Industrial Wax Market Size - Industry Share Report 2026

Industrial Wax Market Size, Capacity, Trends, Outlook, Research, Analysis, Growth | Industry Report 2026 Market Research Report to It’s a Database.

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The industrial wax market is projected to reach USD 10.07 billion by 2021, at a CAGR of 4.5% from 2016 to 2021 and USD12.84 billion by 2026, at a CAGR of 4.7% from 2016 to 2026. With the better stabilization of global oil prices by 2020-2021, advances in synthetic wax manufacturing and the increased use of wax in corrugated packaging, it is estimated that industrial wax would depict slightly higher growth rates in the long term forecast.

Industrial wax performs better in candles, packaging and coatings & polishing applications than its substitutes, as it has good viscosity, moisture control, and lubrication properties. This has increased the demand for industrial wax for the candle, packaging and coating & polishing applications. The shrinking supply of paraffin wax, increasing prices of synthetic and bio-based wax, are the major restraints in the global industrial wax market.

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The industrial wax market in the tires & rubber segment is projected to grow at the highest rate during the forecast period. Industrial wax is added to compounds of rubbers and tires during the manufacture of the tire blends and flexes in order to protect the rubbers and tires from ozone and UV light. Wax is also applied on tires and rubbers to protect them from cracking.
The candle making application is estimated to be the largest application for industrial wax. This application is growing due to the increasing demand for fragrant candle products and decorative items. The use of candles for religious and therapeutic purposes has increased the market for candles manufactured from vegetable based materials. Industrial wax is preferred for the manufacture of candles as it exhibits good extrudability properties, and hence candles can be produced in all types of shapes and sizes.

Key Points From Table Of Content:

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 By Type
5.2.2 By Application
5.2.3 By Region
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Rising Demand From Applications Such as Candle, Tire& Rubber, and Coating & Polishes,
5.3.1.2 Increasing Acceptance of Synthetic Waxes
5.3.1.3 Technology Changes in the Wax Market
5.3.1.4 Growing Population and Increasing Per Capita Income in the Emerging Countries Such as India, China and Other Asian Countries
5.3.2 Restraints
5.3.2.1 Shrinking Supply of Paraffin Wax
5.3.2.2 Increasing Prices of Synthetic and Bio-Based Waxes
5.3.3 Opportunities
5.3.3.1 Growing Demand for Unconventional Waxes
5.3.3.2 Growing North American Imports of Industrial Wax
5.3.4 Challenges
5.3.4.1 to Meet the Growing Demand for Paraffin Wax
5.3.4.2 Declining Use of Fossil Based Wax in Packaging Industry in North America

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11 Company Profiles

11.1 Sinopec Corp.
11.1.1 Business Overview
11.1.2 Products & Services
11.1.3 Recent Developments
11.1.4 SWOT Analysis
11.1.5 MnM View

11.2 Royal Dutch Shell PLC
11.2.1 Business Overview
11.2.2 Products & Services
11.2.3 SWOT Analysis
11.2.4 MnM View

11.3 Petroleo Brasileiro S.A. (Petrobras)
11.3.1 Business Overview
11.3.2 Products & Services
11.3.3 SWOT Analysis
11.3.4 MnM View

11.4 Exxon Mobil Corp
11.4.1 Business Overview
11.4.2 Products Offered
11.4.3 MnM View

11.5 Sasol Ltd.
11.6 Oil Co. Lukoil PJSC
11.7 Numaligarh Refinery Ltd
11.8 HCI
11.9 The Blayson Group Ltd
11.10 International Group Inc.

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