USD 1.02 Bn growth in Wax Market, Demand For Synthetic and Bio-based Waxes to Boost Growth – Technavio – QNT Press Release

NEW YORK, Sept. 5, 2022 /PRNewswire/ — The Wax Market size is expected to grow by USD 1.02 billion during 2020-2025, at a CAGR of 2.14% during the forecast period, according to Technavio.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BASF SE, China National Petroleum Corp., Clariant International Ltd., Exxon Mobil Corp., General Electric Co., Hansen and Rosenthal GmbH and Co. KG, Honeywell International Inc., Mitsui Chemicals Inc., Royal Dutch Shell Plc, and Sasol Ltd. are some of the major market participants.

The wax market anticipated growth driven by the rising cosmetic sector, implementation of wax in food products and flexible food packaging will offer immense growth opportunities. However, fluctuation in the prices of crude oil, a shrinking supply of paraffin wax, and increased use of cold flow improvers in petroleum refining will challenge the growth of the market participants.

To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request Free Sample Report.

Wax Market Segmentation
  • Application
    • Candle
    • Packaging
    • Rubber
    • Personal Care
    • Others
  • Geography
    • APAC
    • North America
    • Europe
    • South America
    • MEA

Learn more about the additional trends impacting the future of the market and the positive and negative consequences on the businesses, Buy Sample Report.

Wax Market Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our wax market report covers the following areas:

  • Wax Market size
  • Wax Market trends
  • Wax Market industry analysis

This study identifies the growing demand for synthetic and bio-based waxes as one of the prime reasons driving the wax market growth during the next few years. download a free sample report.

Wax Market Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Wax Market, including some of the vendors such as vendors Backed with competitive intelligence and benchmarking, our research reports on the Wax Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

  • China National Petroleum Corp.
  • Clariant International…

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