Industrial Wax Market by Type , Application-Global Forecast to 2026


Posted June 29, 2018 by paragtk

[186 Pages] Industrial Wax Market research report categorizes the global market by Application , Type (Bio-Based, Fossil Based, Synthetic Based) & by Geography.

 
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).

Candles, the largest application for industrial wax market

The candles application is estimated to be the largest application for the industrial wax market. Industrial wax is preferred for making candles due to its properties such as moldability and extrudability. These properties of industrial wax enable the production of candles in all types of shapes and sizes. This application is growing due to the increasing demand for fragrant candle products, decorative items and the use of candles for religious and therapeutic purposes.

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Fossil based waxes, the leading type in industrial wax market

Fossil based waxes accounted for the largest share of the global industrial wax market. Fossil based waxes include mineral wax and petroleum wax, which are largely used for coating commercial products. Waxes such as ozokerite, paraffin, microcrystalline wax, ceresin, and petrolatum, are extensively used in the cosmetics industry, as they are considered extensively safe and are derived from the various processes of crude oil refining. Petroleum waxes have high gloss characteristics, which makes them suitable ingredients for polishes, predominantly for the “paste” type commonly used on floors, furniture, cars, and footwear.

Drivers
1- Rising Demand From Applications Such as Candle, Tire& Rubber, and Coating & Polishes,
2 - Increasing Acceptance of Synthetic Waxes
3 - Technology Changes in the Wax Market
4 - Growing Population and Increasing Per Capita Income in the Emerging Countries Such as India, China and Other Asian

Growing demand in Asia-Pacific, the major driver for growth of industrial wax market

In 2015, the Asia-Pacific region accounted for the largest share of the global industrial wax market and is expected to grow at the highest rate from 2016 to 2026. China is currently the largest market in the Asia-Pacific region for industrial wax and is expected to remain the largest market during the forecast period. India is the fastest-growing market for industrial wax. The increasing demand from the candles, packaging and coatings & polishing applications and the fast growing need for tires & rubber and cosmetics & personal care applications, drives the industrial wax market in these countries.

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The key companies profiled in the industrial wax market research report are Sinopec Corp. (China), Royal Dutch Shell Plc (Netherlands), Petroleo Brasileiro S.A. (Petrobras) (Brazil), Exxon Mobil Corp. (U.S.), Sasol Limited (South Africa), OJSC Lukoil (Russia), Numaligarh Refinery Limited (India), HCl WAX (China), The Blayson Group Ltd (UK) and International Group, Inc. (Canada).

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
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Categories Business , Food , Health
Tags candle wax , industrial floor wax , industrial wax , industrial wax market
Last Updated June 29, 2018