The Global Paraffin Wax Market Report, published by Emergen Research, offers an industry-wide assessment of the Paraffin Wax Market, which is inclusive of the most crucial factors contributing to the growth of the industry. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2022-2030.
The global paraffin wax market size is expected to reach USD 8.58 Billion in 2030 and register a steady revenue CAGR of 5.4% over the forecast period. A steady revenue growth of the paraffin wax market can be attributed to increase in demand from the beauty industry. Mineral oils such as paraffin, which come in a variety of forms, are frequently used in face creams and body lotions. Paraffin is utilized in beauty products as it is a less expensive technique to make skin feel hydrated. When heated and applied to the skin or joint area, paraffin wax has a long history of treating a wide range of physical ailments, including enhancing blood flow, lowering pain, and treating arthritis. Additionally, an emollient, paraffin aids in softening the skin. By opening pores, the heated wax also aids in retaining moisture, leaving hands feeling softer, smoother, and better than before. Paraffin wax also becomes hard when it cools. Dead skin and grime are removed from the skin along with the wax, making the hands smoother.
A recent trend in the market is the use of paraffin wax coated sand to replace plastic mulch in farmers’ fields. To help keep moisture in the soil, farmers frequently spread sheets of plastic along the rows of their crops. However, a recent study suggests that using paraffin wax-coated sand would be a more affordable and environmentally friendly option. As a result, a group at the King Abdullah University of Science and Technology (KAUST) in Saudi Arabia is looking into silica sand that has been covered in refined paraffin wax. Paraffin wax is not especially eco-friendly in its natural state, however, the "food-grade" wax the team uses has been refined and is biodegradable as well as non-toxic, so it should not affect the environment or build up there.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Paraffin Wax market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Some of the key participants in this industry include:
PetroChina Company Limited, Sinopec Group, Indian Oil Corporation Ltd., Sasol Limited, Exxon Mobil Corporation, The International Group, Inc., Petrobras, Petro-Canada Lubricants Inc., Nippon Seiro Co., Ltd., and Repsol S.A.
The global Paraffin Wax market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Paraffin Wax market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Paraffin Wax market.
Segments Covered in this report are:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Fully Refined Wax
- Semi-refined Wax
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Candles
- Packaging
- Board Sizing
- Rubber
- Hot Melts
- Cosmetics
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- Israel
- Rest of MEA
- North America
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Regional Landscape section of the Paraffin Wax report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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