The global Industrial wax market size is projected to reach USD 9.1 billion by 2026 at a CAGR of 4.2% from USD 7.5 billion in 2021 during the forecast period 2021-2028.
Bio-based wax demand is growing in packaging, cosmetic, food, various applications, due to environmental policies in developed regions like North America and Europe. Growing population and high gross domestic product growth rates in countries like India, China, and different Asian countries boost the Industrial wax market.
Growing demand for the cosmetics & personal care products, and increased adoption of waxes in the tire & rubber market are some of the factors that have supported long-term expansion for Industrial wax Market.
The manufacturing activities have been interrupted and the disturbed supply chain has resulted in a decline for industrial wax in major countries such as U.S., UK, Germany, and France. Moreover, decreased demand for cosmetics, candles, and consumer products across the globe has weakened the demand for wax market.
Asia-Pacific holds the largest share in the industrial wax market due to growing economies such as Japan, China, India, and other APAC countries namely Indonesia, and South Korea.
Insights are provided for each region and major countries within the regions
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Report Feature |
Descriptions |
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Market Revenue In 2021 |
USD 7.5 billion |
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Growth Rate |
CAGR of 4.2% during the forecasting period, 2021-2028 |
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Historical Data |
2018-2019 |
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Forecast Years |
2021-2028 |
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Base Year |
2020 |
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Units Considered |
Revenue in USD million and CAGR from 2021 to 2028 |
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Report Segmentation |
Type, Application, and Geography |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
ExxonMobil, Royal Dutch Shell PLC, Sinopec, Sasol Ltd, CEPSA, Hollyfrontier Corporation, Calumet, Specialty Products Partners, Gandhar Oil refinery, Numaligarh Refinery Limited, Petróleo Brasileiro, THE PJSC Lukoil Oil Company |
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Available Customization |
In addition to the market data for Industrial wax Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Industrial wax Market is segmented into type, application, and geography.
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