The
global wax
market was valued at $7,939.6 million in 2014, and it is
expected to grow with a CAGR of 3.5% during 2015 - 2020. The factors driving
the growth of the global market include growing base of end-user industries and
increasing demand of natural waxes. Waxes have applications in several industries
ranging from ink and coatings to packaging, paints to textile, electrical and
electronics to rubber, and cosmetics and pharmaceuticals to food. Despite
sluggish growth in the paraffin wax production, the demand for waxes in several
industries is increasing. The growing base of end-user industries is creating
demand for huge production of waxes, especially the natural and synthetic
waxes. Waxes are used as processing aids, or as additives or base materials for
improving the product quality. All these functions have significant effect on
the properties of finished goods, such as surface protection in ceramics and
metals, surface gloss in cardboard and paper, corrosion inhibitor in metal
works, water repellent in textiles, and insulator in electric and electronics.
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“Global Wax Market” at: https://www.psmarketresearch.com/market-analysis/wax-market
The
information and data in the publication “Global
Wax Market Size, Share, Development, Growth and Demand Forecast to 2020”,
represents the research and analysis of data from various primary and secondary
sources. A top down approach has been used to calculate the market size. P&S
Market Research analysts and consultants interacted with leading companies of
the concerned domain to substantiate every value of data presented in this
report. The company bases its primary research on discussions with prominent
professionals and analysts in the industry, which is followed by informed and
detailed, online and offline research.
In
2014, the Asia-Pacific market held the largest share in the global market, in
terms of value and volume. The major reasons behind the growth of the wax
market in the region are presence of large number of wax producers in the
region and growing base of end-user industries. Asia-Pacific is also anticipated to witness the fastest growth with a
CAGR of 4.6% in terms of value, during the forecast period. However,
the European market is witnessing sluggish growth, owing to the shutdown of Group
I base oil refineries in the region. China is the largest supplier of waxes, especially petroleum based
waxes, across the globe. A major portion of wax production from China is
supplied to the U.S. and the European countries.
During 2015-2020, the
health industries application segment is expected to witness the fastest
growth, a CAGR of 5.1%, within the global wax market in terms of value.
Some
of the major players operating in the global wax market are China National
Petroleum Corporation, Exxon Mobil Corporation, Royal Dutch Shell PLC, Sasol
Limited, The Lubrizol Corporation, Petróleo Brasileiro S.A., Honeywell
International Inc., Akzo Nobel N.V., Evonik Industries AG, and Hexion Inc.
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GLOBAL WAX MARKET SEGMENTATION
By Application
·
Petroleum and
Mineral Wax
o Paraffin Wax
o Microcrystalline Wax
o Others
·
Synthetic Wax
o Polymer Wax
o GTL Wax
o Others
·
Natural Wax
o Vegetable Wax
o Animal and Insect Wax
By Application
- Candles
- Packaging
- Rheology/Surface
applications
- Board
Sizing
- Health
Industries
- Cosmetics
- Others
GEOGRAPHICAL
SEGMENTATION
By Region
- Asia-Pacific
- North
America
- Western
Europe
- Latin
America
- Middle
East and Africa
- Central
and Eastern Europe
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