Global Refined Wax Market, By Type (Natural Wax, Synthetic Wax and Specialty Wax), Application (Building Materials, Candles & Hotmelts, Chlorinated Paraffins, Adhesive and Coating, Cosmetics and Pharmaceuticals, Chewing Gum, Crayons, Fire Logs, Food, Plastic Processing, Printing Inks & Lacquers, Polishes, Road Construction, Textile Industry, Tire & Rubber, Packaging and Others), Geography (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of the Middle East and Africa)-Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Refined Wax Market
The refined wax market is expected to witness market growth at a rate of 5.4% in the forecast period of 2021 to 2028. Data Bridge Market Research report on refined wax market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the requirement in packaging and hotmelts is escalating the growth of refined wax market.
Refined wax is known to be a hard substance that offers prevention towards corrosion. The substance is a mixture of esters, fatty acids and alcohols that is obtainable in several different forms. Refined wax has the ability of constraining resistance to moisture and oxidation. Refined wax is a non-toxic type of wax having broad applications in products produced by coatings, paints, adhesives, pharmaceuticals, cosmetics, skin care therapy, personal care and several other industries.
Major factors that are expected to boost the growth of the refined wax market in the forecast period are the rise in the alertness regarding the significance of home ambience. Furthermore, the increase in the cosmetic industries, fragrance industries and several other industries because of the imposition of lockdown during COVID-19 is further anticipated to propel the growth of the refined wax market. Moreover, the rise in the utilization in the manufacture of industrial coatings, plastic & rubber processing aids, hot melt adhesives, metal casting, pharmaceuticals, body care products and electrical insulations is further estimated to cushion the growth of the refined wax market. On the other hand, the unstable price of crude oil is further projected to impede the growth of the refined wax market in the timeline period.
In addition, paraffin wax offers a good barrier against odour and gas transmission which will further provide potential opportunities for the growth of the refined wax market in the coming years. However, the accessibility of substitute eco-friendly products might further challenge the growth of the refined wax market in the near future.
This refined wax market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on the refined wax market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Refined Wax Market Scope and Market Size
The refined wax market is segmented on the basis of type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the refined wax market is segmented into natural wax, synthetic wax and specialty wax.
- On the basis of application, the refined wax market is segmented into building materials, candles & hotmelts, chlorinated paraffins, adhesive and coating, cosmetics and pharmaceuticals, chewing gum, crayons, fire logs, food, plastic processing, printing inks & lacquers, polishes, road construction, textile industry, tire & rubber, packaging and others.
Refined Wax Market Country Level Analysis
The refined wax market is analysed, and market size, volume information is provided by country, resin type, formulating technology, and application as referenced above.
The countries covered in the refined wax market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the refined wax market due to the rise in the personal care, packaging, rubber, and pharmaceutical industries. Furthermore, the increase in the demand for hotmelt adhesives will further boost the growth of the refined wax market in the region during the forecast period. North America is projected to observe significant amount of growth in the refined wax market due to the growing demand for fragrance candles. Moreover, swift rise in the cosmetics, pharmaceuticals, and packaged food & beverage industries is further anticipated to propel the growth of the refined wax market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as consumption volumes, production sites, and volumes, import-export analysis, price trend analysis, cost of raw materials, downstream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Refined Wax Market Share Analysis
The refined wax market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the refined wax market.
The major players covered in the refined wax market report are The International Group, Inc., Calumet Specialty Products Partners, L.P., Sage Oil LLC, Tannin Corporation, Exxon Mobil Corporation, The Lubrizol Corporation, American Refining Group, Inc., Ergon, Inc., Sonneborn LLC, Sudbury Boat Care Products, Health & Beauty Natural Oils Co., Inc., DEUREX AG, michelman, Inc., SQI Group, BASF SE, Clariant, Mitsui Chemicals, Inc., Lion Chemtech Co., Ltd., ceronas GmbH, ALTANA, SCG Chemicals Co., Ltd., Cangzhou Bee Source Wax Co., Ltd and Changge Huading Wax Industry Co., Ltd among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (M.E.A.), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.