Paraffin Wax
Paraffin wax is a soft colorless solid, derived from petroleum, coal or shale oil, that consists of a mixture of hydrocarbon molecules containing between twenty and forty carbon atoms. Common applications for paraffin wax include lubrication, electrical insulation, and candles; dyed paraffin wax can be made into crayons. It is distinct from kerosene and other petroleum products that are sometimes called paraffin.
Market trend Snapshot
Global Paraffin Wax market was valued at 5,611 million USD in 2019 and projected to reach 7,334 million USD by 2026, growing at a CAGR of 3.9%. This report provides comprehensive and in-depth analysis and prediction of the Paraffin Wax industry.
The Paraffin Wax market growth is primely attributed to the increasing demand for Paraffin Wax from flexible packaging and candle manufacturing and rising consumption of these products as a rheology modifier, electrical insulator, friction reducer, plasticizer, and flame retardant are factors that propelling the Paraffin Wax market growth. Furthermore, growing demand for aromatherapy and consumer awareness regarding home ambiance is expected to drive the requirement of fragrance waxes, which in turn is expected to give impetus to market growth.
From Base year 2018 to forecast year 2026
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Key Market Players Profile
Key market players covered in the report such as CNPC, Exxon Mobile, Sinopec, Shell, Sasol, LUKOIL, PDVSA, Petrobras, ENI, Cepsa, MOL, Nippon Seiro, IGI, Calumet, Samir, HollyFrontier, and Hansen & Rosenthal. These players’ market share, revenue, company profile, and SWOT analysis are covered in the Paraffin Wax report. In the future, production and consumption are estimated to continue developing with a stable growth rate. As a result of meeting the surging demand, more manufacturers are expected to go into this industry.
Asia Pacific holds the largest Paraffin Wax market share
The report covers the major countries analysis in North America, Europe, Asia Pacific, and the rest of the world. Furthermore, policy mobilization, social dynamics, fashion trends, and economic development in these countries are also taken into consideration.
The Asia Pacific dominated the Paraffin Wax market with a share of 36% and expected to maintain dominance during the forecast period. The increasing need for hotmelt adhesives in countries including China, Taiwan, Australia, India, and South Korea for packaging and woodworking is anticipated to stimulate the Paraffin Wax market growth. China is one of the leading exporters of paraffin wax owing to the presence of large-scale companies including Sinopec and PetroChina. In addition, high investments by several Indian refineries including Chennai Petroleum Corporation Limited and Numaligarh Refinery Limited to expand their wax production capacities are expected to stimulate industry growth. North America was the second largest market with a share of 33% and projected to witness a growth during the predicted years owing to high demand for fragrance candles along with rapidly growing cosmetic, pharmaceuticals, and packaged food & beverage in the U.S. and Mexico.
Paraffin Wax Type and Application Sketch
By type
By application
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Paraffin Wax Report provides
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Paraffin Wax Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Paraffin Wax Market by Types
4 Segmentation of Paraffin Wax Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Paraffin Wax Market in Major Countries
7 North America Paraffin Wax Landscape Analysis
8 Europe Paraffin Wax Landscape Analysis
9 Asia Pacific Paraffin Wax Landscape Analysis
10 Latin America, Middle East & Africa Paraffin Wax Landscape Analysis
11 Major Players Profile
11.1 CNPC
11.1.1 CNPC Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Exxon Mobile
11.3 Sinopec
11.4 Shell
11.5 Sasol
11.6 LUKOIL
11.7 PDVSA
11.8 Petrobras
11.9 ENI
11.10 Cepsa
11.11 MOL
11.12 Nippon Seiro
11.13 IGI
11.14 Calumet
11.15 Samir
11.16 HollyFrontier
11.17 Hansen & Rosenthal
…
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