Industrial Wax Market Size, Trends & Growth Opportunity, by Type (Fossil-based waxes, Synthetic waxes, Bio-based waxes), by Application (Candles, Packaging, Coatings & Polishing, Food, Hot Melt Adhesive), and by geography (North America, Latin America, Europe, APAC, Middle East & Africa) and forecast till 2027
Report ID : QR1001314 | Industries : Semiconductors and Electronics | Published On :January 2022 | Page Count : 263Industrial Wax Market
Type of organic substance that is usually solid at room temperature and liquid at slightly high temperature is an Industrial wax. Hence, it is used in the manufacture process of candles, additives, packaging products, cosmetics, rubber, adhesives, and home care products. Demand for industrial wax is increasing at a rapid pace across the globe.
Market Drivers
Wax coating offers durability to packaging throughout transit and handling. Hence, the global industrial wax market is projected to expand at a significant pace during the forecast period. Wax coated paper offers adept and cost-effective wrapping solutions to guard the goods from moisture, humidity, and greasing. Some industries like cosmetics are entering into partnership with leaders in the market. Such strategic collaborations are anticipated to boost the demand for wax like bio-based wax, synthetic wax, and petroleum wax. This is likely to drive the global industrial wax market during the forecast period. Expansion of the refinery market is also likely to augment the demand for industrial wax to meet the ever-growing demand from consumers.
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Market Restraints
The demand for industrial wax in packaging applications is substantial in North America and Europe. Though, the trend is going towards decreasing demand for packaging. Nowadays Food packaging industries are more concerned about the health hazards of paraffin wax used in food packaging.
Market Segmentation
The industrial wax market can be segmented based on type, application, and region. Based on type, the global industrial wax market can be divided into synthetic wax, fossil-based wax, and bio-based wax. Based on application, the global industrial wax market can be segregated into packaging, candles, coating & polishes, hot-melt additives, cosmetics & personal care, tire & rubber, and food.
Regional Analysis
In geography, the global industrial wax market is segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to emerge as a dominant region of the global industrial wax market throughout the forecast period. China is anticipated to account for large share of the market in the region due to high consumption of coatings, packaging, and candles in the country. After China, India is anticipated to be fast-growing market for industrial wax. North America and Europe are also projected to account for vital share of the global industrial wax market during the forecast period.
Market Key Players
Key players in Industrial Wax Market are ExxonMobil, Royal Dutch Shell PLC, Sinopec, Sasol Ltd, CEPSA, Hollyfrontier Corporation, Calumet Specialty Products Partners, Gandhar Oil refinery, Numaligarh Refinery Limited, Petróleo Brasileiro
Industry Development
In August 2020, Sasol Ltd entered into a distribution agreement with DKSH Management Ltd (Switzerland) for marketing, distribution, and logistics for Sasol's chemicals and wax products in the European market.
In January 2019, Royal Dutch Shell announced the expansion of the fourth alpha olefins (A.O.) unit at Louisiana, the U.S., with a 425,000-tonne-per-year capacity.
In February 2019, HollyFrontier acquired Sonneborn (U.S.) for USD 655 million. The company is a producer of specialty hydrocarbon chemicals such as white oils, petrolatums, and waxes with manufacturing facilities in Pennsylvania and the Netherlands.
Global Industrial Wax Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data End-users
3 Executive Summary
4 Industrial Wax Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Industrial Wax Market, By Applications
5.1 Y-o-Y Growth Comparison, By Application
5.2 Industrial Wax Market Share Analysis, By Application
5.3 Industrial Wax Market Size and Forecast, By Application
5.3.1 Candles
5.3.2 Packaging
5.3.3 Coatings & Polishing
5.3.4 Hot Melt Adhesive
5.3.5 Tire & Rubber
5.3.6 Cosmetics & Personal Care
5.3.7 Food
5.3.8 Others
6 Industrial Wax Market, Types
6.1 Y-o-Y Growth Comparison, Types
6.2 Industrial Wax Market Share Analysis, Types
6.3 Industrial Wax Market Size and Forecast, Types
6.3.1 Fossil-based Waxes
6.3.1.1 Mineral Wax
6.3.1.2 Paraffin Wax
6.3.1.3 Microcrystalline Wax
6.3.2 Synthetic Waxes
6.3.2.1 Fischer-Topsch Wax
6.3.2.2 Other
6.3.3 Bio-based Waxes
7 Industrial Wax Market, By Region
7.1 Industrial Wax Market Share Analysis, By Region
7.2 Industrial Wax Market Share Analysis, By Region
7.3 Industrial Wax Market Size and Forecast, By Region
8 North America Industrial Wax Market Analysis and Forecast (2021-2027)
8.1 Introduction
8.2 North America Industrial Wax Market Share Analysis, By Application
8.3 North America Industrial Wax Market Size and Forecast, Types
8.4 North America Industrial Wax Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Industrial Wax Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 Europe Industrial Wax Market Share Analysis, By Application
9.3 Europe Industrial Wax Market Size and Forecast, Types
9.4 Europe Industrial Wax Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe
10 Asia Pacific Industrial Wax Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Asia Pacific Industrial Wax Market Share Analysis, By Application
10.3 Asia Pacific Industrial Wax Market Size and Forecast, Types
10.4 Asia Pacific Industrial Wax Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11 Latin America Industrial Wax Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Latin America Industrial Wax Market Share Analysis, By Application
11.3 Latin America Industrial Wax Market Size and Forecast, Types
11.4 Latin America Industrial Wax Market Size and Forecast, Country
11.4.1. Brazil
11.4.2. Rest of Latin America
12 Middle East Industrial Wax Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Middle East Industrial Wax Market Share Analysis, By Application
12.3 Middle East Industrial Wax Market Size and Forecast, Types
12.4 Middle East Industrial Wax Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.2. UAE
12.4.3. Egypt
12.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 ExxonMobil
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.8 Key Strategies
14.2 Royal Dutch Shell PLC
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.8 Key Strategies
14.3 Sinopec
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.8 Key Strategies
14.4 Sasol Ltd
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.8 Key Strategies
14.5 CEPSA
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.8 Key Strategies
14.6 Hollyfrontier Corporation
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Calumet Specialty Products Partners
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Gandhar Oil refinery
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Numaligarh Refinery Limited
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Petróleo Brasileiro
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies