Market Research Reports

Wax (Petroleum & Mineral Wax, Synthetic Wax, and Natural Wax) Market for Candles, Packaging, Wood & Fire-logs, Rubber, Adhesive, Cosmetics and Other End-user Industries - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

114pages
Published Date: 2015-01-21

Description



Wax is a class of organic compound that is malleable at ambient temperature, and upon melting turns into a low viscosity fluid. The chemical nature of wax is complex; however normal alkanes with a wide range of molecular weight contribute to the composition to a large extent. Wax offers resistance to air and water. This opens up applications in various industries such as packaging, cosmetics, and adhesive. Rising base of end-user industries is likely to drive the global wax market during the forecast period. However, shortfall in the supply of wax is anticipated to hamper market growth.

This report covers historic analysis and forecast for the wax market on a global and regional level. The study provides analysis and forecast from 2014 to 2020 based on both volume (Kilo Tons) and revenue (US$ Mn). 

The study includes drivers and restraints of the wax market, along with their impact on demand during the forecast period. Additionally, the report comprises the study of opportunities in the wax market on the global and regional level. The report includes a thorough analysis of the value chain in order to provide detailed understanding of the market. It comprises Porter’s Five Forces model, which provides an insight into the intensity of competition in the market. Furthermore, the study covers market attractiveness analysis, wherein various end-users are benchmarked based on market size, growth rate and general attractiveness. 

The study provides a decisive view of the wax market by bifurcating it into product segments such as petroleum & mineral wax, synthetic wax and natural wax. Petroleum and mineral wax product segment is further sub-segmented into paraffin wax, microcrystalline wax and others (including semi-crystalline wax and petroleum jelly). Synthetic segment is further bifurcated into gas-to-liquids (GTL) wax, polymer wax and others (such as montan wax). Natural wax product segment comprises beeswax, vegetable wax and others (including Japan wax and rice bran wax). The report also provides segmentation of the global wax market by end-user industries. End-user segments have been analyzed based on historic, present and future trends, and the market has been estimated from 2014 to 2020 in terms of volume (Kilo Tons) and revenue (US$ Mn). End-user industry segments include candles, packaging, wood & fire-logs, rubber, adhesive cosmetics and others.

Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. This segmentation includes demand for individual product segments and end-user industries in all the regions. Market has been analyzed based on demand, and forecast trends are based on current trends for the period of six years.

Secondary research sources that were typically referred to include, but were not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings. Other sources such as internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases and market reports, news articles, press releases, and webcasts specific to companies operating in the market have also been referred for the report.

We conducted primary interviews with industry participants and commentators in order to validate data and analysis. A typical research interview fulfilled functions such as providing first-hand information on market size, market trends, supply trends, demand estimations, growth trends, competitive landscape and outlook. This helped in validating and strengthening the secondary research findings. Primary research further developed the analysis team’s expertise and market understanding.

Profiles of leading companies have been provided in the report along with detailed analysis of their market share. The study features profiles of companies such as China National Petroleum Corporation (CNPC), The International Group, Inc. (IGI), Exxon Mobil Corporation, Sasol Wax, Sinopec Limited and Royal Dutch Shell plc, Lukoil, Total Petrochemicals & Refining USA, Inc., and Petróleos de Venezuela, SA.

This report segments the global wax market 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

Table of Contents



Chapter 1 Preface
1.1 Research Description
1.2 Market Segmentation
     1.2.1 Global Wax Market Segmentation, By Product, End-User Industries And Region
1.3 Research Scope
     1.3.1 Assumptions
1.4 Research Methodology

Chapter 2 Executive Summary
2.1 Global Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)

Chapter 3 Wax – Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis
3.3 Market Drivers
     3.3.1 Rising Base Of End-User Industries Is Driving Global Wax Market
             3.3.1.1 Global Packaging Market Revenue, 2013 – 2020 (US$ Bn)
             3.3.1.2 Global Cosmetics Market Revenue, 2013 – 2020 (US$ Bn)
3.4 Restraints
     3.4.1 Closure Of Group I Base Oil Refineries Inhibits The Global Wax Market Growth
3.5 Opportunity
     3.5.1 Gas-to-liquids (GTL) Waxes
             3.5.1.1 Global GTL Products Market Revenue, 2013 – 2020 (US$ Bn)
3.6 Porter’s Five Forces Analysis
     3.6.1 Bargaining Power Of Suppliers
     3.6.2 Bargaining Power Of Buyers
     3.6.3 Threat Of New Entrants
     3.6.4 Threat From Substitutes
     3.6.5 Degree Of Competition
3.7 Company Market Share Analysis
     3.7.1 Wax Market: Company Market Share Analysis, 2013
3.8 Wax market: Market Attractiveness Analysis, By End-User Industries
     3.8.1 Wax market: Market Attractiveness Analysis, By End-User Industries

Chapter 4 Wax Market – Product Segment Analysis
4.1 Global Wax Market: Product Segment Overview
     4.1.1 Global Wax Market Volume Share, By Product Segment, 2013 & 2020
4.2 Petroleum And Mineral Wax
     4.2.1 Global Petroleum And Mineral Wax Market, 2013 – 2020 (Kilo Tons )(US$ Mn)
     4.2.2 Paraffin Wax
             4.2.2.1 Global Paraffin Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)
     4.2.3 Microcrystalline Wax
             4.2.3.1 Global Microcrystalline Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)
     4.2.4 Other Petroleum And Mineral Wax
             4.2.4.1 Global Other Petroleum And Mineral Wax Market, 2013 – 2020 (Kilo Tons )(US$ Mn)
4.3 Synthetic Wax
     4.3.1 Global Synthetic Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)
     4.3.2 GTL Wax
             4.3.2.1 Global GTL Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)
     4.3.3 Polymer Wax
             4.3.3.1 Global Polymer Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)
     4.3.4 Other Synthetic Wax
             4.3.4.1 Global Other Synthetic Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)
4.4 Natural Wax
     4.4.1 Global Natural Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)
     4.4.2 Beeswax
             4.4.2.1 Global Beeswax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
     4.4.3 Vegetable Wax
             4.4.3.1 Global Vegetable Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)
     4.4.4 Other Natural Wax
             4.4.4.1 Global Other Natural Wax Market, 2013 – 2020 (Kilo Tons)(US$ Mn)

Chapter 5 Wax Market – End-user Industries Analysis
5.1 Global Wax Market: End-user Industries Overview
     5.1.1 Global Wax Market Volume Share, By End-user Industries, 2013 & 2020
5.2 Candles
     5.2.1 Global Wax Market For Candles, 2013 – 2020 (Kilo Tons) (US$ Mn)
5.3 Packaging
     5.3.1 Global Wax Market For Packaging, 2013 – 2020 (Kilo Tons) (US$ Mn)
5.4 Wood & Fire-logs
     5.4.1 Global Wax Market For Wood & Fire-logs, 2013 – 2020 (Kilo Tons) (US$ Mn)
5.5 Rubber
     5.5.1 Global Wax Market For Rubber, 2013 – 2020 (Kilo Tons) (US$ Mn)
5.6 Adhesive
     5.6.1 Global Wax Market For Adhesive, 2013 – 2020 (Kilo Tons) (US$ Mn)
5.7 Cosmetics
     5.7.1 Global Wax Market For Cosmetics, 2013 – 2020 (Kilo Tons) (US$ Mn)
5.8 Other End-user Industries
     5.8.1 Global Wax Market For Other End-user Industries, 2013 – 2020 (Kilo Tons) (US$ Mn)

Chapter 6 Global Wax Market – Regional Analysis
6.1 Global Wax Market: Regional Overview
     6.1.1 Global Wax Market Volume Share, By Region, 2013 & 2020
6.2 North America
     6.2.1 North America Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.2.2 North America Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.2.3 North America Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.2.4 North America Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.2.5 North America Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.2.6 North America Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.2.7 North America Wax Market Volume, By End-User Industries, 2013 - 2020 (Kilo Tons)
     6.2.8 North America Wax Market Revenue, By End-User Industries, 2013 - 2020 (US$ Mn)
6.3 Europe
     6.3.1 Europe Petroleum And Mineral Wax Market Volume, By Product Segments, 2013 - 2020 (Kilo Tons)
     6.3.2 Europe Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.3.3 Europe Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.3.4 Europe Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.3.5 Europe Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.3.6 Europe Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.3.7 Europe Wax Market Volume, By End-User Industries, 2013 - 2020 (Kilo Tons)
     6.3.8 Europe Wax Market Revenue, By End-User Industries, 2013 - 2020 (US$ Mn)
6.4 Asia Pacific
     6.4.1 Asia Pacific Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.4.2 Asia Pacific Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.4.3 Asia Pacific Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.4.4 Asia Pacific Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.4.5 Asia Pacific Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.4.6 Asia Pacific Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.4.7 Asia Pacific Wax Market Volume, By End-user Industries, 2013 - 2020 (Kilo Tons)
     6.4.8 Asia Pacific Market Revenue, By End-user Industries, 2013 - 2020 (US$ Mn)
6.5 Central and South America (CASA)
     6.5.1 CASA Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.5.2 CASA Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.5.3 CASA Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.5.4 CASA Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.5.5 CASA Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.5.6 CASA Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.5.7 CASA Wax Market Volume, By End-User Industries, 2013 - 2020 (Kilo Tons)
     6.5.8 CASA Wax Market Revenue, By End-User Industries, 2013 - 2020 (US$ Mn)
6.6 Middle East And Africa (MEA)
     6.6.1 MEA Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.6.2 MEA Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.6.3 MEA Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.6.4 MEA Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
     6.6.5 MEA Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
     6.6.7 MEA Wax Market Volume, By End-User Industries, 2013 - 2020 (Kilo Tons)
     6.6.8 MEA Wax Market Revenue, By End-User Industries, 2013 - 2020 (US$ Mn)

Chapter 7 Company Profiles
7.1 China National Petroleum Corporation
7.2 Sasol Wax
7.3 International Group, Inc (IGI)
7.4 Lukoil Company
7.5 Petroleo Brasileiro S.A. (Petrobras)
7.6 Royal Dutch Shell plc
7.7 Exxon Mobil Corporation
7.8 Total S.A.
7.9 Petro-Canada Lubricants Inc.
7.10 Petróleos de Venezuela, S.A. (PDVSA)
7.11 Sinopec Limited

List of Figures 

FIG. 1 Global Wax Market Segmentation, By Product, End-user Industries And Region
FIG. 2 Global Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 3 Wax Market: Value Chain Analysis
FIG. 4 Global Packaging Market Revenue, 2013 – 2020 (US$ Bn)
FIG. 5 Global Cosmetics Market Revenue, 2013 – 2020 (US$ Bn)
FIG. 6 Global Base Oil Demand, 2013 – 2020 And 2030 (Volume % Share)
FIG. 7 Global GTL Products Market Revenue, 2013 – 2020 (US$ Bn)
FIG. 8 Porter’s Five Forces Analysis
FIG. 9 Wax Market: Company Market Share Analysis, 2013
FIG. 10 Wax Market: Market Attractiveness Analysis, By End-User Industries
FIG. 11 Global Wax Market Volume Share, By Product Segment, 2013 & 2020
FIG. 12 Global Petroleum And Mineral Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 13 Global Paraffin Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 14 Global Microcrystalline Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 15 Global Other Petroleum And Mineral Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 16 Global Synthetic Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 17 Global GTL Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 18 Global Polymer Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 19 Global Other Synthetic Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 20 Global Natural Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 21 Global Beeswax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 22 Global Vegetable Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 23 Global Other Natural Wax Market, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 24 Global Wax Market Volume Share, By End-user Industries, 2013 & 2020
FIG. 25 Global Wax Market For Candles, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 26 Global Wax Market For Packaging, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 27 Global Wax Market For Wood & Fire-logs, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 28 Global Wax Market For Rubber, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 29 Global Wax Market For Adhesive, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 30 Global Wax Market For Cosmetics, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 31 Global Wax Market For Other End-user Industries, 2013 – 2020 (Kilo Tons) (US$ Mn)
FIG. 32 Global Wax Market Volume Share, By Region, 2013 & 2020

List of Tables

TABLE 1 Global Wax Market Snapshot
TABLE 2 Drivers for the Wax Market: Impact Analysis
TABLE 3 Restraints For Wax Market: Impact Analysis
TABLE 4 North America Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 5 North America Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 6 North America Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 7 North America Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 8 North America Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 9 North America Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 10 North America Wax Market Volume, By End-user Industries, 2013 - 2020 (Kilo Tons)
TABLE 11 North America Wax Market Revenue, By End-User Industries, 2013 - 2020 (US$ Mn)
TABLE 12 Europe Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 13 Europe Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 14 Europe Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 15 Europe Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 16 Europe Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 17 Europe Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 18 Europe Wax Market Volume, By End-User Industries, 2013 - 2020 (Kilo Tons)
TABLE 19 Europe Wax Market Revenue, By End-User Industries, 2013 - 2020 (US$ Mn)
TABLE 20 Asia Pacific Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 21 Asia Pacific Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 22 Asia Pacific Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 23 Asia Pacific Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 24 Asia Pacific Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 25 Asia Pacific Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 26 Asia Pacific Wax Market Volume, By End-user Industries, 2013 - 2020 (Kilo Tons)
TABLE 27 Asia Pacific Market Revenue, By End-user Industries, 2013 - 2020 (US$ Mn)
TABLE 28 CASA Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 29 CASA Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 30 CASA Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 31 CASA Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 32 CASA Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 33 CASA Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 34 CASA Wax  Market Volume, By End-User Industries, 2013 - 2020 (Kilo Tons)
TABLE 35 CASA Wax Market Revenue, By End-User Industries, 2013 - 2020 (US$ Mn)
TABLE 36 MEA Petroleum And Mineral Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 37 MEA Petroleum And Mineral Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 38 MEA Synthetic Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 39 MEA Synthetic Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 40 MEA Natural Wax Market Volume, By Product Segment, 2013 - 2020 (Kilo Tons)
TABLE 41 MEA Natural Wax Market Revenue, By Product Segment, 2013 - 2020 (US$ Mn)
TABLE 42 MEA Wax  Market Volume, By End-User Industries, 2013 - 2020 (Kilo Tons)
TABLE 43 MEA Wax Market Revenue, By End-User Industries, 2013 - 2020 (US$ Mn)

Free Market Analysis


Waxes are organic compounds primarily comprising long and linear alkyl chains. These alkyl chains are characterized by specific crystal structure. Crystal structure of wax can be altered by adding branching to the linear alkyl chain. Change in crystal structure alters physical properties of the wax. This offers flexibility to wax manufacturers and wax blenders to customize wax products according to end-user requirements. Wax is generally malleable at room temperature; upon heating, it melts into a low viscosity fluid. Wax is insoluble in water and soluble in non-polar organic solvents. Petroleum & mineral, synthetic and natural wax exhibit differ in chemical composition. Therefore, there is difference in their crystal structure as well. 

Rising base of end-users is expected to drive the global wax market in the near future. Cosmetics, packaging, and candles are the fastest-growing end-user industries for the global wax market. However, closure of Group I base oil refineries is anticipated to hamper market growth in the near future. Upcoming gas-to-liquids refineries across the globe are projected to offer high opportunities for market players in the next few years. Increasing gap between supply and demand dynamics is likely to be an important opportunity for investors during the forecast period. 

Product segments of wax include petroleum & mineral, synthetic and natural. In terms of volume, petroleum & mineral wax was the largest segment in the global wax market in 2013. However, it is estimated to grow at the lowest rate as compared to synthetic and natural wax segments during the forecast period. Petroleum & mineral wax can be further sub-segmented into paraffin, microcrystalline and others. Synthetic wax accounted for approximately 11% of the market share in 2013. It is however expected to be the fastest growing segment in the global wax market during the forecast period. Synthetic wax product segment has been bifurcated into gas-to-liquids (GTL) wax, polymer wax and others. Natural wax, on the other hand, is primarily obtained from beeswax and can also be derived from vegetable oils. 

In terms of volume, candles emerged as the largest end-user industry segment of the global wax market in 2013. The segment accounted for over 41% share in 2013. Candles segment is anticipated to remain the largest application in the near future. Increasing usage of scented and decorative luxury candles across the globe is driving demand for wax in this end-user industry segment. Cosmetics and packaging are estimated to be the fastest growing end-user industry segments in the global wax market during the forecast period. Wax is widely used as base material in various cosmetic formulations; hence, it forms an important constituent of such products. Wax acts as a medium of delivery of active ingredients with consistent regulating functions. It also possesses skincare properties. These help in retaining moisture by reducing dehydration.

Asia Pacific dominated the wax market in terms of volume and revenue in 2013. The region has been experiencing high demand for wax in candles, packaging, adhesive and cosmetics industries. Asia Pacific is considered a manufacturing hub for major manufacturing industries across the globe; China is the center of the hub. Demand for wax in North America and Europe is anticipated to increase at a sluggish rate. Wax is widely used in the manufacture of candles in these regions. Demand for wax changes according to festival seasons. Demand for wax in Central & South America and Middle East & Africa is projected to rise at a moderate rate in the next few years. 

The global wax market is highly consolidated in nature. Some multinational companies exhibit a high degree of forward integration and develop customized wax products by blending the crystal structure of wax. Key players in the wax market include China National Petroleum Corporation (CNPC), The International Group, Inc. (IGI), Exxon Mobil Corporation, Sasol Wax, Sinopec Limited and Royal Dutch Shell plc, Lukoil, Total Petrochemicals & Refining USA, Inc., and Petróleos de Venezuela, SA.

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