Industrial Wax Market by Type (Fossil Based, Synthetic Based, Bio-Based), Application (Candles, Packaging, Coatings & Polishing, Hot Melt Adhesive, Tires & Rubber, Cosmetics & Personal Care, Food) -Global Forecast to 2026

The global industrial wax market was USD 7.81 Billion in 2015, and is projected to reach USD 10.07 Billion by 2021, at a CAGR of 4.5% from 2016 to 2021 and USD 12.84 Billion by 2026, at a CAGR of 4.7%, during 2016 to 2026.  With the expected stabilization of global oil prices by 2020-2021, advances in the manufacture of synthetic wax and the increased use of wax in corrugated packaging, it is estimated that industrial wax would depict slightly higher growth rates in the long term forecast.

The objectives of the report are as follows:

• To define and segment the global industrial wax market
• To provide detailed information regarding the major factors influencing the growth of the global market of industrial wax (drivers, restraints, opportunities, and challenges)
• To analyze and forecast the market size of industrial wax, in terms of volume and value
• To analyze the market segmentation and project the market size, in terms of volume and value, and for key regions such as North America, Europe, Asia-Pacific, South America, and Middle East & Africa
• To analyze the competitive developments such as new product launches, capacity expansions, mergers & acquisitions, and partnerships & agreements, in the global industrial wax market
• To strategically profile the key players in the global industrial wax market

The base year considered for the study is 2015, the mid-term forecast period is from 2016 to 2021, and the long-term forecast period is from 2016 to 2026.

Research Methodology

Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global industrial wax market and to estimate the sizes of various other dependent submarkets in the overall industrial wax market. The research study involved the extensive use of secondary sources, directories, and databases such as Hoovers, Bloomberg, Chemical Weekly, Factiva, and other government and private websites to identify and collect information useful for the technical, market-oriented, and commercial study of the global industrial wax market.

To know about the assumptions considered for the study, download the pdf brochure

The value chain of the industrial wax market starts with the sourcing of the basic raw materials, manufacturing and supplying to intermediate product manufacturers, and ends with use in the various end-use applications. Slack wax is the main raw material for the production of petroleum wax. Natural gas acts as the main raw material for the gas to liquids (GTL) process. Either the crude oil refiners themselves produce wax or the slack wax is sold to wax manufacturers. Small wax manufacturers buy slack wax from refiners and refine it to produce paraffin wax and other products. Some of the key players in the market are, Sinopec Corp. (China), Royal Dutch Shell Plc. (The Netherlands), Petroleo Brasileiro S.A. (Petrobras) (Brazil), ExxonMobil Corp. (U.S.), Sasol Limited. (South Africa), and OJSC Lukoil (Russia).

Key Target Audience:

• Raw material suppliers
• Industrial wax manufacturers 
• Traders, distributors, and industrial wax suppliers
• Government and regional agencies
• Research organizations
• Investment research firms

Scope of the Report:

This research report categorizes the global industrial wax market on the basis of application, type and region.

On the basis of Application:

• Candles
• Packaging
• Coatings & Polishing
• Hot Melt Adhesive
• Tires & Rubber
• Cosmetics & Personal Care
• Food
• Others

On the basis of Type:

• Fossil Based
• Synthetic Based
• Bio Based

On the basis of region:

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America

The market is further analyzed for the key countries in each of these regions.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Geographical Analysis:

• Country-level analysis of the global industrial wax market

Company Information:

• Detailed analysis and profiles of additional market players

Product Analysis

• Product Matrix, which gives a detailed comparison of the product portfolio of each company

Growing demand for sustainable and innovative wax solutions to drive the global industrial wax demand close to USD 13 billion by 2026

Waxes are a diverse class of organic compounds that are lipophilic, malleable solids at ambient temperatures. They include higher alkanes and lipids, typically with melting points above about 40°C, giving low-viscous liquids. Various types of natural waxes are produced by plants and animals and occur in petroleum.

The shrinking supply of paraffin wax, uncertain prices of synthetic and bio-based wax, are the major restraints for the market. However, industrial wax is preferred over the others, due to its better malleability, moisture control, lubrication, and other properties.

The local suppliers are expected to take the advantage of situation supplying the wax at competitive prices as alternatives of paraffin wax penetrate the market to fill the demand supply gap. The alternatives such as natural wax, GTL wax, and other mineral waxes, are expected to counter the increasing prices of petroleum waxes.

The global industrial wax market size is projected to reach USD 12.84 Billion by 2026, largely due to advances in the manufacture of synthetic wax, extensive use of bio-based wax in new applications such as sustainable packaging and construction solutions, coatings, and adhesives.

Ongoing new product developments by leading companies for new applications of wax are likely to propel further growth of the industrial wax the long-term forecast.

Market Dynamics

Market Dynamics

• Rising demand from applications such as candle, tire & rubber, coating & adhesives, and polishes
• Increased usage of synthetic waxes in coatings, inks, polishes, emulsions, and other specialized applications
• Innovations for sustainable solutions in the wax market

Restraints

• Shrinking supply of paraffin wax
• Increasing prices of synthetic and bio-based waxes

Opportunities

• Growing demand for unconventional waxes such as bee wax, vegetable wax
• Reduced production and growing North American imports of industrial wax
• APAC: The fastest growing wax market in the world

Challenges

• To address impact of waste on environment
• Declining use of fossil based wax in packaging industry in North America
• The shift in food packaging industry from paraffin wax towards the natural waxes

Critical Questions:

• The industrial wax industry is going through demand-supply gap, when will this scenario ease out?
• Are the eco-friendly wax solutions the ultimate way forward?
• How are the industry players addressing this challenge?

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 By Region
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Opportunities in the Industrial Wax Market

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Type
           5.2.2 By Application
           5.2.3 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Rising Demand From Applications Such as Candle, Tire& Rubber, and Coating & Polishes,
                    5.3.1.2 Increasing Acceptance of Synthetic Waxes
                    5.3.1.3 Technology Changes in the Wax Market
                    5.3.1.4 Growing Population and Increasing Per Capita Income in the Emerging Countries Such as India, China and Other Asian Countries
           5.3.2 Restraints
                    5.3.2.1 Shrinking Supply of Paraffin Wax
                    5.3.2.2 Increasing Prices of Synthetic and Bio-Based Waxes
           5.3.3 Opportunities
                    5.3.3.1 Growing Demand for Unconventional Waxes
                    5.3.3.2 Growing North American Imports of Industrial Wax
           5.3.4 Challenges
                    5.3.4.1 to Meet the Growing Demand for Paraffin Wax
                    5.3.4.2 Declining Use of Fossil Based Wax in Packaging Industry in North America

6 Industry Trends (Page No. - 43)
    6.1 Introduction
           6.1.1 North America:
                    6.1.1.1 Declining Use in Packaging Application and Rise in Demand in Candle Making
                    6.1.1.2 Fall in Production and Increase in Import of Wax in North America
           6.1.2 Europe:
                    6.1.2.1 The Shift of Food Packaging Industry From Paraffin Wax Towards the Natural Waxes
                    6.1.2.2 Rise in Demand for Paraffin Wax in Candle Making Increasing the Imports in Europe
           6.1.3 Asia-Pacific:
                    6.1.3.1 The Fastest Growing Wax Market in the World
                    6.1.3.2 Increasing Production Capacities in the Region
    6.2 Value Chain Analysis
           6.2.1 Raw Material Suppliers
           6.2.2 Manufacturers
           6.2.3 Distributors/Resellers
           6.2.4 End-Users
    6.3 Porter’s Five Force Analysis
           6.3.1 Bargaining Power of Suppliers
                    6.3.1.1 Fluctuation in Crude Oil Prices:
                    6.3.1.2 Large Number of Raw Material Suppliers:
           6.3.2 Threat of New Entrants
                    6.3.2.1 Highly Consolidated Market:
                    6.3.2.2 Small Players Restricted to Local Markets:
           6.3.3 Threat of Substitutes
                    6.3.3.1 Limited Number of Substitutes:
                    6.3.3.2 Product Differentiation is Low:
           6.3.4 Bargaining Power of Buyers
                    6.3.4.1 Brand Sensitive Market:
                    6.3.4.2 Sufficient Number of Suppliers:
           6.3.5 Intensity of Rivalry
                    6.3.5.1 Market Dominated By A Few Well-Established Players:
    6.4 Patent Analysis
    6.5 Macro Economic Indicators
           6.5.1 Gdp Growth Rate Forecasts of Major Global Economies
           6.5.2 Candle Market Analysis
           6.5.3 Hot Melt Adhesives Market Analysis
           6.5.4 Consumer Packaging Market Analysis
           6.5.5 Rubber Market Analysis

7 Industrial Wax Market, By Type (Page No. - 58)
    7.1 Introduction
    7.2 Fossil Based Waxes
           7.2.1 Mineral Waxes
                    7.2.1.1 Montan Wax (Lignite/Brown Coal)
                    7.2.1.2 Ozokerite
           7.2.2 Petroleum Waxes
                    7.2.2.1 Paraffin Wax (Long Chain Alkanes )
                    7.2.2.2 Microcrystalline Wax
    7.3 Synthetic Based Wax
           7.3.1 Poly-Olefin Waxes/ Alpha-Olefin Waxes
           7.3.2 Fischer-Topsch Waxes (GTL, CTL, BTL)
    7.4 Bio-Based Waxes
           7.4.1 Vegetable Waxes (Candelilla Wax, Carnauba Wax)
           7.4.2 Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)

8 Industrial Wax Market, By Application (Page No. - 68)
    8.1 Introduction
    8.2 Candles
    8.3 Packaging
    8.4 Coatings & Polishes
    8.5 Hot Melt Adhesives
    8.6 Tires & Rubber
    8.7 Cosmetics & Personal Care
    8.8 Food
    8.9 Others (Agriculture, Printing Inks)

9 Industrial Wax Market, By Region (Page No. - 83)
    9.1 Introduction
    9.2 North America
           9.2.1 U.S.
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany:
           9.3.2 France:
           9.3.3 Netherlands
           9.3.4 Russia
           9.3.5 U.K.
           9.3.6 Poland:
           9.3.7 Rest of Europe
    9.4 Asia-Pacific
           9.4.1 China
           9.4.2 India
           9.4.3 Japan
           9.4.4 South Korea
           9.4.5 Indonesia
           9.4.6 Thailand:
           9.4.7 Vietnam
           9.4.8 Rest of Asia-Pacific
    9.5 Middle East & Africa
           9.5.1 Saudi Arabia
           9.5.2 Egypt
           9.5.3 Rest of Middle East & Africa
    9.6 South America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Rest of South America

10 Competitive Landscape (Page No. - 154)
     10.1 Overview
     10.2 Competitive Situations and Trends
     10.3 Expansions: Most Popular Growth Strategy Between 2015 and 2016
             10.3.1 New Product Launches
             10.3.2 Expansions
             10.3.3 Contracts & Agreements
             10.3.4 Joint-Ventures
     10.4 Market Share Analysis
             10.4.1 Sinopec Ltd.
             10.4.2 Exxon Mobil Corp
             10.4.3 The Royal Dutch Shell
             10.4.4 Sasol Wax Ltd
             10.4.5 Oil Co. Lukoil PJSC

11 Company Profiles (Page No. - 160)
     11.1 Sinopec Corp.
             11.1.1 Business Overview
             11.1.2 Products & Services
             11.1.3 Recent Developments
             11.1.4 SWOT Analysis
             11.1.5 MnM View
     11.2 Royal Dutch Shell PLC
             11.2.1 Business Overview
             11.2.2 Products & Services
             11.2.3 SWOT Analysis
             11.2.4 MnM View
     11.3 Petroleo Brasileiro S.A. (Petrobras)
             11.3.1 Business Overview
             11.3.2 Products & Services
             11.3.3 SWOT Analysis
             11.3.4 MnM View
     11.4 Exxon Mobil Corp
             11.4.1 Business Overview
             11.4.2 Products Offered
             11.4.3 MnM View
     11.5 Sasol Ltd.
             11.5.1 Business Overview
             11.5.2 Products Offered
             11.5.3 Key Developments
             11.5.4 MnM View
     11.6 Oil Co. Lukoil PJSC
             11.6.1 Business Overview
             11.6.2 Products Offered
             11.6.3 MnM View
     11.7 Numaligarh Refinery Ltd
             11.7.1 Business Overview
             11.7.2 Products Offered
             11.7.3 Key Developments
     11.8 HCI
             11.8.1 Business Overview
             11.8.2 Products Offered
     11.9 The Blayson Group Ltd
             11.9.1 Business Overview
             11.9.2 Products Offered
     11.10 International Group Inc.
             11.10.1 Business Overview
             11.10.2 Products Offered

12 Appendix (Page No. - 178)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details

List of Tables (166 Tables)

Table 1 Market Segmentation, By Type
Table 2 Market Segmentation, By Application
Table 3 Trends and Forecast for Gdp Growth Rates From 2016 to 2020
Table 4 Industrial Wax Market By Type, 2014-2026 (Kilotons)
Table 5 Industrial Wax Market By Type, 2014-2026 (USD Million)
Table 6 Fossil Based Industrial Wax Market By Region, 2014-2026 (Kilotons)
Table 7 Fossil Based Industrial Wax Market By Region, 2014-2026 (USD Million)
Table 8 Synthetic Based Industrial Wax Market By Region, 2014-2026 (Kilotons)
Table 9 Synthetic Based Industrial Wax Market By Region, 2014-2026 (USD Million)
Table 10 Bio-Based Industrial Wax Market By Region, 2014-2026 (Kilotons)
Table 11 Bio- Based Industrial Wax Market By Region, 2014-2026 (USD Million)
Table 12 Application of Beeswax for Different Product Categories:
Table 13 Industrial Wax Market Size, By Application, 2014–2026 (Kilotons)
Table 14 Industrial Wax Market Size, By Application, 2014–2021 (USD Million)
Table 15 Industrial Wax Market Size in Candles, By Region, 2014–2026 (Kilotons)Ss
Table 16 Industrial Wax Market Size in Candles, By Region, 2014–2026 (USD Million)
Table 17 Industrial Wax Market Size in Packaging Application, By Region, 2014–2026 (Kilotons)
Table 18 Industrial Wax Market Size in Packaging Application, By Region, 2014–2026 (USD Million)
Table 19 Industrial Wax Market Size in Coatings & Polishes Application, By Region, 2014–2026 (Kilotons)
Table 20 Industrial Wax Market Size in Coatings & Polishes Application, By Region, 2014–2026 (USD Million)
Table 21 Industrial Wax Market Size in Hot Melt Adhesives Application, By Region, 2014–2026 (Kilotons)
Table 22 Industrial Wax Market Size in Hot Melt Adhesives Application, By Region, 2014–2026 (USD Million)
Table 23 Industrial Wax Market Size in Tires & Rubber Application, By Region, 2014–2026 (Kilotons)
Table 24 Industrial Wax Market Size in Tires & Rubber Application, By Region, 2014–2026 (USD Million)
Table 25 Industrial Wax Market Size in Cosmetics & Personal Application, By Region, 2014–2026 (Kilotons)
Table 26 Industrial Wax Market Size in Cosmetics & Personal Application, By Region, 2014–2026 (USD Million)
Table 27 Industrial Wax Market Size in Food Application, By Region, 2014–2026 (Kilotons)
Table 28 Industrial Wax Market Size in Food Application, By Region, 2014–2026 (USD Million)
Table 29 Industrial Wax Market Size in Other Applications, By Region, 2014–2026 (Kilotons)
Table 30 Industrial Wax Market Size in Other Applications, By Region, 2014–2026(USD Million)
Table 31 Industrial Wax Market Size, By Region, 2014–2026 (Kiloton)
Table 32 Industrial Wax Market Size, By Region, 2014–2026 (USD Million)
Table 33 Industrial Wax Market Size, By Application, 2014–2026 (Kiloton)
Table 34 Industrial Wax Market Size, By Application, 2014–2026 (USD Million)
Table 35 Industrial Wax Market Size, By Type, 2014–2026 (Kiloton)
Table 36 Industrial Wax Market Size, By Type,2014–2026 (USD Million)
Table 37 North America: Industrial Wax Market Size, By Country, 2014–2026, (Kilotons)
Table 38 North America: Industrial Wax Market Size, By Country, 2014–2026, (USD Million)
Table 39 North America: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 40 North America: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 41 North America: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 42 North America: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 43 U.S.: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 44 U.S.: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 45 U.S.: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 46 U.S.: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 47 Canada: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 48 Canada: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 49 Canada: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 50 Canada: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 51 Mexico: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 52 Mexico: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 53 Mexico: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 54 Mexico: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 55 Europe: Industrial Wax Market Size, By Country, 2014–2026, (Kilotons)
Table 56 Europe: Industrial Wax Market Size, By Country, 2014–2026, (USD Million)
Table 57 Europe: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 58 Europe: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 59 Europe: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 60 Europe: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 61 Germany: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 62 Germany: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 63 Germany: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 64 Germany: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 65 France: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 66 France: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 67 France: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 68 France: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 69 Netherlands: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 70 Netherlands: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 71 Netherlands: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 72 Netherlands: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 73 Russia: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 74 Russia: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 75 Russia: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 76 Russia: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 77 U.K.: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 78 U.K: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 79 U.K.: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 80 U.K.: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 81 Poland: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 82 Poland: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 83 Poland: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 84 Poland: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 85 Rest of Europe: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 86 Rest of Europe: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 87 Rest of Europe: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 88 Rest of Europe: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 89 Asia-Pacific: Industrial Wax Market Size, By Country, 2014–2026, (Kilotons)
Table 90 Asia-Pacific: Industrial Wax Market Size, By Country, 2014–2026, (USD Million)
Table 91 Asia-Pacific: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 92 Asia-Pacific: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 93 Asia-Pacific: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 94 Asia-Pacific: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 95 China: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 96 China: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 97 China: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 98 China: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 99 India: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 100 India: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 101 India: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 102 India: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 103 Japan: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 104 Japan: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 105 Japan: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 106 Japan: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 107 South Korea: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 108 South Korea: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 109 South Korea: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 110 South Korea: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 111 Indonesia: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 112 Indonesia: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 113 Indonesia: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 114 Indonesia: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 115 Thailand: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 116 Thailand: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 117 Thailand: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 118 Thailand: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 119 Vietnam: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 120 Vietnam: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 121 Vietnam: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 122 Vietnam: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 123 Rest of Asia-Pacific: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 124 Rest of Asia-Pacific: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 125 Rest of Asia-Pacific: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 126 Rest of Asia-Pacific: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 127 Middle East & Africa: Industrial Wax Market Size, By Country, 2014–2026, (Kilotons)
Table 128 Middle East & Africa: Industrial Wax Market Size, By Country, 2014–2026, (USD Million)
Table 129 Middle East & Africa: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 130 Middle East & Africa: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 131 Middle East & Africa: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 132 Middle East & Africa: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 133 Saudi Arabia: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 134 Saudi Arabia: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 135 Saudi Arabia: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 136 Saudi Arabia: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 137 Egypt: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 138 Egypt: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 139 Egypt: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 140 Egypt: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 141 Rest of Middle East & Africa: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 142 Rest of Middle East & Africa: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 143 Rest of Middle East & Africa: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 144 Rest of Middle East & Africa: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 145 South America: Industrial Wax Market Size, By Country, 2014–2026, (Kilotons)
Table 146 South America: Industrial Wax Market Size, By Country, 2014–2026, (USD Million)
Table 147 South America: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 148 South America: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 149 South America: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 150 South America: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 151 Brazil: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 152 Brazil: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 153 Brazil: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 154 Brazil: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 155 Argentina: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 156 Argentina: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 157 Argentina: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 158 Argentina: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 159 Rest of South America: Industrial Wax Market Size, By Application, 2014–2026, (Kilotons)
Table 160 Rest of South America: Industrial Wax Market Size, By Application, 2014–2026, (USD Million)
Table 161 Rest of South America: Industrial Wax Market Size, By Type, 2014–2026, (Kilotons)
Table 162 Rest of South America: Industrial Wax Market Size, By Type, 2014–2026, (USD Million)
Table 163 New Product Launches, 2015–2016
Table 164 Expansions, 2015–2016
Table 165 Contracts & Agreements, 2015–2016
Table 166 Joint Venture, 2015–2016

List of Figures (66 Figures)

Figure 1 Market Segmentation: Industrial Wax Market
Figure 2 Industrial Wax Market: Research Design
Figure 3 Breakdown of Primary Interviews
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 Market Size Estimation: Top-Down Approach
Figure 6 Data Triangulation: Industrial Wax Market
Figure 7 Fossil Based Wax Market is Expected to Remain Dominent Type of Industrial Wax Till 2021
Figure 8 Candle Application is Expected to Lead the Industrial Wax Market, During 2016-2021
Figure 9 Growing Net Imports in North America Due to Lack of Local Supply and Growing Demand
Figure 10 Asia-Pacific to Lead the Growth in the Industrial Wax Market
Figure 11 Asia-Pacific and North America to Drive the Global Demand for Industrial Wax
Figure 12 Asia-Pacific Industrial Wax Market 2015
Figure 13 Asia Pacific Expected to Led the Industrial Wax Market During Forcast Period, (Top Five Fastest Growing Countries)
Figure 14 Asia-Pacific is Expected to Be the Fastest Growing Market for Candle Application, in Terms of Value
Figure 15 Industrial Wax Market: By Type
Figure 16 Industrial Wax Market: By Application
Figure 17 Industrial Wax Market Segmentation, By Region
Figure 18 Industrial Wax: Market Dynamics
Figure 19 Value Chain Analysis
Figure 20 Porter’s Five Forces Analysis
Figure 21 Japan Dominated the Global Industrial Wax Patent Arena Between 2013 and 2015
Figure 22 Year Wise Patent Publishing Between 2013 and 2015 in Europe, U.S. and Japan for Paraffin Wax
Figure 23 Year Wise Patent Publishing Between 2013 and 2015 in Europe, U.S. and Japan for Vegetable Wax
Figure 24 Year Wise Patent Publishing Between 2013 and 2015 in Europe, U.S. and Japan for Synthetic Wax
Figure 25 Candle Market in the European Union
Figure 26 U.S. Candle Imports 2010-2014
Figure 27 Global Hot Melt Adhesives Growth Rate Versus Industrial Wax Growth Rate (CAGR 2016-2021)
Figure 28 Consumer Packaging Demand (2011-2017)
Figure 29 Consumer Packaging Consumption in Asia-Pacific (2011-2017)
Figure 30 Natural Rubber Production/Demand-2015
Figure 31 Synthetic Rubber Production/Demand-2015
Figure 32 Fossil Based Type Segment Accounted for A Largest Share of Global Industrial Wax Market
Figure 33 Fossil Based Waxes to Lead the Industrial Wax Market, 2016-2026 (USD Million)
Figure 34 Asia-Pacific to Lead the Bio Based Wax Market During 2016-2026(USD Million)
Figure 35 North America to Lead the Synthetic Wax Market During 2016-2026 (USD Million)
Figure 36 Europe to Lead the Bio Based Wax Market During 2016-2026 (USD Million)
Figure 37 Industrial Wax Share, By Application, 2015 (USD Million)
Figure 38 North America Expected to Lead Industrial Wax Market in Packaging Application (2016-2026)
Figure 39 North America to Lead Industrial Wax Market in Coatings & Polishes Application(2016-2021)
Figure 40 North America to Lead Industrial Wax Market in Hot Melt Adhesives Application
Figure 41 North America to Lead Industrial Wax Market in Tires & Rubber Application
Figure 42 North America to Lead Industrial Wax Market in Cosmetics & Personal Application
Figure 43 North America to Lead Industrial Wax Market in Food Application
Figure 44 North America Estimated to Lead Industrial Wax Market in Other Applications
Figure 45 Regional Snapshot: Rapid Growth Markets are Emerging as New Hotspots
Figure 46 North America Market Snapshot: the U.S. to Led Industrial Wax Market in North America
Figure 47 U.S. Market Snapshot: 2016 vs 2021
Figure 48 Industrial Wax Market in Europe Snapshot: Increasing Demand From Application Segment to Drive the Market
Figure 49 Industrial Wax Market in Europe Snapshot: Demand Will Be Driven By Increasing Demand From Application
Figure 50 Asia-Pacific Market Snapshot: Country-Wise Market Share of Industrial Wax -2015 (Kiloton)
Figure 51 Companies Adopted Expansions as the Key Growth Strategy Between 2015 and 2016
Figure 52 Market Evaluation Framework: Expansionsfueled Growth Between 2015 and 2016
Figure 53 Market Share of Key Players in the Market:
Figure 54 Sinopec Corp.: Business Overview
Figure 55 SWOT Analysis
Figure 56 Royal Dutch Shell PLC.: Business Overview
Figure 57 SWOT Analysis
Figure 58 Petroleo Brasileiro S.A. (Petrobras): Business Overview
Figure 59 SWOT Analysis
Figure 60 Exxon Mobil Corp.: Company Snapshot
Figure 61 Exxon Mobil Corp.: SWOT Analysis
Figure 62 Sasol Ltd.: Company Snapshot
Figure 63 Sasol Ltd.: SWOT Analysis
Figure 64 Oil Co. Lukoil PJSC.: Company Snapshot
Figure 65 Oil Co. Lukoil PJSC.: SWOT Analysis
Figure 66 Numaligarh Refinery Ltd.: Company Snapshot

The global industrial wax market is projected to reach USD 12.84 Billion by 2026, at a CAGR of 4.7% from 2016 to 2026. Industrial wax has properties such as moldability, viscosity regulation, moisture control and lubrication. These factors drive the global industrial wax market.

Industrial wax products find usage in applications such as, candles, packaging, coatings & polishing, hot melt adhesives, tires & rubber, cosmetics & personal care, food, and others (agriculture, printing inks, chlorinated paraffin, and PVC).

The candles application accounted for the largest share of the overall industrial wax market and is expected to continue to do so throughout the forecast period. Industrial wax is used for the production of candles as it has good calorific value, thus providing fuel for controlled burn.

Companies are carrying out intense research & development activities to innovate and develop new products which can open new avenues of applications. Sinopec Corp, through its subsidiary, Jinan Company, made a new technological breakthrough on paraffin production and successfully produced No. 62 and No. 66 fully refined paraffin wax.

Growth in the candles and packaging applications has increased the demand for industrial wax. The Asia-Pacific region accounts for the largest share of the global industrial wax market and is also the fastest-growing market. China is expected to account for the largest share in the Asia-Pacific region till 2026, with India registering the fastest growth rate for the forecast period. China has prominent industrial wax companies such as Sinopec Corp. and HCl WAX. The U.S. is the largest market for industrial wax in North America.

The shrinking supply of paraffin wax, increasing prices of synthetic and bio-based wax, are the major restraints for the market. However, industrial wax is preferred over the others, due to its better moldability, viscosity regulation, moisture control, lubrication, and other properties.

Companies have adopted the new product developments, expansions, contracts & agreements, and joint-venture strategies, to expand their market shares and distribution networks in the global industrial wax market for the forecast period, 2016 to 2026.

Sinopec Corp.’s overdependence on the Chinese market has adversely affected the financial performance of the company. The fall in crude oil prices, coupled with the devaluation of the Renminbi have resulted in the decline in the financial performance of the company by 30%. However, sales volumes of refined petroleum products (excluding gasoline, diesel, kerosene and chemical feedstock) in 2015 have increased by 5.0% compared to the previous year, indicating the growing demand for these commodities. Increasing activity in R&D by the company is observed by way of the R&D expenditure as well as the investments and the establishment of R&D facilities. This will help the company in catering to the needs of the consumers as well as in improvements in production efficiency and product quality.

Leading wax manufacturers are developing sustainable and innovative solutions for existing and new applications of wax to drive the industry forward

Packaging

Eco-friendly packaging is big trend and very much the need of the hour. Focus is on using non-plastic packaging. One of the viable alternatives is the paper that is used to make recyclable packaging, originates from trees, that are sustainably grown and harvested. Though, Oil based Wax has been used traditionally along with packing paper; it will no longer be sustainable to be used with paper packaging. Therefore, research has been undertaken in recent years using vegetable sources as a viable alternative to synthetic wax.

Clondalkin Flexible Packaging, Rotterdam is one of the companies that is at the forefront of this development, the company has made Ecowax from vegetable sources from high oil content plants such as maize, rapeseed and others, more than 80% of which is renewable, depending on the properties desired from the wax. At no additional cost it offers a higher gloss, superior sealability and easier opening/release properties, leaves little wax build-up on the packaging.

Mining

Containment, storage and waste disposal are critical, time consuming and costly obligations for mining companies using waxes. Being 100% biodegradable GO Wax Lube offers reduced environmental impact in the mining environment. Go Wax Lube offers extended life in the toxic environment as it minimizes build up on the chain leaving no grinding paste and minimal wear. It is solvent, gas free, and non-flammable and therefore secure to use underground.

Leisure & sports

Traditional ski waxes release chemicals into the snow that later trickles into to the water table, affecting the environment.  British based company, Look No Wax has developed a one-time spray application base-coating that eliminates the need for waxing skis and snowboards and is 100% environmentally friendly.

Textile & Leather

Paraffin waxes improve the water repellence of the fabric and when combined with zirconic salt, gives wash resistant impregnation. When added in emulsions paraffin waxes enable small particles to penetrate the leather cavities better (Licker greasing) which is used to produce shoes, luggage, overcoats and for technical functions.
Building & construction

ExxonMobil’s patented DILCHILL™ process, provides enhanced efficiency to conventional solvent dewaxing processes. Their Slack waxes are used as sizing agents in the production of oriented strand boards, a sustainable alternative to plywood as a building material leaving lesser impact on the forests.

There is a long list of such new product developments and unique formulations for a range of other applications such as wine sealing waxes, hot melt adhesives, personal care, coatings, and candles.

Critical questions would be;

• Where will all these developments take the industry in the mid to long term?
• Will the suppliers continue to explore new avenues for wax? 
• What are the adjacencies companies can leverage or explore?
• Is there a threat from substitute products?

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