Industrial Wax Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Industrial Wax Market

The industrial wax market size was valued at USD 9,539.7 million in 2019, and the market is now projected tgrow from USD 14,509.5 million by 2027, exhibiting a CAGR of 5.9% during the forecast period of 2023-2030.

The outbreak of COVID-19 affected the industrial wax market growth as there was the closure of manufacturers and reduced the demand for candles and soaps during the pandemic period. However, with advancement, new applications have found wax used in laminating films for packaged, fresh food, vitamins and minerals, disinfectants and medicines due tits efficiency in resisting microorganisms. This shift is driving significant market growth despite initial setbacks. The wax market is poised for recovery as packaging needs rise. The industry's adaptation tnew consumer priorities underscores its resilience.

Rising demand for scented and decorative candles as luxury items is boosting the industrial wax market share. Increased imports from countries such as China and India support high wax consumption for cosmetics, packaging and coatings applications. Wax’s properties, including water-proofing and anti-scratch features, drive its use in automotive and infrastructure industries. Growth in food packaging and insulation further fuels demand. These trends create opportunities for exporters and contribute tmarket expansion.

Also, the increasing use of bio-based wax in food packaging and cosmetic industries is expected tfuel the demand for this market. Biodegradable waxes include soy-based wax, similar tparaffin wax but is from natural renewable sources. This trend can be attributed tan increasing demand for bio-based candles and sustainable packaging. The food packaging industry's expansion offers further growth opportunities. This shift tsustainable wax applications highlights the market's focus on eco-conscious solutions.

Comprehensive Analysis of Industrial Wax Market

The industrial wax market and advanced materials industry is rising at an exponential rate due ttheir market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the advanced materials benefit management industry. These segmentations are methodically segregated by types and by applications. The type includes, Fossil Based Wax, Synthetic Wax and Bio-based Wax. The application include, Candles, Coatings & Polishes, Packaging, Food, Tires & Rubber, Cosmetics & Personal Care, Hot-melt Adhesives, and Others.

North America is expected thold a significant share of the global industrial wax market, driven by rapid industrialization and rising disposable income. The growing production of bio-based wax for personal care applications supports regional market growth. The pandemic increased demand for industrial wax, especially in food packaging for virus protection. Rising consumer lifestyles further boost wax used in cosmetics. These factors collectively contribute tNorth America's market dominance.

The top players in the market play a crucial role in the advanced materials industry assuring industrial prospectus growth and setting market standards. These players include, Sinopec (China), Exxon Mobil (U.S.), Oil Co. Lukoil PJSC (Russia), Sasol (South Africa), Royal Dutch Shell (Netherlands), Numaligarh Refinery (India), The Blayson Group (UK), International Group (Canada), HCI Wax (U.S.), Petrobras (Brazil), Calumet Specialty Products Partners L.P. (U.S.), Gandhar Oil (India) and Other Key Players. These market players provide a level-playing competitive landscape.

In March 2020, Calumet Specialty Products Partners L.P., through its subsidiary, acquired Paralogics LLC, a manufacturer of candle and industrial wax in the United States. This acquisition will provide the company with a direct route thigher-margin end markets and stretch the value chain tpackaging and blends.

Segmentation Table

Global Industrial Wax Market Scope

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Growth Rate CAGR of 5.9% from 2020 t2027

Historical Period 2016-2018

Unit Value (USD Million); Volume (KilTons)

Segmentation By Type, Application, and Geography

By Type

Fossil-Based Wax

Synthetic Wax

Bio-based Wax

By Application

Candles

Coatings & Polishes

Packaging

Food

Tires & Rubber

Cosmetics & Personal Care

Hot-melt Adhesives

Others

By Region

North America

By Type

By Application

By Country

 U.S

By Application

 Canada

By Application

Europe

By Type

By Application

By Country

 Germany

By Application

 France

By Application

 UK

By Application

 Netherlands

By Application

 Belgium

By Application

 Russia

By Application

 Rest of Europe

By Application

Asia Pacific

By Type

By Application

By Country

 China

By Application

 India

By Application

 Japan

By Application

 South Korea

By Application

 Vietnam

By Application

 Rest of Thailand

By Application

 Rest of Asia Pacific

By Application

Latin America

By Type

By Application

By Country

 Brazil

By Application

 Argentina

By Application

 Rest of Latin America

By Application

Middle East & Africa

By Type

By Application

By Country

 Saudi Arabia

By Application

 Egypt

By Application

 Rest of Middle East & Africa

By Application


1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
4.3. Latest Technological Advancement
4.4. Insights on Regulatory Scenario
4.5. Porters Five Forces Analysis
5. Qualitative Insights – Impact of COVID-19 on Global Industrial Wax Market
5.1. Supply Chain Challenges
5.2. Steps taken by Government/Companies to overcome this impact
5.3. Potential opportunities due to COVID-19 outbreak
6. Global Industrial Wax Market Analysis, Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecast
6.2.1. By Type (Volume/Value)
6.2.1.1. Fossil Based Wax
6.2.1.2. Synthetic Wax
6.2.1.3. Bio-based Wax
6.2.2. By Application (Volume/Value)
6.2.2.1. Candles
6.2.2.2. Coatings & Polishes
6.2.2.3. Packaging
6.2.2.4. Food
6.2.2.5. Tires & Rubber
6.2.2.6. Cosmetics & Personal Care
6.2.2.7. Hot-melt Adhesives
6.2.2.8. Others
6.2.3. By Region (Volume/Value)
6.2.3.1. North America
6.2.3.2. Europe
6.2.3.3. Asia Pacific
6.2.3.4. Latin America
6.2.3.5. Middle East & Africa
7. North America Industrial Wax Market Analysis, Insights and Forecast, 2016-2027
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecast
7.2.1. By Type (Volume/Value)
7.2.1.1. Fossil Based Wax
7.2.1.2. Synthetic Wax
7.2.1.3. Bio-based Wax
7.2.2. By Application (Volume/Value)
7.2.2.1. Candles
7.2.2.2. Coatings & Polishes
7.2.2.3. Packaging
7.2.2.4. Food
7.2.2.5. Tires & Rubber
7.2.2.6. Cosmetics & Personal Care
7.2.2.7. Hot-melt Adhesives
7.2.2.8. Others
7.2.3. By Country (Volume/Value)
7.2.3.1. U.S.
7.2.3.1.1. By Application (Volume/Value)
7.2.3.1.1.1. Candles
7.2.3.1.1.2. Coatings & Polishes
7.2.3.1.1.3. Packaging
7.2.3.1.1.4. Food
7.2.3.1.1.5. Tires & Rubber
7.2.3.1.1.6. Cosmetics & Personal Care
7.2.3.1.1.7. Hot-melt Adhesives
7.2.3.1.1.8. Others
7.2.3.2. Canada
7.2.3.2.1. By Application (Volume/Value)
7.2.3.2.1.1. Candles
7.2.3.2.1.2. Coatings & Polishes
7.2.3.2.1.3. Packaging
7.2.3.2.1.4. Food
7.2.3.2.1.5. Tires & Rubber
7.2.3.2.1.6. Cosmetics & Personal Care
7.2.3.2.1.7. Hot-melt Adhesives
7.2.3.2.1.8. Others
8. Europe Industrial Wax Market Analysis, Insights and Forecast, 2016-2027
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecast
8.2.1. By Type (Volume/Value)
8.2.1.1. Fossil Based Wax
8.2.1.2. Synthetic Wax
8.2.1.3. Bio-based Wax
8.2.2. By Application (Volume/Value)
8.2.2.1. Candles
8.2.2.2. Coatings & Polishes
8.2.2.3. Packaging
8.2.2.4. Food
8.2.2.5. Tires & Rubber
8.2.2.6. Cosmetics & Personal Care
8.2.2.7. Hot-melt Adhesives
8.2.2.8. Others
8.2.3. By Country (Volume/Value)
8.2.3.1. Germany
8.2.3.1.1. By Application (Volume/Value)
8.2.3.1.1.1. Candles
8.2.3.1.1.2. Coatings & Polishes
8.2.3.1.1.3. Packaging
8.2.3.1.1.4. Food
8.2.3.1.1.5. Tires & Rubber
8.2.3.1.1.6. Cosmetics & Personal Care
8.2.3.1.1.7. Hot-melt Adhesives
8.2.3.1.1.8. Others
8.2.3.2. France
8.2.3.2.1. By Application (Volume/Value)
8.2.3.2.1.1. Candles
8.2.3.2.1.2. Coatings & Polishes
8.2.3.2.1.3. Packaging
8.2.3.2.1.4. Food
8.2.3.2.1.5. Tires & Rubber
8.2.3.2.1.6. Cosmetics & Personal Care
8.2.3.2.1.7. Hot-melt Adhesives
8.2.3.2.1.8. Others
8.2.3.3. UK
8.2.3.3.1. By Application (Volume/Value)
8.2.3.3.1.1. Candles
8.2.3.3.1.2. Coatings & Polishes
8.2.3.3.1.3. Packaging
8.2.3.3.1.4. Food
8.2.3.3.1.5. Tires & Rubber
8.2.3.3.1.6. Cosmetics & Personal Care
8.2.3.3.1.7. Hot-melt Adhesives
8.2.3.3.1.8. Others
8.2.3.4. Netherlands
8.2.3.4.1. By Application (Volume/Value)
8.2.3.4.1.1. Candles
8.2.3.4.1.2. Coatings & Polishes
8.2.3.4.1.3. Packaging
8.2.3.4.1.4. Food
8.2.3.4.1.5. Tires & Rubber
8.2.3.4.1.6. Cosmetics & Personal Care
8.2.3.4.1.7. Hot-melt Adhesives
8.2.3.4.1.8. Others
8.2.3.5. Belgium
8.2.3.5.1. By Application (Volume/Value)
8.2.3.5.1.1. Candles
8.2.3.5.1.2. Coatings & Polishes
8.2.3.5.1.3. Packaging
8.2.3.5.1.4. Food
8.2.3.5.1.5. Tires & Rubber
8.2.3.5.1.6. Cosmetics & Personal Care
8.2.3.5.1.7. Hot-melt Adhesives
8.2.3.5.1.8. Others
8.2.3.6. Russia
8.2.3.6.1. By Application (Volume/Value)
8.2.3.6.1.1. Candles
8.2.3.6.1.2. Coatings & Polishes
8.2.3.6.1.3. Packaging
8.2.3.6.1.4. Food
8.2.3.6.1.5. Tires & Rubber
8.2.3.6.1.6. Cosmetics & Personal Care
8.2.3.6.1.7. Hot-melt Adhesives
8.2.3.6.1.8. Others
8.2.3.7. Rest of Europe
8.2.3.7.1. By Application (Volume/Value)
8.2.3.7.1.1. Candles
8.2.3.7.1.2. Coatings & Polishes
8.2.3.7.1.3. Packaging
8.2.3.7.1.4. Food
8.2.3.7.1.5. Tires & Rubber
8.2.3.7.1.6. Cosmetics & Personal Care
8.2.3.7.1.7. Hot-melt Adhesives
8.2.3.7.1.8. Others
9. Asia-Pacific Industrial Wax Market Analysis, Insights and Forecast, 2016-2027
9.1. Key Findings / Summary
9.2. Market Size Estimates and Forecast
9.2.1. By Type (Volume/Value)
9.2.1.1. Fossil Based Wax
9.2.1.2. Synthetic Wax
9.2.1.3. Bio-based Wax
9.2.2. By Application (Volume/Value)
9.2.2.1. Candles
9.2.2.2. Coatings & Polishes
9.2.2.3. Packaging
9.2.2.4. Food
9.2.2.5. Tires & Rubber
9.2.2.6. Cosmetics & Personal Care
9.2.2.7. Hot-melt Adhesives
9.2.2.8. Others
9.2.3. By Country (Volume/Value)
9.2.3.1. China
9.2.3.1.1. By Application (Volume/Value)
9.2.3.1.1.1. Candles
9.2.3.1.1.2. Coatings & Polishes
9.2.3.1.1.3. Packaging
9.2.3.1.1.4. Food
9.2.3.1.1.5. Tires & Rubber
9.2.3.1.1.6. Cosmetics & Personal Care
9.2.3.1.1.7. Hot-melt Adhesives
9.2.3.1.1.8. Others
9.2.3.2. India
9.2.3.2.1. By Application (Volume/Value)
9.2.3.2.1.1. Candles
9.2.3.2.1.2. Coatings & Polishes
9.2.3.2.1.3. Packaging
9.2.3.2.1.4. Food
9.2.3.2.1.5. Tires & Rubber
9.2.3.2.1.6. Cosmetics & Personal Care
9.2.3.2.1.7. Hot-melt Adhesives
9.2.3.2.1.8. Others
9.2.3.3. Japan
9.2.3.3.1. By Application (Volume/Value)
9.2.3.3.1.1. Candles
9.2.3.3.1.2. Coatings & Polishes
9.2.3.3.1.3. Packaging
9.2.3.3.1.4. Food
9.2.3.3.1.5. Tires & Rubber
9.2.3.3.1.6. Cosmetics & Personal Care
9.2.3.3.1.7. Hot-melt Adhesives
9.2.3.3.1.8. Others
10.
10.1.
10.1.1.
10.1.1.1. South Korea
10.1.1.1.1. By Application (Volume/Value)
10.1.1.1.1.1. Candles
10.1.1.1.1.2. Coatings & Polishes
10.1.1.1.1.3. Packaging
10.1.1.1.1.4. Food
10.1.1.1.1.5. Tires & Rubber
10.1.1.1.1.6. Cosmetics & Personal Care
10.1.1.1.1.7. Hot-melt Adhesives
10.1.1.1.1.8. Others
10.1.1.2. Vietnam
10.1.1.2.1. By Application (Volume/Value)
10.1.1.2.1.1. Candles
10.1.1.2.1.2. Coatings & Polishes
10.1.1.2.1.3. Packaging
10.1.1.2.1.4. Food
10.1.1.2.1.5. Tires & Rubber
10.1.1.2.1.6. Cosmetics & Personal Care
10.1.1.2.1.7. Hot-melt Adhesives
10.1.1.2.1.8. Others
10.1.1.3. Thailand
10.1.1.3.1. By Application (Volume/Value)
10.1.1.3.1.1. Candles
10.1.1.3.1.2. Coatings & Polishes
10.1.1.3.1.3. Packaging
10.1.1.3.1.4. Food
10.1.1.3.1.5. Tires & Rubber
10.1.1.3.1.6. Cosmetics & Personal Care
10.1.1.3.1.7. Hot-melt Adhesives
10.1.1.3.1.8. Others
10.1.1.4. Rest of Asia Pacific
10.1.1.4.1. By Application (Volume/Value)
10.1.1.4.1.1. Candles
10.1.1.4.1.2. Coatings & Polishes
10.1.1.4.1.3. Packaging
10.1.1.4.1.4. Food
10.1.1.4.1.5. Tires & Rubber
10.1.1.4.1.6. Cosmetics & Personal Care
10.1.1.4.1.7. Hot-melt Adhesives
10.1.1.4.1.8. Others
11. Latin America Industrial Wax Market Analysis, Insights and Forecast, 2016-2027
11.1. Key Findings / Summary
11.2. Market Size Estimates and Forecast
11.2.1. By Type (Volume/Value)
11.2.1.1. Fossil Based Wax
11.2.1.2. Synthetic Wax
11.2.1.3. Bio-based Wax
11.2.2. By Application (Volume/Value)
11.2.2.1. Candles
11.2.2.2. Coatings & Polishes
11.2.2.3. Packaging
11.2.2.4. Food
11.2.2.5. Tires & Rubber
11.2.2.6. Cosmetics & Personal Care
11.2.2.7. Hot-melt Adhesives
11.2.2.8. Others
11.2.3. By Country (Volume/Value)
11.2.3.1. Brazil
11.2.3.1.1. By Application (Volume/Value)
11.2.3.1.1.1. Candles
11.2.3.1.1.2. Coatings & Polishes
11.2.3.1.1.3. Packaging
11.2.3.1.1.4. Food
11.2.3.1.1.5. Tires & Rubber
11.2.3.1.1.6. Cosmetics & Personal Care
11.2.3.1.1.7. Hot-melt Adhesives
11.2.3.1.1.8. Others
11.2.3.2. Argentina
11.2.3.2.1. By Application (Volume/Value)
11.2.3.2.1.1. Candles
11.2.3.2.1.2. Coatings & Polishes
11.2.3.2.1.3. Packaging
11.2.3.2.1.4. Food
11.2.3.2.1.5. Tires & Rubber
11.2.3.2.1.6. Cosmetics & Personal Care
11.2.3.2.1.7. Hot-melt Adhesives
11.2.3.2.1.8. Others
11.2.3.3. Rest of Latin America
11.2.3.3.1. By Application (Volume/Value)
11.2.3.3.1.1. Candles
11.2.3.3.1.2. Coatings & Polishes
11.2.3.3.1.3. Packaging
11.2.3.3.1.4. Food
11.2.3.3.1.5. Tires & Rubber
11.2.3.3.1.6. Cosmetics & Personal Care
11.2.3.3.1.7. Hot-melt Adhesives
11.2.3.3.1.8. Others
12. Middle East & Africa Industrial Wax Market Analysis, Insights and Forecast, 2016-2027
12.1. Key Findings / Summary
12.2. Market Size Estimates and Forecast
12.2.1. By Type (Volume/Value)
12.2.1.1. Fossil Based Wax
12.2.1.2. Synthetic Wax
12.2.1.3. Bio-based Wax
12.2.2. By Application (Volume/Value)
12.2.2.1. Candles
12.2.2.2. Coatings & Polishes
12.2.2.3. Packaging
12.2.2.4. Food
12.2.2.5. Tires & Rubber
12.2.2.6. Cosmetics & Personal Care
12.2.2.7. Hot-melt Adhesives
12.2.2.8. Others
12.2.3. By Country (Volume/Value)
12.2.3.1. Saudi Arabia
12.2.3.1.1. By Application (Volume/Value)
12.2.3.1.1.1. Candles
12.2.3.1.1.2. Coatings & Polishes
12.2.3.1.1.3. Packaging
12.2.3.1.1.4. Food
12.2.3.1.1.5. Tires & Rubber
12.2.3.1.1.6. Cosmetics & Personal Care
12.2.3.1.1.7. Hot-melt Adhesives
12.2.3.1.1.8. Others
12.2.3.2. Egypt
12.2.3.2.1. By Application (Volume/Value)
12.2.3.2.1.1. Candles
12.2.3.2.1.2. Coatings & Polishes
12.2.3.2.1.3. Packaging
12.2.3.2.1.4. Food
12.2.3.2.1.5. Tires & Rubber
12.2.3.2.1.6. Cosmetics & Personal Care
12.2.3.2.1.7. Hot-melt Adhesives
12.2.3.2.1.8. Others
12.2.3.3. Rest of Middle East & Africa
12.2.3.3.1. By Application (Volume/Value)
12.2.3.3.1.1. Candles
12.2.3.3.1.2. Coatings & Polishes
12.2.3.3.1.3. Packaging
12.2.3.3.1.4. Food
12.2.3.3.1.5. Tires & Rubber
12.2.3.3.1.6. Cosmetics & Personal Care
12.2.3.3.1.7. Hot-melt Adhesives
12.2.3.3.1.8. Others
13. Competitive Matrix
13.1. Business Strategies Adopted by Leading Players
13.2. Global Industrial Wax Market Revenue Share/Ranking Analysis, By Key Manufacturer
14. Company Profiles
14.1.
14.1.1. Sinopec (Beijing, China)
14.1.1.1. Overview
14.1.1.2. Description
14.1.1.3. Product Portfolio
14.1.1.4. Financials (Data as available in public domain and/or on paid databases)
14.1.1.5. Recent Developments
14.1.2. Exxon Mobil
14.1.2.1. Overview
14.1.2.2. Description
14.1.2.3. Product Portfolio
14.1.2.4. Financials (Data as available in public domain and/or on paid databases)
14.1.2.5. Recent Developments
14.1.3. Oil Co. Lukoil PJSC
14.1.3.1. Overview
14.1.3.2. Description
14.1.3.3. Product Portfolio
14.1.3.4. Financials (Data as available in public domain and/or on paid databases)
14.1.3.5. Recent Developments
14.1.4. Sasol
14.1.4.1. Overview
14.1.4.2. Description
14.1.4.3. Product Portfolio
14.1.4.4. Financials (Data as available in public domain and/or on paid databases)
14.1.4.5. Recent Developments
14.1.5. Royal Dutch Shell
14.1.5.1. Overview
14.1.5.2. Description
14.1.5.3. Product Portfolio
14.1.5.4. Financials (Data as available in public domain and/or on paid databases)
14.1.5.5. Recent Developments
14.1.6. Numaligarh Refinery
14.1.6.1. Overview
14.1.6.2. Description
14.1.6.3. Product Portfolio
14.1.6.4. Financials (Data as available in public domain and/or on paid databases)
14.1.6.5. Recent Developments
14.1.7. The Blayson Group
14.1.7.1. Overview
14.1.7.2. Description
14.1.7.3. Product Portfolio
14.1.7.4. Financials (Data as available in public domain and/or on paid databases)
14.1.7.5. Recent Developments
14.1.8. International Group
14.1.8.1. Overview
14.1.8.2. Description
14.1.8.3. Product Portfolio
14.1.8.4. Financials (Data as available in public domain and/or on paid databases)
14.1.8.5. Recent Developments
14.1.9. HCI Wax
14.1.9.1. Overview
14.1.9.2. Description
14.1.9.3. Product Portfolio
14.1.9.4. Financials (Data as available in public domain and/or on paid databases)
14.1.9.5. Recent Developments
14.1.10. Petrobras
14.1.10.1. Overview
14.1.10.2. Description
14.1.10.3. Product Portfolio
14.1.10.4. Financials (Data as available in public domain and/or on paid databases)
14.1.10.5. Recent Developments
14.1.11. Calumet Specialty Products Partners L.P.
14.1.11.1. Overview
14.1.11.2. Description
14.1.11.3. Product Portfolio
14.1.11.4. Financials (Data as available in public domain and/or on paid databases)
14.1.11.5. Recent Developments
14.1.12. Gandhar Oil
14.1.12.1. Overview
14.1.12.2. Description
14.1.12.3. Product Portfolio
14.1.12.4. Financials (Data as available in public domain and/or on paid databases)
14.1.12.5. Recent Developments
14.1.13. Other Key Players
14.1.13.1. Overview
14.1.13.2. Description
14.1.13.3. Product Portfolio
14.1.13.4. Financials (Data as available in public domain and/or on paid databases)
14.1.13.5. Recent Developments
15. Appendix
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