GLOBAL INDUSTRIAL WAX MARKET FORECAST 2020-2028

The global industrial wax market is expected to reach $13018.32 million by 2028, growing at a CAGR of 4.64% during the forecast period. The base year considered for the study is 2019, and the estimated period is between 2020 & 2028.

Primary factors boosting the global industrial wax market growth are:

  • Rising demand from several applications
  • Growing adoption of synthetic waxes
  • Technological advancements in the wax market
  • Growing population and increasing per capita income

INDUSTRIAL WAX MARKET

The growing demand from multiple applications is a crucial factor for the industrial wax market growth. The increasing demand for industrial waxes from the hot melt adhesives, coating & polishes, and tires & rubber applications is expected to boost the industrial wax market growth during the forecast period. The important factors that are influencing the growth of the hot melt adhesives segment include the rising demand from the packaging and automotive industries and increasing environmental concerns.

In 2019, around 68.22% of revenue share was captured by fossil-based waxes. On the other hand, synthetic-based waxes are anticipated to be the fastest-growing industrial wax type. Fossil waxes include mineral wax and petroleum wax, which are largely used in the coatings of commercial products. Mineral wax is widely used as a fundamental element in many cosmetic products, and therefore, is a crucial part of cosmetics. It is believed to have skin-care properties, and it can also act as a delivery agent of active ingredients with consistency. The growing cosmetics market as a result of increasing awareness about grooming, and rising e-commerce, in turn, propels the industrial wax market growth.

The shrinking supply of paraffin wax, rising prices of synthetic and bio-based wax, and declining use of fossil-based wax in the packaging industry are restricting the growth of the global industrial wax market.

The report on the global industrial wax market includes segmentation analysis on the basis of type and application.

Market by Type:

  • Bio-Based Waxes
  • Synthetic Based Waxes
  • Fossil Based Waxes

Market by Application:

  • Tires & Rubber
  • Food
  • Coatings & Polishes
  • Hot Melt Adhesives
  • Candles
  • Cosmetics & Personal Care
  • Packaging
  • Others

The global industrial wax market is geographically analyzed by segmenting the market into four major regions, which includes:

  • North America: the United States and Canada
  • Europe: the United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and Rest of Europe
  • Asia Pacific: China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Thailand, Vietnam, and Rest of Asia Pacific
  • Rest of World: Latin America, the Middle East & Africa

In 2019, North America captured the largest market share of 32.88% in terms of revenue. North America is an important market for industrial wax. The region accounts for the largest share of the global industrial wax market presently. Rising demand from various applications such as candles, cosmetics & personal care, tire & rubber, and hot melt adhesive would be the key driver for the growth of the industrial wax market in North America.

Asia-Pacific is the fastest-growing region for the industrial wax market. It is mostly due to the high economic growth rates, followed by growing application industries such as candle making, packaging, coatings and polishes, and others. With the economic slowdown and saturation of markets in Western Europe, and to an extent in North America, the market is inclined towards the Asia-Pacific region.

The eminent players involved in the global industrial wax market are:

  • Exxon Mobil Corp.
  • Royal Dutch Shell Plc
  • Evonik Industries
  • Sinopec Corp.
  • Sasol Ltd.

Major trends of the global industrial wax market:

  • The cosmetics industry is set to emerge as a lucrative application segment in the future.
  • Fossil based wax dominates, but the synthetic wax shows rapid growth.
  • There is a growing demand for unconventional waxes.

TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES `
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. PARENT MARKET ANALYSIS: WAX MARKET
    2. MARKET DEFINITION
    3. KEY DRIVERS
      1. RISING DEMAND FROM MULTIPLE APPLICATIONS
      2. INCREASING ACCEPTANCE OF SYNTHETIC WAXES
      3. TECHNOLOGY CHANGES IN THE WAX MARKET
      4. GROWING POPULATION AND INCREASING PER CAPITA INCOME
    4. KEY RESTRAINTS
      1. SHRINKING SUPPLY OF PARAFFIN WAX
      2. INCREASING PRICES OF SYNTHETIC AND BIO-BASED WAXES
      3. DECLINING USE OF FOSSIL BASED WAX IN PACKAGING INDUSTRY
  4. KEY ANALYTICS
    1. KEY INVESTMENT INSIGHTS
    2. PORTER’S FIVE FORCE ANALYSIS
      1. BUYER POWER
      2. SUPPLIER POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. OPPORTUNITY MATRIX
    4. VENDOR LANDSCAPE
    5. VALUE CHAIN ANALYSIS
  5. MARKET BY TYPE
    1. FOSSIL BASED WAXES
    2. SYNTHETIC BASED WAXES
    3. BIO-BASED WAXES
  6. MARKET BY APPLICATION
    1. CANDLES
    2. PACKAGING
    3. COATINGS & POLISHES
    4. HOT MELT ADHESIVES
    5. TIRES & RUBBER
    6. COSMETICS & PERSONAL CARE
    7. FOOD
    8. OTHER APPLICATIONS
  7. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. UNITED STATES
      2. CANADA
    2. EUROPE
      1. UNITED KINGDOM
      2. GERMANY
      3. FRANCE
      4. ITALY
      5. RUSSIA
      6. BELGIUM
      7. POLAND
      8. REST OF EUROPE
    3. ASIA PACIFIC
      1. CHINA
      2. JAPAN
      3. INDIA
      4. SOUTH KOREA
      5. AUSTRALIA & NEW ZEALAND
      6. THAILAND
      7. INDONESIA
      8. VIETNAM
      9. REST OF ASIA PACIFIC
    4. REST OF WORLD
      1. LATIN AMERICA
      2. MIDDLE EAST & AFRICA
  8. COMPANY PROFILES
    1. SINOPEC CORP.
    2. ROYAL DUTCH SHELL PLC
    3. EVONIK INDUSTRIES
    4. EXXON MOBIL CORP
    5. SASOL LTD.
    6. LUKOIL
    7. NUMALIGARH REFINERY LTD.
    8. HONG CHANG INTERNATIONAL
    9. THE BLAYSON GROUP LTD.
    10. INTERNATIONAL GROUP INC.
LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – INDUSTRIAL WAX

TABLE 2: GLOBAL INDUSTRIAL WAX MARKET, BY TYPE, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 3: GLOBAL INDUSTRIAL WAX MARKET, BY TYPE, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 4: GLOBAL FOSSIL BASED WAXES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 5: GLOBAL FOSSIL BASED WAXES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 6: GLOBAL SYNTHETIC WAX MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 7: GLOBAL SYNTHETIC WAX MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 8: GLOBAL BIO-BASED WAXES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 9: GLOBAL BIO-BASED WAXES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 10: GLOBAL INDUSTRIAL WAX MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 11: GLOBAL INDUSTRIAL WAX MARKET, BY APPLICATION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 12: GLOBAL CANDLES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 13: GLOBAL CANDLES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 14: GLOBAL PACKAGING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 15: GLOBAL PACKAGING MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 16: GLOBAL COATINGS & POLISHES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 17: GLOBAL COATINGS & POLISHES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 18: GLOBAL HOT MELT ADHESIVES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 19: GLOBAL HOT MELT ADHESIVES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 20: GLOBAL TIRES & RUBBER MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 21: GLOBAL TIRES & RUBBER MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 22: GLOBAL COSMETICS & PERSONAL CARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 23: GLOBAL COSMETICS & PERSONAL CARE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 24: GLOBAL FOOD MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 25: GLOBAL FOOD MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 26: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 27: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 28: GLOBAL INDUSTRIAL WAX MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 29: GLOBAL INDUSTRIAL WAX MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 30: NORTH AMERICA INDUSTRIAL WAX MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 31: NORTH AMERICA INDUSTRIAL WAX MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 32: EUROPE INDUSTRIAL WAX MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 33: EUROPE INDUSTRIAL WAX MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 34: ASIA PACIFIC INDUSTRIAL WAX MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 35: ASIA PACIFIC INDUSTRIAL WAX MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 36: REST OF WORLD INDUSTRIAL WAX MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 37: REST OF WORLD INDUSTRIAL WAX MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER’S FIVE FORCE ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL INDUSTRIAL WAX MARKET, GROWTH POTENTIAL, BY TYPE, IN 2019

FIGURE 6: GLOBAL INDUSTRIAL WAX MARKET, BY FOSSIL BASED WAXES, 2020-2028 (IN $ MILLION)

FIGURE 7: GLOBAL INDUSTRIAL WAX MARKET, BY SYNTHETIC BASED WAXES, 2020-2028 (IN $ MILLION)

FIGURE 8: GLOBAL INDUSTRIAL WAX MARKET, BY BIO-BASED WAXES, 2020-2028 (IN $ MILLION)

FIGURE 9: GLOBAL INDUSTRIAL WAX MARKET, GROWTH POTENTIAL, BY DEPLOYMENT MODEL, IN 2019

FIGURE 10: GLOBAL INDUSTRIAL WAX MARKET, BY CANDLES, 2020-2028 (IN $ MILLION)

FIGURE 11: GLOBAL INDUSTRIAL WAX MARKET, BY PACKAGING, 2020-2028 (IN $ MILLION)

FIGURE 12: GLOBAL INDUSTRIAL WAX MARKET, BY COATINGS & POLISHES, 2020-2028 (IN $ MILLION)

FIGURE 13: GLOBAL INDUSTRIAL WAX MARKET, BY HOT MELT ADHESIVES, 2020-2028 (IN $ MILLION)

FIGURE 14: GLOBAL INDUSTRIAL WAX MARKET, BY TIRES & RUBBER, 2020-2028 (IN $ MILLION)

FIGURE 15: GLOBAL INDUSTRIAL WAX MARKET, BY COSMETICS & PERSONAL CARE, 2020-2028 (IN $ MILLION)

FIGURE 16: GLOBAL INDUSTRIAL WAX MARKET, BY FOOD, 2020-2028 (IN $ MILLION)

FIGURE 17: GLOBAL INDUSTRIAL WAX MARKET, BY OTHER APPLICATIONS, 2020-2028 (IN $ MILLION)

FIGURE 18: NORTH AMERICA INDUSTRIAL WAX MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 19: UNITED STATES INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 20: CANADA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 21: EUROPE INDUSTRIAL WAX MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 22: UNITED KINGDOM INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 23: GERMANY INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 24: FRANCE INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 25: ITALY INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 26: RUSSIA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 27: BELGIUM INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 28: POLAND INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 29: REST OF EUROPE INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 30: ASIA PACIFIC INDUSTRIAL WAX MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 31: CHINA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 32: JAPAN INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 33: INDIA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 34: SOUTH KOREA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 35: AUSTRALIA & NEW ZEALAND INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 36: THAILAND INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 37: INDONESIA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 38: VIETNAM INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 39: REST OF ASIA PACIFIC INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 40: REST OF WORLD INDUSTRIAL WAX MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 41: LATIN AMERICA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 42: MIDDLE EAST & AFRICA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

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