The Industrial Wax Market report presents a professional and deep analysis of the present state of the market segments that includes product types, applications, capacity, production, market share, price, revenue, growth rate, consumption, import, export, etc. Moreover. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Industrial Wax Market Overview
The global Industrial wax market size is projected to reach USD 9.1 billion by 2026 at a CAGR of 4.2% from USD 7.5 billion in 2021 during the forecast period 2021-2028.
Bio-based wax demand is growing in packaging, cosmetic, food, various applications, due to environmental policies in developed regions like North America and Europe. Growing population and high gross domestic product growth rates in countries like India, China, and different Asian countries boost the Industrial wax market.
Growing demand for the cosmetics & personal care products, and increased adoption of waxes in the tire & rubber market are some of the factors that have supported long-term expansion for Industrial wax Market.
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The manufacturing activities have been interrupted and the disturbed supply chain has resulted in a decline for industrial wax in major countries such as U.S., UK, Germany, and France. Moreover, decreased demand for cosmetics, candles, and consumer products across the globe has weakened the demand for wax market.
Industrial Wax Market Regional Analysis
Asia-Pacific holds the largest share in the industrial wax market due to growing economies such as Japan, China, India, and other APAC countries namely Indonesia, and South Korea.
Industrial Wax Market Competitive Landscape
Key Players
• ExxonMobil
• Royal Dutch Shell PLC
• Sinopec
• Sasol Ltd
• CEPSA
• Hollyfrontier Corporation
• Calumet Specialty Products Partners
• Gandhar Oil refinery
• Numaligarh Refinery Limited
• Petróleo Brasileiro
• THE PJSC Lukoil Oil Company
Country Level Scope
• U.S
• Japan
• Germany
• U.K
• China
• India
• Brazil
• UAE
• South Africa
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Industrial Wax Market Recent Developments
• ExxonMobil announced to proceed with a USD 2 billion investment to expand the chemical plant in Baytown, Texas, creating approximately 2,000 jobs.
• Shell Eastern Petroleum Ltd (“Shell”) launched two new wax products, Slackwax 60 and Slackwax 120, at its Pulau Bukom manufacturing site in Singapore. Shell intends to manufacture 60 kilotonnes of these products annually, serving customers in Asia, Europe and the US.
The Industrial Wax Market report answers a number of crucial questions, including:
What are the years considered to study Industrial Wax Market?
What is the compound annual growth rate (CAGR) of the Industrial Wax Market?
Which region holds the largest market share in Industrial Wax Market?
Which region is the fastest growing Industrial Wax Market?
Who are the major players in Industrial Wax Market?
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Industrial Wax Market Reasons to Acquire
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Industrial wax market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Industrial Wax Market, by Type (Fossil-based wax, Synthetic wax, Bio-Based wax), Application (Candles, Packaging, Coatings & Polishes, Hot-melt Adhesives, Tires & Rubber, Cosmetics & Personal Care, Food) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
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