By 2025, the global paraffin wax market revenue is estimated to reach USD 9.82 billion. Growing consumption of paraffin wax as a raw material in agriculture, food, rubber, electrical appliances, matches, fabric, and paper is expected to increase its market expansion over the projected period.A research report on the “Global Paraffin Wax Market Size 2017 By Application (Packaging, Candles, Hotmelts, Cosmetics, Rubber, Board Sizing, and Others), By Region and Forecast 2018 to 2025” has recently been published by Adroit Market Research.
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The study covers the global paraffin wax market trends and estimations in value (USD Million) and volume (Kilo Tons) for a period ranging from 2015 to 2025. The global paraffin wax market report also includes qualitative insights into the market such as drivers, restraints, and value chain. It also contains the global paraffin wax market share for its various applications. Additionally, we have provided a glimpse of the global petrochemical wax industry.
Growing application of paraffin wax in the food packaging industry to offer good insulation properties is expected to increase its market reach. Paraffin wax offers water barrier properties and excellent protection making it best suitable for cardboard coating and food industry. Ability to blend with different wax products, it emerged as an important raw material in candle manufacturing, and personal care & cosmetics. Global food packaging industry was accounted for more than USD 250 billion in 2017. Increased consumer preferences for packaged foods and rising concerns over health awareness is expected to provide a lucrative opportunity for paraffin wax manufacturers over the coming years.
By 2018, global demand for light commercial vehicles and passenger cars is expected to be more than 1.5 billion units. Growing consumption of paraffin for the production of tires by virtue of protection from cracking and chipping is expected to increase market concentration over the projected period.
Paraffin waxes are produced from petroleum products. Therefore, volatile raw material prices may affect the global paraffin wax market growth. In addition, environmental regulations for the production of petrochemicals is expected to be the key restraint for paraffin wax industry. Moreover, the adoption of environmentally friendly alternatives such as polyethylene wax, soy, and beeswax is expected to be the key challenge for global paraffin wax industry.
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Asia Pacific accounted for more than 30% of the global paraffin wax market share in 2017. Growing personal care & cosmetics industry in India, Japan, Indonesia, and South Korea is expected to increase paraffin wax market concentration over the coming years. Expansion of well-established cosmetics manufacturers in India and China is expected to drive the market over the projected period. In addition, growing economies in this region are increasing their production facilities in order to reduce import from other countries. For instance, in India, in March 2015, Numaligarh Refinery Ltd (NRL) has commissioned 50 kilo tons capacity wax plant. This plant is designed to manufacture superior quality semi-microcrystalline wax and paraffin wax.
Exxon Mobil Corporation, Sinopec Corp., PetroChina International Co., Ltd, Sasol, The International Group, Indian Oil Corporation Ltd, Petrobras, Nippon Seiro Co., Ltd., Repsol, and Cepsa are the leading players present within the global paraffin wax market. Manufacturers operating in this industry are adopting plant expansion strategy in order to cater untapped market and strengthen their distribution network. For instance, in February 2018, Sasol’s phase 2 Fischer-Tropsch Wax Expansion Plant started its Sasolburg operation. This expansion strategy is expected to expand Sasol’s chemical business in the South African market.
Key segments of the global paraffin wax market
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
- Candles
- Packaging
- Cosmetics
- Hotmelts
- Board Sizing
- Rubber
- Others
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
- North America
- S.
- Europe
- Germany
- Asia-Pacific
- China
- India
- Middle East & Africa
- Latin America
- Brazil
Some Points from Table of Content:
- Executive Summary
- Research Methodology
- Market Outlook
- Paraffin Wax Market Overview, By ApplicationGlobal paraffin wax market share, by application, 2017 & 2025 Candles
- Paraffin Wax Market Overview, By RegionGlobal paraffin wax market share, by region, 2017 & 2025North America
- Industry Structure
- Company ProfilesExxon Mobil Corporation
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The latest trending report Global Paraffin Wax Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Paraffin Wax market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 2.8% in the forecast period of 2020 to 2025 and will expected to reach USD 7083.5 million by 2025, from USD 6348.8 million in 2019.The Paraffin Wax market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/16993-paraffin-wax-market-analysis-reportMarket segmentationParaffin Wax market is split by Type and by Application.
For the period 2015-2025, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value.
This analysis can help you expand your business by targeting qualified niche markets.By Type, Paraffin Wax market has been segmented into Fully Refined Wax, Semi-refined Wax, Others (Food Grade, Ceresine Wax etc.
), etc.By Application, Paraffin Wax has been segmented into Candles, Food, Pyrotechnics, Fiberboard, Other industries, etc.Regions and Countries Level AnalysisThe report offers in-depth assessment of the growth and other aspects of the Paraffin Wax market in important countries (regions), including United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc.
It also throws light on the progress of key regional Paraffin Wax markets such as North America, Europe, Asia-Pacific, South America and Middle East & Africa.Competitive Landscape and Paraffin Wax Market Share AnalysisParaffin Wax competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, Paraffin Wax sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch.
The latest study report titled as Global Chlorinated Paraffin Wax market report is detailed analysis given by IMR Market Reports to offer a comprehensive study over the Chlorinated Paraffin Wax Market with the help of Dynamics, development drivers, challenges, opportunities, threats, limitations, etc.
The whole report is derived through sources such as annual reports, journals, and also through the businesses supported by the industry experts.
Along with analysis tools such as, NOISE Analysis, SWOT analysis, Internal analysis, SOAR analysis, Porter’s five force and etc that are mainly used for studying limitations and opportunities, other pictorial presentations such as charts, diagrams and pie graphs are also included for easy interpretation of data.
For Right Perspective & Competitive Insights, Request a Sample @: https://imrmarketreports.com/request/23319The Report also covers the Impact of Coronavirus COVID-19.
The disease has now spread to almost every country throughout the globe leading it to be called as a huge challenge by World Health Organisation, but at the same extent it has brought some opportunities for the market players competing in the Chlorinated Paraffin Wax market those opportunities are also mentioned in the report in extensive manner.
The statistical study of the report highly focuses on specifications, cost, capacity, marketing channels, and market players other important studies like BCG matrix, VIRO framework, Value chain analysis, porter diamond model, PESTEL analysis, etc are discussed on top phase.
