Global Wax Market: Snapshot 

Waxes discover their application crosswise over businesses, for example, materials, paints, bundling, hardware, electrical, inks and coatings, elastic, pharmaceuticals, sustenance, and beautifying agents. Along these lines, a development in these end client businesses likewise spells an elevated interest for wax. Since a greater part of the previously mentioned enterprises have been seeing a development in the ongoing years and this incorporates hardware, bundling, nourishment, makeup and pharmaceuticals, the market for wax is encountering a sound development. The generation of paraffin wax has diminished throughout the years, however this is adjusted by the higher creation of manufactured and characteristic waxes, which is boosting the development of the market around the world. 

Wax is utilized widely as added substances, base materials, and to help preparing. Since the significance of completed products such in metals, surface shine, and surface insurance in earthenware production is expanding, the utilization of wax will likewise build, driving the market. Wax likewise fills in as a consumption inhibitor in metal works, along these lines finding their application in assembling metal items. They repulse water and along these lines, discover their application in material businesses. In addition, they are utilized as protectors in hardware and electrical businesses. 

Candles to Remain Key Segment in Global Wax Market 

On the basis of application, the global wax market is segmented into In terms of product types, the report segments the global wax market into petroleum and mineral wax, synthetic wax, and natural wax. In 2013, petroleum and mineral wax segment dominated the market. However, over the forecast period, synthetic wax segment is projected to be the largest growing product type. Synthetic wax accounted for share of 11% in the overall market in 2013. Additionally, in the coming years, the natural wax segment is expected to register lucrative growth. 

In terms of end-use industries, the global wax market has been classified into candles, packaging, wood and fire-logs, rubber, adhesive, cosmetics, and other end-use industries. Of these, candles accounted for the largest share in the market in the year 2013 by accounting more than 41% of the market. 

Emerging Economies Slated to Make Major Difference to Global Earnings 

In terms of geography, the global wax market is segmented into North America, Latin America, Europe, Japan, and Asia Pacific excluding Japan. Asia Pacific has been holding an overwhelming position regarding both volume and income in the worldwide wax advertises. The fundamental purpose for this is the nearness of many assembling units. The interest for wax is likewise high from candles, glues, bundling, and beautifying agents businesses in APAC. A key segment of the wax created in China is sent out to the U.S. A vast amount of the wax is additionally provided to huge numbers of the European countries. China remains the biggest provider of wax, even more explicitly, the oil based waxes around the world. 

Another explanation behind the development of the Asia Pacific wax advertises is the prospering end client ventures. As nations, for example, China and India are rising as key markets, holding promising potential for countless which require wax, the market for wax will become even in the coming years. North America and Europe are foreseen to observe a lazy development in the gauge time frame. 

Some of the key players operating in the global wax market are The International Group, Inc. (IGI), Sasol Wax, China National Petroleum Corporation (CNPC), Exxon Mobil Corporation, Lukoil, Total Petrochemicals & Refining USA Inc., Sinopec Limited and Royal Dutch Shell plc, and Petróleos de Venezuela SA. 

 
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