Wax Market : Industry Analysis, Geographical Segmentation, Drivers and Trends by 2020


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The global wax market was valued at $7,939.6 million in 2014, and it is expected to grow with a CAGR of 3.5% during 2015 - 2020. The factors driving the growth of the global market include growing base of end-user industries and increasing demand of natural waxes. Waxes have applications in several industries ranging from ink and coatings to packaging, paints to textile, electrical and electronics to rubber, and cosmetics and pharmaceuticals to food.

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In 2014, the Asia-Pacific market held the largest share in the global market, in terms of value and volume. The major reasons behind the growth of the wax market in the region are presence of large number of wax producers in the region and growing base of end-user industries. Asia-Pacific is also anticipated to witness the fastest growth with a CAGR of 4.6% in terms of value, during the forecast period.

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Some of the major players operating in the global wax market are China National Petroleum Corporation, Exxon Mobil Corporation, Royal Dutch Shell PLC, Sasol Limited, The Lubrizol Corporation, Petróleo Brasileiro S.A., Honeywell International Inc., Akzo Nobel N.V., Evonik Industries AG, and Hexion Inc.

GLOBAL WAX MARKET SEGMENTATION

 By Application
  • Petroleum and Mineral Wax
    • Paraffin Wax
    • Microcrystalline Wax
    • Others
  • Synthetic Wax
    • Polymer Wax
    • GTL Wax
    • Others
  • Natural Wax
    • Vegetable Wax
    • Animal and Insect Wax
By Application
  • Candles
  • Packaging
  • Rheology/Surface applications
  • Board Sizing
  • Health Industries
  • Cosmetics
  • Others
GEOGRAPHICAL SEGMENTATION
By Region
  • Asia-Pacific
  • North America
  • Western Europe
  • Latin America
  • Middle East and Africa
  • Central and Eastern Europe

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