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Wax Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global wax market size reached US$ 9.72 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 12.03 Billion by 2027, exhibiting a growth rate (CAGR) of 3.40% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Wax refers to a diverse class of organic compounds that appear as lipophilic and malleable solids at room temperature. It is derived from various plants, animals, petroleum, minerals, and synthetic sources. It is insoluble in water but soluble in organic, non-polar solvents and is widely employed as an additive and base material to aid processing. It is also used to manufacture candles, coatings, adhesives, cosmetics and personal care products, rubber, and automotive polishes. In recent years, wax has gained traction across numerous industries due to its excellent insulation, anti-caking properties, and resistance to ultraviolet (UV) rays, microorganisms, moisture, and odor.

Wax Market Trends:

Significant growth in the end use sectors and emerging product applications represent the primary factors driving the market growth. For instance, wax is extensively used in the cosmetics and personal care industries to thicken formulations, provide stability to products with emollient and protective qualities, and enhance their viscosity and consistency. As a result, the escalating demand for personal care products due to improving focus on physical appearance, changing lifestyles, and inflating consumer disposable incomes is catalyzing the market growth. Besides this, the growing utilization of wax in hot melt adhesives, printing ink formulations, and coating solutions is augmenting the product demand. Additionally, wax is gaining traction in flexible packaging, food containers, folding cartons, corrugated containers, and paper cups due to its water-, moisture-, and vapor-resistant properties. Along with this, the rising popularity of scented candles as luxury and decorative gift items is propelling the market growth. Furthermore, the leading manufacturers are making heavy investments in the development of bio-based wax, such as vegetable wax, to meet the growing consumer demand for eco-friendly and renewable products and expand their product portfolio. Other factors, including the increasing usage of adhesives, extensive research and development (R&D) activities, product innovations, rapid urbanization, and technological advancements, are also creating a positive market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global wax market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, form and application.

Breakup by Type:

  • Mineral Wax
  • Synthetic Wax
  • Natural Wax
  • Others
     

Breakup by Form:

  • Flakes
  • Granules
  • Powder
  • Others
     

Breakup by Application:

  • Candles
  • Cosmetics
  • Packaging
  • Emulsions
  • Hot Melts
  • Floor Polishes
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Baker Hughes Company, BASF SE, Cepsa, China Petrochemical Corporation, Eni S.p.A., Evonik Industries AG, Exxon Mobil Corporation, HF Sinclair Corporation, Honeywell International Inc., Mitsui Chemicals Inc., Nippon Seiro Co. Ltd., Sasol Limited and Shell plc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Form, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Baker Hughes Company, BASF SE, Cepsa, China Petrochemical Corporation, Eni S.p.A., Evonik Industries AG, Exxon Mobil Corporation, HF Sinclair Corporation, Honeywell International Inc., Mitsui Chemicals Inc., Nippon Seiro Co. Ltd., Sasol Limited and Shell plc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Wax Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Mineral Wax
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Synthetic Wax
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Natural Wax
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Form
    7.1    Flakes
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Granules
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Powder
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Application
    8.1    Candles
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Cosmetics
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Packaging
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Emulsions
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Hot Melts
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Floor Polishes
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    Others
        8.7.1 Market Trends
        8.7.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Baker Hughes Company
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    BASF SE
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    Cepsa
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 SWOT Analysis
        14.3.4    China Petrochemical Corporation
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
        14.3.5    Eni S.p.A.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    Evonik Industries AG
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
        14.3.7    Exxon Mobil Corporation
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    HF Sinclair Corporation
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    Honeywell International Inc.
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
        14.3.10    Mitsui Chemicals Inc.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Nippon Seiro Co. Ltd.
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
        14.3.12    Sasol Limited
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis
        14.3.13    Shell plc
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio
           14.3.13.3 Financials

List of Figures

Figure 1: Global: Wax Market: Major Drivers and Challenges
Figure 2: Global: Wax Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Wax Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Wax Market: Breakup by Type (in %), 2021
Figure 5: Global: Wax Market: Breakup by Form (in %), 2021
Figure 6: Global: Wax Market: Breakup by Application (in %), 2021
Figure 7: Global: Wax Market: Breakup by Region (in %), 2021
Figure 8: Global: Wax (Mineral Wax) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Wax (Mineral Wax) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Wax (Synthetic Wax) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Wax (Synthetic Wax) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Wax (Natural Wax) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Wax (Natural Wax) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Wax (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Wax (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Wax (Flakes) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Wax (Flakes) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Wax (Granules) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Wax (Granules) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Wax (Powder) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Wax (Powder) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Wax (Other Forms) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Wax (Other Forms) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Wax (Candles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Wax (Candles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Wax (Cosmetics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Wax (Cosmetics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Wax (Packaging) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Wax (Packaging) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Wax (Emulsions) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Wax (Emulsions) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Wax (Hot Melts) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Wax (Hot Melts) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Wax (Floor Polishes) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Wax (Floor Polishes) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Wax (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Wax (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: North America: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: North America: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: United States: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: United States: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Canada: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Canada: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Asia-Pacific: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Asia-Pacific: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: China: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: China: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Japan: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Japan: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: India: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: India: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: South Korea: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: South Korea: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Australia: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Australia: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Indonesia: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Indonesia: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Others: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Others: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Europe: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Europe: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Germany: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Germany: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: France: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: France: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: United Kingdom: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: United Kingdom: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Italy: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Italy: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Spain: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Spain: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Russia: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Russia: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Others: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Others: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Latin America: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Latin America: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Brazil: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Brazil: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Mexico: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Mexico: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Others: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Others: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Middle East and Africa: Wax Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Middle East and Africa: Wax Market: Breakup by Country (in %), 2021
Figure 86: Middle East and Africa: Wax Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 87: Global: Wax Industry: SWOT Analysis
Figure 88: Global: Wax Industry: Value Chain Analysis
Figure 89: Global: Wax Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Wax Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Wax Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Wax Market Forecast: Breakup by Form (in Million US$), 2022-2027
Table 4: Global: Wax Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Wax Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Wax Market: Competitive Structure
Table 7: Global: Wax Market: Key Players


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Key Questions Answered in This Report

The global wax market was valued at US$ 9.72 Billion in 2021.

We expect the global wax market to exhibit a CAGR of 3.40% during 2022-2027.

The rising utilization of wax in several personal care products to thicken formulations, provide stability to products with protective qualities, and enhance their consistency, is primarily driving the global wax market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for wax.

Based on the type, the global wax market has been segregated into mineral wax, synthetic wax, natural wax, and others. Among these, mineral wax holds the largest market share.

Based on the application, the global wax market can be bifurcated into candles, cosmetics, packaging, emulsions, hot melts, floor polishes, and others. Currently, candles exhibit a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global wax market include Baker Hughes Company, BASF SE, Cepsa, China Petrochemical Corporation, Eni S.p.A., Evonik Industries AG, Exxon Mobil Corporation, HF Sinclair Corporation, Honeywell International Inc., Mitsui Chemicals Inc., Nippon Seiro Co. Ltd., Sasol Limited, and Shell plc.

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