Wax Market was valued US$ 8.24 Bn in 2019 and is expected to reach US$ XX Bn by 2026 at a CAGR of about XX % during a forecast of 2019 to 2026.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

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Robust expansion of packaging industry will be a vital factor responsible for driving wax market growth during forecast. Increasing usage of paraffin wax in candles, rubber & plastic, and personal care industry is anticipated to impel growth of wax market. Technological improvements in paint & coating industry coupled with cosmetics, printing inks, pharmaceuticals and adhesives in emerging nations will further boost the wax market. Side effects of paraffin wax candle like migraines or asthma attacks may restrain the market growth in the forecast period.

Based on type, the wax market is segmented into paraffin/mineral wax, synthetic wax, and natural wax. Paraffin wax is expected to grow at the CAGR of XX% during the forecast period due to its wide use in cosmetic, detergents, rubber solutions, aerosol formulation, adhesives, household cleaners, tire manufacturing, and wood treatment applications. Synthetic wax accounted for the XX% market share in 2018. Natural wax is predicted to show steady growth owing to its eco-friendly nature.

Based on the application, the wax market is segmented into candles, packaging, emulsions, hot melts, floor polishes, and others. Candle segment is projected to expand at the CAGR of XX% over the upcoming period. Growing demand for perfumed and decorative candles for festive and special occasion for aesthetic purpose is anticipated to drive the demand for the wax over the forecast period. Packaging segment followed the candle market. Wax use in packaging offers water and water vapor resistance, gas and odour barrier, improved process efficiency.

Region- wise, the wax market into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. In terms of both volume and revenue, Asia Pacific accounted for the XX% market share of the global wax market in 2018. Demand for wax is also high from candles, adhesives, packaging, and cosmetics industries in Asia Pacific. China remains the largest supplier of wax, more specifically the petroleum-based waxes worldwide. North America and Europe is estimated to register a moderate growth of the wax market.

Key Players of the wax market include BASF SE, The International Group, Inc., Baker Hughes Incorporated, Evonik Industries AG, Mitsui Chemicals and Sasol NA Limited. Royal Dutch Shell plc., Exxon Mobil Corporation, BP plc., The Lubrizol Corporation, Akzo Nobel NV, Honeywell International Inc., Archer Daniels Midland Company, Cargill, Inc, China National Petroleum Corporation, International Group, Inc., Sinopec Limited, Royal Dutch Shell Plc, Lukoil, Total Petrochemicals and Petróleos de Venezuela, SA.

The objective of the report is to present a comprehensive analysis of Global Wax Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Wax Market dynamics, structure by analyzing the market segments and project the Global Wax Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Wax Market make the report investor’s guide.
Scope of the Wax Market: Inquire before buying

Wax Market, By Type:

• Paraffin/Mineral Wax
• Synthetic Wax
• Natural Wax
Wax Market, By Application:

• Candles
• Packaging
• Emulsions
• Hot Melts
• Floor Polishes
• Others
Wax Market, By Region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players in the Wax Market:

• BASF SE
• Baker Hughes Incorporated
• Evonik Industries AG
• Mitsui Chemicals
• Sasol NA Limited
• Royal Dutch Shell plc.
• Exxon Mobil Corporation
• The Lubrizol Corporation
• Akzo Nobel NV
• Honeywell International Inc.
• Archer Daniels Midland Company
• Cargill, Inc
• China National Petroleum Corporation
• Total Petrochemicals
• Petróleos de Venezuela, SA.
• National Petroleum Corporation
• Sinopec Limited.
• HollyFrontier Corp.
• BP PLC
• Nippon Seiro Co., Ltd.
• International Group Inc. (IGI)
• Evonik Industries AG
• CEPSA
• Calumet Specialty Products Partners

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