Global Wax Market Research Report 2017Posted by Bharat Book on December 9th, 2017 Global Wax Market is estimated to reach .6 billion by 2024; growing at a CAGR of 4.3% from 2016 to 2024.In terms of volume, the market was valued at 4,929kilo tons in 2016 and expected to reach 6,473kilo tons by 2024, at a CAGR of 3.5% from 2016to2024. Wax is a distinct category of organic compounds that is hydrophobic, and pliable solids close to ambient temperatures. Wax is made up of various forms such as vegetable based, animal based, and synthetic based. Wax are soluble in nonpolar & organic solvents, but are insoluble in water. The wax market has become highly price volatile in recent years owing to the crude oil price volatility. The completely refined waxes are extensively used for candle making and as wax coatings for film, paper, and foil substrates utilized in the packaging industry. Some of the other beneficial applications of wax are building materials, cosmetics, inks, corrugated board, tire and rubber, PVC, and polishes.The growth of the global wax market is primarily driven by growing adoption of synthetic wax, and increasing applications of wax such as candle, coating & polishes, tire & rubber, and cosmetics. However, lack supply of paraffin wax, and rising prices of bio based & synthetic waxes are the major hindrance for the market growth. Further, high growth in demand for unconventional waxes is expected to pose new growth opportunities for the market in the forecast period.
The global wax is segmented into product type, application, and geography. The product type is sub-segmented into natural wax (vegetable wax, animal & insect wax, and others), synthetic wax (GTL wax, polymer wax, and others), and petroleum and mineral wax (paraffin wax, microcrystalline wax and others). Application segment is further sub-segmented into packaging, candles, rheology surface applications, cosmetics, health industries, board sizing, and other applications. Request a free sample copy of Wax Market Report @ Based on geography, global wax market is segmented into North America, Europe, Asia Pacific, Rest of the World (RoW) North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa. Prominent players in the market include Exxon Mobil Corp., Royal Dutch Shell Plc, The Blayson Group Ltd, PJSC Lukoil, Sasol Limited, HCl WAX, Sinopec Corp., Numaligarh Refinery Limited, Petróleo Brasileiro S.A., and International Group, Inc. among others. The key takeaways from the report Scope of the Global Wax Market Synthetic Wax Petroleum and Mineral Wax Geographical Segments North America Europe Asia-Pacific RoW Browse our full report with Table of Contents : About Bharat Book Bureau: Contact us at: Follow us on : Twitter, Facebook, LinkedIn, Google Plus Like it? Share it! More by this author |
