An Incisive, In-depth Analysis on the Paraffin Wax Market
This study offers a comprehensive, 360 degree analysis on the Paraffin Wax market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Paraffin Wax market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Paraffin Wax Market to Exhibit Upward Trend through 2029, Aromatherapy Continues to Ratchet up Demand
Global paraffin wax market is projected to undergo promising growth at approximately 4.8% CAGR through the course of projection period (2019-2029). Demand for paraffin wax is on rise, particularly in home ambiance and aromatherapy. Furthermore, paraffin wax sale is boosted by end-use applications such as skin care products. Having surpassed revenues of approximately US$ 5.7 Bn in 2018, the market will witness positive growth through 2029.
Paraffin wax will continue to achieve widespread adoption in manufacturing candles as well. Most of the spas and hotels utilize candles for aromatherapy. Moreover, consumers prefer paraffin wax as it offers excellent barrier against gas and odour transmission. In addition, other end-use areas such as hot melts, rubber, board sizing, and packaging utilize paraffin wax thereby augmenting the demand.
The market growth will however be hampered by volatile petroleum prices and availability of eco-friendly alternatives such as polyethylene wax and beeswax. Therefore, paraffin wax manufacturers must enhance the sustainability aspect of their business for sustained competitive advantage.
Demand for Flexible Packaging to Remain Major Growth Cynosure of Paraffin Wax Market
The global paraffin wax market will receive steady demand from packaging industry over the forecast period. Role of paraffin wax in manufacturing flexible packaging for food & beverage, pharmaceutical, and personal care industries is driving adoption. The developed countries in particular such as Germany, UK, and Russia generate profuse demand for packaged food.
Leading global producers prefer paraffin wax for packaging on account of its aesthetic appeal and thermal insulation material properties. Other key attributes include grease and odour barrier, gloss, and water vapour resistance. However, natural waxes are gaining traction in packaging industry as well. Natural wax mitigates the risk of packaging wax migrating into the food.
Asia Pacific Holds Prodigious Market Share, North America Presses Forward
On account of burgeoning end-use industries such as pharmaceuticals, rubber, packaging, and personal care in South Korea, India, and China, Asia Pacific paraffin wax market will witness an upward growth trajectory through 2029. Moreover, the demand for hotmelt adhesives in areas such as woodworking is augmenting the growth of regional paraffin wax market.
Massive investments and proliferation of industry leaders in countries such as India and China is fuelling the regional demand for paraffin wax. On the other hand, North America will constitute noteworthy market share through the duration of forecast period. The United States in particular will record double-digit CAGR through 2029. The region is projected to grow on the back of prolific demand for fragrance candles, food packaging and cosmetics.
Expansion Activities to Stimulate Growth of Market Incumbents through 2029
The key players in paraffin wax market include, CNPC (Sinopec), Royal Dutch Shell Plc, Sasol Wax, Venezuela National Oil Company, Petrobras, Petro Canada Lubricants, Marathon Oil Corporation, Cepsa Company, Big West Oil LLC, Naftowax, and, Nippon Siero Co. Major players continue to bank on expanding their wax production capacity to maintain prominence.
For instance, companies such as PetroChina, Sinopec, and ExxonMobil are focusing their efforts towards expanding their base oil plants. Moreover, they will continue to innovate new wax production technologies through 2029. Deoiling wax production technology in particular is a significant area of research. In addition, industry leaders will accelerate oil exploration and production activities through the duration of forecast period.
A recent market study published by Future Market Insights on the paraffin wax market includes global industry analysis for 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on historic as well as current growth parameters, growth prospects of the paraffin wax market are obtained with maximum precision.
Paraffin Wax Market Segmentation
The global paraffin wax market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
Chapter 01 – Executive Summary
The report begins with an executive summary of the paraffin wax market, which includes key findings and statistical analysis of the market.
Chapter 02 – Market Overview
Readers can find the definition and detailed taxonomy of the market in this chapter, which will help them understand the basic information about the market.
Chapter 03 - Demand Analysis 2014-2018 and Forecast, 2019-2029
This section explains the global market value analysis and forecast for the paraffin wax market during the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical market, along with opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
Chapter 04- Market - Pricing Analysis
This section covers pricing analysis of the market at regional levels.
Chapter 05 – Market Background
This section explains the global market value analysis and forecast for the paraffin wax market during the forecast period of 2019-2029 and the key macroeconomic factors that are expected to influence growth of the market during the forecast period. This section also highlights the opportunity analysis for the market. This chapter also provides key market dynamics, which include drivers and restraints. Moreover, readers will understand key trends followed by leading manufacturers in the market.
Chapter 06 – Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Region
This chapter explains how the market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, Asia Pacific, Middle East and Africa (MEA).
Chapter 07 – Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Application
This chapter provides details about the market based on application, and has been classified into candles, cosmetics, hot melts, rubber, board sizing, and packaging. Through this chapter, readers can understand market attractiveness analysis based on application.
Chapter 08 – Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Type
This chapter provides details about the market based on type, and has been classified into semi-refined wax and fully-refined wax. Through this chapter, readers can understand market attractiveness analysis based on type.
Chapter 9 – North America Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter includes detailed analysis of the growth of the North America market, along with country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, and market growth based on application, type and countries in North America.
Chapter 10 – Europe Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
Important growth prospects of the market in several countries such as Germany, the U.K., France, Spain, Italy, Russia, and the rest of Europe are included in this chapter.
Chapter 11 – APAC Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
Leading countries in the Asia Pacific region are prime subjects of assessment to obtain growth prospects of the Asia Pacific market in this chapter. Readers can find detailed information about growth parameters of the Asia Pacific paraffin wax market during the forecast period.
Chapter 11 – Central & South America Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter provides information about how the market is anticipated to grow in major countries across the Central and South American region during the forecast period.
Chapter 11 – MEA Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter provides information about how the paraffin wax market is anticipated to grow in major countries in the MEA region such as GCC countries, South Africa, Turkey, Northern Africa, and the rest of MEA during the forecast period.
Chapter 15 – Market Structure Analysis
In this chapter, readers can find detailed information about tier analysis and market concentration of key players in the market, along with their market presence analysis by region and product portfolio.
Chapter 16 - Competition Analysis
In this chapter, readers can find detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in this report are Royal Dutch Shell Plc, Lukoil, ExxonMobil Corp., Petrobras, H&R Group, Sasol Wax, Big West Oil LLC, Venezuela National Oil Company, International Group, Inc., Naftowax, Petro Canada Lubricants, and Marathon Oil Corporation.
Chapter 17 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the paraffin wax market report.
Chapter 18 – Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the paraffin wax market. The report focuses on paraffin wax consumed in the Chemicals & Materials industry.