Market Research Analysis Industrial Wax Market Segmentation and Analysis | Página 2

Industrial waxes can be fossil based waxes, synthetic waxes, and bio based waxes. Fossil based waxes are further
classified as mineral waxes (Montan Wax – Lignite/Brown Coal, and Ozokerite) and petroleum waxes (“Paraffin wax”
are long chain alkanes and microcrystalline wax). Synthetic waxes can be Fischer-Topsch waxes (GTL, CTL, BTL) or Poly-
Olefin/Alpha-Olefin waxes. Bio based waxes can be animal waxes (Lanolin, Chinese Wax, Tallow, Beeswax) or vegetable
waxes (Carnauba wax, Candelilla wax)
The industrial wax market is segmented on the basis of type, application, and the geographical region. The segments
based on type are synthetic based, fossil based, and bio based. Applications of industrial wax are hot melt adhesives,
packaging, candles, coatings and polishing, food, cosmetics and personal care. The geographical regions for this market
are Asia Pacific, Europe, North America, South America, and Middle East & Africa.
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Fossil based waxes currently ace the market are deemed to dominate over the forecast period too. This can be
attributed to the prolific use of mineral wax and petroleum wax for coating commercial products. Fossil based waxes
are derivatives of crude oil refining processes. They are clinically proven to be safe for use in cosmetics. Glossy
characteristic of petroleum waxes makes them suitable as a constituent for polishes. Candles application accounts for
the largest market share due to the use of industrial wax for making candles. Due to characteristics like extrudability
and moldability, industrial wax can be used for making candles of various shapes and sizes.
The industrial wax market region in Asia Pacific region is currently on the forefront and is expected to reach the high
water mark in terms of CAGR in the forecast period. The increasing demand from end user industries in the emerging
markets of Asia Pacific region is driving market growth. Japan currently holds the largest number of patents for
industrial wax. China leads the market globally, while India is projected to grow exponentially in foreseeable future.
North America witnessed a shrinking supply of Paraffin wax due to decrease in local production. This has resulted in a
steady decline in the packaging application in this region and rise in the number of imports of wax. European markets
have high demand for natural waxes due to regulations regarding the use of Paraffin waxes in food packaging industry.
Both, Europe and North America have huge demand for Paraffin wax in the candle making process.Key players in the
industrial wax market are Exxon Mobil Corp, HCL, International Group Inc, Sasol Ltd, Numaligarh Refinery Ltd, The
Blayson Group Ltd, Oil Co Lucoil PJSC, Petroleo Brasileiro SA, Sinopec Corp, Royal Dutch Shell PLC, and International
Group Inc.
Market Segment:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million
USD), market share and growth rate of Industrial Wax in these regions, from 2013 to 2025 (forecast), covering
• North America