GLOBAL INDUSTRIAL WAX MARKET 2020-2028

Chemicals & Materials | Petrochemicals

GLOBAL INDUSTRIAL WAX MARKET 2020-2028

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

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After a detailed analysis, Triton Market Research has concluded that the industrial wax market is expected to display an upward trend and is estimated to grow at a CAGR of 4.16% in terms of revenue over the forecast period of 2020 to 2028. The market is predicted to reach $12067.22 million by the year 2028.

Industrial wax is a white or yellowish hydrophobic solid at room temperature and is an organic substance. It is a free-flowing liquid at a slightly higher temperature. Though insoluble in water, waxes are soluble in nonpolar solvents. As waxes have a major proportion of hydrocarbons containing more than 20 carbon atoms, they are of complex composition. More than 80% of the industrial waxes used globally are based on petroleum feedstock.



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The industry is growing steadily towards the use of bio-based waxes and synthetic waxes with the decreasing supply from manufacturers of paraffin wax. Synthetic wax is a good replacement to fill the demand-supply gap in the industrial wax market. The bio-based waxes are particularly preferred by some specific applications, namely food, cosmetics, and personal care.

Within this report from Triton on the industrial wax market, the market definition and the key insights regarding the industry are discussed. Also, the market attractiveness matrix, vendor scorecard, value chain analysis and Porter’s five force analysis are studied for the industrial wax Industry.

Market drivers like the growing preference for synthetic waxes and changes in technology are influencing the market positively. The industry is facing market restraints like a fall in the supply of paraffin wax and the rising price of synthetic and bio-based waxes.

Key opportunities like rising population and growing per capita income can be leveraged by the industry to get towards the projected growth. Challenges such as a decline in the use of fossil based wax in the packaging industry are faced by the industry at this moment.



Geographies covered for the global industrial wax market:

           North America: United States and Canada

           Europe: United Kingdom, Germany, France, Italy, Spain, Russia and Rest of Europe

           Asia-Pacific: China, Japan, India, South Korea, ASEAN countries, Australia & New Zealand and Rest of Asia-Pacific

           Latin America: Brazil, Mexico and Rest of Latin America

           The Middle East and Africa: United Arab Emirates, Turkey, Saudi Arabia, South Africa and Rest of Middle East & Africa

The global industrial wax market is segmented as :

•     Market by Type:

o    Fossil-based Waxes

o    Synthetic-based Waxes

o    Bio-based Waxes

     Market by Application:

o    Candles

o    Packaging

o    Coatings & Polishes

o    Hot Melt Adhesives

o    Tires & Rubber

o    Cosmetics & Personal Care

o    Food

o    Others

Some of the prominent players in the industrial wax market are China Sinopec (China Petrochemical Corporation),  Royal Dutch Shell Plc (Shell International BV), Evonik Industries AG, ExxonMobil Corporation, Sasol Limited, Lukoil (PJSC Lukoil), Numaligarh Refinery Limited, HCI Wax (Hong Chang International), The Blayson Group Ltd and The International Group Inc.

The strategic analysis for each of these companies in the industrial wax market is covered in detail. Company profiles help to dive into the information about the key market players in this industry and how much hold they have on the market. The immense growth opportunities are attracting new companies to rush into the market and thus accelerate the degree of competition.

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Table of Content

1.    GLOBAL 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 INDUSTRY MARKET - BY TYPE

3.1. FOSSIL-BASED WAXES

3.2. SYNTHETIC-BASED WAXES

3.3. BIO-BASED WAXES

4.    INDUSTRIAL WAX INDUSTRY MARKET - 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 – REGIONAL OUTLOOK

5.1. NORTH AMERICA

5.1.1.   MARKET BY TYPE

5.1.2.   MARKET BY APPLICATION

5.1.3.   COUNTRY ANALYSIS

5.1.3.1.      UNITED STATES

5.1.3.2.      CANADA

5.2. EUROPE

5.2.1.   MARKET BY TYPE

5.2.2.   MARKET BY APPLICATION

5.2.3.   COUNTRY ANALYSIS

5.2.3.1.      UNITED KINGDOM

5.2.3.2.      GERMANY

5.2.3.3.      FRANCE

5.2.3.4.      SPAIN

5.2.3.5.      ITALY

5.2.3.6.      RUSSIA

5.2.3.7.      REST OF EUROPE

5.3. ASIA-PACIFIC

5.3.1.   MARKET BY TYPE

5.3.2.   MARKET BY APPLICATION

5.3.3.   COUNTRY ANALYSIS

5.3.3.1.      CHINA

5.3.3.2.      JAPAN

5.3.3.3.      INDIA

5.3.3.4.      SOUTH KOREA

5.3.3.5.      ASEAN COUNTRIES

5.3.3.6.      AUSTRALIA & NEW ZEALAND

5.3.3.7.      REST OF ASIA-PACIFIC

5.4. LATIN AMERICA

5.4.1.   MARKET BY TYPE

5.4.2.   MARKET BY APPLICATION

5.4.3.   COUNTRY ANALYSIS

5.4.3.1.      BRAZIL

5.4.3.2.      MEXICO

5.4.3.3.      REST OF LATIN AMERICA

5.5. MIDDLE EAST AND AFRICA

5.5.1.   MARKET BY TYPE

5.5.2.   MARKET BY APPLICATION

5.5.3.   COUNTRY ANALYSIS

5.5.3.1.      THE UNITED ARAB EMIRATES

5.5.3.2.      TURKEY

5.5.3.3.      SAUDI ARABIA

5.5.3.4.      SOUTH AFRICA

5.5.3.5.      REST OF MIDDLE EAST & AFRICA

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

TABLE 2: VENDOR SCORECARD        

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

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

TABLE 5: GLOBAL INDUSTRIAL WAX MARKET, BY GEOGRAPHY, 2020-2028 (IN $ MILLION)           

TABLE 6: NORTH AMERICA INDUSTRIAL WAX MARKET, BY COUNTRY, 2020-2028 (IN $ MILLION)      

TABLE 7: NORTH AMERICA INDUSTRIAL WAX MARKET, BY TYPE, 2020-2028 (IN $ MILLION)           

TABLE 8: NORTH AMERICA INDUSTRIAL WAX MARKET, BY APPLICATION, 2020-2028 (IN $ MILLION)

TABLE 9: EUROPE INDUSTRIAL WAX MARKET, BY COUNTRY, 2020-2028 (IN $ MILLION) 

TABLE 10: EUROPE INDUSTRIAL WAX MARKET, BY TYPE, 2020-2028 (IN $ MILLION)        

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

TABLE 12: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY COUNTRY, 2020-2028 (IN $ MILLION)      

TABLE 13: ASIA-PACIFIC INDUSTRIAL WAX MARKET, BY TYPE, 2020-2028 (IN $ MILLION)           

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

TABLE 15: LATIN AMERICA INDUSTRIAL WAX MARKET, BY COUNTRY, 2020-2028 (IN $ MILLION)      

TABLE 16: LATIN AMERICA INDUSTRIAL WAX MARKET, BY TYPE, 2020-2028 (IN $ MILLION)           

TABLE 17: LATIN AMERICA INDUSTRIAL WAX MARKET, BY APPLICATION, 2020-2028 (IN $ MILLION)      

TABLE 18: MIDDLE EAST AND AFRICA INDUSTRIAL WAX MARKET, BY COUNTRY, 2020-2028 (IN $ MILLION)        

TABLE 19: MIDDLE EAST AND AFRICA INDUSTRIAL WAX MARKET, BY TYPE, 2020-2028 (IN $ MILLION)      

TABLE 20: MIDDLE EAST AND AFRICA INDUSTRIAL WAX MARKET, BY APPLICATION, 2020-2028 (IN $ MILLION)          

List of Figures

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

FIGURE 2: GLOBAL FOSSIL-BASED WAXES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 3: PORTER’S FIVE FORCE ANALYSIS        

FIGURE 4: MARKET ATTRACTIVENESS INDEX       

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

FIGURE 25: REST OF EUROPE INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)       

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

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

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

FIGURE 29: SOUTH KOREA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION) 

FIGURE 30: ASEAN COUNTRIES INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)    

FIGURE 31: AUSTRALIA & NEW ZEALAND INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)      

FIGURE 32: REST OF ASIA-PACIFIC INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)           

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

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

FIGURE 35: REST OF LATIN AMERICA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)           

FIGURE 36: THE UNITED ARAB EMIRATES INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)      

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

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

FIGURE 39: SOUTH AFRICA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

FIGURE 40: REST OF MIDDLE EAST & AFRICA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)      

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