
Figure 34. Italy Wax Market, 2020-2030 ($Million)
Figure 35. Spain Wax Market, 2020-2030 ($Million)
Figure 36. U.K. Wax Market, 2020-2030 ($Million)
Figure 37. Rest of Europe Wax Market, 2020-2030 ($Million)
Figure 38. China Wax Market, 2020-2030 ($Million)
Figure 39. India Wax Market, 2020-2030 ($Million)
Figure 40. Japan Wax Market, 2020-2030 ($Million)
Figure 41. South Korea Wax Market, 2020-2030 ($Million)
Figure 42. Australia Wax Market, 2020-2030 ($Million)
Figure 43. Rest of Asia-Pacific Wax Market, 2020-2030 ($Million)
Figure 44. Brazil Wax Market, 2020-2030 ($Million)
Figure 45. South Africa Wax Market, 2020-2030 ($Million)
Figure 46. Saudi Arabia Wax Market, 2020-2030 ($Million)
Figure 47. Rest of LAMEA Wax Market, 2020-2030 ($Million)
Figure 48. Top Winning Strategies, by Year
Figure 49. Top Winning Strategies, by Development
Figure 50. Top Winning Strategies, by Company
Figure 51. Product Mapping of Top 10 Players
Figure 52. Competitive Dashboard
Figure 53. Competitive Heatmap of Top 10 Key Players
Figure 54. Akzo Nobel N.V. Net Sales, ($Million)
Figure 55. Baker Hughes Company.: Net Sales, ($Million)
Figure 56. BASF SE.: Net Sales, ($Million)
Figure 57. Cepsa.: Net Sales, ($Million)
Figure 58. China National Petroleum Corporation.: Net Sales, ($Million)
Figure 59. Evonik Industries AG.: Net Sales, ($Million)
Figure 60. Exxon Mobil Corporation.: Net Sales, ($Million)
Figure 61. Hollyfrontier Sinclair Corporation.: Net Sales, ($Million)
Figure 62. Honeywell International Inc. Net Sales, ($Million)
Figure 63. The International Group Inc. Net Sales, ($Million)

Executive Summary

According to this report titled, 'Wax Market,' the wax market was valued at $11.6 billion in 2020, and is estimated to reach $16.7 billion by 2030, growing at a CAGR of 3.7% from 2021 to 2030.

Wax is an organic compound that is lipophilic and bendable solid at room temperature. Higher alkanes and lipids, with melting temperatures often above 40 °C, melt to produce low viscosity liquids. Waxes are soluble in organic, nonpolar solvents but not in water.

Waxes are widely used as additives and bases. The use of wax increases, owing to importance of finished products,including metal surface gloss and manufacturing of stone tools, driving the growth of the market. In addition, wax is used as a wear suppressant in metalworking and in assembly of metal objects. It is used in material management, owing to the property of water repellent. In addition, they are used as protective equipment in hardware and electronics stores.

The wax market is segmented on the basis of type, application, and region. By type, it is segregated into paraffin/mineral wax, synthetic wax, natural wax, and others. On the basis of application, it is fragmented into candles, packaging, emulsions, hot melts, floor polishes, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

According to type, the paraffin/mineral wax segment is projected to hold a 70.0% market share in the market in 2020. Paraffin wax is being used on a large scale in packaging, cosmetics, and candle producing companies, owing to its cost-effective feature.

By application, the candles segment is projected to contribute a 60.2% market share in the market in 2020. This high share is attributable to the growth in demand for aromatherapy through scented candles. Use of candles has become a critical household essential. Candles are available in variety of sizes, shapes, and product range like birthday, taper, utility, teal light container to novelty candles. These are used for multiple purposes such as aromatherapy for relaxation, stress reduction, and home decor.

Region wise, Asia-Pacific is projected to hold a significant share in the global wax market. The growth is attributed to the rise in standards of living and industrialization, especially in countries like China and India.

The major companies profiled in this report include, Akzo Nobel N.V., Baker Hugher Company, BASF SE, Cepsa, China National Petroleum Corporation, Evonik Industries AG, Exxon Mobil Corporation, HollyFrontier Sinclair Corporation, Honeywell International Inc., The International Group Inc.

These players have adopted strategies such as product launch and business expansion to sustain the competition and to strengthen their foothold in the market.

Key Findings of Study

  • Region-wise, Asia-Pacific is projected to grow at the highest CAGR of nearly 4.7%, in terms of revenue, during the forecast period.
  • On the basis of application, the candles segment accounted for the largest market share in 2020.
  • Depending on type, the paraffin/mineral wax segment garnered the highest share in 2020.

IMPACT OF COVID-19 on Global Wax Market

  • The outbreak of COVID-19 led to partial or complete shutdown of production facilities that do not come under essential goods, owing to prolonged lockdown in major countries, including the U.S., China, Japan, India, and Germany. It led to either closure or suspension of their production activities in most of the industrial units across the globe.
  • COVID-19 pandemic stagnated production activities in various areas, including packaging, cosmetics, chemicals, and candle making. Supply chain disruptions disrupted the supply of raw materials to these industries. As a result, the demand for wax from these industries that depended on wax for production declined. In addition, decline in demand for cosmetics, candles, and consumer goods reduced the demand for waxes across the globe.

Companies Mentioned

  • Akzo Nobel N.V.
  • Baker Hughes Company
  • BASF SE
  • Cepsa
  • china national petroleum corporation
  • Evonik Industries AG
  • Exxon Mobil Corporation
  • HollyFrontier Sinclair Corporation
  • Honeywell International Inc.
  • The International Group Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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