Asia Pacific Wax Market Size, Share & Trends Analysis Report By Type (Paraffin/Mineral Wax, Synthetic Wax, Natural Wax, and Other Types), By Application, By Country and Growth Forecast, 2024

Description

List of Tables

The Asia Pacific Wax Market would witness market growth of 5.1% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 1,959.63 kilo tonnes, showcasing a growth of 23.1% (2020-2023).

Natural waxes, including beeswax, carnauba, and soy wax, are derived from renewable resources and are biodegradable, making them highly desirable in eco-conscious markets. Beeswax and soy wax are commonly used in candles and cosmetics for their clean-burning and moisturizing properties. Carnauba wax, extracted from palm leaves, is known for its hardness and is often used in car polishes and food coatings. Therefore, by the year 2031, 104.76 kilo tonnes of Natural wax would be utilized in China.

The China market dominated the Asia Pacific Wax Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,654.6 million by 2031. The Japan market is experiencing a CAGR of 4% during (2024 - 2031). Additionally, The India market would exhibit a CAGR of 5.5% during (2024 - 2031).

The adoption of waxes in different industries is driven by their versatile properties, which allow manufacturers to tailor formulations to meet specific performance requirements. Traditional waxes such as paraffin, beeswax, and carnauba wax have long been favored for their affordability, availability, and ease of use. However, there has been a growing interest in specialty waxes derived from renewable sources or produced through advanced manufacturing techniques in recent years.

Wax acceptance is largely driven by the growing need for environmentally clean and sustainable alternatives. As they become more environmentally conscious, customers are looking for products with as little of an impact as possible on the environment. As a result, there has been a shift towards bio-based waxes made from renewable sources such as soy, palm, and rice bran. These renewable waxes offer comparable performance to traditional waxes while reducing carbon footprint and promoting sustainability.

With increasing awareness about environmental sustainability and health consciousness among consumers, Australia has a growing preference for sustainable and natural emulsion products. Emulsions formulated with bio-based waxes derived from renewable sources such as plant waxes and beeswax are considered eco-friendly alternatives to synthetic emulsifiers. The demand for sustainable and natural emulsions drives the consumption of bio-based waxes in Australia. Therefore, the market's expansion is being driven by the region's expanding emulsion and packaging sectors.

Based on Type, the market is segmented into Paraffin/Mineral Wax, Synthetic Wax, Natural Wax, and Other Types. Based on Application, the market is segmented into Candles, Packaging, Emulsions, Hot Melts, Floor Polishes, and Other Applications. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

The Dow Chemical Company
Evonik Industries AG (RAG-Stiftung)
Akzo Nobel N.V.
Exxon Mobil Corporation
Solvay SA
BASF SE
Sasol Limited
Shell plc
Honeywell International, Inc.
Kraton Corporation

Asia Pacific Wax Market Report Segmentation

By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)

Paraffin/Mineral Wax
Synthetic Wax
Natural Wax
Other Types

By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)

Candles
Packaging
Emulsions
Hot Melts
Floor Polishes
Other Applications

By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)

China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific

Chapter 1. Market Scope & Methodology

1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
- 1.4.1 Asia Pacific Wax Market, by Type
- 1.4.2 Asia Pacific Wax Market, by Application
- 1.4.3 Asia Pacific Wax Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance

2.1 Key Highlights

Chapter 3. Market Overview

3.1 Introduction
- 3.1.1 Overview
  - 3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
3.3 Porter Five Forces Analysis

Chapter 4. Asia Pacific Wax Market by Type

4.1 Asia Pacific Paraffin/Mineral Wax Market by Country
4.2 Asia Pacific Synthetic Wax Market by Country
4.3 Asia Pacific Natural Wax Market by Country
4.4 Asia Pacific Other Types Market by Country

Chapter 5. Asia Pacific Wax Market by Application

5.1 Asia Pacific Candles Market by Country
5.2 Asia Pacific Packaging Market by Country
5.3 Asia Pacific Emulsions Market by Country
5.4 Asia Pacific Hot Melts Market by Country
5.5 Asia Pacific Floor Polishes Market by Country
5.6 Asia Pacific Other Applications Market by Country

Chapter 6. Asia Pacific Wax Market by Country

6.1 China Wax Market
- 6.1.1 China Wax Market by Type
- 6.1.2 China Wax Market by Application
6.2 Japan Wax Market
- 6.2.1 Japan Wax Market by Type
- 6.2.2 Japan Wax Market by Application
6.3 India Wax Market
- 6.3.1 India Wax Market by Type
- 6.3.2 India Wax Market by Application
6.4 South Korea Wax Market
- 6.4.1 South Korea Wax Market by Type
- 6.4.2 South Korea Wax Market by Application
6.5 Singapore Wax Market
- 6.5.1 Singapore Wax Market by Type
- 6.5.2 Singapore Wax Market by Application
6.6 Malaysia Wax Market
- 6.6.1 Malaysia Wax Market by Type
- 6.6.2 Malaysia Wax Market by Application
6.7 Rest of Asia Pacific Wax Market
- 6.7.1 Rest of Asia Pacific Wax Market by Type
- 6.7.2 Rest of Asia Pacific Wax Market by Application

Chapter 7. Company Profiles

7.1 Exxon Mobil Corporation
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Segmental and Regional Analysis
- 7.1.4 Research & Development Expenses
- 7.1.5 SWOT Analysis
7.2 Solvay SA
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental Analysis
- 7.2.4 Research & Development Expenses
- 7.2.5 SWOT Analysis
7.3 BASF SE
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental and Regional Analysis
- 7.3.4 Research & Development Expense
- 7.3.5 SWOT Analysis
7.4 The Dow Chemical Company
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Segmental and Regional Analysis
- 7.4.4 Research & Development Expenses
- 7.4.5 SWOT Analysis
7.5 Sasol Limited
- 7.5.1 Company Overview
- 7.5.2 Financial Analysis
- 7.5.3 Segmental and Regional Analysis
- 7.5.4 Research & Development Expenses
- 7.5.5 SWOT Analysis
7.6 Shell plc
- 7.6.1 Company Overview
- 7.6.2 Financial Analysis
- 7.6.3 Segmental and Regional Analysis
- 7.6.4 Research & Development Expenses
- 7.6.5 SWOT Analysis
7.7 Evonik Industries AG (RAG-Stiftung)
- 7.7.1 Company Overview
- 7.7.2 Financial Analysis
- 7.7.3 Segmental and Regional Analysis
- 7.7.4 Research & Development Expenses
- 7.7.5 SWOT Analysis
7.8 Akzo Nobel N.V.
- 7.8.1 Company Overview
- 7.8.2 Financial Analysis
- 7.8.3 Segmental and Regional Analysis
- 7.8.4 SWOT Analysis
7.9 Kraton Corporation
- 7.9.1 Company Overview
- 7.9.2 SWOT Analysis
7.10. Honeywell International, Inc.
- 7.10.1 Company Overview
- 7.10.2 Financial Analysis
- 7.10.3 Segmental and Regional Analysis
- 7.10.4 Research & Development Expenses
- 7.10.5 SWOT Analysis

LIST OF TABLES

TABLE 1 Asia Pacific Wax Market, 2020 - 2023, USD Million
TABLE 2 Asia Pacific Wax Market, 2024 - 2031, USD Million
TABLE 3 Asia Pacific Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 4 Asia Pacific Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 5 Asia Pacific Wax Market by Type, 2020 - 2023, USD Million
TABLE 6 Asia Pacific Wax Market by Type, 2024 - 2031, USD Million
TABLE 7 Asia Pacific Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 8 Asia Pacific Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 9 Asia Pacific Paraffin/Mineral Wax Market by Country, 2020 - 2023, USD Million
TABLE 10 Asia Pacific Paraffin/Mineral Wax Market by Country, 2024 - 2031, USD Million
TABLE 11 Asia Pacific Paraffin/Mineral Wax Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 12 Asia Pacific Paraffin/Mineral Wax Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 13 Asia Pacific Synthetic Wax Market by Country, 2020 - 2023, USD Million
TABLE 14 Asia Pacific Synthetic Wax Market by Country, 2024 - 2031, USD Million
TABLE 15 Asia Pacific Synthetic Wax Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 16 Asia Pacific Synthetic Wax Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 17 Asia Pacific Natural Wax Market by Country, 2020 - 2023, USD Million
TABLE 18 Asia Pacific Natural Wax Market by Country, 2024 - 2031, USD Million
TABLE 19 Asia Pacific Natural Wax Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 20 Asia Pacific Natural Wax Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 21 Asia Pacific Other Types Market by Country, 2020 - 2023, USD Million
TABLE 22 Asia Pacific Other Types Market by Country, 2024 - 2031, USD Million
TABLE 23 Asia Pacific Other Types Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 24 Asia Pacific Other Types Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 25 Asia Pacific Wax Market by Application, 2020 - 2023, USD Million
TABLE 26 Asia Pacific Wax Market by Application, 2024 - 2031, USD Million
TABLE 27 Asia Pacific Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 28 Asia Pacific Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 29 Asia Pacific Candles Market by Country, 2020 - 2023, USD Million
TABLE 30 Asia Pacific Candles Market by Country, 2024 - 2031, USD Million
TABLE 31 Asia Pacific Candles Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 32 Asia Pacific Candles Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 33 Asia Pacific Packaging Market by Country, 2020 - 2023, USD Million
TABLE 34 Asia Pacific Packaging Market by Country, 2024 - 2031, USD Million
TABLE 35 Asia Pacific Packaging Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 36 Asia Pacific Packaging Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 37 Asia Pacific Emulsions Market by Country, 2020 - 2023, USD Million
TABLE 38 Asia Pacific Emulsions Market by Country, 2024 - 2031, USD Million
TABLE 39 Asia Pacific Emulsions Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 40 Asia Pacific Emulsions Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 41 Asia Pacific Hot Melts Market by Country, 2020 - 2023, USD Million
TABLE 42 Asia Pacific Hot Melts Market by Country, 2024 - 2031, USD Million
TABLE 43 Asia Pacific Hot Melts Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 44 Asia Pacific Hot Melts Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 45 Asia Pacific Floor Polishes Market by Country, 2020 - 2023, USD Million
TABLE 46 Asia Pacific Floor Polishes Market by Country, 2024 - 2031, USD Million
TABLE 47 Asia Pacific Floor Polishes Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 48 Asia Pacific Floor Polishes Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 49 Asia Pacific Other Applications Market by Country, 2020 - 2023, USD Million
TABLE 50 Asia Pacific Other Applications Market by Country, 2024 - 2031, USD Million
TABLE 51 Asia Pacific Other Applications Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 52 Asia Pacific Other Applications Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 53 Asia Pacific Wax Market by Country, 2020 - 2023, USD Million
TABLE 54 Asia Pacific Wax Market by Country, 2024 - 2031, USD Million
TABLE 55 Asia Pacific Wax Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 56 Asia Pacific Wax Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 57 China Wax Market, 2020 - 2023, USD Million
TABLE 58 China Wax Market, 2024 - 2031, USD Million
TABLE 59 China Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 60 China Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 61 China Wax Market by Type, 2020 - 2023, USD Million
TABLE 62 China Wax Market by Type, 2024 - 2031, USD Million
TABLE 63 China Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 64 China Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 65 China Wax Market by Application, 2020 - 2023, USD Million
TABLE 66 China Wax Market by Application, 2024 - 2031, USD Million
TABLE 67 China Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 68 China Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 69 Japan Wax Market, 2020 - 2023, USD Million
TABLE 70 Japan Wax Market, 2024 - 2031, USD Million
TABLE 71 Japan Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 72 Japan Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 73 Japan Wax Market by Type, 2020 - 2023, USD Million
TABLE 74 Japan Wax Market by Type, 2024 - 2031, USD Million
TABLE 75 Japan Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 76 Japan Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 77 Japan Wax Market by Application, 2020 - 2023, USD Million
TABLE 78 Japan Wax Market by Application, 2024 - 2031, USD Million
TABLE 79 Japan Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 80 Japan Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 81 India Wax Market, 2020 - 2023, USD Million
TABLE 82 India Wax Market, 2024 - 2031, USD Million
TABLE 83 India Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 84 India Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 85 India Wax Market by Type, 2020 - 2023, USD Million
TABLE 86 India Wax Market by Type, 2024 - 2031, USD Million
TABLE 87 India Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 88 India Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 89 India Wax Market by Application, 2020 - 2023, USD Million
TABLE 90 India Wax Market by Application, 2024 - 2031, USD Million
TABLE 91 India Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 92 India Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 93 South Korea Wax Market, 2020 - 2023, USD Million
TABLE 94 South Korea Wax Market, 2024 - 2031, USD Million
TABLE 95 South Korea Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 96 South Korea Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 97 South Korea Wax Market by Type, 2020 - 2023, USD Million
TABLE 98 South Korea Wax Market by Type, 2024 - 2031, USD Million
TABLE 99 South Korea Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 100 South Korea Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 101 South Korea Wax Market by Application, 2020 - 2023, USD Million
TABLE 102 South Korea Wax Market by Application, 2024 - 2031, USD Million
TABLE 103 South Korea Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 104 South Korea Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 105 Singapore Wax Market, 2020 - 2023, USD Million
TABLE 106 Singapore Wax Market, 2024 - 2031, USD Million
TABLE 107 Singapore Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 108 Singapore Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 109 Singapore Wax Market by Type, 2020 - 2023, USD Million
TABLE 110 Singapore Wax Market by Type, 2024 - 2031, USD Million
TABLE 111 Singapore Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 112 Singapore Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 113 Singapore Wax Market by Application, 2020 - 2023, USD Million
TABLE 114 Singapore Wax Market by Application, 2024 - 2031, USD Million
TABLE 115 Singapore Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 116 Singapore Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 117 Malaysia Wax Market, 2020 - 2023, USD Million
TABLE 118 Malaysia Wax Market, 2024 - 2031, USD Million
TABLE 119 Malaysia Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 120 Malaysia Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 121 Malaysia Wax Market by Type, 2020 - 2023, USD Million
TABLE 122 Malaysia Wax Market by Type, 2024 - 2031, USD Million
TABLE 123 Malaysia Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 124 Malaysia Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 125 Malaysia Wax Market by Application, 2020 - 2023, USD Million
TABLE 126 Malaysia Wax Market by Application, 2024 - 2031, USD Million
TABLE 127 Malaysia Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 128 Malaysia Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 129 Rest of Asia Pacific Wax Market, 2020 - 2023, USD Million
TABLE 130 Rest of Asia Pacific Wax Market, 2024 - 2031, USD Million
TABLE 131 Rest of Asia Pacific Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 132 Rest of Asia Pacific Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 133 Rest of Asia Pacific Wax Market by Type, 2020 - 2023, USD Million
TABLE 134 Rest of Asia Pacific Wax Market by Type, 2024 - 2031, USD Million
TABLE 135 Rest of Asia Pacific Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 136 Rest of Asia Pacific Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 137 Rest of Asia Pacific Wax Market by Application, 2020 - 2023, USD Million
TABLE 138 Rest of Asia Pacific Wax Market by Application, 2024 - 2031, USD Million
TABLE 139 Rest of Asia Pacific Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 140 Rest of Asia Pacific Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 141 Key Information - Exxon Mobil Corporation
TABLE 142 Key Information - Solvay SA
TABLE 143 Key Information - BASF SE
TABLE 144 Key Information - The Dow Chemical Company
TABLE 145 Key Information - Sasol Limited
TABLE 146 Key Information - Shell plc
TABLE 147 Key Information - Evonik Industries AG
TABLE 148 Key information - Akzo Nobel N.V.
TABLE 149 Key Information - Kraton Corporation
TABLE 150 Key Information - Honeywell International, Inc.

Asia Pacific Wax Market Size, Share & Trends Analysis Report By Type (Paraffin/Mineral Wax, Synthetic Wax, Natural Wax, and Other Types), By Application, By Country and Growth Forecast, 2024 - 2031