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    Industrial Wax Market Report

    Industrial Wax Market Report
    Report code - SRAM482 Delivery - 2 Weeks
    Industrial Wax Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028
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    Market Insights

    Industrial Wax Market is likely to grow form USD 7.91 billion in 2021 to USD 10.54 billion by 2028 at an impressive CAGR of 4.08% during the forecast period.


    What is industrial wax?

    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.

    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, 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.


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    Segments' Analysis

    By Product Type

    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 sun blocks. 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

    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 attractive segment during the forecast period as the demand for moisture-resistant material for packaging is increasing globally.

    By Region

    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.


    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.

    Industrial Wax Market Research Report - Features

    Market Segmentation


    Regions Covered


    Countries/Sub-Regions Covered


    No. of Figures & Tables


    Company Profiles



    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)

    Key Players

    Some of the major industrial wax manufacturers are-

    • Dow Corning Ltd.
    • Akzo Nobel NV
    • BASF SE
    • Royal Dutch Shell
    • Sinopec
    • Petroleo Brasileiro
    • Hexion Inc.
    • Honeywell International Inc.
    • Arch Chemicals PVT LTD
    • Momentive Performance Materials.

    Research Methodology

    This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    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

    Frequently Asked Questions (FAQs)

    The industrial wax market is expected to witness an impressive growth of 4.08% CAGR during 2022-2028.

    The industrial wax market size is expected to reach USD 10.54 billion in 2028.

    Asia-pacific is expected to be the largest market during the next five years.

    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.

    Fossil-based wax is expected to be the largest segment in the market in the coming years.

    The packaging segment is expected to be the attractive segment in the market during the next five years.


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