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Industrial Wax Market 2019 Report analyses the industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2026. A detailed analysis of the key industry players has been done to provide insights into business overviews, products,key strategies, and recent developments associated with the market.
The Industrial Wax Market size is estimated at US$ 9.8 Billion in 2018 and is projected to reach US$ 14.3 Billion by 2026, at a CAGR of 4.8%.
Most Popular Companies Profiled in this report includes, Sinopec (China), Royal Dutch Shell (Netherlands), Petroleo Brasileiro (Brazil), Exxon Mobil (US), Sasol (South Africa), Oil Co. Lukoil PJSC (Russia), Numaligarh Refinery (India), HCl (China), The Blayson Group (UK) and International Group (Canada).
“The Synthetic-based waxes type is projected to register the highest CAGR during the forecast period.”
The Synthetic-based waxes type is projected to witness the highest growth rate during the forecast period. Synthetic based waxes include Fischer-Tropsch (FT) and poly-olefin waxes/alpha-olefin waxes that are obtained from natural gas or ethylene. These waxes can be easily modified to meet specific performance/characteristics required by the end-use applications.
“The Market in the candles application to account for the largest share during the forecast period.”
Industrial Wax is mainly used in three applications, namely, candles, packaging, and coatings & polishes. The candles application is one of the oldest and major applications of industrial wax. Industrial wax is preferred for making candles due to its properties, such as mold ability and extrudability. These properties of industrial wax enable the making of candles in all types of shapes and sizes.