Industrial Wax Market

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Industrial Wax Market by Type (Fossil based, Synthetic based, Bio based), Application (Candles, Packaging, Coatings & Polishes, Hot-melt Adhesives, Tires & Rubber, Cosmetics & Personal Care, Food), and Region - Global Forecast to 2026

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Report Code: CH 4728 Apr, 2019, by marketsandmarkets.com
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[171 Pages Report] In 2018, the industrial wax market was valued at USD 9.8 billion and is projected to reach USD 14.3 billion by 2026, registering a CAGR of 4.8% during 2018-2026. The drivers of the market are increasing applications of industrial waxes and growing demand from candle application. The restraining factors in the market are shrinking supply of paraffin wax globally and increasing prices of industrial waxes.

Biosurgery Market

The fossil-based waxes segment is estimated to be the largest type of the industrial wax market.

The fossil-based waxes segment is the largest type of the industrial wax market. These waxes are largely used in candle making, packaging, and coatings of commercial products. In addition, these waxes are used in the cosmetics industry as they are considered extensively safe and are derived from various processes of crude oil refining. Petroleum wax has a high-gloss characteristic, which makes it a suitable ingredient for polishes and is commonly used in floors, furniture, cars, and footwear.

The market in the tire & rubber application to register the highest CAGR during the forecast period.

The market in the tire & rubber application is projected to witness the highest growth rate during the forecast period. Industrial waxes are added to the compounds of rubbers and tires to protect them from ozone and UV lights. In addition, these waxes are applied to tires and rubbers to protect them from cracking. Moreover, the growing tire and rubber industries are expected to drive the demand for industrial waxes during the forecast period.

Asia Pacific accounts for the largest share of the industrial wax market

Asia Pacific was estimated to account for the largest share of the industrial wax market in 2017. China, India, and Japan are among the leading markets for candle making, packaging, coatings & polishes, and tires & rubber. The growth in the application segments has increased the demand for industrial wax in the region.

Biosurgery Market

Market Dynamics

Drivers

Rising demand from applications such as candle, tire & rubber, and coating & polishes.

Candle application contributed the largest share in the industrial wax market and is expected to remain the largest segment during the forecast period. The growing demand for colored and scented candles is driving the market for industrial wax in candle application. Growing cosmetic industry is expected to drive the demand for industrial waxes. Wax paper is a proficient and cost-effective wrapping that protects products from humidity, water, and greasing. Excellent shine, anti-blocking, water-proofing, anti-scratch properties, and slip resistance are the favored properties of industrial waxes in the coating industry. The increase in demand for industrial waxes from the coating & polishes application is expected to boost the industrial wax market growth during the forecast period.

Restraints

Shrinking supply of paraffin wax

Changes in base oil production process had been observed in last few years. Base oil manufacturers are shifting their focus from waxes to comparatively profitable base oil option. Waxes are converted into base oils through isomerization in this process. As a result, the supply of fossil based paraffin waxes was seen to be shrinking. The continuous shrinking of supply of fossil waxes is expected to result in the supply-demand gap and is expected to be the restraining factor for the industrial wax market. The new technologies of wax production such as GTL and CTL are capable of producing good quality wax and expected to fill the demand-supply gap during the forecast period.

Opportunities

Growing demand for unconventional waxes

Biobased waxes are mostly favored by food packaging, cosmetics, and personal care applications. The specific properties of bio-based waxes are attributed to the growing demand of these types of waxes in food, cosmetics, and personal care applications. The growing cosmetic industry is also providing ample opportunities for the growth of the industrial wax market.

Challenges

To meet the growing demand for paraffin wax

Global industrial wax demand in 2017, accounted for 5,329.8 kilotons, and is growing at a CAGR of 3.8% during 2018-2026. Around 81% of demand is for fossil based waxes. Most of which is for paraffin waxes. The recent shutdowns of group I base oil plants, and capacity reductions have impacted on the total supply of paraffin waxes. Balancing the supply and demand is one of the challenges in the industrial wax market.

Report Scope

Report Metric

Details

Market size available for years

2016–2026

Base year considered

2017

Forecast period

2018–2026

Forecast units

Volume (Kiloton)  Value (USD Million)

Segments covered

Type, Application, and Region

Geographies covered

North America, APAC, Europe, Middle East & Africa, and South America

Companies covered

Sinopec (China), Royal Dutch Shell (Netherlands), Petroleo Brasileiro (Brazil), Exxon Mobil (US), Sasol (South Africa), Oil Co. Lukoil PJSC (Russia), Numaligarh Refinery (India), HCl (China), The Blayson Group (UK), and International Group (Canada).

Report Segmentation

  • Industrial Wax market, by Type
    • Fossil Based Waxes
      • Mineral Waxes (Montan Wax, Ozokerite)
      • Petroleum Waxes (Paraffin Wax, Microcrystalline Wax)
    • Synthetic Based Wax
      • Poly-Olefin Waxes/ Alpha-Olefin Waxes
      • Fischer-Topsch Waxes (GTL, CTL, BTL)
    • Bio-Based Waxes
      • Vegetable Waxes (Candelilla Wax, Carnauba Wax)
      • Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)
  • Industrial Wax market, by Application
    • Candles
    • Packaging
    • Coatings & Polishes
    • Hot Melt Adhesives
    • Tires & Rubber
    • Cosmetics & Personal Care
    • Food
    • Others (Agriculture, Printing Inks, PVC, Chlorinated Paraffin and Investment Casting)

  • Industrial Wax market, by Region

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

Key Players

The leading players in the industrial wax market are Sinopec (China), Royal Dutch Shell (Netherlands), Petroleo Brasileiro (Brazil), Exxon Mobil (US), Sasol (South Africa), Oil Co. Lukoil PJSC (Russia), Numaligarh Refinery (India), HCl (China), The Blayson Group (UK), and International Group (Canada). These players adopted expansions, acquisitions, new product launches, and agreements as their key growth strategies from 2013 to 2016, which helped them increase their capacities and cater to the widening customer base.

Recent Developments

In March 2017, Sasol inaugurated the full completion of its FT Wax Expansion Project (FTWEP). This expansion is one of a number of major capital investments the company has made in South Africa. Phase-2 began operation in March 2017.

In January 2016, Sinopec commenced constructing its R&D Center in Saudi Arabia. The Center is expected to focus on technology research, serve as technology promotion center as well as a senior personnel training center of Sinopec.

Key Questions Addressed by the Report

  • What are the global demand trends for industrial wax? Will the market witness an increase or decline in demand in the coming years?
  • What is the estimated demand for industrial wax? Which type is used the most in applications?
  • What were the revenue pockets for the industrial wax market in 2017?
  • What are the upcoming technologies/product areas that will have a significant impact on the market in the future?
  • Who are the major manufacturers of industrial wax, globally?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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 By Region
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    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. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Industrial Wax Market
    4.2 Asia-Pacific Industrial Wax Market 2017
    4.3 China Expected to Lead the APAC Industrial Wax Market, During Forecast Period
    4.4 Asia-Pacific is Expected to Lead the Global Industrial Wax Market, During Forecast Period, (2018-2026)

5 Market Overview (Page No. - 35)
    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 The 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 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 the Packaging Industry in North America

6 Industry Trends (Page No. - 42)
    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
    6.2 Europe:
                    6.2.1.1 The Shift of Food Packaging Industry From Paraffin Wax Towards the Natural Waxes
                    6.2.1.2 Rise in Demand for Paraffin Wax in Candle Making Increasing the Imports in Europe
           6.2.2 Asia-Pacific:
                    6.2.2.1 The Fastest Growing Wax Market in the World
                    6.2.2.2 Increasing Production Capacities in the Region
           6.2.3 Leading Wax Manufacturers are Developing Sustainable and Innovative Solutions for Existing and New Applications of Wax to Drive the Industry Forward
                    6.2.3.1 Packaging
                    6.2.3.2 Mining
                    6.2.3.3 Leisure & Sports
                    6.2.3.4 Textile & Leather
                    6.2.3.5 Building & Construction
    6.3 Value Chain Analysis
           6.3.1 Raw Material Suppliers
           6.3.2 Manufacturers
           6.3.3 Distributors/Resellers
           6.3.4 End-Users
    6.4 Porter’s Five Force Analysis
           6.4.1 Bargaining Power of Suppliers
                    6.4.1.1 Fluctuation in Crude Oil Prices:
                    6.4.1.2 A Large Number of Raw Material Suppliers:
           6.4.2 Threat of New Entrants
                    6.4.2.1 Highly Consolidated Market:
                    6.4.2.2 Small Players Restricted to Local Markets:
           6.4.3 Threat of Substitutes
                    6.4.3.1 A Limited Number of Substitutes:
                    6.4.3.2 Product Differentiation is Low:
           6.4.4 Bargaining Power of Buyers
                    6.4.4.1 Brand Sensitive Market:
                    6.4.4.2 A Sufficient Number of Suppliers:
           6.4.5 Intensity of Rivalry
                    6.4.5.1 A Market Dominated By A Few Well-Established Players:
    6.5 Macroeconomic Indicators
           6.5.1 GDP Growth Rate Forecast of Major Global Economies
           6.5.2 Candle Market Analysis
           6.5.3 Comparison Between Industrial Wax Market & Hot Melt Adhesives Market Growth
           6.5.4 Consumer Packaging Market Analysis
           6.5.5 Rubber Market Analysis

7 Industrial Wax Market, By Type (Page No. - 55)
    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. - 64)
    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, PVC, Chlorinated Paraffin and Investment Casting)

9 Industrial Wax Market, By Region (Page No. - 79)
    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. - 142)
     10.1 Overview
     10.2 Competitive Situations and Trends
     10.3 Market Share Analysis
             10.3.1 Sinopec Ltd.
             10.3.2 Exxon Mobil Corp
             10.3.3 The Royal Dutch Shell
             10.3.4 Sasol Wax Ltd
             10.3.5 Oil Co. Lukoil PJSC
     10.4 Expansions: Most Popular Growth Strategy 2015 to 2017
             10.4.1 New Product Launches
             10.4.2 Expansions
             10.4.3 Contracts & Agreements
             10.4.4 Joint-Ventures

11 Company Profiles (Page No. - 147)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     11.1 Sinopec Ltd.
     11.2 Royal Dutch Shell PLC
     11.3 Petroleo Brasileiro S.A. (Petrobras)
     11.4 Exxon Mobil Corp
     11.5 Sasol Ltd.
     11.6 Oil Co. Lukoil PJSC
     11.7 Numaligarh Refinery Ltd
     11.8 HCI
     11.9 The Blayson Group Ltd
     11.10 International Group Inc.

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 165)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (162 Tables)

Table 1 Market Segmentation, By Type
Table 2 Market Segmentation, By Application
Table 3 Trends and Forecast for GDP Percentage Growth Rates From 2016 to 2023
Table 4 Industrial Wax Market, By Type, 2016-2026 (Kilotons)
Table 5 Industrial Wax Market, By Type, 2016-2026 (USD Million)
Table 6 Fossil Based Industrial Wax Market, By Region, 2016-2026 (Kilotons)
Table 7 Fossil Based Industrial Wax Market, By Region, 2016-2026 (USD Million)
Table 8 Synthetic Based Industrial Wax Market, By Region, 2016-2026 (Kilotons)
Table 9 Synthetic Based Industrial Wax Market, By Region, 2016-2026 (USD Million)
Table 10 Bio-Based Industrial Wax Market, By Region, 2016-2026 (Kilotons)
Table 11 Bio- Based Industrial Wax Market, By Region, 2016-2026 (USD Million)
Table 12 Application of Beeswax for Different Product Categories:
Table 13 Industrial Wax Market Size, By Application, 2016–2026 (Kilotons)
Table 14 Industrial Wax Market Size, By Application, 2016–2026 (USD Million)
Table 15 Industrial Wax Market Size in Candles, By Region, 2016–2026 (Kilotons)
Table 16 Industrial Wax Market Size in Candles, By Region, 2016–2026 (USD Million)
Table 17 Industrial Wax Market Size in Packaging Application, By Region, 2016–2026 (Kilotons)
Table 18 Industrial Wax Market Size in Packaging Application, By Region, 2016–2026 (USD Million)
Table 19 Industrial Wax Market Size in Coatings & Polishes Application, By Region, 2016–2026 (Kilotons)
Table 20 Industrial Wax Market Size in Coatings & Polishes Application, By Region, 2016–2026 (USD Million)
Table 21 Industrial Wax Market Size in Hot Melt Adhesives Application, By Region, 2016–2026 (Kilotons)
Table 22 Industrial Wax Market Size in Hot Melt Adhesives Application, By Region, 2016–2026 (USD Million)
Table 23 Industrial Wax Market Size in Tires & Rubber Application, By Region, 2016–2026 (Kilotons)
Table 24 Industrial Wax Market Size in Tires & Rubber Application, By Region, 2016–2026 (USD Million)
Table 25 Industrial Wax Market Size in Cosmetics & Personal Care Application, By Region, 2016–2026 (Kilotons)
Table 26 Industrial Wax Market Size in Cosmetics & Personal Care Application, By Region, 2016–2026 (USD Million)
Table 27 Industrial Wax Market Size in Food Application, By Region, 2016–2026 (Kilotons)
Table 28 Industrial Wax Market Size in Food Application, By Region, 2016–2026 (USD Million)
Table 29 Industrial Wax Market Size in Other Applications, By Region, 2016–2026 (Kilotons)
Table 30 Industrial Wax Market Size in Other Applications, By Region, 2016–2026(USD Million)
Table 31 Industrial Wax Market Size, By Region, 2016–2026 (Kiloton)
Table 32 Industrial Wax Market Size, By Region, 2016–2026 (USD Million)
Table 33 North America: Industrial Wax Market Size, By Country, 2016–2026, (Kilotons)
Table 34 North America: Industrial Wax Market Size, By Country, 2016–2026, (USD Million)
Table 35 North America: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 36 North America: Industrial Wax Market Size, By Application, 2018–2026, (USD Million)
Table 37 North America: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 38 North America: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 39 U.S.: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 40 U.S.: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 41 U.S.: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 42 U.S.: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 43 Canada: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 44 Canada: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 45 Canada: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 46 Canada: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 47 Mexico: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 48 Mexico: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 49 Mexico: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 50 Mexico: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 51 Europe: Industrial Wax Market Size, By Country, 2016–2026, (Kiloton)
Table 52 Europe: Industrial Wax Market Size, By Country, 2016–2026, (USD Million)
Table 53 Europe: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 54 Europe: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 55 Europe: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 56 Europe: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 57 Germany: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 58 Germany: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 59 Germany: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 60 Germany: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 61 France: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 62 France: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 63 France: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 64 France: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 65 Netherlands: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 66 Netherlands: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 67 Netherlands: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 68 Netherlands: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 69 Russia: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 70 Russia: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 71 Russia: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 72 Russia: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 73 U.K.: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 74 U.K: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 75 U.K.: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 76 U.K.: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 77 Poland: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 78 Poland: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 79 Poland: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 80 Poland: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 81 Rest of Europe: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 82 Rest of Europe: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 83 Rest of Europe: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 84 Rest of Europe: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 85 Asia-Pacific: Industrial Wax Market Size, By Country, 2016–2026, (Kiloton)
Table 86 Asia-Pacific: Industrial Wax Market Size, By Country, 2016–2026, (USD Million)
Table 87 Asia-Pacific: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 88 Asia-Pacific: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 89 Asia-Pacific: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 90 Asia-Pacific: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 91 China: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 92 China: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 93 China: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 94 China: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 95 India: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 96 India: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 97 India: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 98 India: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 99 Japan: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 100 Japan: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 101 Japan: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 102 Japan: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 103 South Korea: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 104 South Korea: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 105 South Korea: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 106 South Korea: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 107 Indonesia: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 108 Indonesia: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 109 Indonesia: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 110 Indonesia: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 111 Thailand: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 112 Thailand: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 113 Thailand: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 114 Thailand: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 115 Vietnam: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 116 Vietnam: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 117 Vietnam: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 118 Vietnam: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 119 Rest of Asia-Pacific: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 120 Rest of Asia-Pacific: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 121 Rest of Asia-Pacific: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 122 Rest of Asia-Pacific: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 123 Middle East & Africa: Industrial Wax Market Size, By Country, 2016–2026, (Kiloton)
Table 124 Middle East & Africa: Industrial Wax Market Size, By Country, 2016–2026, (USD Million)
Table 125 Middle East & Africa: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 126 Middle East & Africa: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 127 Middle East & Africa: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 128 Middle East & Africa: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 129 Saudi Arabia: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 130 Saudi Arabia: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 131 Saudi Arabia: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 132 Saudi Arabia: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 133 Egypt: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 134 Egypt: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 135 Egypt: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 136 Egypt: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 137 Rest of Middle East & Africa: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 138 Rest of Middle East & Africa: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 139 Rest of Middle East & Africa: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 140 Rest of Middle East & Africa: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 141 South America: Industrial Wax Market Size, By Country, 2016–2026, (Kiloton)
Table 142 South America: Industrial Wax Market Size, By Country, 2016–2026, (USD Million)
Table 143 South America: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 144 South America: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 145 South America: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 146 South America: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 147 Brazil: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 148 Brazil: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 149 Brazil: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 150 Brazil: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 151 Argentina: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 152 Argentina: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 153 Argentina: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 154 Argentina: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 155 Rest of South America: Industrial Wax Market Size, By Application, 2016–2026, (Kiloton)
Table 156 Rest of South America: Industrial Wax Market Size, By Application, 2016–2026, (USD Million)
Table 157 Rest of South America: Industrial Wax Market Size, By Type, 2016–2026, (Kiloton)
Table 158 Rest of South America: Industrial Wax Market Size, By Type, 2016–2026, (USD Million)
Table 159 New Product Launches, 2015–2016
Table 160 Expansions, 2015–2018
Table 161 Contracts & Agreements, 2015–2018
Table 162 Joint Venture, 2015–2018


List of Figures (60 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 Dominant Type of Industrial Wax Till 2026
Figure 8 Candle Application is Expected to Lead the Industrial Wax Market, During 2018-2026
Figure 9 Growing Net Paraffin Wax 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, By Volume
Figure 11 Asia-Pacific and North America to Drive the Global Demand for Industrial Wax
Figure 12 Asia-Pacific Industrial Wax Market 2017
Figure 13 Asia Pacific Expected to Lead the Industrial Wax Market During Forecast Period
Figure 14 Asia-Pacific is Expected to Be the Largest Market During 2018-2026
Figure 15 Industrial Wax Market Segmentation, By Region
Figure 16 Industrial Wax: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Value Chain Analysis
Figure 18 Porter’s Five Forces Analysis
Figure 19 Candle Consumption in the European Union
Figure 20 Candle Imports, By Key Countries 2010-2014
Figure 21 Global Hot Melt Adhesives Growth Rate Versus Industrial Wax Growth Rate (2016-2021)
Figure 22 Consumer Packaging Demand (2011-2017)
Figure 23 Consumer Packaging Consumption in Asia-Pacific (2011-2017)
Figure 24 Natural Rubber Production-Consumption 2016-2017
Figure 25 Synthetic Rubber Production-Consumption 2016-2017
Figure 26 Fossil Based Type is Estimated to Be the Largest Segment of Global Industrial Wax Market in 2018
Figure 27 Fossil Based Waxes to Lead the Industrial Wax Market, 2018-2026
Figure 28 Asia-Pacific to Lead the Fossil Based Wax Market During 2018-2026
Figure 29 North America to Lead the Synthetic Wax Market During 2018-2026
Figure 30 Europe Expected to Lead the Bio Based Wax Market During 2018-2026
Figure 31 Industrial Wax Share, By Application, 2017 (USD Million)
Figure 32 North America Expected to Lead Industrial Wax Market in Packaging Application (2018-2026)
Figure 33 North America Expected to Lead Industrial Wax Market in Coatings & Polishes Application, (2018-2026)
Figure 34 APAC Expected to Lead Industrial Wax Market in Hot Melt Adhesives Application
Figure 35 North America Expected to Lead Industrial Wax Market in Tires & Rubber Application
Figure 36 Asia-Pacific Expected to Lead Industrial Wax Market in Cosmetics & Personal Care Application in 2026
Figure 37 Europe Expected to Lead Industrial Wax Market in Food Application
Figure 38 Europe Estimated to Lead Industrial Wax Market in Other Applications
Figure 39 Regional Snapshot: Rapid Growth Markets are Emerging as New Hotspots
Figure 40 North America Market Snapshot: the U.S. to Lead Industrial Wax Market in North America
Figure 41 U.S. Market Snapshot: 2018 vs 2026
Figure 42 Industrial Wax Market in Europe Snapshot: Increasing Demand From Application Segment to Drive the Market
Figure 43 Industrial Wax Market in Europe Snapshot: Demand Will Be Driven By Increasing Demand From Applications
Figure 44 Asia-Pacific Market Snapshot: Country-Wise Market Share of Industrial Wax -2017 (Kiloton)
Figure 45 Companies Adopted Expansions as the Key Growth Strategy Between 2015 and 2017
Figure 46 Market Evaluation Framework: Expansions Fueled Growth Between 2015, 2016 and 2017
Figure 47 Market Share of Key Players in the Market, Based on Capacity, 2017:
Figure 48 Sinopec Ltd.: Business Overview
Figure 49 Sinopec Ltd.: SWOT Analysis
Figure 50 Royal Dutch Shell PLC.: Business Overview
Figure 51 Royal Dutch Shell PLC: SWOT Analysis
Figure 52 Petroleo Brasileiro S.A. (Petrobras): Business Overview
Figure 53 Petroleo Brasileiro S.A. (Petrobras): SWOT Analysis
Figure 54 Exxon Mobil Corp.: Company Snapshot
Figure 55 Exxon Mobil Corp.: SWOT Analysis
Figure 56 Sasol Ltd.: Company Snapshot
Figure 57 Sasol Ltd.: SWOT Analysis
Figure 58 Oil Co. Lukoil PJSC.: Company Snapshot
Figure 59 Oil Co. Lukoil PJSC.: SWOT Analysis
Figure 60 Numaligarh Refinery Ltd.: Company Snapshot

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The study involves four major activities for estimating the current industrial wax market size. Exhaustive secondary research was done to collect information related to the industrial wax market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market sizes of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet have been referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; gold standard & silver standard websites; regulatory bodies; trade directories; and databases.

Primary Research

The industrial wax market comprises several stakeholders, such as raw material suppliers, technology developers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of the petroleum and renewable industries. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Biosurgery Market

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the size of the global industrial wax market and to estimate the sizes of various other dependent submarkets. The research methodology used to estimate the market size includes the following:

  • The key players in the industry were identified through extensive secondary research.
  • The supply chain of the industry and market size, in terms of value and volume, were determined through primary and secondary research.
  • All percentage splits and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research includes the study of reports, reviews, and newsletters of key industry players along with extensive interviews with key officials, such as directors and marketing executives.

Data Triangulation

After arriving at the total market size through the estimation process explained above, the overall market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market size estimation process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated by using both the top-down and bottom-up approaches. It was then verified through primary interviews. Hence, for every data segment, there are three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed to be correct when the values arrived at from the three sources matched.

Report Objectives

  • To define and segment the global industrial wax market
  • To provide detailed information regarding the significant factors influencing the growth of the global industrial wax market (drivers, restraints, opportunities, and challenges)
  • 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, and the key countries within these regions
  • To analyze competitive developments, such as new product development, capacity expansion, contract & agreement, and joint-venture, in the global industrial wax market
  • To strategically profile key players in the global industrial wax market

Available Customizations:

 MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data. The following customization options are available for the report:

Regional Analysis:

  • A further breakdown of a region with respect to a particular country

Company Information:

  • Detailed analysis and profiling of additional market players (up to five)

Product Analysis

  • Product Matrix that gives a detailed comparison of product portfolio of each company
Report Code
CH 4728
Published ON
Apr, 2019
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