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Industrial Wax Market: Introduction

  • Industrial wax is a type of organic substance that is usually solid at room temperature and liquid at slightly high temperature. Therefore, it is used in the manufacture process of candles, additives, packaging products, cosmetics, rubber, adhesives, and home care products.
  • Demand for industrial wax is increasing at a rapid pace across the globe

Key Drivers and Restraints of Industrial Wax Market

  • According to a study, the packaging sector is expected to be the one of the largest consumers of industrial wax. Industrial wax provides good lubrication and water resistance properties. Hence, industrial wax is widely used in the food packaging sector. Additionally, wax coating provides durability to packaging during transit and handling. Therefore, the global industrial wax market is anticipated to expand at a substantial pace during the forecast period.
  • Wax coated paper offers adept and cost-effective wrapping solutions to protect goods from moisture, humidity, and greasing. Some industries such as cosmetics are entering into partnership with leaders in the market. Such strategic collaborations are likely to boost the demand for wax such as bio-based wax, synthetic wax, and petroleum wax. This is expected to drive the global industrial wax market during the forecast period.
  • Increase in population and rise in consumption of food products are some of the factors that are estimated to boost the global industrial wax market. Increase in consumption of home décor products such as scented candles, automotive, electronics, and cosmetic and personal care products due to rise in disposable income of consumers is projected to propel the demand for industrial wax. Hence, the global industrial wax is likely to expand significantly during the forecast period.
  • Expansion of the refinery market is also expected to augment the demand for industrial wax to meet the ever-growing demand from consumers

Industrial Wax Market: Segments

  • The industrial wax market can be segmented based on type, application, and region
  • Based on type, the global industrial wax market can be divided into synthetic wax, fossil-based wax, and bio-based wax
  • Based on application, the global industrial wax market can be segregated into packaging, candles, coating & polishes, hot-melt additives, cosmetics & personal care, tire & rubber, and food

COVID-19 Impact on Industrial Wax Market

  • Emergence of the new COVID strain in many developed and developing countries has adversely affected the health care infrastructure. Hospital staff, medicines, oxygen beds, and ventilators are in short supply. Supply chains are facing disruptions, leading to disturbances in production activities in many countries. This is adversely affecting the global industrial wax market.
  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.

Asia Pacific to Dominate Industrial Wax Market

  • In terms of geography, the global industrial wax market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
  • Asia Pacific is expected to emerge as a dominant region of the global industrial wax market during the forecast period. China is projected to account for large share of the market in the region due to high consumption of coatings, packaging, and candles in the country. After China, India is expected to be fast-growing market for industrial wax.
  • Demand for industrial wax in the U.S. is anticipated to increase in the near future owing to the rise in research activities in industrial wax and its manufacturing practices
  • North America and Europe are also expected to account for vital share of the global industrial wax market during the forecast period

Key Manufacturers Operating in Global Industrial Wax

  • Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global industrial wax market include:
    • ExxonMobil
    • Royal Dutch Shell PLC
    • Sinopec
    • Sasol Ltd
    • CEPSA
    • Hollyfrontier Corporation
    • Calumet Specialty Products Partners
    • Gandhar Oil refinery
    • Numaligarh Refinery Limited
    • Petróleo Brasileiro
    • The PJSC Lukoil Oil Company (Russia)

Global Industrial Wax Market: Research Scope

Global Industrial Wax Market, by Type

  • Synthetic Wax
  • Fossil-based Wax
  • Bio-based Wax

Global Industrial Wax Market, by Application

  • Packaging
  • Candles
  • Coating & Polishes
  • Hot-melt Additives
  • Cosmetics & Personal Care
  • Tire & Rubber
  • Food

Global Industrial Wax Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Industrial Wax Market