The Global Paraffin Wax Market is projected to grow at a CAGR of 3.8% from USD 5,913.3 Million in 2020 to USD 7,978.8 Million in 2028. The increasing demand for cosmetic products, including personal care products, lipsticks, creams, and others in the developing countries, is anticipated to foresee a significant demand in the upcoming years, which in turn, is estimated to drive the growth of the market in the forecast period.
Nail salon, pedicure salon, spa pedicure salon, medical pedicure & luxury pedicure are some of the highest growing end-use verticals that make use of the paraffin wax and add to the market growth remarkably. Beeswax candles, beeswax candles catholic, paraffin wax bath, paraffin wax bath for hands and feet, paraffin wax bath for arthritis, soy wax candles, soy wax flakes are a few of the highest used products or use cases that help grow the market enforcements.
Top Companies Operating in the Global Paraffin Wax Market:
ExxonMobil, Sinopec, PetroChina Company Limited, Sasol, The International Group, Honeywell, Nippon Seiro Company Limited, Petrobras, Repsol, and Indian Oil Corporation Ltd.
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Paraffin wax finds application in the cosmetic industry for application on the hands and feet. It is a natural emollient effect that aids in making skin soft and supple. On application to the skin, it imparts moisture and carries on to improve the moisture levels of the skin post completion of the treatment. Moreover, it helps to exfoliate skin and open pores, thereby giving a smoother and fresher appearance to the skin.
Paraffin wax finds application in the pharmaceutical industry for coating of tablets. Several grades of paraffin wax are being used as household chemicals. It functions as additives in many polishing, including furniture, floor, and automobile, to enhance the surface gloss. Moreover, paraffin is extensively used for the insulation of electric appliances wirings and electrical nodes.
Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Paraffin Wax market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Paraffin Wax market size
2.2 Latest regional market trends
2.3 Emerging growth trends - Competitive Outlook
3.1 Global Paraffin Wax market key players
3.2 Global Paraffin Wax size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Paraffin Wax market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Paraffin Wax Market Segmentation
Product Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2018-2028)
- Fully-Refined Paraffin Wax
- Semi-Refined Paraffin Wax
- Others
Availability Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2018-2028)
- Liquid Paraffin Wax
- Solid Paraffin Wax
Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2018-2028)
- Candle
- Packaging
- Board Sizing
- Rubber
- Hot Melts
- Cosmetics
- Others
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