The global paraffin wax market size was US$ 5,123 million in 2021. The global paraffin wax market size is forecast to reach US$ 7,795 million by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.
Paraffin wax is a colorless, soft substance generated from coal, petroleum, or oil shale. The dewaxing process removes the wax from crude oil, yielding paraffin wax. Paraffin wax is reprocessed before being used in products. It is made up of hydrocarbon molecules with 20 to 40 carbon atoms. It is water-insoluble and soluble in benzene, ethers, and other ethers. Candles, packaging, the board size, rubber, hot melts, cosmetics, and other uses for paraffin wax are just a few examples. As the popularity of aromatherapy grows, so does the demand for paraffin wax.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to prevent the virus from spreading. This led to disturbance in supply chains. In addition, due to the low availability of raw materials and lack of labor cosmetic industries, fragrance industries, and many end-user industries had to shut down.
Regional Analysis
The Asia Pacific region accounted for a major share in 2021 and is forecast to have lucrative growth during the forecast period. As a result of the increasing personal care, rubber, packaging, and pharmaceutical industries in India, China, and South Korea. In addition, the rising demand for hot melt adhesives for packaging and furniture making, substantial investments, and the growing number of industry professionals. Additionally, increasing demand for fragrance and beauty products in Asia boosts the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global paraffin wax market are:
Scope of the Report
The global paraffin wax market segmentation focuses on Type, Application, and Region.
Segmentation based on Type
Segmentation based on Application
Segmentation based on Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL PARAFFIN WAX MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL PARAFFIN WAX MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL PARAFFIN WAX MARKET, BY TYPE
5.1 OVERVIEW
5.2 FULLY REFINED WAX
5.3 SEMI-REFINED WAX
5.4 OTHERS
6 GLOBAL PARAFFIN WAX MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 CANDLES
6.3 PACKAGING
6.4 BOARD SIZING
6.5 RUBBER
6.6 HOT MELTS
6.7 COSMETICS
6.8 OTHERS
7 GLOBAL PARAFFIN WAX MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL PARAFFIN WAX MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
9 COMPANY PROFILES
9.1 CNPC (SINOPEC)
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.2 SASOL CORP
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.3 ROYAL DUTCH SHELL PLC
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.4 VENEZUELA NATIONAL OIL COMPANY
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.5 EXXONMOBIL
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.6 PETRO CANADA LUBRICANTS
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.7 PETROBRAS
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.8 MARATHON OIL CORPORATION
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.9 BIG WEST OIL LLC
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.10 CEPSA COMPANY
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.11 NAFTOWAX
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.12 NIPPON SIERO CO.
9.12.1 OVERVIEW
9.12.2 FINANCIAL PERFORMANCE
9.12.3 PRODUCT OUTLOOK
9.12.4 KEY DEVELOPMENTS
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