+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Global Paraffin Wax Market Size, Share & Industry Trends Analysis Report By Application (Candles, Cosmetics, Packaging, Hot Melts, Rubber, Board Sizing and Others), By Regional Outlook and Forecast, 2023 - 2030

  • PDF Icon

    Report

  • 220 Pages
  • December 2023
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5916870
The Global Paraffin Wax Market size is expected to reach $11.4 billion by 2030, rising at a market growth of 5.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 4381.4 kilo tonnes experiencing a growth of 4.7% (2019-2022).

The increasing need for packaging materials and the expansion of e-commerce worldwide present numerous prospects throughout the projected timeframe. Consequently, the Packaging segment would generate approximately 20.01% share of the market by 2030. Because of its ability to absorb moisture and odors, the product is extensively utilized in the packaging industry. Adding PE molecules to the saturated hydrocarbon mixture enhances the product's melting point. However, a mixture of antioxidants is incorporated to improve the lipids' properties. Prominent disposable packaging materials industry entities include Nestle SA, Tyson Foods Inc., Mars Inc., and PepsiCo Inc. Some of the factors affecting the market are increase in demand for candle manufacturing, expansion of packaging industry, and growing fluctuating crude oil prices.

Changing home decor trends, influenced by social media and lifestyle preferences, have contributed to the growing demand for candles. Candles are often used as decorative elements, creating ambient lighting and enhancing the overall aesthetics of living spaces. Candle manufacturers, in response to consumer preferences and lifestyle trends, play a crucial role in sustaining and amplifying the demand for paraffin wax, thereby contributing to the market's overall growth. Moreover, paraffin wax's inherent moisture-resistant properties make it an ideal material for coating papers and boards used in packaging. As the demand for moisture-resistant packaging grows across industries such as food and pharmaceuticals, paraffin wax becomes essential in meeting these requirements. As industries continue to innovate and address evolving consumer preferences, paraffin wax's role in the packaging sector is likely to grow, contributing to the overall expansion of the market.

However, paraffin wax is a byproduct of natural oil refining. When crude oil prices fluctuate, the cost of obtaining the raw materials for paraffin wax production also changes. High crude oil prices can lead to increased production costs, affecting the overall profitability of paraffin wax manufacturers. The paraffin wax market is sensitive to the volatility of crude oil prices. Rapid and unpredictable changes in oil prices can lead to uncertainties in the pricing of paraffin wax products. The above factors will hamper the market growth in the coming years.

Application Outlook

On the basis of application, the market is segmented into candles, packaging, cosmetics, hot melts, board sizing, rubber, and others. In 2022, the candles segment dominated the market with the maximum revenue share. Retail establishments typically carry paraffin wax as pellets packaged in small containers. As melting and weighing paraffin wax granules is straightforward, several businesses have recently begun selling candles made from these pellets. In contrast, as alternatives that burn cleanly, are biodegradable, do not contain any chemicals, and have a longer lifespan, soy, and natural wax candles are experiencing consistent growth in popularity. White Barn Candles, Colonial Candles, Yankee Candles, and Wood Wick Candles are significant market participants worldwide.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region recorded a remarkable revenue share in the in 2022. Candle demand is increasing in countries such as Germany, the United Kingdom, and France. In terms of candle production capacity, Poland ranks second globally. It is frequently employed as a decorative element within residential spaces to elevate the atmosphere of a given room. Candle manufacturing is a global industry in which Germany ranks fourth. Nevertheless, many candle manufacturing firms are ceasing operations within the nation due to volatile raw material costs, excessive labor and transportation expenses, and the accessibility of inexpensive imported candles, particularly those originating from developing nations.

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Petro China Company Limited (China National Petroleum Corporation), Sinopec Group (China Petrochemical Corporation), Sasol Limited, Exxon Mobil Corporation, (Petrobras) Petróleo Brasileiro S.A, Nippon Seiro Co., Ltd., H&R Gmbh & Co. KGaA, Honeywell International Inc., Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)

Scope of the Study

Market Segments Covered in the Report:


By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Candles
  • Cosmetics
  • Packaging
  • Hot Melts
  • Rubber
  • Board Sizing
  • Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Petro China Company Limited (China National Petroleum Corporation)
  • Sinopec Group (China Petrochemical Corporation)
  • Sasol Limited
  • Exxon Mobil Corporation
  • (Petrobras) Petróleo Brasileiro S.A
  • Nippon Seiro Co., Ltd.
  • H&R Gmbh & Co. KGaA
  • Honeywell International Inc.
  • Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)

Unique Offerings

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Paraffin Wax Market, by Application
1.4.2 Global Paraffin Wax Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Paraffin Wax Market by Application
4.1 Global Candles Market by Region
4.2 Global Cosmetics Market by Region
4.3 Global Packaging Market by Region
4.4 Global Hot Melts Market by Region
4.5 Global Rubber Market by Region
4.6 Global Board Sizing Market by Region
4.7 Global Others Market by Region
Chapter 5. Global Paraffin Wax Market by Region
5.1 North America Paraffin Wax Market
5.1.1 North America Paraffin Wax Market by Application
5.1.1.1 North America Candles Market by Country
5.1.1.2 North America Cosmetics Market by Country
5.1.1.3 North America Packaging Market by Country
5.1.1.4 North America Hot Melts Market by Country
5.1.1.5 North America Rubber Market by Country
5.1.1.6 North America Board Sizing Market by Country
5.1.1.7 North America Others Market by Country
5.1.2 North America Paraffin Wax Market by Country
5.1.2.1 US Paraffin Wax Market
5.1.2.1.1 US Paraffin Wax Market by Application
5.1.2.2 Canada Paraffin Wax Market
5.1.2.2.1 Canada Paraffin Wax Market by Application
5.1.2.3 Mexico Paraffin Wax Market
5.1.2.3.1 Mexico Paraffin Wax Market by Application
5.1.2.4 Rest of North America Paraffin Wax Market
5.1.2.4.1 Rest of North America Paraffin Wax Market by Application
5.2 Europe Paraffin Wax Market
5.2.1 Europe Paraffin Wax Market by Application
5.2.1.1 Europe Candles Market by Country
5.2.1.2 Europe Cosmetics Market by Country
5.2.1.3 Europe Packaging Market by Country
5.2.1.4 Europe Hot Melts Market by Country
5.2.1.5 Europe Rubber Market by Country
5.2.1.6 Europe Board Sizing Market by Country
5.2.1.7 Europe Others Market by Country
5.2.2 Europe Paraffin Wax Market by Country
5.2.2.1 Germany Paraffin Wax Market
5.2.2.1.1 Germany Paraffin Wax Market by Application
5.2.2.2 UK Paraffin Wax Market
5.2.2.2.1 UK Paraffin Wax Market by Application
5.2.2.3 France Paraffin Wax Market
5.2.2.3.1 France Paraffin Wax Market by Application
5.2.2.4 Russia Paraffin Wax Market
5.2.2.4.1 Russia Paraffin Wax Market by Application
5.2.2.5 Spain Paraffin Wax Market
5.2.2.5.1 Spain Paraffin Wax Market by Application
5.2.2.6 Italy Paraffin Wax Market
5.2.2.6.1 Italy Paraffin Wax Market by Application
5.2.2.7 Rest of Europe Paraffin Wax Market
5.2.2.7.1 Rest of Europe Paraffin Wax Market by Application
5.3 Asia Pacific Paraffin Wax Market
5.3.1 Asia Pacific Paraffin Wax Market by Application
5.3.1.1 Asia Pacific Candles Market by Country
5.3.1.2 Asia Pacific Cosmetics Market by Country
5.3.1.3 Asia Pacific Packaging Market by Country
5.3.1.4 Asia Pacific Hot Melts Market by Country
5.3.1.5 Asia Pacific Rubber Market by Country
5.3.1.6 Asia Pacific Board Sizing Market by Country
5.3.1.7 Asia Pacific Others Market by Country
5.3.2 Asia Pacific Paraffin Wax Market by Country
5.3.2.1 China Paraffin Wax Market
5.3.2.1.1 China Paraffin Wax Market by Application
5.3.2.2 Japan Paraffin Wax Market
5.3.2.2.1 Japan Paraffin Wax Market by Application
5.3.2.3 India Paraffin Wax Market
5.3.2.3.1 India Paraffin Wax Market by Application
5.3.2.4 South Korea Paraffin Wax Market
5.3.2.4.1 South Korea Paraffin Wax Market by Application
5.3.2.5 Singapore Paraffin Wax Market
5.3.2.5.1 Singapore Paraffin Wax Market by Application
5.3.2.6 Malaysia Paraffin Wax Market
5.3.2.6.1 Malaysia Paraffin Wax Market by Application
5.3.2.7 Rest of Asia Pacific Paraffin Wax Market
5.3.2.7.1 Rest of Asia Pacific Paraffin Wax Market by Application
5.4 LAMEA Paraffin Wax Market
5.4.1 LAMEA Paraffin Wax Market by Application
5.4.1.1 LAMEA Candles Market by Country
5.4.1.2 LAMEA Cosmetics Market by Country
5.4.1.3 LAMEA Packaging Market by Country
5.4.1.4 LAMEA Hot Melts Market by Country
5.4.1.5 LAMEA Rubber Market by Country
5.4.1.6 LAMEA Board Sizing Market by Country
5.4.1.7 LAMEA Others Market by Country
5.4.2 LAMEA Paraffin Wax Market by Country
5.4.2.1 Brazil Paraffin Wax Market
5.4.2.1.1 Brazil Paraffin Wax Market by Application
5.4.2.2 Argentina Paraffin Wax Market
5.4.2.2.1 Argentina Paraffin Wax Market by Application
5.4.2.3 UAE Paraffin Wax Market
5.4.2.3.1 UAE Paraffin Wax Market by Application
5.4.2.4 Saudi Arabia Paraffin Wax Market
5.4.2.4.1 Saudi Arabia Paraffin Wax Market by Application
5.4.2.5 South Africa Paraffin Wax Market
5.4.2.5.1 South Africa Paraffin Wax Market by Application
5.4.2.6 Nigeria Paraffin Wax Market
5.4.2.6.1 Nigeria Paraffin Wax Market by Application
5.4.2.7 Rest of LAMEA Paraffin Wax Market
5.4.2.7.1 Rest of LAMEA Paraffin Wax Market by Application
Chapter 6. Company Profiles
6.1 Petro China Company Limited (China National Petroleum Corporation)
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expenses
6.1.5 SWOT Analysis
6.2 Petrobras (Petróleo Brasileiro S.A.)
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Research & Development Expenses
6.2.5 SWOT Analysis
6.3 Nippon Seiro Co., Ltd
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Regional Analysis
6.4 H&R Gmbh & Co. KGaA
6.4.1 Company Overview
6.4.2 Financial Analysis
6.4.3 Segmental and Regional Analysis
6.4.4 Research & Development Expenses
6.5 Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Segmental and Regional Analysis
6.5.4 SWOT Analysis
6.6 Sinopec Group (China Petrochemical Corporation)
6.6.1 Company Overview
6.6.2 Financial Analysis
6.6.3 Research & Development Expenses
6.6.4 SWOT Analysis
6.7 Exxon Mobil Corporation
6.7.1 Company Overview
6.7.2 Financial Analysis
6.7.3 Segmental and Regional Analysis
6.7.4 Research & Development Expenses
6.7.5 SWOT Analysis
6.8 Honeywell International, Inc.
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Segmental and Regional Analysis
6.8.4 Research & Development Expenses
6.8.5 SWOT Analysis
6.9 Sasol Limited
6.9.1 Company Overview
6.9.2 Financial Analysis
Chapter 7. Winning Strategies of Paraffin Wax Market

Companies Mentioned

  • Petro China Company Limited (China National Petroleum Corporation)
  • Sinopec Group (China Petrochemical Corporation)
  • Sasol Limited
  • Exxon Mobil Corporation
  • (Petrobras) Petróleo Brasileiro S.A
  • Nippon Seiro Co., Ltd.
  • H&R Gmbh & Co. KGaA
  • Honeywell International Inc.
  • Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)

Methodology

Loading
LOADING...