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, according to latest analysis by Emergen Research. The paraffin wax market has shown consistent revenue growth, which may be ascribed to rising demand from the cosmetics sector. Body lotions and face creams commonly contain mineral oils like paraffin, which occur in a variety of forms. Paraffin is used in cosmetic products since it is a less expensive way to moisturise skin. Paraffin wax has a lengthy history of use in the treatment of a variety of physical problems, including improving blood flow, reducing pain, and treating arthritis.
Paraffin, an emollient, also helps to soften the skin. The heated wax helps to retain moisture by opening pores and makes hands feel softer, smoother, and better than before. The cooling process makes paraffin wax harder as well. The wax also removes dirt and dead skin from the skin, leaving the hands smoother.
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Use of paraffin wax-coated sand in place of plastic mulch in farmers’ fields is a recent trend in the industry. Farmers frequently lay sheets of plastic along the rows of their crops to assist maintain moisture in the soil. According to a recent study, paraffin wax-coated sand would be a more cost-effective and environmentally responsible alternative. As a result, a team at Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) is investigating silica sand that has been coated in highly refined paraffin wax. Paraffin wax is not particularly eco-friendly in its raw form, but the “food-grade” wax the team uses has been purified and is both non-toxic and biodegradable, so it shouldn’t have an impact on the environment or accumulate there.
The Global Paraffin Wax Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The Global Paraffin Wax Market studies the market scenario to offer growth projections for the Paraffin Wax Market industry for the forecast period of 2022-2030. The report focuses on potential growth opportunities and limitations the prominent players of the industry might face during the entirety of the forecast timeline.
Some major companies operating in the global market 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.
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The Global Paraffin Wax Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Paraffin Wax market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
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)
Emergen Research has segmented the global paraffin wax market on the basis of type, application, and region:
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
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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At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
