Paraffin Wax Market Global Recent Trends, Future Opportunities, Business Strategies, Challenges, Key Players, Regional Analysis & Forecast 2025
The global paraffin wax market trends indicate the increased penetration of paraffin wax for the production of fragrance candles by virtue of economical process and equipment cost is expected to increase its usage over the coming years.
Dallas, United States – May 29, 2021 /MarketersMedia/ —
The research report on ‘global paraffin wax market’ offers an in-depth analysis of the local as well as global market. The report include historical data, provable projections, and qualitative insights of the market. The forecasts featured in this report have been presented using proven research techniques and assumptions. Furthermore, this report serves as a source of analysis and data for each and every aspect of the market.
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The global paraffin wax market size is estimated to reach from US$ 7.25 billion to US$ 9.82 billion at a CAGR of 3.9% into coming years. Growing demand for wax and it is derivatives due to its higher properties, such as non-toxicity, good water repellency, and higher chemical resistance, is likely to steer the global paraffin wax market growth during the prediction period.
Likewise, growing demand for building boards and paperboard & paper is expected to contribute the global paraffin wax market growth. Rapidly growing cosmetics and personal care, adhesive sectors, and coatings & inks are also likely to boost the product demand during the estimate period. Furthermore, Asia Pacific is estimated to witness a higher demand for synthetic derivative. Growing population and rising demand for automotive, pharmaceutical, and household products are anticipated to drive the global paraffin wax market growth into coming years.
The global paraffin wax market segmented based on the application and geographical regions. By application, the global paraffin wax market can be sub-segmented into packaging, candles, rubber, board sizing, cosmetics, hot melts, and many others. Paraffin wax is generally used in cosmetics and candles. The packaging application is expected to extend at a fast pace owing to the rise in demand for packaged food.
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In terms of geography, the global paraffin wax market can be sub-segmented into Asia Pacific, North America, MEA, Latin America, and Europe. The paraffin wax market is basically focused in Asia Pacific. The Asia Pacific market is expected to extend at a fast pace into coming future owing to the existence of developing countries such as India, China, and South Korea. Growing demand for packaging and hot melt adhesives is expected to increase the market. Likewise, the North American paraffin wax market is anticipated to expand due to the huge demand for fragrance candles and huge growth in the packaging segment. Growing demand for fragrance products and cosmetics, and growth in the food packaging industry are expected to drive the paraffin wax market in MEA. Owing to the increasing oil and gas expansion in the county, it is expected to have plenty of availability of the raw material increasing the paraffin wax market growth.
The leading players operating in this market comprise ExxonMobil, Sinopec, Honeywell Petrobras, Sasol, PetroChina Company Limited, Nippon Seiro Co., Ltd.
Key segments of the global paraffin wax market
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
Candles
Packaging
Cosmetics
Hotmelts
Board Sizing
Rubber
Others
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
North America
U.S.
Europe
Germany
Asia-Pacific
China
India
Middle East & Africa
Latin America
Brazil
Some Points from Table of Content:
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Paraffin Wax Market Overview, By ApplicationGlobal paraffin wax market share, by application, 2017 & 2025 Candles
5. Paraffin Wax Market Overview, By RegionGlobal paraffin wax market share, by region, 2017 & 2025North America
6. Industry Structure
7. Company ProfilesExxon Mobil Corporation
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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