Global Wax Market Analysis & Industry Forecast 2017-2023, With an Expected CAGR of 3.4% - ResearchAndMarkets.com

DUBLIN--()--The "Wax Market by Type and Application - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to ResearchAndMarkets.com's offering.

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.

Companies Mentioned:

  • Sason
  • ExxonMobil
  • Sinopec
  • 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

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Related Topics: Wax

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Wax