About Paraffin Wax
Paraffin Wax is Derived From Petroleum, Coal or Oil Shale Derived Product Produced When Crude Oil is Refined Into Gasoline. It is a White or Colourless, Tasteless, Odourless Soft or Waxy Solid. It is Solid at Room Temperature, Insoluble in Water, Burns Readily & Begins to Melt at a Temperature above 99 Degree Fahrenheit. It is an Excellent Electrical Insulator & an Excellent Material for Storing Heat. Paraffin Wax Has A Number of Industrial Applications. It is Also Used in Pathological Laboratories
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
CAGR | 4.9% |
The Market for the Paraffin Wax is Fragmented with the Presence of Many Players. Due to Booming Industrialization, there are Growing Prospects for the New Players to Enter the Market Analyst at AMA Research estimates that North American Vendors will contribute the maximum growth to Global Paraffin Wax market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
China National Petroleum Corporation (China), ExxonMobil (United States), Sasol (South Africa), The International Group, Inc. (Canada), Honeywell (United States), Petro-Canada (Canada), Kerax Limited (Canada), H&R Group (Germany), Numaligarh Refinery Limited (India) and Repsol (Spain) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Indian Oil Corp Ltd (India), Eagle Petrochem (Australia), Eagle Petrochem (Switzerland), Paraffinwaxco Inc. (Turkey) and Pon Pure Chemical India Private Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global Paraffin Wax market by Type (Fully Refined Wax, Semi-refined Wax and Others), Application (Candles, Packaging, Cosmetics, Rubber, Adhesives and Others) and Region.
On the basis of geography, the market of Paraffin Wax has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Paraffin Wax market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Appearance, the sub-segment i.e. Sheets will boost the Paraffin Wax market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Paraffin Wax Market Dynamics:
Attributes | Details |
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Growth Drivers | - Growth in the Cosmetics Industry, Utilizing Paraffin Wax for Producing Creams, Lipsticks, Ointments, & Personal Care Products
- Rise in the Popularity of Aromatherapy Centres Using Candles Manufactured From Paraffin Wax
- & Rise In Consciousness About Home Aesthetics
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Influencing Trends | - Rising Applications of Paraffin Wax in Paints & Coatings Industry, Especially in Growing Economies Like India, China, & Brazil
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Restraints | - Fluctuation in Prices of Crude Oil
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Road Blocks / Challenges | - Market Presence of Alternative Waxes Like Beeswax May Pose a Challenge
- Strict Government Regulations Against Particulate Emissions by Burning of Paraffin Wax
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Gaps & Opportunities | - There is an Increased Opportunity for the Market Expansion, Owing to Rising Applications of Paraffin Wax in the Food Packaging Industry
- There are Prospects for the Growth of Paraffin Wax, Due to the Increase in Demand for Hot Melt Adhesives
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Key Target Audience
Manufacturers of Paraffin Wax, Distributors, Traders, & Suppliers, Importers & Exporters, Investors, Regulatory & Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.