Wax market 2018: Industry Analysis and Opportunity Assessment 2017– 2024

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Wax market to attain substantial proceeds by
2024, fueled by the growing demand for
eco-friendly products Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Wax market

• The last decade has witnessed wax market
  traversing along a modestly profitable growth
  path. This progression can indeed be aptly
  attributed to the products widespread
  application spectrum comprising adhesives,
  packaging solutions, and various cosmetics.
• Growth Drivers
• Growth drivers
• Increasing use of wax in cosmetics industry
• Product applications in food packaging industry
• Wax Market By Application
• Candles
• Packaging
• Wood fire-logs
• Rubber
• Adhesive
• Cosmetics
• Others

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Continued

• How wax market contenders have contributed to the
  growth of this business space, adhering to the
  mandated regulatory norms
• Researchers have unearthed that in many personal
  care and cosmetic products, microbeads are
  primarily used as a cleanser to scrub dead skin
  cells. However, these microbeads lead to
  ecological disbalance by impacting marine life
  and water suppliers.
• Considering the hazards that they pose to the
  ecological lifecycle, many renowned cosmetic
  manufacturing companies including Unilever,
  Johnson Johnson, and Procter Gamble have
  decided to stop the usage of microbeads in
  cosmetic products and are looking forward to
  using naturally formed wax alternatives. In
  addition, many candle manufacturing companies
  have also decided to use bio-based wax to
  manufacture candles.
• Say for example, in 2016, the U.S. based
  agricultural product supplier, Cargill Inc.,
  acquired the vegetable oil-based wax
  manufacturer, NatureWax. With this acquisition,
  Cargill has successfully expanded its reach in
  wax market capitalizing on the demand for
  bio-based products. In 2016, wax industry size
  from candle sales had been reported to
  substantially huge, owing to the massive demand
  from Europe and North America.

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Continued
Wax Market, By Region Asia Pacific held maximum
share in overall market in 2016, both, in terms
of revenue and volume. Rapidly growing packaging
manufacturing base in Asia Pacific, especially in
Japan, India and China has played a crucial role
in propelling product demand in past few years.
Cosmetics and adhesive end-user industries were
the highest contributors in terms of demand for
wax in 2016. Key Company Profiled in this
Research Report The global wax market is highly
concentrated, with the top five players
accounting for close to 70 of the industry share
in 2016. Some of the major players in the market
include China National Petroleum Corporation,
International Group, Inc., Exxon Mobil
Corporation, Sinopec Limited, Royal Dutch Shell
Plc, Lukoil, Total Petrochemicals and Petróleos
de Venezuela, SA.
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U.S. wax market size, by product, 2013 - 2024
(USD Million)

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