ASIA-PACIFIC INDUSTRIAL WAX MARKET 2020-2028

Chemicals & Materials | Petrochemicals

ASIA-PACIFIC INDUSTRIAL WAX MARKET 2020-2028

Market By Type, Application And Geography | Forecast 2020-2028

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A Triton Market Research report has estimated that the industrial wax market in the Asia-Pacific region would grow at a CAGR of 4.77% during the period 2020-2028.

The countries studied in the Asia-Pacific industrial wax market are:

     South Korea                                           

     China

•     ASEAN countries

•     Japan

     India

•     Australia & New Zealand

     Rest of APAC countries



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Foreign investments are primarily driving the growth in the Chinese market. The cheap labor rates and readily available raw materials are boosting the production sector in the country. The country’s industrial sector is a lucrative market for global investors and several collaborations & mergers or joint ventures have been signed between foreign companies and Chinese corporations. With the excellent globalization and substantial capital investments & developmental projects in line in the infrastructure segment, China is trying to retain its position in the global market. It is one of the largest exporters of paraffin wax in the world. An increase in the supply of synthetic waxes has been witnessed, which is anticipated to contribute to the industrial wax market growth in China.

India is a leading exporter of refined petroleum commodities. A constant increase in the refining capacity is observed in India. Industrial wax is produced in the refining of crude oil. With the continuous growth in the country's oil & gas industry, coupled with other wax types like beeswax and vegetable wax, the industrial wax market is likely to witness rapid growth in India. The growing purchasing power of the consumers is anticipated to fuel the demand for cosmetics and personal care, thereby augmenting the demand for industrial wax in the candle application. The booming automotive industry in India is pushing the demand for tire & rubber applications, which is also an end-user segment of the industrial wax market.

Established in 2000, Sinopec Corp is one of the leading oil & gas companies. It is headquartered in Beijing, China. Sinopec’s operations include exploration, production, extraction, transmission & sales and oil refining. The company is also involved in the production, sales, storage and transportation of products like petrochemicals, chemical fertilizers, chemical fibers and other chemical products.

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Table of Content

1.    ASIA-PACIFIC INDUSTRIAL WAX MARKET - SUMMARY

2.    INDUSTRY OUTLOOK

2.1. MARKET DEFINITION

2.2. KEY INSIGHTS

2.2.1.   FOSSIL-BASED WAX DOMINATES THE MARKET

2.2.2.   COSMETICS INDUSTRY TO EMERGE AS LUCRATIVE APPLICATION SEGMENT IN FUTURE

2.2.3.   RISING DEMAND FOR VARIETY OF WAXES

2.3. PORTER’S FIVE FORCE ANALYSIS

2.3.1.   THREAT OF NEW ENTRANTS

2.3.2.   THREAT OF SUBSTITUTE

2.3.3.   BARGAINING POWER OF SUPPLIERS

2.3.4.   BARGAINING POWER OF BUYERS

2.3.5.   INTENSITY OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. VALUE CHAIN ANALYSIS

2.7. MARKET DRIVERS

2.7.1.   GROWING PREFERENCE FOR SYNTHETIC WAXES

2.7.2.   CHANGES IN TECHNOLOGY

2.8. MARKET RESTRAINTS

2.8.1.   FALL IN THE SUPPLY OF PARAFFIN WAX

2.8.2.   RISING PRICE OF SYNTHETIC AND BIO-BASED WAXES

2.9. MARKET OPPORTUNITIES

2.9.1.   RISE IN THE POPULATION & GROWING PER CAPITA INCOME

2.9.2.   GROWTH IN DEMAND BY VARIOUS APPLICATIONS

2.10.  MARKET CHALLENGES

2.10.1.  DECLINE IN THE USE OF FOSSIL-BASED WAX IN PACKAGING INDUSTRY

3.    INDUSTRIAL WAX MARKET OUTLOOK - BY TYPE

3.1. FOSSIL-BASED WAXES

3.2. SYNTHETIC-BASED WAXES

3.3. BIO-BASED WAXES

4.    INDUSTRIAL WAX MARKET OUTLOOK - BY APPLICATION

4.1. CANDLES

4.2. PACKAGING

4.3. COATINGS & POLISHES

4.4. HOT MELT ADHESIVES

4.5. TIRES & RUBBER

4.6. COSMETICS & PERSONAL CARE

4.7. FOOD

4.8. OTHER APPLICATIONS

5.    INDUSTRIAL WAX MARKET – ASIA-PACIFIC

5.1. CHINA

5.2. JAPAN

5.3. INDIA

5.4. SOUTH KOREA

5.5. ASEAN COUNTRIES

5.6. AUSTRALIA & NEW ZEALAND

5.7. REST OF ASIA-PACIFIC

6.    COMPETITIVE LANDSCAPE

6.1. SINOPEC CORP (CHINA PETROCHEMICAL CORPORATION)

6.2. ROYAL DUTCH SHELL PLC (SHELL INTERNATIONAL BV)

6.3. EVONIK INDUSTRIES AG

6.4. EXXON MOBIL CORPORATION

6.5. SASOL LIMITED

6.6. LUKOIL (PJSC LUKOIL)

6.7. NUMALIGARH REFINERY LIMITED

6.8. HCI WAX (HONG CHANG INTERNATIONAL)

6.9. THE BLAYSON GROUP LTD

6.10. THE INTERNATIONAL GROUP INC

7.    RESEARCH METHODOLOGY & SCOPE

7.1. RESEARCH SCOPE & DELIVERABLES

7.1.1.   OBJECTIVES OF STUDY

7.1.2.   SCOPE OF STUDY

7.2. SOURCES OF DATA

7.2.1.   PRIMARY DATA SOURCES

7.2.2.   SECONDARY DATA SOURCES

7.3. RESEARCH METHODOLOGY

7.3.1.   EVALUATION OF PROPOSED MARKET

7.3.2.   IDENTIFICATION OF DATA SOURCES

7.3.3.   ASSESSMENT OF MARKET DETERMINANTS

7.3.4.   DATA COLLECTION

7.3.5.   DATA VALIDATION & ANALYSIS

List of table

TABLE 1: ASIA-PACIFIC INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD        

TABLE 3: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY TYPE, 2020-2028 (IN $ MILLION) 

TABLE 4: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY APPLICATION, 2020-2028 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY COUNTRY, 2020-2028 (IN $ MILLION)           

List of Figures

FIGURE 1: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY APPLICATION, 2019 & 2028 (IN %)           

FIGURE 2: ASIA-PACIFIC FOSSIL-BASED WAX MARKET, 2020-2028 (IN $ MILLION) 

FIGURE 3: PORTER’S FIVE FORCE ANALYSIS        

FIGURE 4: MARKET ATTRACTIVENESS INDEX       

FIGURE 5: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY FOSSIL-BASED WAXES, 2020-2028 (IN $ MILLION)        

FIGURE 6: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY SYNTHETIC-BASED WAXES, 2020-2028 (IN $ MILLION)          

FIGURE 7: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY BIO-BASED WAXES, 2020-2028 (IN $ MILLION)   

FIGURE 8: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY CANDLE, 2020-2028 (IN $ MILLION)           

FIGURE 9: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY PACKAGING, 2020-2028 (IN $ MILLION)      

FIGURE 10: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY COATINGS & POLISHES, 2020-2028 (IN $ MILLION)          

FIGURE 11: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY HOT MELT ADHESIVE, 2020-2028 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY TIRES & RUBBER, 2020-2028 (IN $ MILLION)      

FIGURE 13: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY COSMETICS & PERSONAL CARE, 2020-2028 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY FOOD, 2020-2028 (IN $ MILLION)           

FIGURE 15: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY OTHER APPLICATIONS, 2020-2028 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC INDUSTRIAL WAX MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 17: CHINA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)     

FIGURE 18: JAPAN INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)     

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

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

FIGURE 21: ASEAN COUNTRIES INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)    

FIGURE 22: AUSTRALIA & NEW ZEALAND INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)      

FIGURE 23: REST OF ASIA-PACIFIC INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)           

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