DUBLIN--(BUSINESS WIRE)--The "Wax
Market by Type and Application - Global Opportunity Analysis and
Industry Forecast, 2017-2023" report has been added to ResearchAndMarkets.com's
The global wax market was valued at $9,322 million in 2016, and is projected to reach at $11,780 million by 2023, registering a CAGR of 3.4% from 2017 to 2023.
Waxes are a mixture of hydrophobic organic materials that turns into solid state at a temperature of 20C, and melts at temperature higher than 40C up to 140C. Wax offers superior resistance towards temperature. The key sources of producing wax are petroleum, plants, animals, and natural gases. Paraffin/mineral wax, synthetic wax, and natural wax are the three types of waxes available in the market.
High adoption rate of waxes in the packaging applications and their superior properties such as heat and water resistance make them suitable for use in hot melts, emulsions, and candles, which act as the major drivers of the global wax market. Moreover, increase in use of wax as a raw material for several cosmetics products boosts the market growth. However, high cost of synthetic and natural wax restricts the growth of the market.
Based on application, the market for wax is divided into candles, packaging, emulsions, hot melts, floor polishes, and others. The candles application was the highest revenue contributor in 2016, accounting for around three-fifths share. This is attributed to increased use of candles in hotels, spa, and other buildings for aromatherapy.
By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America generated the highest revenue in 2016, accounting for $2,885 million, owing to development of the cosmetic industry.
- PetroChina Company Limited
- The International Group
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Wax Market, By Type
Chapter 5: Global Wax Market, By Application
Chapter 6: Wax Market, By Geography
Chapter 7: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/w9t7xb/global_wax_market?w=4