Dublin, Jan. 18, 2021 (GLOBE NEWSWIRE) -- The "Industrial Wax Market by Type (Fossil-based wax, Synthetic wax, Bio-Based wax), Application(Candles, Packaging, Coatings & Polishes, Hot-melt Adhesives, Tires & Rubber, Cosmetics & Personal Care, Food), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The industrial wax market was USD 8,152.1 million in 2019 and is projected to reach USD 8,943.8 million by 2025, at a CAGR of 4.0% from 2020.
Industrial wax is an organic substance, which is either whitish or yellowish, hydrophobic solid at room temperature, and is a free-flowing liquid at a slightly higher temperature. The melting point of the wax is dependent on its chemical composition.
Waxes are insoluble in water but are soluble in nonpolar solvents. They have a complex composition with its major proportion of hydrocarbons containing more than 20 carbon atoms. Industrial waxes can be broadly classified into fossil-based, synthetic, and bio-based waxes. More than 70% of the industrial waxes used globally are based on petroleum feedstock.
The industry is growing steadily toward the use of bio-based waxes and synthetic waxes with the decreasing supply from manufacturers of paraffin wax. Synthetic wax is a better option to fill the demand-supply gap in the industrial wax market. The bio-based waxes have a specific demand from specific applications such as food, cosmetics, and personal care.
COVID-19 outbreak has significant impact on most of the North American and European countries, especially the U.S., Italy, Spain, the UK, France, and Germany. The impact was further intensified by declining oil and gas prices. The suspension of manufacturing activities and disruption of the supply chain has resulted in a decline for industrial wax from these countries. Further, declining demand for cosmetics, candles, and consumer products across the globe wherein the waxes are used has resulted in a slump in industrial wax demand across the globe.
The leading players in the industrial wax market include ExxonMobil (US), Royal Dutch Shell (Netherlands), Sinopec (China), Sasol (South Africa), CNPC (China), and HollyFrontier (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Overview
4.1. Introduction
4.2. Forecast Impact Factors
4.2.1. COVID 19 Impact Analysis
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Challenges
4.3.4. Opportunity
4.4. Porter's Five Forces Analysis
4.5. Ecosystem Market Map
4.6. Supply Chain and Value Chain Analysis
4.6.1. Disruption Due to COVID19
4.7. Regulatory Landscape
4.8. Technology Analysis
4.9. Patent Analysis
4.10. Average Selling Price Analysis
4.11. YC, YCC Shift
4.12. Macroeconomic Indicators
4.13. Trade Data Analysis Key exporting and importing countries
4.14. Adjacent markets
4.15. Case Study
5 Industrial wax Market, By Type - Forecast till 2025 (Volume and Value)
5.1. Introduction
5.2. Fossil-based waxes
5.2.1. Mineral Wax
5.2.2. Paraffin Wax
5.2.3. Microcrystalline Wax
5.3. Synthetic waxes
5.3.1. Fischer-Topsch Wax
5.3.2. Other
5.4. Bio-based waxes
6 Industrial wax Market, By Application - Forecast till 2025 (Volume and Value)
6.1. Introduction
6.2. Candles
6.3. Packaging
6.4. Coatings & Polishing
6.5. Hot Melt Adhesive
6.6. Tire & Rubber
6.7. Cosmetics & Personal Care
6.8. Food
6.9. Others
7 Industrial wax Market, By Region - Forecast till 2025 (Volume and Value)
8 Competitive Landscape
8.1. Overview
8.2. Market Evaluation Framework
8.3. Market Share Analysis / Industry Tier Structure
8.4. Revenue Analysis of Top Players
8.5. Key Market Development
8.5.1. Expansions
8.5.2. Acquisitions
8.5.3. New Product launches
8.6. Company Evaluation Matrix Definition and Methodology
8.6.1. Product Footprint
8.6.2. Star
8.6.3. Emerging Leader
8.6.4. Pervasive
8.7. Company Evaluation Matrix, 2019
9 Company Profiles
- CEPSA
- Calumet Specialty Products Partners, L.P.
- China National Petroleum Corporation
- Evonik Industries
- Exxon Mobil Corp
- Gandhar Oil Refinery
- HCI
- HollyFrontier Corporation
- International Group Inc.
- Kerax Ltd
- Koster Keunen
- Numaligarh Refinery Ltd
- Oil Co. Lukoil PJSC
- Petroleo Brasileiro S.A. (Petrobras)
- Royal Dutch Shell PLC
- SINOPEC
- SIWAX Group
- Sasol Ltd.
- The Blayson Group Ltd
- The Darent Wax Company
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