The global demand for Petroleum Wax Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XX Kilo Tons in 2019 and foreseen to touch XX Kilo Tons by 2026 with a CAGR of XX% during 2020-2026.
Petroleum Wax is a white soft solid derived from petroleum and comes in different forms like petroleum jelly, paraffin wax and microcrystalline wax. The major portion of the wax is used in making candles. Candles are gaining momentum in the hospitality sector because of their use in aromatherapy. It is used in cosmetics, laboratories, as coatings or additives in food products, in the manufacture of crayons and in the textile and leather industry. The wax finds high degree industrial applications like lubrication and insulation of machinery. It is not a sustainable commodity since it is manufactured from a non-renewable resource.
The growing demand for candles for use in aromatherapy is the important driver for the petroleum wax market. growing demand for cosmetics and fragrances will boost the growth of this market. The increased consumption of packaged foods and the need to enhance the aesthetics of food products like fruits and vegetables for better sales will boost market growth. The major therapeutic benefits of this wax for treating conditions like arthritis, fibromyalgia and other pains will be a market booster. The market for petroleum wax will see a positive impact due to its use in pathological laboratories during COVID-19 pandemic. The main concern for the growth of this market is the volatility of the price of raw materials.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of petroleum wax.
The entire petroleum wax market has been sub-categorized into application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Board Sizing
This section covers regional segmentation which accentuates on current and future demand for petroleum wax market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Petroleum Wax Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the petroleum wax market include PetroChina Company Limited, Sinopec, IOCL, Sasol, ExxonMobil, International Group, Inc., Petrobras, Petro-Canada, Nippon Seiro Co., Ltd., Repsol, H&R Group, Frontier Wax, CEPSA, Calumet Specialty Products Partners, L.P., Ergon, Inc. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.