Global Wax Market Size, Share, Development, Growth and Demand Forecast to 2020 – Industry Insights by Type (Petroleum and Mineral Wax, Synthetic Wax and Natural Wax) by Application (Candles, Packaging, Rheology/Surface Applications, Board Sizing, Health Industries, Cosmetics and Others)

  • Published: December 2015
  • Report Code: CM10128
  • Available Format: PDF
  • Pages: 138

In 2014, the global wax market stood at $7,939.6 million which is projected to witness a prominent growth at a CAGR of 3.5% during the forecast period. This growth is ascribed to the factors including the growth in the base of end-user industries followed by the rise in demand of natural waxes.

Waxes are majorly organic compounds which can have properties like malleability at room temperature and become low viscous or free-flowing fluid at higher temperature. Their chemical compositions are very complex, as they are mixtures of fatty acids and heavy hydrocarbons combined with esters. In addition, waxes have several categorizations, based on their properties, including viscosity, hardness, melting point, colour, and others. And, waxes are used for several functions, including dispersing agent and binder, viscosity regulation, surface treatment and emulsifier, moisture control, and extrudability & moldability. Major chunk of wax produces from crude oil, natural gas, lignite, animals, insects, and vegetables.


Based on the type of wax, synthetic wax is anticipated to witness the highest growth (4.9% CAGR) in terms of value during the forecast period, in the global market of wax. Within the synthetic wax type, GTL wax has shown the highest growth rate in the historical period among all synthetic wax types in the global market. GTL wax is produced during the process of natural gas conversion into liquid fuel. GTL wax is produced by Fischer-Tropsch process, which involves the conversion of syngas into paraffinic compounds, such as wax.

In addition to that, the candles segment accounted for the largest demand generating application with 1,976.5 kilotons volume in 2014 which is anticipated to reach 2,321.4 kilotons by 2020, with a CAGR of 2.7% during the period forecast period. Further, Asia-Pacific (APAC) held the largest market share in the global market by accounting for the consumption of 1,579.6 kilotons in 2014, followed by the North American wax market which valued at $2,467.9 million in 2014.

The increase in the demand for natural wax and large scale of end-use industries are impacting the growth of the wax market positively. The demand for animal and vegetable waxes in the healthcare and cosmetic industries, is continuously growing owing to various advantages of waxes, such as renewability, sustainability, biodegradability, petroleum free content, high melting point, and other eco-friendly attributes. Further, the close down of Group-I base oil refineries in several countries has been tightened the wax supply globally, which is restraining the growth in the wax demand globally.

Globally, the key market players in the wax market include the Exxon Mobil Corporation, China National Petroleum Corporation, Sasol Limited, Royal Dutch Shell PLC, Petróleo Brasileiro S.A., Evonik Industries AG, The Lubrizol Corporation, Akzo Nobel N.V., Honeywell International Inc., and Hexion Inc.

Key Questions Answered:

  • What is the current and future scenario of the global wax market?
  • What are the major factors driving the global wax market?
  • What are the upcoming opportunities for the players in the global wax market?
  • Which major wax type is expected to dominate the market during the forecast period?
  • Which region is expected to witness the fastest growth during the study period?
  • Who are the major players in the global wax market?
  • What are the key strategies adopted by major players in the global wax market?
Place An Order
USD 4900 USD 5900 USD 7500
Customized Report Solution

Get a bespoke market intelligence solution

We are committed to ensuring the highest level of client satisfaction
Quality Acknowledgement
Quality Acknowledgement

Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you

Unmatched Standards
Unmatched Standards

Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights

Reach Us
Reach Us Whenever You Need Us

With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required

Data Security
Complete Data Security

We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws