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The Industrial Wax Market was estimated to be worth USD 7.10 billion in 2022 and is anticipated to grow to USD 10.9 billion by 2030, expanding at a CAGR of 5.4% from 2023 to 2030.
The market is rising as a result of the increasing demand from the packaging industries for wax due to its excellent lubricating and moisture resistance capabilities. The market is comprehensively evaluated in the study on the global industrial wax market. The research provides a thorough analysis of the market's key segments, trends, drivers, restraints, competitive environment, and other important elements.
An example of an organic substance is industrial wax, which is solid at ambient temperature and liquid that flows freely at slightly higher temperatures. Due to these characteristics, it is a crucial component in the production of candles, glue, additives, packaging, rubber, cosmetics, and home care items. Wax is produced with the use of a number of bio-based resources and chemical synthesis procedures.
High use of industrial waxes is anticipated to have a substantial impact on market growth during the forecast period due to its high levels of anti-caking, UV resistance, great insulation, superior moisture and odor resistance, and resistance to microorganisms. The need for wax is also increasing due to the expansion of the culinary, candle, packaging, and personal care industries worldwide. The main drivers of the expansion of the cosmetics & personal care sector include a changing lifestyle, rising living standards, per capita income, increasing demand for ecological cosmetics, and increased demand for skin-hair care products globally. Waxes play an important role in the creation of beauty goods in the cosmetics and personal care industries.
In North America and Europe, industrial wax is in high demand for packaging purposes. But the trend is away from increasing packaging needs. Nowadays, the health risks connected to the use of paraffin wax in food packaging are of greater concern. As a result, the food packaging sector in North America and Europe is increasingly using natural waxes. Furthermore, laws regarding the usage of industrial waxes have been imposed by governmental bodies including the FDA and the European Union. The expanding meat packing sector is another factor contributing to the rising need for natural waxes.
Industrial wax is an organic material that is used in several industrial applications and serves as a crucial component in a variety of goods. owing to wax's extrudability and moldability. It is used in the creation of candles, textiles, cosmetics, coatings, lubricants, medicinal treatments, adhesives, polishes, and a variety of other products. Whereas bio-based wax is used on fire logs and is environmentally friendly, wax used in industries is artificially based, bio-based, or fossil-based. End markets for industrial wax, as well as the pharmaceutical, cosmetic, and plastics industries, have all seen recent growth on a global scale. The Industrial Wax Market has expanded as a result of strong domestic demand for chemicals and goods with a petroleum foundation.
There could be a significant increase in the demand for raw materials including petroleum waxes, bio-based waxes, and synthetic waxes as a result of growing strategic alliances between various end users. Industry leaders, including those in the pharmaceutical and cosmetics industries, are looking to enter into strategic partnerships in order to expand their business portfolios and market dominance. Increased end-user strategic alliances may result in a robust demand for raw materials like rock oil waxes, bio-based waxes, or synthetic waxes. As a result, it is expected that the worldwide industrial wax market will rise strongly throughout the forecast period.
Demand for bio-based wax is rising for uses including food packaging and cosmetics. The significant use of naturally occurring waxes for the food and cosmetics industries can be ascribed to the desire for bio-based waxes. There are also a lot of prospects for market expansion due to the expanding food packaging sector. Epoxides of fatty acid esters and non-hydrogenated vegetable oils make up bio-based wax. Due to customer demand for bio-based candles and packaging as eco-friendly substitutes for paraffin candles, which are petroleum-based, the demand for bio-based wax is high. Bio-based waxes, such as soy candles made from soybean oil derivatives, are more dependable than paraffin wax products. The market is expanding as a result of this shift toward environmentally friendly wax application methods.
Report Coverage
Global Industrial Wax research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Industrial Wax report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Industrial Wax competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Industrial Wax market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Industrial Wax market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Industrial Wax market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ExxonMobil(US), Royal Dutch Shell PLC (Netherlands), Sinopec (China), Sasol Ltd (South Africa),CEPSA (Spain), Hollyfrontier Corporation (US), Calumet Specialty Products Partners (US), Gandhar Oil refinery (India), Numaligarh Refinery Limited (India), Petróleo Brasileiro (Brazil), THE PJSC Lukoil Oil Company (Russia), Petroleo Brasileiro, Exxon Mobil, The Blaydon Group, International Group, and HCl.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Industrial Wax market based on the below-mentioned segments:
Global Industrial Wax Market, By Type
Fossil-Based Wax
Synthetic Wax
Bio-based Wax
Global Industrial Wax market, By Application
Candles
Coatings & Polishes
Packaging
Food
Tires & Rubber
Cosmetics & Personal Care
Hot-melt Adhesives
Others
Global Industrial Wax market, Regional Analysis
The market is rising as a result of the increasing demand from the packaging industries for wax due to its excellent lubricating and moisture resistance capabilities. The market is comprehensively evaluated in the study on the global industrial wax market. The research provides a thorough analysis of the market's key segments, trends, drivers, restraints, competitive environment, and other important elements.
An example of an organic substance is industrial wax, which is solid at ambient temperature and liquid that flows freely at slightly higher temperatures. Due to these characteristics, it is a crucial component in the production of candles, glue, additives, packaging, rubber, cosmetics, and home care items. Wax is produced with the use of a number of bio-based resources and chemical synthesis procedures.
High use of industrial waxes is anticipated to have a substantial impact on market growth during the forecast period due to its high levels of anti-caking, UV resistance, great insulation, superior moisture and odor resistance, and resistance to microorganisms. The need for wax is also increasing due to the expansion of the culinary, candle, packaging, and personal care industries worldwide. The main drivers of the expansion of the cosmetics & personal care sector include a changing lifestyle, rising living standards, per capita income, increasing demand for ecological cosmetics, and increased demand for skin-hair care products globally. Waxes play an important role in the creation of beauty goods in the cosmetics and personal care industries.
In North America and Europe, industrial wax is in high demand for packaging purposes. But the trend is away from increasing packaging needs. Nowadays, the health risks connected to the use of paraffin wax in food packaging are of greater concern. As a result, the food packaging sector in North America and Europe is increasingly using natural waxes. Furthermore, laws regarding the usage of industrial waxes have been imposed by governmental bodies including the FDA and the European Union. The expanding meat packing sector is another factor contributing to the rising need for natural waxes.
Industrial wax is an organic material that is used in several industrial applications and serves as a crucial component in a variety of goods. owing to wax's extrudability and moldability. It is used in the creation of candles, textiles, cosmetics, coatings, lubricants, medicinal treatments, adhesives, polishes, and a variety of other products. Whereas bio-based wax is used on fire logs and is environmentally friendly, wax used in industries is artificially based, bio-based, or fossil-based. End markets for industrial wax, as well as the pharmaceutical, cosmetic, and plastics industries, have all seen recent growth on a global scale. The Industrial Wax Market has expanded as a result of strong domestic demand for chemicals and goods with a petroleum foundation.
There could be a significant increase in the demand for raw materials including petroleum waxes, bio-based waxes, and synthetic waxes as a result of growing strategic alliances between various end users. Industry leaders, including those in the pharmaceutical and cosmetics industries, are looking to enter into strategic partnerships in order to expand their business portfolios and market dominance. Increased end-user strategic alliances may result in a robust demand for raw materials like rock oil waxes, bio-based waxes, or synthetic waxes. As a result, it is expected that the worldwide industrial wax market will rise strongly throughout the forecast period.
Demand for bio-based wax is rising for uses including food packaging and cosmetics. The significant use of naturally occurring waxes for the food and cosmetics industries can be ascribed to the desire for bio-based waxes. There are also a lot of prospects for market expansion due to the expanding food packaging sector. Epoxides of fatty acid esters and non-hydrogenated vegetable oils make up bio-based wax. Due to customer demand for bio-based candles and packaging as eco-friendly substitutes for paraffin candles, which are petroleum-based, the demand for bio-based wax is high. Bio-based waxes, such as soy candles made from soybean oil derivatives, are more dependable than paraffin wax products. The market is expanding as a result of this shift toward environmentally friendly wax application methods.
Report Coverage
Global Industrial Wax research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Industrial Wax report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Industrial Wax competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Industrial Wax market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ExxonMobil(US), Royal Dutch Shell PLC (Netherlands), Sinopec (China), Sasol Ltd (South Africa),CEPSA (Spain), Hollyfrontier Corporation (US), Calumet Specialty Products Partners (US), Gandhar Oil refinery (India), Numaligarh Refinery Limited (India), Petróleo Brasileiro (Brazil), THE PJSC Lukoil Oil Company (Russia), Petroleo Brasileiro, Exxon Mobil, The Blaydon Group, International Group, and HCl. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Industrial Wax Market from 2021 to 2030.
- Market Forecast for Industrial Wax Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Industrial Wax competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Industrial Wax
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Industrial Wax market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Industrial Wax market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ExxonMobil(US), Royal Dutch Shell PLC (Netherlands), Sinopec (China), Sasol Ltd (South Africa),CEPSA (Spain), Hollyfrontier Corporation (US), Calumet Specialty Products Partners (US), Gandhar Oil refinery (India), Numaligarh Refinery Limited (India), Petróleo Brasileiro (Brazil), THE PJSC Lukoil Oil Company (Russia), Petroleo Brasileiro, Exxon Mobil, The Blaydon Group, International Group, and HCl.
Primary Target Market
- Market Players of Industrial Wax
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Industrial Wax market based on the below-mentioned segments:
Global Industrial Wax Market, By Type
Fossil-Based Wax
Synthetic Wax
Bio-based Wax
Global Industrial Wax market, By Application
Candles
Coatings & Polishes
Packaging
Food
Tires & Rubber
Cosmetics & Personal Care
Hot-melt Adhesives
Others
Global Industrial Wax market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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