The global paraffin wax market accounted for USD 5.3 billion in 2016. Paraffin wax is mainly used for producing aroma candles as they are cost efficient and requires use of less machinery. Increased standard of living of the individuals has raised the consumer awareness regarding home ambiance and aromatherapy.
Increased usage in the fields of manufacturing industrial coatings, body care products, metal casting, and electrical insulations is likely to drive the market in the near future. Apart from the cost efficiency and easy availability, these products provide outstanding water resistance to packaging and hence are anticipated to witness prominent growth over the coming years
The growing demand for manufacturing candles and its packaging and hotmelts is anticipated to boost the market over the forecast period. Increased demand for chlorinated paraffin is also one of the factors to stimulate the growth.
As the Paraffin waxes are petroleum-based products, changes in the petroleum prices may cause the price of these products to rise, limiting the growth of the market. Additionally, the increased usage of the alternatives such as beeswax, soy, and polyethylene wax are anticipated to restrain the market from flourishing.
The Paraffin wax market by type has been sub-segmented into fully refined wax, semi-refined wax among others.
Candles contributed to approximately 40 % of the market revenue in 2016 making it the leading application segment. Due to the increasing usage of candles in hotels, spa, aromatherapy, its market segment is expected to grow at a considerable rate.
Moreover, the increasing purchasing power of the consumers in China, India, and South Korea along with the accessibility of a wide range of aromas and the need to maintain home hygiene are expected to push the market for such products.
Due to increasing consumption of paraffin waxes in electrical insulator, friction reducer and flame retardant, the market size is expected to expand during the predicted time period. High usage of paraffin wax in making of cosmetics, rubber, candles have also added on to the growth of this particular market segment.
A major usage of paraffin wax lies in flexible packaging. Paraffin wax helps in preventing the packaging from odour and gas transmission.
Developing economies like China, India, South Korea, South Africa and Brazil are witnessing significant growth in the food and beverage sector leading to an increasing demand for flexible packaging. This in turn is expected to act as a catalyst to the growth of the paraffin wax market.
Asia Pacific ruled the global market and recorded approximately 36% of the total volume share. The region is anticipated to witness high profits due to rising demand for personal care products, packaging, rubber, and pharmaceuticals industries.
North America is anticipated to witness high growth in the near future due to high demand for aroma candles coupled with rapidly growing cosmetic and pharmaceuticals industries in these regions.
Due to hectic work schedules and wrong eating habits of consumers, the consumption for packaged food has increased. In addition, increasing oil & gas consumption is anticipated to expand the availability and demand of raw materials. These factors are likely to fuel the market over the years.
End Use Landscape:
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from paraffin wax market. The major consumers of the product are Aromatic Fragrances International, Agilex Fragrances, Compagnie Parento, Inc.
Please note: This is not an exhaustive list of companies profiled in the report.
Some of the major players of the market include Petro China Company Limited, ExxonMobil, Sinopec, Repsol, IOCL, and Sasol International Group. These companies are continuously trying to expand its oil based plants, which in turn is projected to drive the market.
In February 2013, ExxonMobil announced plans to expand its oil production base to meet increasing consumption of waxes in candles, emulsions and hot melt adhesives
1 ECOSYSTEM OVERVIEW
2 TECHNOLOGICAL TRENDS IN PARAFFIN WAX MARKET
3 DEMAND AND SUPPLY MATRIX
3.2 DEMAND SIDE ANALYSIS
3.2.1 PARAFFIN WAX: MARKET DRIVERS
3.2.2 PARAFFIN WAX: MARKET RESTRAINTS
3.2.3 PARAFFIN WAX: MARKET OPPORTUNITIES
3.2.4 PARAFFIN WAX: MARKET CHALLENGES
3.3 SUPPLY SIDE ANALYSIS
3.3.1 FUTURE SCENARIO (CAGR% VS. COUNTRY)
3.3.2 MAPPING KEY PARAFFIN WAX MANUFACTURERS
3.3.3 PORTER’S FIVE FORCES ANALYSIS
22.214.171.124 Threat of new entrants
126.96.36.199 Threat of substitutes
188.8.131.52 Bargaining power of buyers
184.108.40.206 Bargaining power of suppliers
220.127.116.11 Intensity of competitive rivalry
3.3.4 PARAFFIN WAX MARKET: TREND ANALYSIS
3.4 PESTLE ANALYSIS
3.5 IMPACT ANALYSIS
3.6 PATENT LISTING
3.7 BEHAVIOURAL ANALYSIS
3.7.1 KEY MACRO INDICATORS
3.7.2 KEY MICRO INDICATORS
4 GLOBAL PARAFFIN WAX MARKET: END USER LANDSCAPE (CONSUMER PROFILE)
4.2 NORTH AMERICA
4.5 CENTRAL & SOUTH AMERICA
4.6 MIDDLE EAST & AFRICA
5 GLOBAL PARAFFIN WAX MARKET, BY APPLICATION
5.4 BOARD SIZING
6 GLOBAL PARAFFIN WAX MARKET, BY TYPE
6.2 FULLY REFINED WAX
6.3 SEMI-REFINED WAX
7 GLOBAL PARAFFIN WAX MARKET, BY REGION
7.2 NORTH AMERICA
7.2.1 BY APPLICATION
7.2.2 BY TYPE
7.2.3 BY COUNTRY
18.104.22.168.1 By application.
22.214.171.124.1 By application.
7.3.1 BY APPLICATION
7.3.2 BY TYPE
7.3.3 BY COUNTRY
126.96.36.199.1 By application.
188.8.131.52.1 By application.
184.108.40.206.1 By application.
220.127.116.11.1 By application
7.4.1 BY APPLICATION
7.4.2 BY TYPE
7.4.3 BY COUNTRY
18.104.22.168.1 By application.
22.214.171.124.1 By application.
126.96.36.199 SOUTH KOREA.
188.8.131.52.1 By application.
184.108.40.206.1 By application
7.5 MIDDLE EAST & AFRICA
7.5.1 BY APPLICATION
7.5.2 BY TYPE
7.5.3 BY COUNTRY
220.127.116.11 SAUDI ARABIA
18.104.22.168.1 By application.
22.214.171.124 SOUTH AFRICA.
126.96.36.199.1 By application.
7.6 CENTRAL & SOUTH AMERICA
7.6.1 BY APPLICATION
7.6.2 BY TYPE
7.6.3 BY COUNTRY
188.8.131.52.1 By application.
184.108.40.206.1 By application.
8 COMPANY PROFILE
8.1.1 BUSINESS DESCRIPTION
8.1.2 SWOT ANALYSIS
8.1.3 PRODUCTS AND SERVICES OFFERED
8.1.4 STRATEGIC INITIATIVES
8.2.1 BUSINESS DESCRIPTION
8.2.2 SWOT ANALYSIS
8.2.3 PRODUCTS AND SERVICES OFFERED
8.2.4 STRATEGIC INITIATIVES
8.3.1 BUSINESS DESCRIPTION
8.3.2 SWOT ANALYSIS
8.3.3 PRODUCTS AND SERVICES OFFERED
8.3.4 STRATEGIC INITIATIVES
8.4 PETROCHINA COMPANY LIMITED
8.4.1 BUSINESS DESCRIPTION
8.4.2 SWOT ANALYSIS
8.4.3 PRODUCTS AND SERVICES OFFERED
8.4.4 STRATEGIC INITIATIVES
8.5.1 BUSINESS DESCRIPTION
8.5.2 SWOT ANALYSIS
8.5.3 PRODUCTS AND SERVICES OFFERED
8.5.4 STRATEGIC INITIATIVES
8.6.1 BUSINESS DESCRIPTION
8.6.2 SWOT ANALYSIS
8.6.3 PRODUCTS AND SERVICES OFFERED
8.6.4 STRATEGIC INITIATIVES
8.7.1 BUSINESS DESCRIPTION
8.7.2 SWOT ANALYSIS
8.7.3 PRODUCTS AND SERVICES OFFERED
8.7.4 STRATEGIC INITIATIVES
8.8 INTERNATIONAL GROUP, INC.
8.8.1 BUSINESS DESCRIPTION
8.8.2 SWOT ANALYSIS
8.8.3 PRODUCTS AND SERVICES OFFERED
8.8.4 STRATEGIC INITIATIVES
8.9 NIPPON SEIRO CO., LTD.
8.9.1 BUSINESS DESCRIPTION
8.9.2 SWOT ANALYSIS
8.9.3 PRODUCTS AND SERVICES OFFERED
8.9.4 STRATEGIC INITIATIVES
8.10 FRONTIER WAX
8.10.1 BUSINESS DESCRIPTION
8.10.2 SWOT ANALYSIS
8.10.3 PRODUCTS AND SERVICES OFFERED
8.10.4 STRATEGIC INITIATIVES
8.11.1 BUSINESS DESCRIPTION
8.11.2 SWOT ANALYSIS
8.11.3 PRODUCTS AND SERVICES OFFERED
8.11.4 STRATEGIC INITIATIVES
8.12.1 BUSINESS DESCRIPTION
8.12.2 SWOT ANALYSIS
8.12.3 PRODUCTS AND SERVICES OFFERED
8.12.4 STRATEGIC INITIATIVES
9 GLOBAL PARAFFIN WAX MARKET: VENDOR LANDSCAPE (SUPPLIERS/MANUFACTURERS/DISTRIBUTORS)
9.2 NORTH AMERICA
9.5 CENTRAL & SOUTH AMERICA
9.6 MIDDLE EAST & AFRICA
10 RESEARCH METHODOLOGY
10.1 DESK RESEARCH
10.2 PRIMARY RESEARCH
10.3 ANALYSIS AND OUTPUT
10.4 FINAL OUTPUT FROM DESK AND PRIMARY RESEARCH
The global paraffin wax market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the paraffin wax market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, demand forecasting, market share analysis, SWOT analysis of the company’s manufacturing paraffin wax, and customer analytics.
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