DUBLIN, Dec 6, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Industrial Wax Market - Global Forecast to 2026" report to their offering.
The industrial wax market is projected to reach USD 10.07 billion by 2021, at a CAGR of 4.5% from 2016 to 2021 and USD 12.84 billion by 2026, at a CAGR of 4.7% from 2016 to 2026. With the better stabilization of global oil prices by 2020-2021, advances in synthetic wax manufacturing and the increased use of wax in corrugated packaging, it is estimated that industrial wax would depict slightly higher growth rates in the long term forecast.
Industrial wax performs better in candles, packaging and coatings & polishing applications than its substitutes, as it has good viscosity, moisture control, and lubrication properties. This has increased the demand for industrial wax for the candle, packaging and coating & polishing applications. The shrinking supply of paraffin wax, increasing prices of synthetic and bio-based wax, are the major restraints in the global industrial wax market.
The Asia-pacific region is estimated to be the largest and the fastest-growing market for industrial wax. The high growth rate in the region is due to the high demand from countries such as China, Japan and India. China is estimated to be the largest market for industrial wax in the Asia-Pacific region, followed by Japan and India. India is estimated to be the fastest-growing market in the Asia-Pacific region. Growth in the candle making, packaging and coating & polishing industries has increased the demand for industrial wax in the region.
- Sinopec Limited
- Royal Dutch Shell Plc
- Petroleo Brasileiro S.A. (Petrobras)
- Exxon Mobil Corp.
- Sasol Limited
- OJSC Lukoil
- Numaligarh Refinery Limited
- HCl WAX
- The Blayson Group Ltd
- International Group Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Industrial Wax Market, By Type
8 Industrial Wax Market, By Application
9 Industrial Wax Market, By Region
10 Competitive Landscape
11 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/3k9sql/industrial_wax
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SOURCE Research and Markets