NORTH AMERICA INDUSTRIAL WAX MARKET 2020-2028

Chemicals & Materials | Petrochemicals

NORTH AMERICA INDUSTRIAL WAX MARKET 2020-2028

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

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A Triton Market Research report on the North American industrial wax market has determined that the industry would exhibit growth at a CAGR of 4.21% in the estimated years between 2020 and 2028.

The countries evaluated in the North American industrial wax market are:

•     Canada

     The United States



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The US is a major importer of industrial wax, especially from countries like China. The gradual reduction in the wax production capabilities has pushed the industrial wax users towards the Fischer-Tropsch (FT) wax. The rising adoption of the FT waxes, rather than paraffin wax, is likely to fuel the demand for synthetic wax in the forthcoming years. The supply gap that was produced due to the closing of Group I base oil, is giving potential opportunities for synthetic and bio-based wax in the market. The FT waxes are able to fill the void created by the reduction in paraffin wax supply. Hence, synthetic wax is expected to witness substantial growth as compared to fossil-based wax.

The Canadian packaging industry is beneficial for the growth of the industrial wax market in the country. There is an increase in the demand for packaging products that can be utilized on multiple consumption occasions, thereby complying with the concerns regarding recycling and sustainability. The packaging industry is involved in sectors like food, alcoholic & non-alcoholic drinks, beauty & personal care. The packaging innovations in these segments are centered on portability mostly by favoring smaller pack sizes or by using materials that are used for different consumption occasions. Industrial wax is used in the packaging industry and thus the growth in this sector will subsequently lead to the growth in the industrial wax market in the region.

Established in 1945, International Group Inc is a company providing synthetic, petroleum and non-petroleum wax products. The company has its headquarters in Toronto, Ontario, Canada. The company provides products, including microcrystalline wax, paraffin wax, polyethylene wax and synthetic waxes.

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Table of Content

1.    NORTH AMERICA 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 – NORTH AMERICA

5.1. UNITED STATES

5.2. CANADA

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: NORTH AMERICA INDUSTRIAL WAX MARKET, 2020-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD        

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

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

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

List of Figures

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

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

FIGURE 3: PORTER’S FIVE FORCE ANALYSIS        

FIGURE 4: MARKET ATTRACTIVENESS INDEX       

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

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

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

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

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

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

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

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

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

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

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

FIGURE 16: NORTH AMERICA 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) 

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