Global Industrial Wax Market Report 2021

DUBLIN, Jan. 20, 2021 /PRNewswire/ -- The "Industrial Wax Market by Type (Fossil-based wax, Synthetic wax, Bio-Based wax), Application(Candles, Packaging, Coatings & Polishes, Hot-melt Adhesives, Tires & Rubber, Cosmetics & Personal Care, Food), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Industrial wax market was USD 7.3 billion in 2020 and is projected to reach USD 8.9 billion by 2025, at a CAGR of 4% from 2020.

Waxes are the main constituents for the production of candles across the globe. Majorly, paraffin, microcrystalline, animal, and vegetable wax are used for manufacturing various types of candles based on the requirement such as fragrance, color, burn time and environmental friendliness. These candles are used for decoration, festive ceremonies due to their religious belief, lifestyle, and living habit.

Growing cosmetic and personal care industry supports market growth.

The increase in population, changing lifestyle, living standards increase in per-capita income, and growing old concerns are the major factors supporting the growth of the cosmetics and personal care industry. The global cosmetic market was over USD 246 billion in 2019 and had registered a growth of 5.5% as compared to 2018. Also, the growth of cosmetic and personal care products is expected to register double-digit growth in developing countries such as China, India, and ASEAN countries.

The cosmetic industry uses wax for various applications such as lipsticks, baby products, eye, and facial makeup, nail care, skincare, suntan/sunscreen, and fragrance due to their structuring agents, rigidity, glossy, flexibility, stickiness, and barrier properties. Beeswax, candelilla, carnauba, and paraffin waxes are among the most commonly used industrial wax for cosmetics applications.

COVID-19 impact on the industrial wax market.

COVID-19 outbreak has significant impact on most of the North American and European countries, especially the U.S., Italy, Spain, the UK, France, and Germany. The impact was further intensified by declining oil and gas prices. The suspension of manufacturing activities and disruption of the supply chain has resulted in a decline for industrial wax from these countries. Further, declining demand for cosmetics, candles, and consumer products across the globe wherein the waxes are used has resulted in a slump in industrial wax demand across the globe.

Candles industry is estimated to have the largest share in Industrial wax market.

Candles are primarily made from microcrystalline wax, beeswax, and plant wax such as carnauba, soybean, and bayberry wax). Candles are one of the oldest applications of wax, which is still the fastest-growing market owing to the increasing importance of decorative items and therapeutic uses. The growing importance of candles for religious purposes has forced the wax manufacturers to produce wax from vegetable-based materials such as soybean oil, palm oil, beeswax, and even tallow. This has triggered the demand for vegetable-based waxes globally.

Asia-Pacific is largest market for industrial wax due to growing economies such as China, India, Japan, and other Asian countries like South Korea and Indonesia. The Asia-Pacific has the largest market for the candle industry. Within Asia, China dominates the market for candles and the packaging industry. The growth is led by rapid industrialization, growing demand from various applications, and growing per capita income in these regions. The growing demand for candles is derived from decoration, religious belief, and various lifestyle and living habits.

The leading players in the industrial wax market include ExxonMobil (US), Royal Dutch Shell (Netherlands), Sinopec (China), Sasol (South Africa), CNPC (China), and HollyFrontier (US).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Overview
4.1. Introduction
4.2. Forecast Impact Factors
4.2.1. COVID 19 Impact Analysis
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Challenges
4.3.4. Opportunity
4.4. Porter's Five Forces Analysis
4.5. Ecosystem Market Map
4.6. Supply Chain and Value Chain Analysis
4.6.1. Disruption Due to COVID19
4.7. Regulatory Landscape
4.8. Technology Analysis
4.9. Patent Analysis
4.10. Average Selling Price Analysis
4.11. YC, YCC Shift
4.12. Macroeconomic Indicators
4.13. Trade Data Analysis Key exporting and importing countries
4.14. Adjacent markets
4.15. Case Study

5 Industrial wax Market, By Type - Forecast till 2025 (Volume and Value)
5.1. Introduction
5.2. Fossil-based waxes
5.2.1. Mineral Wax
5.2.2. Paraffin Wax
5.2.3. Microcrystalline Wax
5.3. Synthetic waxes
5.3.1. Fischer-Topsch Wax
5.3.2. Other
5.4. Bio-based waxes

6 Industrial wax Market, By Application - Forecast till 2025 (Volume and Value)
6.1. Introduction
6.2. Candles
6.3. Packaging
6.4. Coatings & Polishing
6.5. Hot Melt Adhesive
6.6. Tire & Rubber
6.7. Cosmetics & Personal Care
6.8. Food
6.9. Others

7 Industrial wax Market, By Region - Forecast till 2025 (Volume and Value)

8 Competitive Landscape
8.1. Overview
8.2. Market Evaluation Framework
8.3. Market Share Analysis / Industry Tier Structure
8.4. Revenue Analysis of Top Players
8.5. Key Market Development
8.5.1. Expansions
8.5.2. Acquisitions
8.5.3. New Product launches
8.6. Company Evaluation Matrix Definition and Methodology
8.6.1. Product Footprint
8.6.2. Star
8.6.3. Emerging Leader
8.6.4. Pervasive
8.7. Company Evaluation Matrix, 2019

9 Company Profiles

• CEPSA
• Calumet Specialty Products Partners, L.P.
• China National Petroleum Corporation
• Evonik Industries
• Exxon Mobil Corp
• Gandhar Oil Refinery
• HCI
• HollyFrontier Corporation
• International Group Inc.
• Kerax Ltd
• Koster Keunen
• Numaligarh Refinery Ltd
• Oil Co. Lukoil PJSC
• Petroleo Brasileiro S.A. (Petrobras)
• Royal Dutch Shell PLC
• SINOPEC
• SIWAX Group
• Sasol Ltd.
• The Blayson Group Ltd
• The Darent Wax Company

For more information about this report visit https://www.researchandmarkets.com/r/o027vn

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