Industrial wax market is anticipated to grow at a CAGR of 4.2% during the forecast period. The increasing application of industrial wax in different industrial applications is one of the key factors driving the growth of the market. Industrial wax refers to an organic substance utilized in varied industrial applications as an important constituent within a wide range of products. Increasing strategic associations among several end-users may create a huge demand for raw materials, such as petroleum waxes, bio-based waxes, and synthetic waxes.
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The production and processing of synthetic wax pose a major challenge for production facilities. Waxes come with the risk of dust explosion and temperature sensitivity – even slight temperature fluctuations during production or processing can have a significant effect on the quality of the end product. Declining usage of paraffin wax in the packaging application may restrain the growth of the global industrial wax market.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Industrial Wax Market, By Type
- Fossil Based Wax
- Synthetic Wax
- Bio-Based Wax
Global Industrial Wax Market, By Application
- Candles
- Packaging
- Coatings & Polishing
- Hot Melt Adhesives
- Cosmetics & Personal Care
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Calumet Specialty Products Partners
- CEPSA
- ExxonMobil Corp.
- Gandhar Oil refinery
- Hollyfrontier Corp.
- Numaligarh Refinery Ltd.
- Petróleo Brasileiro
- Royal Dutch Shell plc
- Sasol Ltd.
- Sinopec
- THE PJSC Lukoil Oil Co.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global industrial wax market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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