Paraffin Wax Market, By Application (Candles, Packaging, Cosmetics, Hotmelts, Board Sizing, Rubber and Others),registering a CAGR of 5.80%

Over the last few years, the paraffin wax market has grown steadily. Paraffin wax will continue to be widely used in the production of candles. Moreover, due to its benefits such as durability, waterproofing, and cost-effectiveness, paraffin wax is now commonly used to manufacture waterproof tarpaulin, which is widely used to protect or cover crops and vehicles. Therefore, high utilization further boosts the popularity of paraffin wax across the industries, thus resulting in positive outlook for the market.

Global Paraffin Wax Market was valued at USD 5.19 billion in 2021 and is expected to reach USD 8.16 billion by 2029, registering a CAGR of 5.80% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

View Detailed REport: https://www.databridgemarketresearch.com/reports/global-paraffin-wax-market

Market Definition

Paraffin wax is a colorless, soft solid derived from petroleum, coal, or oil shale as a byproduct of the oil purification process. It is derived from the dewaxing process of crude oil and then further processed for use in products. Paraffin wax is made up of a mixture of hydrocarbon molecules with 20 to 40 carbon atoms. Paraffin candles that have not been dyed or scented are odorless and bluish-white in color. It is water insoluble but soluble in ether, benzene, and certain ethers. The feedstock for paraffin wax is slack wax, which is a mixture of oil and wax.

Some of the major players operating in the paraffin wax market are

BASF SE (Germany)

Clariant (Switzerland)

Numaligarh Refinery Limited (India)

Trecora Resources (U.S.)

Indian Oil Corporation Ltd (IOCL) (India)

Goyel Chemical Corporation (India)

Nippon Seiro Co., Ltd. (Japan)

AVERY DENNISON CORPORATION (U.S.)

Marcusoil (U.S.)

Mitsui Chemicals, Inc., (Japan)

3M (U.S.)

Sika AG (Switzerland)

Honeywell International Inc.,(U.S.)

Westlake Corporation (U.S.)

CPCL (India)

Innospec (U.S.)

Paraffin Wax Market Scope

The paraffin wax market is segmented on the basis of application, product type and form. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

Candles

Packaging

Cosmetics

Hotmelts

Board Sizing

Rubber

Others

Product Type

Fully-Refined Paraffin Wax

Semi Refined Paraffin Wax

Others

Form

Liquid Paraffin Wax

Solid Paraffin Wax

Others

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