The recent report titled “The Wax Market” and forecast to 2027 published by The Insight Partners is a focused study encompassing the market segmentation primarily based on type and application. The report investigates the key drivers leading to the growth of the Wax market during the forecast period and analyzes the factors that may hinder the market growth in the future. Besides, the report highlights the potential opportunities for the market players and future trends of the market by a logical and calculative study of the past and current market scenario.
Waxes are often industrially utilized for coatings, as components of complex formulations. Waxes imparts paints with matting effects and wear resistance. Waxes are used as finishes and coatings for wooden products. Waxes are soluble in organic, non-polar solvents. These are mostly used in making candles. Waxes find numerous applications in cosmetic industry where these are utilized in making lipsticks, mascara, and others, being a natural ingredient.
The report features the market study across five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. It includes country-wise analysis as well as the PEST analysis for these major regions. The impact of the political, economic, social, and technological factors on the market across these regions help in giving insightful knowledge of the favorable and unfavorable conditions for the major market players including manufacturers, investors, and shareholders.
The market study also covers the critical details on the positions and hold of the influence of the top ten players on the market. It provides detailed analysis of these global players covering their market share, financial statements for last three years, recent developments and product launches for the past five years, a descriptive SWOT analysis, and the competitive landscape in detail. The report intends to give readers an accurate picture of the market and its state in the coming years.
The key market players profiled in the report are:
• BP p.l.c.
• Calumet Specialty Products Partners, L.P.
• Exxon Mobil Corporation
• H&R GROUP
• Ilumina Wax doo
• MARATHON OIL COMPANY
• Royal Dutch Shell Plc
• The International Group, Inc.
The wax market is likely to witness growth during the forecast period owing to the high demand from cosmetic industry as a natural ingredient. Moreover, growing trend of scented luxury candles for decorative purposes further propel the market growth. Another major factor driving the growth of wax market is a shifting focus towards synthetic and vegetable waxes. However, discontinuation and closure of Group I base oil refineries hampers the market growth. On the other hand, growing usage of GTL refineries and use of mineral wax in rubber production provide significant opportunities to major market players during the forecast period.
The global wax market is segmented on the basis of type and end user industry. Based on type, the market is segmented as petroleum & mineral wax, synthetic wax and natural wax. The petroleum & mineral wax is further segmented as paraffin, microcrystalline wax, and others. Synthetic wax market is sub segmented as polymer wax, GTL wax and others. Natural wax market is sub segmented into vegetable wax, animal and insect wax. On the basis of the end user industry the market is segmented as cosmetic, packaging, candle making, and others.
Key Insights that the report covers:
- Key drivers, restraints, and prevailing trends
- Market size, growth rate, and opportunities
- Market share and position of the top players
- PEST Analysis of the five major regions
- Detailed SWOT analysis of top 10 companies
- Recent developments and new product launches
- Major challenges faced by the market players
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.