Wax Market Report 2023: Industry Overview, Size, Share, Growth & Forecast till 2028

Global Wax Market Overview 2023-2028

The global wax market size reached US$ 10.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.

Wax is a type of organic compound that is solid at room temperature but can melt or liquefy when heated. It is a mixture of various long-chain hydrocarbons, typically consisting of fatty acids, esters, and alcohols. It is derived from different natural sources, including plants, animals, and minerals. It is insoluble in water and soluble in organic and non-polar solvents. It is utilized to produce candles, coatings, adhesives, cosmetics and personal care products, rubber, and automotive polishes.

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Global Wax Market Trends and Drivers:

Wax is employed in the cosmetics and personal care industry for products, such as lipsticks, creams, lotions, and hair care products. Along with this, the increasing sales of personal care and cosmetic products represent one of the primary factors bolstering the market growth around the world. In addition, the rising use of wax in the packaging industry to provide moisture resistance and protection and enhances the appearance of packaging materials is favoring the growth of the market. Moreover, the growing popularity of candles for home decor, aromatherapy, and ambiance is catalyzing the demand for wax worldwide. Apart from this, the increasing usage of wax as an ingredient in the formulation of adhesives and sealants to enhance their adhesive properties, flexibility, and moisture resistance is strengthening the market growth.

Global Wax Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: Baker Hughes Company, BASF SE, Cepsa, China Petrochemical Corporation, Eni S.p.A., Evonik Industries AG, Exxon Mobil Corporation, HF Sinclair Corporation, Honeywell International Inc., Mitsui Chemicals Inc., Nippon Seiro Co. Ltd., Sasol Limited and Shell plc.

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The report segmented the market on the basis of region, type, form and application.

Breakup by Type:
• Mineral Wax
• Synthetic Wax
• Natural Wax
• Others

Breakup by Form:

• Flakes
• Granules
• Powder
• Others

Breakup by Application:

• Candles
• Cosmetics
• Packaging
• Emulsions
• Hot Melts
• Floor Polishes
• Others

Breakup by Region:

• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

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If you want the latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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