MARET OVERVIEW
The industrial wax market encompasses the utilization and sales of wax products for industrial purposes, including but not limited to packaging materials, polishes, coatings, candles, and adhesives. The market growth is propelled by the increasing demand for wax in various end-use industries, for example, construction, packaging, automotive, and consumer goods. The market is predicted to grow because of the expanding usage of paraffin waxes in various applications such as cosmetics, packaging, and candles.
MARKET DYNAMICS
The industrial wax market is anticipated to grow during the forecast period owing to rising demands for scented and decorative luxury coatings coupled with higher per capita income. Furthermore, the growing acceptance of synthetic waxes and applications of the product in the cosmetic industry drive the industrial wax market. However, fluctuating prices of the raw material and the shrinking supply of paraffin wax restrict the growth of the industrial wax market. Nonetheless, growing imports of industrial wax in the developed countries offer lucrative opportunities for the industrial wax market during the forecast period.
MARKET SCOPE
The "Global Industrial Wax Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of industrial wax market with detailed market segmentation by type, application, and geography. The global industrial wax market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading industrial wax market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global industrial wax market is segmented on the basis of type and application. Based on type, the market is segmented as fossil based waxes, synthetic based wax, and bio-based waxes. On the basis of the application the market is segmented as candles, packaging, coatings & polishes, hot melt adhesives, tires & rubber, cosmetics & personal care, food, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global industrial wax market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The industrial wax market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting industrial wax market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the industrial wax market in these regions.
MARKET PLAYERS
The reports cover key developments in the industrial wax market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from industrial wax market are anticipated to witness lucrative growth opportunities in the future with the rising demand for industrial wax in the global market. Below mentioned is the list of few companies engaged in the industrial wax market.
The report also includes the profiles of key industrial wax companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
-China Petrochemical Corporation
-Exxon Mobil Corporation
-HCI wax
-Numaligarh Refinery Limited
-Petroleo Brasileiro S.A. (Petrobras)
-PJSC LUKOIL
-Sasol Limited
-Shell International B.V.
-The Blayson Group Ltd
-The International Group, Inc.