A recent research report published by Transparency
Market Research projects the global wax market to expand at a CAGR of
2.6% during the period between 2014 and 2020. The report, titled “Wax
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2014 - 2020,” estimates the global wax market to be worth
US$8.98 bn by 2020. The overall market stood at a valuation of
US$8.21 bn in 2013 and at 4,539.9 kilo tons in terms of volume.
The report points out that the rising base of
end-use industries such as adhesives, rubber, cosmetics, packaging,
candles, and wood and fire-logs is driving the global wax market. The
growing demand from the packaging and cosmetics industries is
particularly contributing towards the growth of the market. However,
the closure of Group I base oil refineries will inhibit the growth of
the global wax market during the forecast horizon. The overall market
has a huge opportunity to grow with the introduction of gas-to-liquid
(GTL) waxes.
This 114 page report gives readers a
comprehensive overview of the Wax market. Browse Market Research
Report @
In terms of product types, the report segments the
global wax market into petroleum and mineral wax, synthetic wax, and
natural wax. Petroleum and mineral wax has been sub-segmented into
microcrystalline wax, paraffin wax, and other petroleum and mineral
waxes. Synthetic wax has been categorized into polymer wax, GTL wax,
and others. Natural wax has been segmented into vegetable wax, bee
wax, and other natural wax. In 2013, petroleum and mineral wax was
the largest product segment in the market. However, during the
forecast period, synthetic wax is expected to be the fastest growing
product type as it resembles petroleum to a large extent and can be
used as a substitute for petroleum wax across a number of
applications. Synthetic wax held a share of 11% in the market in
2013. In the coming years, the natural wax segment is expected to
register moderate growth.
In terms of end-use industries, the global wax
market has been categorized into packaging, candles, wood and
fire-logs, adhesive, rubber, cosmetics, and other end-use industries.
Candles held the largest share in the market in 2013 and accounted
for more than 41% of the market. The packaging and cosmetics
industries are driving the demand from the market.
The report studies the global wax market across
five key regions: Asia Pacific, Europe, North America, Middle East
and Africa, and Central and South America. Asia Pacific dominated the
overall market in 2013 as the region is the largest producer of
petroleum wax across the globe. While China leads the production of
petroleum wax, Malaysia contributes largely to the production of
natural wax.
Get accurate market forecast and analysis on
the Wax market. Request a sample to stay abreast on the key trends
impacting this market@
The report profiles some of the key players in the
global wax market such as The International Group, Inc. (IGI), China
National Petroleum Corporation (CNPC), Sasol Wax, Exxon Mobil
Corporation, Lukoil, Sinopec Limited and Royal Dutch Shell plc, Total
Petrochemicals & Refining USA Inc., and Petróleos de Venezuela
SA.
The global wax market has been segmented as
follows:
Wax Market - Product Segment Analysis
Petroleum and mineral wax
- Paraffin wax
- Microcrystalline wax
- Others (Including semi-crystalline wax, petroleum jelly, etc.)
Synthetic wax
- Gas-to-liquids (GTL) wax
- Polymer wax
- Others (Including Montan wax, etc.)
Natural wax
- Beeswax
- Vegetable wax
- Others (Including animal wax, Japan wax, rice bran wax, etc.)
Wax Market - End-user Industry Analysis
- Candles
- Packaging
- Wood & fire-logs
- Rubber
- Adhesive
- Cosmetics
- Others (Including crayons, laminates, inks, polishes, insulation, etc.)
Wax Market - Regional Analysis
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
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of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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