Apr 30, 2019   SOURCE: BusinessWire

Industrial Wax (Fossil, Synthetic, Bio-Based) Market - Global Forecast to 2026 - ResearchAndMarkets.com

The "Industrial Wax Market by Type (Fossil Based, Synthetic Based, Bio-Based), Application (Candles, Packaging, Coatings & Polishing, Hot Melt Adhesive, Tires & Rubber, Cosmetics & Personal Care, Food) -Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

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.

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.

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).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Industrial Wax Market

4.2 Asia-Pacific Industrial Wax Market 2017

4.3 China Expected to Lead the APAC Industrial Wax Market, During Forecast Period

4.4 Asia-Pacific is Expected to Lead the Global Industrial Wax Market, During Forecast Period, (2018-2026)

5 Market Overview

5.1 Introduction

5.2 Market Segmentation

5.2.1 By Type

5.2.2 By Application

5.2.3 By Region

5.3 Market Dynamics

5.3.1 Drivers

5.3.1.1 Rising Demand From Applications Such as Candle, Tire & Rubber, and Coating & Polishes,

5.3.1.2 The Increasing Acceptance of Synthetic Waxes

5.3.1.3 Technology Changes in the Wax Market

5.3.1.4 Growing Population and Increasing Per Capita Income in Emerging Countries Such as India, China, and Other Asian Countries

5.3.2 Restraints

5.3.2.1 Shrinking Supply of Paraffin Wax

5.3.2.2 Increasing Prices of Synthetic and Bio-Based Waxes

5.3.3 Opportunities

5.3.3.1 Growing Demand for Unconventional Waxes

5.3.3.2 Growing North American Imports of Industrial Wax

5.3.4 Challenges

5.3.4.1 to Meet the Growing Demand for Paraffin Wax

5.3.4.2 Declining Use of Fossil-Based Wax in the Packaging Industry in North America

6 Industry Trends

6.1 Introduction

6.1.1 North America

6.1.1.1 Declining Use in Packaging Application and Rise in Demand in Candle Making

6.1.1.2 Fall in Production and Increase in Import of Wax in North America

6.2 Europe

6.2.1.1 The Shift of Food Packaging Industry From Paraffin Wax Towards the Natural Waxes

6.2.1.2 Rise in Demand for Paraffin Wax in Candle Making Increasing the Imports in Europe

6.2.2 Asia-Pacific

6.2.2.1 The Fastest Growing Wax Market in the World

6.2.2.2 Increasing Production Capacities in the Region

6.2.3 Leading Wax Manufacturers are Developing Sustainable and Innovative Solutions for Existing and New Applications of Wax to Drive the Industry Forward

6.2.3.1 Packaging

6.2.3.2 Mining

6.2.3.3 Leisure & Sports

6.2.3.4 Textile & Leather

6.2.3.5 Building & Construction

6.3 Value Chain Analysis

6.3.1 Raw Material Suppliers

6.3.2 Manufacturers

6.3.3 Distributors/Resellers

6.3.4 End-Users

6.4 Porter's Five Force Analysis

6.4.1 Bargaining Power of Suppliers

6.4.1.1 Fluctuation in Crude Oil Prices

6.4.1.2 A Large Number of Raw Material Suppliers

6.4.2 Threat of New Entrants

6.4.2.1 Highly Consolidated Market

6.4.2.2 Small Players Restricted to Local Markets

6.4.3 Threat of Substitutes

6.4.3.1 A Limited Number of Substitutes

6.4.3.2 Product Differentiation is Low

6.4.4 Bargaining Power of Buyers

6.4.4.1 Brand Sensitive Market

6.4.4.2 A Sufficient Number of Suppliers

6.4.5 Intensity of Rivalry

6.4.5.1 A Market Dominated By A Few Well-Established Players

6.5 Macroeconomic Indicators

6.5.1 GDP Growth Rate Forecast of Major Global Economies

6.5.2 Candle Market Analysis

6.5.3 Comparison Between Industrial Wax Market & Hot Melt Adhesives Market Growth

6.5.4 Consumer Packaging Market Analysis

6.5.5 Rubber Market Analysis

7 Industrial Wax Market, By Type

7.1 Introduction

7.2 Fossil Based Waxes

7.2.1 Mineral Waxes

7.2.1.1 Montan Wax (Lignite/Brown Coal)

7.2.1.2 Ozokerite

7.2.2 Petroleum Waxes

7.2.2.1 Paraffin Wax (Long-Chain Alkanes)

7.2.2.2 Microcrystalline Wax

7.3 Synthetic Based Wax

7.3.1 Poly-Olefin Waxes/ Alpha-Olefin Waxes

7.3.2 Fischer-Topsch Waxes (Gtl, Ctl, Btl)

7.4 Bio-Based Waxes

7.4.1 Vegetable Waxes (Candelilla Wax, Carnauba Wax)

7.4.2 Animal Waxes (Beeswax, Chinese Wax, Tallow, Lanolin)

8 Industrial Wax Market, By Application

8.1 Introduction

8.2 Candles

8.3 Packaging

8.4 Coatings & Polishes

8.5 Hot Melt Adhesives

8.6 Tires & Rubber

8.7 Cosmetics & Personal Care

8.8 Food

8.9 Others (Agriculture, Printing Inks, Pvc, Chlorinated Paraffin and Investment Casting)

9 Industrial Wax Market, By Region

10 Competitive Landscape

10.1 Overview

10.2 Competitive Situations and Trends

10.3 Market Share Analysis

10.3.1 Sinopec Ltd.

10.3.2 Exxon Mobil Corp

10.3.3 The Royal Dutch Shell

10.3.4 Sasol Wax Ltd

10.3.5 Oil Co. Lukoil PJSC

10.4 Expansions: Most Popular Growth Strategy 2015 to 2017

10.4.1 New Product Launches

10.4.2 Expansions

10.4.3 Contracts & Agreements

10.4.4 Joint-Ventures

11 Company Profiles

11.1 Sinopec Ltd.

11.2 Royal Dutch Shell Plc

11.3 Petroleo Brasileiro S.A. (Petrobras)

11.4 Exxon Mobil Corp

11.5 Sasol Ltd.

11.6 Oil Co. Lukoil PJSC

11.7 Numaligarh Refinery Ltd

11.8 HCI

11.9 The Blayson Group Ltd

11.10 International Group Inc.

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