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PUBLISHER: Grand View Research | PRODUCT CODE: 1233055
PUBLISHER: Grand View Research | PRODUCT CODE: 1233055
Paraffin Wax Market Size, Share & Trends Analysis Report By Application (Candles, Packaging, Cosmetics, Hot melts, Board Sizing, Rubber), By Region, And Segment Forecasts, 2023 - 2030
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PAGES: 80 Pages
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Paraffin Wax Market Growths & Trends:
The global paraffin wax market is expected to reach USD 11,980.01 million by 2030, registering a CAGR of 5.3% from 2023 to 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by its rising applications in the candles, packaging, and cosmetic industries. Growing demand for paraffin wax owing to its water-barrier properties is likely to stimulate its consumption for the coating in the cardboard and paper industry.
Increasing applications of paraffin wax in the manufacturing of hot-melt adhesives, industrial coatings, surface protection, rubber and pharmaceuticals, electrical insulation, plastic processing aids, and fabric proofing are expected to fuel its demand during the forecast period. The rising requirement for paraffin wax candles due to its low cost is likely to propel the market growth. Paraffin-based waxes are water-resistant, economical, and require the use of minimal machinery during their production, which in turn, is likely to stimulate the development of the industry and drive its demand throughout the forecast period.
Increasing investments by key manufacturers, including Sinopec, ExxonMobil, Sasol, International Group, Inc., and Petro China, are expected to drive the growth of the product industry. Rising production of shale oil in the U.S., China, Russia, Brazil, and Australia is expected to drive the demand. However, the market expansion is likely to be constrained by the erratic nature of petroleum prices as well as negative environmental effects like soot emissions and carcinogenic toxins. However, it is anticipated that new opportunities will arise in the coming years due to the introduction of wax deoiling technology which produces paraffin wax from slack wax.
The increasing production of candles in China and the U.S., coupled with the robust growth of the global packaging market, is expected to have a positive impact on the product market. Asia Pacific is projected to register the fastest growth rate during the forecast period owing to the increasing production and consumption of the product in China and India. Furthermore, Asia Pacific is expected to hold the highest revenue share in the global industry.
Paraffin Wax Market Report Highlights:
- In 2022, candles emerged as the dominating application segment by contributing more than 42.52% of the revenue share. This is attributed to its increasing use in home interiors
- The demand for soy and natural wax candles as alternatives is also consistently growing as they are biodegradable, chemical-free, burn cleaner, and last longer
- Asia Pacific emerged as the dominating application segment by contributing more than 65.9% of the revenue share, on account of the increased demand for convenient packaging options from cosmetics and pharmaceutical industries across the majority of the Asian economies
- Countries such as China, India, Indonesia, Thailand, and Japan, among others, are price sensitive, therefore, packaging pricing stands as a key point to achieve success in the Asia Pacific
Product Code: 978-1-68038-520-5
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market Segmentation & Scope
- 1.2 Information Procurement
- 1.2.1 Information analysis
- 1.2.2 Market formulation & data visualization
- 1.2.3 Data validation & publishing
- 1.3 Research scope and assumptions
- 1.3.1 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Outlook
- 2.2 Segment Outlook
- 2.3 Competitive Insight
Chapter 3 Paraffin Wax Market Outlook
- 3.1 Market Lineage Outlook
- 3.1.1 Global Slack Wax Market Outlook
- 3.2 Penetration and Growth Prospect Mapping, 2016 - 2027
- 3.3 Paraffin Wax Market: Value Chain Analysis
- 3.3.1 Raw Material Trends
- 3.3.2 Manufacturing Trends
- 3.3.3 Sales Channel Analysis
- 3.4 Price Trend Analysis
- 3.5 Regulatory Framework
- 3.5.1 Product Classification Codes
- 3.5.2 Standard and Compliances
- 3.6 Market Dynamics
- 3.6.1 Market Driver Analysis
- 3.6.1.1 Increase in Demand for Candles in Europe
- 3.6.1.2 Robust Growth of Flexible Packaging Market
- 3.6.2 Market Restraint
- 3.6.2.1 Volatility in Raw Material Prices
- 3.6.3 Industry Challenges
- 3.6.3.1 Threat of substitutes
- 3.6.1 Market Driver Analysis
- 3.7 Demand Supply Scenario
- 3.8 Trade Analysis
- 3.8.1 Net Importers, Key Country Analysis, 2018 - 2021, As per HS Code - 271220
- 3.8.2 Net Exporters, Key Country Analysis, 2018 - 2021, As per HS Code - 271220
- 3.9 Business Environment Analysis
- 3.9.1 Industry Analysis - Porter's
- 3.9.1.1 Supplier Power
- 3.9.1.2 Buyer Power
- 3.9.1.3 Substitution Threat
- 3.9.1.4 Threat from New Entrant
- 3.9.1.5 Competitive Rivalry
- 3.9.2 PESTEL Analysis
- 3.9.1 Industry Analysis - Porter's
Chapter 4 Paraffin Wax Market: Application Estimates & Trend Analysis
- 4.1 Application Market Introduction
- 4.2 Paraffin wax market estimates & forecast, by application
- 4.2.1 Candles
- 4.2.2 Packaging
- 4.2.3 Cosmetics
- 4.2.4 Hotmelts
- 4.2.5 Board Sizing
- 4.2.6 Rubber
- 4.2.7 OTher
Chapter 5 Paraffin Wax Market: Regional Estimates & Trend Analysis
- 5.1 Regional Market Introduction
- 5.2 Paraffin wax market estimates & forecast, by region
- 5.2.1 North America
- 5.2.1.1 U.S.
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 U.K.
- 5.2.2.3 France
- 5.2.3 Asia Pacific
- 5.2.3.1 China
- 5.2.3.2 India
- 5.2.3.3 Japan
- 5.2.3.4 South Korea
- 5.2.4 Central & South America
- 5.2.4.1 Brazil
- 5.2.5 Middle East & Africa
- 5.2.1 North America
Chapter 6 Competitive Landscape
- 6.1 Key Global Players & Recent Developments & Their Impact on the Industry
- 6.2 Key Company/Competition Categorization
- 6.3 Vendor landscape
- 6.3.1 List of key distributors and channel partners
- 6.3.2 Key customers
- 6.3.3 Key company market share analysis
- 6.4 Company Market Position Analysis (Public & Private Companies)
- 6.5 Production capacity by major participants
- 6.6 Public companies
- 6.6.1 competitive dashboard analysis
- 6.6.1.1 Market differentiators
- 6.6.1.2 Synergy analysis
- 6.6.1 competitive dashboard analysis
- 6.7 Private companies
- 6.7.1 Geographical presence
- 6.7.2 Supplier ranking
Chapter 7 Company Profiles
- 7.1 PetroChina Company Limited
- 7.1.1 company introduction
- 7.1.2 General Information
- 7.1.3 Key Financial data
- 7.1.4 Product portfolio
- 7.1.5 Key developments
- 7.2 China Petrochemical Corporation (Sinopec)
- 7.2.1 company introduction
- 7.2.2 general information
- 7.2.3 Key Financial data
- 7.2.4 Product portfolio
- 7.2.5 Key developments
- 7.3 Indian Oil Corporation Ltd. (IOCL)
- 7.3.1 company introduction
- 7.3.2 General Information
- 7.3.3 Key Financial data
- 7.3.4 Product portfolio
- 7.3.5 Key developments
- 7.4 Sasol Limited
- 7.4.1 company introduction
- 7.4.2 general information
- 7.4.3 Key Financial data
- 7.4.4 Product portfolio
- 7.4.5 Key developments
- 7.5 Exxon Mobil Corporation
- 7.5.1 company introduction
- 7.5.2 General Information
- 7.5.3 Key Financial data
- 7.5.4 Product portfolio
- 7.5.5 Key developments
- 7.6 The International Group, Inc.
- 7.6.1 company introduction
- 7.6.2 General Information
- 7.6.3 Key Financial data
- 7.6.4 Product portfolio
- 7.7 Petrobras
- 7.7.1 company introduction
- 7.7.2 General Information
- 7.7.3 Key Financial data
- 7.7.4 Product portfolio
- 7.7.5 Key developments
- 7.8 NIPPON SEIRO CO., LTD.
- 7.8.1 company introduction
- 7.8.2 General Information
- 7.8.3 Key Financial data
- 7.8.4 Product Portfolio
- 7.9 Repsol
- 7.9.1 company introduction
- 7.9.2 general information
- 7.9.3 Key Financial data
- 7.9.4 Product portfolio
- 7.9.5 Key developments
- 7.10 HollyFrontier Corporation
- 7.10.1 company introduction
- 7.10.2 general information
- 7.10.3 Key Financial data
- 7.10.4 Product portfolio
- 7.10.5 Key developments
- 7.11 H&R GROUP
- 7.11.1 company introduction
- 7.11.2 general information
- 7.11.3 Key Financial data
- 7.11.4 Product portfolio
- 7.12 Honeywell International Inc.
- 7.12.1 company introduction
- 7.12.2 general information
- 7.12.3 Key Financial data
- 7.12.4 Product portfolio
- 7.12.5 Key developments
- 7.13 Cepsa
- 7.13.1 company introduction
- 7.13.2 general information
- 7.13.3 Key Financial data
- 7.13.4 Product portfolio
- 7.13.5 Key developments
- 7.14 Calumet Specialty Products Partners, L.P.
- 7.14.1 company introduction
- 7.14.2 general information
- 7.14.3 Key Financial data
- 7.14.4 Product Portfolio
- 7.14.5 Key developments
- 7.15 Ergon, Inc.
- 7.15.1 company introduction
- 7.15.2 general information
- 7.15.3 Key Financial data
- 7.15.4 Product portfolio
- 7.15.5 Key developments
- 7.16 Eni SpA
- 7.16.1 company introduction
- 7.16.2 general information
- 7.16.3 Key Financial data
- 7.16.4 Product portfolio
- 7.16.5 Key developments
Product Code: 978-1-68038-520-5
List of Tables
- Table 1 Price trend analysis, 2018 - 2021 (USD/kg)
- Table 2 Production landscape, by Country, 2018 - 2021 (kilotons)
- Table 3 Key importers, by country, 2018 - 2021 (Tons)
- Table 4 Key importers, by country, 2018 - 2021 (USD Thousand)
- Table 5 Key Exporters, by country, 2018 - 2021 (Tons)
- Table 6 Key Exporters, by country, 2018 - 2021 (USD Thousand)
- Table 7 PESTEL analysis
- Table 8 Paraffin wax market volume & revenue, in candles, 2018 - 2030 (Kilotons) (USD Million)
- Table 9 Paraffin wax market volume & revenue, in packaging, 2018 - 2030 (Kilotons) (USD Million)
- Table 10 Paraffin wax market volume & revenue, in cosmetics, 2018 - 2030 (Kilotons) (USD Million)
- Table 11 Paraffin wax market volume & revenue, in hotmelts, 2018 - 2030 (Kilotons) (USD Million)
- Table 12 Paraffin wax market volume & revenue, in board sizing, 2018 - 2030 (Kilotons) (USD Million)
- Table 13 Paraffin wax market volume & revenue, in rubber, 2018 - 2030 (Kilotons) (USD Million)
- Table 14 Paraffin wax market volume & revenue, in other applications, 2018 - 2030 (Kilotons) (USD Million)
- Table 15 North America paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 16 North America paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 17 North America paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 18 U.S. paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 19 U.S. paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 20 U.S. paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 21 Canada paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 22 Canada paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 23 Canada paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 24 Mexico paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 25 Mexico paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 26 Mexico paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 27 Europe paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 28 Europe paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 29 Europe paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 30 Germany paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 31 Germany paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 32 Germany paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 33 U.K. paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 34 U.K. paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 35 U.K. paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 36 France paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 37 France paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 38 France paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 39 Asia Pacific paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 40 Asia Pacific paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 41 Asia Pacific paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 42 China paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 43 China paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 44 China paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 45 India paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 46 India paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 47 India paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 48 Japan paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 49 Japan paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 50 Japan paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 51 South Korea paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 52 South Korea paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 53 South Korea paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 54 Central & South America paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 55 Central & South America paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 56 Central & South America paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 57 Brazil paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 58 Brazil paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 59 Brazil paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
- Table 60 Middle East & Africa paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Table 61 Middle East & Africa paraffin wax market volume, by application, 2018 - 2030 (Kilotons)
- Table 62 Middle East & Africa paraffin wax market revenue, by application, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Paraffin wax market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Paraffin wax market outlook
- Fig. 7 Segmental outlook
- Fig. 8 Paraffin wax market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 9 Paraffin wax market: Value chain analysis
- Fig. 10 Paraffin wax manufacturing process
- Fig. 11 Market dynamics
- Fig. 12 Market driver analysis
- Fig. 13 Consumption of candles in European Union (EU-28), 2018 - 2022 (Tons)
- Fig. 14 Consumption of candles per head in European Union (EU-28), 2018 - 2022 (Kg)
- Fig. 15 Global flexible packaging market, by volume 2022, (Kilotons)
- Fig. 16 Global flexible packaging market, by value 2022, (USD Million)
- Fig. 17 Market restraints analysis
- Fig. 18 Crude oil price trend, 2018 - 2022 (USD/Barrel)
- Fig. 19 Paraffin wax market consumption, by application, 2022
- Fig. 20 Industry analysis - Porter's
- Fig. 21 Paraffin wax market volume, by application, 2018 & 2022 (Kilotons)
- Fig. 22 Paraffin wax market revenue, by region, 2018 & 2022 (Kilotons)
- Fig. 23 Company market share analysis, 2022
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