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Wax Market worth $18.29 billion by 2030, growing at a CAGR of 6.71% - Exclusive Report by 360iResearch
Wax Market | 360iResearch
The Global Wax Market to grow from USD 11.60 billion in 2023 to USD 18.29 billion by 2030, at a CAGR of 6.71%.
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Waxes are a broad category of chemical compounds that are lipophilic, malleable solids at room temperature. They comprise higher alkanes and lipids with melting temperatures exceeding 40°C (104°F), which melt to form low-viscosity liquids. Waxes are soluble in nonpolar organic solvents such as hexane, benzene, and chloroform and insoluble in water. The emerging wax applications in diverse verticals, such as packaging, rubber, and candle manufacturing, enhance the market scope. However, fluctuating costs of raw materials and adverse environmental impacts may hamper the market development. Nevertheless, the rapid inclination toward natural bio-based waxes is expected to encourage their adoption across the end-use sectors.
The wax market has maintained a significant position in the Americas region due to increasing applications in the packaging, paint, and pharmaceutical industries, among others. The rapid increase in the automobile sector and increasing infrastructure spending are foreseen to drive growth in the region. Increased demand from the leading major industries, such as paint & coating, food packaging, cosmetics, and adhesive and sealants, are driving the use of wax in the APAC region. The personal care and cosmetic industry is expected to offer considerable growth opportunities for the market primarily due to the presence of cosmetic industries in the region. Growing demand from the end-user industries and increasing discoveries in biotechnology in natural adhesives are expanding the use of wax in the EMEA region. The market has significant growth potential owing to the expansion of the building & construction industry in developed & developing nations worldwide, coupled with the growing use of paints & coatings in the architectural sector for exterior and interior applications.
Market Segmentation & Coverage:
This research report categorizes the Wax Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product Type, market is studied across Natural Wax and Synthetic Wax. The Natural Wax is further studied across Fossil Wax and Non-Fossil Wax. The Fossil Wax is further studied across Montan Wax and Petroleum Wax. The Non-Fossil Wax is further studied across Animal Wax and Vegetable Wax. The Synthetic Wax is further studied across Fully Synthetic Wax and Partially Synthetic Wax. The Fully Synthetic Wax is further studied across Fischer Tropsch and Polymeric Wax. The Synthetic Wax is projected to witness significant market share during forecast period.
Based on Application, market is studied across Adhesive & Sealant, Candles, Coatings & Polishing, Cosmetics & Personal Care, Food, Packaging, Pharmaceuticals, and Tire & Rubber. The Adhesive & Sealant is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Wax Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Wax Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Wax Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Alfa Chemistry, ALTANA Group, Arya Chem Inc., AUS Wax Pty. Ltd., AWAX Group, BASF SE, Calumet Specialty Products Partners, L.P., CALWAX, Cepsa Comercial Petróleo, S.A.U., COSCHEM CO., LTD., Eni S.p.A., Evonik Industries AG, Exxon Mobil Corporation, H&R Group, HollyFrontier Corporation, Honeywell International, Inc., Ilumina Wax d.o.o., Indian Oil Corporation Limited, Innospec Inc., Kemipex, Lion Chemtech Co., Ltd., Lubrizol Corporation, Lukoil Company, Marcus Oil & Chemicals Private Ltd., Mitsui Chemicals, Inc., Nippon Seiro Co., Ltd., Petróleo Brasileiro S.A, Redox Ltd., Sanyo Chemical Industries Ltd., Sasol Ltd., SCG Chemicals Public Company Limited, Shell PLC, TER Chemicals GmbH & Co. KG, The Dow Chemical Company, The International Group, Inc., and Trecora Chemicals.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Wax Market, by Product Type
7. Wax Market, by Application
8. Americas Wax Market
9. Asia-Pacific Wax Market
10. Europe, Middle East & Africa Wax Market
11. Competitive Landscape
12. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Wax Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Wax Market?
3. What is the competitive strategic window for opportunities in the Wax Market?
4. What are the technology trends and regulatory frameworks in the Wax Market?
5. What is the market share of the leading vendors in the Wax Market?
6. What modes and strategic moves are considered suitable for entering the Wax Market?
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