Paraffin Price Trend

Paraffin Price Trend, Index and Forecast

Track the latest insights on paraffin price trend and forecast with detailed analysis of regional fluctuations and market dynamics across North America, Latin America, Central Europe, Western Europe, Eastern Europe, Middle East, North Africa, West Africa, Central and Southern Africa, Central Asia, Southeast Asia, South Asia, East Asia, and Oceania.

Paraffin Prices Outlook Q1 2025

• USA: US$ 1360/MT
• China: US$ 892/MT
• Germany: US$ 1620/MT
• Brazil: US$ 1425/MT
• South Africa: US$ 1585/MT

Paraffin Price Chart

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During the first quarter of 2025, the paraffin prices in the USA reached 1360 USD/MT in March. As per the paraffin price chart, reduced demand from industries like polyethylene and detergents contributed to the pressure on prices. Besides, some supply chain bottlenecks, especially at major U.S. ports, impacted trade flows and contributed to the price volatility.

During the first quarter of 2025, paraffin prices in China reached 892 USD/MT in March. The Lunar New Year period in China saw a rise in demand for paraffin wax across various industries, including candle production and cosmetics, leading to price fluctuations. Besides, fluctuations in global crude oil prices, a major component of paraffin production, directly impacted manufacturing costs. 

During the first quarter of 2025, the paraffin prices in Germany reached 1620 USD/MT in March. Paraffin prices in Germany exhibited a fluctuating trend, initially rising due to factors like increased crude oil prices and robust demand from industrial sectors and later stabilizing with a downward trend due to improved crude oil supply and reduced geopolitical risks. The market was also influenced by logistical disruptions and steady downstream demand. 

During the first quarter of 2025, the paraffin prices in Brazil reached 1425 USD/MT in March. The market saw steady demand from industrial sectors, particularly pharmaceuticals and cosmetics, which remained robust throughout the quarter.

During the first quarter of 2025, the paraffin prices in South Africa reached 1585 USD/MT in March. Demand for paraffin was influenced by various factors, including seasonal needs, industrial applications, and consumer preferences. Besides, factors like government levies, taxes, and the implementation of favorable policies played a role in shaping paraffin prices. 

Paraffin Prices Outlook Q4 2023

• United State: US$ 1377/MT
• China: US$ 778/MT
• Germany: US$ 1616/MT

In the fourth quarter of 2023, the price of paraffin in the United States reached 1377 USD/MT by December. Similarly, in China, the paraffin prices hit 778 USD/MT in the same month. Germany also saw paraffin prices reaching 1616 USD/MT during Q4 2023.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the paraffin prices.

Global Paraffin Price Trend

The report offers a holistic view of the global paraffin pricing trends in the form of paraffin price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of paraffin, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed paraffin demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Paraffin Price Trend

Q1 2025:

As per the paraffin price index, the supply of imported paraffin wax was constrained by labor shortages, port congestion, and ongoing port strikes, especially at important entry ports. Due to these difficulties, there was a brief market imbalance, which reduced domestic supply and raised prices. Besides, demand from core end-user industries like candle manufacturing and cosmetics remained relatively stable, impacting prices. 

Q4 2023:

European paraffin prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

This analysis can be extended to include detailed paraffin price information for a comprehensive list of countries.

North America Paraffin Price Trend

Q1 2025:

Paraffin prices initially increased due to a surge in ethylene costs, elevated naphtha and crude oil prices, and tight supply caused by factors like refinery maintenance and port congestion. Besides, robust demand, particularly from the cosmetics sector, also influenced the pricing trends. Moreover, a shift away from naphtha in favor of cost-effective alternatives like ethane led to changes in paraffin prices. 

Q4 2023:

The analysis of paraffin prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.

Specific paraffin historical data within the United States and Canada can also be provided.

Middle East and Africa Paraffin Price Trend

Q1 2025:

As per the paraffin price chart, seasonal demand peaks and increased procurement activities in some regions led to an undersupplied market, forcing suppliers to adjust prices. Besides, geopolitical tensions and trade flow disruptions caused supply issues, further pushing prices. Moreover, the volatility of crude oil prices, a key feedstock for paraffin wax production, impacted manufacturing costs.

Q4 2023:

The report explores the paraffin pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on paraffin prices for countries can also be provided.

Asia Pacific Paraffin Price Trend

Q1 2025:

Paraffin prices in the Asia-Pacific region fluctuated due to a combination of factors, including crude oil price volatility, supply chain issues, and regional demand patterns. Crude oil, a key feedstock for paraffin production, experienced significant price swings, impacting manufacturing costs and, ultimately, paraffin prices. Supply chain disruptions, such as congested ports and logistical challenges, also contributed to price volatility.

Q4 2023:

The paraffin pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This paraffin price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Paraffin Price Trend

Q1 2025:

As per the paraffin price index, improved logistics and consistent raw material inflows from Asia and Europe helped maintain supply levels, contributing to a more balanced market in some regions. Moreover, stable economic activity and moderate inflationary pressures supported overall demand.

Q4 2023:

The analysis of paraffin prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Paraffin Price Trend, Market Analysis, and News

IMARC's latest publication, “Paraffin Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the paraffin market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of paraffin at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents detailed paraffin prices trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting paraffin pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Paraffin Industry Analysis

The global paraffin market size reached 2.28 Million Tons in 2024. By 2033, IMARC Group expects the market to reach 3.1 Million Tons, at a projected CAGR of 3.14% during 2025-2033.

• The extensive use of paraffin in different industries such as packaging, food, pharmaceuticals, and cosmetics is influencing the growth of the market. The versatility of paraffin as an ingredient in products like candles, lubricants, polishes, and food coatings is driving its demand consistently. For instance, in April 2024, specialty chemicals company Archroma announced the launch of its Cartaseal OGB F10 barrier coating, designed for PFAS-free oil and grease resistance in food and non-food paper and board packaging.
• The increasing use of paraffin in cosmetics and personal care products, such as creams, lotions, and therapeutic wax treatments is contributing to the market growth. The properties of paraffin as a moisturizer and skin protectant are particularly valued which is further fueling its demand in the industry. According to IBEF, the Indian cosmetics industry is majorly categorized into skin care, hair care, oral care, fragrances, and colour cosmetics segment. The overall market share is expected to grow to US$20 billion by 2025 with a Compound Annual Growth Rate (CAGR) of 25%. On the other hand, the global cosmetics industry is growing at 4.3% CAGR and will reach US$ 450 billion by 2025. By 2025, along with this growth, India will continue 5% of the total cosmetics market and reach the top five global markets in terms of revenue.
• The increasing use of paraffin in industrial applications, including in the production of rubber, and textiles, and as a component in electrical insulators are bolstering the growth of the market. According to Invest India, the domestic apparel &textile industry in India contributes approx. 2.3% to the country’s GDP, 13% to industrial production, and 12% to exports. India has a 4% share of the global trade in textiles and apparel. India is set to achieve $ 250 Bn textiles production and $100 Bn exports by 2030. India is the largest cotton producer (23%) in the world and has the highest area under cotton cultivation (39% of the world area). Cotton plays a major role in sustaining the livelihood of an estimated 6.5 Mn cotton farmers.
• The increasing demand for paraffin as a coating for fruits, vegetables, and certain confections to extend shelf life and improve appearance is driving the demand for food preservation solutions which is facilitating the growth of the market.

Paraffin News

The report covers the latest developments, updates, and trends impacting the global paraffin industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in paraffin production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the paraffin price trend.

Latest developments in the Paraffin industry:

• In May 2024, German company Hylmpulse successfully launched a candle wax-powered rocket capable of carrying satellites on a test suborbital flight into space for the first time. It is capable of carrying small satellites weighing up to 250 kg (551 pounds) to an altitude of up to 250 km (155 miles) while being fuelled by paraffin, or candle wax, and liquid oxygen. Paraffin can be used as a cheaper and safer alternative fuel for rockets, reducing satellite transportation costs by as much as 50%, according to HyImpulse.
• In December 2022, the Saudi Arabian Oil Company, one of the world’s leading integrated energy and chemicals companies, China Petroleum and Chemical Corporation and SABIC, announced that they are exploring collaborations across refining and petrochemical projects in China and Saudi Arabia. Aramco and Sinopec, one of the world’s largest energy and petrochemical corporations, have signed heads of agreement for a greenfield project in Gulei, Fujian Province, which plans to include a 320,000 barrels-per-day refinery and 1.5 million tons-per-year petrochemical cracker complex. It is expected to commence operations by the end of 2025. Additionally, Aramco, SABIC and Sinopec signed a Memorandum of Understanding (MoU) on December 15, to study the economic and technical feasibility of developing a new petrochemical complex to be integrated with an existing refinery in Yanbu, Saudi Arabia.

Product Description

Paraffin or paraffin wax refers to a white or colorless soft solid derived from petroleum, coal, or oil shale.

It is composed of a mixture of hydrocarbon molecules, primarily consisting of long-chain alkanes. It is tasteless and odorless, making it suitable for various applications. It is extensively used for its excellent insulating and waterproofing properties in the industrial and commercial sectors. Paraffin is a key component in making candles, wax paper, lubricants, and polishes. It is used in treatments including heat therapy for muscle pain relief in the medical field. Paraffin is also employed in the food industry as a coating for fruits, vegetables, and certain confections to preserve freshness and appearance. It remains an essential material across multiple industries due to its versatility and wide range of applications.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of paraffin pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting paraffin price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The paraffin price charts ensure our clients remain at the forefront of the industry.