Industrial Wax Market Insights by Latest Trends, Future Scope of Key Players, CAGR Status, and SWOT Analysis Till 2026


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Shibuya Data Count

May 27, 2021, 09:08 EST


Shibuya-ku, Tokyo, Japan, Japan, May 27, 2021, 09:08 /Comserve / -- The key players in the industrial wax market are Sinopec (China), Royal Dutch Shell (Netherlands), Petroleo Brasileiro (Brazil), Exxon Mobil (US), Sasol (South Africa), Oil Co. Lukoil PJSC (Russia), Numaligarh Refinery (India), HCl (China), Others

Shibuya Data Count (SDKI) estimates The industrial wax market size is estimated at USD 9.8 billion in 2018 and is projected to reach USD 14.3 billion by 2026, at a CAGR of 4.8%. The industrial wax market is driven by the rising demand for industrial wax from applications, such as candles, tires & rubbers, and coatings & polishes, and increasing acceptance of synthetic waxes. However, the shrinking supply of paraffin wax and increasing prices of synthetic and bio-based waxes act as the restraints in the market.

Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-106675

"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."

The key players in the industrial wax market are

Sinopec (China),
Royal Dutch Shell (Netherlands),
Petroleo Brasileiro (Brazil),
Exxon Mobil (US),
Sasol (South Africa),
Oil Co. Lukoil PJSC (Russia),
Numaligarh Refinery (India),
HCl (China),
The Blayson Group (UK) and
International Group (Canada).

“The synthetic-based waxes type is projected to register the highest CAGR during the forecast period.”
The synthetic-based waxes type is projected to witness the highest growth rate during the forecast period. Synthetic based waxes include Fischer-Tropsch (FT) and poly-olefin waxes/alpha-olefin waxes that are obtained from natural gas or ethylene. These waxes can be easily modified to meet specific performance/characteristics required by the end-use applications. In addition, the synthetic-based waxes are a renewable option for the mineral-based waxes. This has led to the increased acceptance of synthetic waxes in several applications.

“The market in the candles application to account for the largest share during the forecast period.”
Industrial wax is mainly used in three applications, namely, candles, packaging, and coatings & polishes. The candles application is one of the oldest and major applications of industrial wax. Industrial wax is preferred for making candles due to its properties, such as moldability and extrudability. These properties of industrial wax enable the making of candles in all types of shapes and sizes. This application is growing due to the increasing demand for fragrance products, decorative items, and the use of candles for religious and therapeutic purposes.

“Asia Pacific is estimated to be fastest-growing industrial wax market during the forecast period.”
Asia-Pacific is estimated to be the fastest-growing industrial wax market, during the forecast period, due to the rising demand from countries, such as China, Japan, and India. India is projected to be the fastest-growing market of industrial wax in Asia-Pacific, followed by Vietnam and China. The Middle East & Africa is the second-fastest growing industrial wax market. The increasing demand for industrial wax from several applications, such as candles and coatings & polishing, is expected to provide growth opportunities for the industrial wax market in the region.

Extensive primary interviews were conducted to determine and verify the market sizes of several segments and subsegments and information gathered through secondary research.

Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-106675

"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."

The breakup of primary interviews is given below:

  • By Company Type - Tier 1 – 50%, Tier 2 – 32%, and Tier 3 – 18%
  • By Designation - C level – 21%, Director Level – 23%, and Others – 56%
  • By Region - Asia Pacific– 32%, Europe – 28%, North America – 25%, South America – 9%, and the Middle East & Africa – 5%

Research Coverage:
This research report categorizes the industrial wax market on the basis of type, application, and region. The report includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the market. A detailed analysis of the key industry players has been done to provide insights into business overviews, products, key strategies, and recent developments associated with the market.

Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market in the following ways:

  • This report segments the industrial wax market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
  • The report will help stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
  • This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business. The competitive landscape section includes developments, such as expansion, contract & agreement, joint venture, and new product development.

TABLE OF CONTENTS

1 INTRODUCTION 18
1.1 OBJECTIVES OF THE STUDY 18
1.2 MARKET DEFINITION 18
1.3 MARKET SCOPE 18
1.3.1 BY REGION 19
1.3.2 YEARS CONSIDERED FOR THE STUDY 19
1.4 CURRENCY 20
1.5 LIMITATIONS 20
1.6 STAKEHOLDERS 20
2 RESEARCH METHODOLOGY 21
2.1 RESEARCH DATA 21
2.1.1 SECONDARY DATA 22
2.1.1.1 Key data from secondary sources 22
2.1.2 PRIMARY DATA 23
2.1.2.1 Key data from primary sources 23
2.1.2.2 Key industry insights 24
2.1.2.3 Breakdown of primary interviews 24
2.2 MARKET SIZE ESTIMATION 25
2.2.1 BOTTOM-UP APPROACH 25
2.2.2 TOP-DOWN APPROACH 26
2.3 DATA TRIANGULATION 27
2.4 RESEARCH ASSUMPTIONS 28
3 EXECUTIVE SUMMARY 29
4 PREMIUM INSIGHTS 33
4.1 ATTRACTIVE OPPORTUNITIES IN THE INDUSTRIAL WAX MARKET 33
4.2 ASIA-PACIFIC INDUSTRIAL WAX MARKET 2017 33
4.3 CHINA EXPECTED TO LEAD THE APAC INDUSTRIAL WAX MARKET,
DURING FORECAST PERIOD 34
4.4 ASIA-PACIFIC IS EXPECTED TO LEAD THE GLOBAL INDUSTRIAL WAX MARKET,
DURING FORECAST PERIOD, (2018-2026) 34
5 MARKET OVERVIEW 35
5.1 INTRODUCTION 36
5.2 MARKET SEGMENTATION 36
5.2.1 BY TYPE 36
5.2.2 BY APPLICATION 37
5.2.3 BY REGION 38
5.3 MARKET DYNAMICS 38
5.3.1 DRIVERS 39
5.3.1.1 Rising demand from applications such as candle,
tire & rubber, and coating & polishes, 39
5.3.1.2 The increasing acceptance of synthetic waxes 39
5.3.1.3 Technology changes in the wax market 39
5.3.1.4 Growing population and increasing per capita income in emerging countries such as India, China, and other Asian countries 40
5.3.2 RESTRAINTS 40

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