The Industrial Wax Market is Segmented by Application Type (Packaging, Tires & Rubber, Candles, Holt-melt adhesives, Cosmetics & Personal Care, Food, Coatings & Polishes, and Others), by Product Type (Synthetic-based wax, Bio-based wax, and Fossil-based wax), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, the UK, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [the Middle East, Latin America, and Others]).
The Industrial Wax Market is Segmented by Application Type (Packaging, Tires & Rubber, Candles, Holt-melt adhesives, Cosmetics & Personal Care, Food, Coatings & Polishes, and Others), by Product Type (Synthetic-based wax, Bio-based wax, and Fossil-based wax), and by Region ...
"Industrial Wax Market is likely to grow from USD 7.91 billion in 2021 to USD 10.54 billion by 2028 at an impressive CAGR of 4.08% during the forecast period".
Industrial wax is an organic substance. It is used to manufacture candles, packaging, coatings & polishing, hot-melt adhesive, tire & rubber, cosmetics & personal care, and food items. There are different types of industrial wax used such as fossil-based, synthetic-based, and bio-based. Bio-based waxes are environmentally friendly and can be recycled. They do not emit carbon dioxide due to which they can be used as fire logs.
Industrial Wax Market Report Overview
Market Size in 2028
USD 10.54 Billion
Market Size in 2021
USD 7.91 Billion
CAGR (2022-2028)
4.08%
Base Year of Study
2021
Trend Period
2016-2020
Forecast Period
2022-2028
Market Drivers
Robust demand for chemicals and petroleum-based products has been the key factor immensely contributing to the growth of the industrial wax market. In addition, the growing population, technological advancements in the wax market, and increasing per capita income in emerging countries such as China and India are underpinning the growth of the industrial wax market.
Segment Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Application-Type Analysis
Packaging, Tires & Rubber, Candles, Holt-melt adhesives, Cosmetics & Personal Care, Food, Coatings & Polishes, and Others
Fossil-based wax is likely to be the largest segment of the industrial wax market during the forecast period.
Product-Type Analysis
Synthetic-based wax, Bio-based wax, and Fossil-based wax
Packaging segment is likely to be the attractive segment during the forecast period.
Regional Analysis
North America, Europe, Asia-Pacific, and Rest of the World
Asia-Pacific is estimated to be the largest industrial wax market during the forecast period.
By Product Type
"Fossil-based wax is likely to be the largest segment of the industrial wax market during the forecast period"
Based on the product type, the market is segmented as synthetic-based wax, bio-based wax, and fossil-based wax. Fossil-based wax is likely to be the largest segment of the industrial wax market during the forecast period, owing to it being widely used in the cosmetic industry for manufacturing products such as mascara, moisturizing creams, lipstick, and sunblocks. Besides, it is also used for making candelas, packaging, and coatings of commercial products, which in turn, is driving the growth of the segment.
By Application Type
"Packaging segment is likely to be the attractive segment during the forecast period"
Based on the application type, the market is segmented as packaging, tires & rubber, candles, holt-melt adhesives, cosmetics & personal care, food, coatings & polishes, and others. The packaging segment is likely to be the most attractive segment during the forecast period as the demand for moisture-resistant material for packaging is increasing globally.
Regional Analysis
"Asia-Pacific is estimated to be the largest industrial wax market during the forecast period"
In terms of regions, Asia-Pacific is estimated to be the largest industrial wax market during the forecast period, with China, Japan, and India, being the major countries with lucrative growth opportunities. The region is known to be the largest consumer of industrial wax, owing to the growth in the production and consumption of candles, packaging products, and coatings.
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Key Players
The following are the key players in the Industrial Wax Market (arranged alphabetically)
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
in-depth Analysis of the Industrial Wax Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
What are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The industrial wax market is segmented into the following categories.
By Application Type:
Packaging
Tires & Rubber
Candles
Holt-melt Adhesives
Cosmetics & Personal Care
Food
Coatings & Polishes
Others
By Product Type:
Synthetic-based wax
(Product Type Analysis: Poly-Olefin Waxes/ Alpha-Olefin Waxes)
Bio-based wax
(Product Type Analysis: Vegetable Waxes (Candelilla Wax, Carnauba Wax) and Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin))
Fossil-based wax
(Product Type Analysis: Mineral Waxes and Petroleum Waxes)
By Region:
North America (Country Analysis: the USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Russia, Italy, and Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Market Segmentation
Current market segmentation of any one of the product types by application type.
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com
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Some of the factors driving the growth of market are growing population, technological advancements in the wax market, and increasing per capita income in emerging countries such as China and India.
