Industrial Wax Market - Trends Forecast Till 2028

Industrial Wax Market, by Type (Fossil-based wax, Synthetic wax, Bio-Based wax), Application (Candles, Packaging, Coatings & Polishes, Hot-melt Adhesives, Tires & Rubber, Cosmetics & Personal Care, Food) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-CM-IWM-794


Number of Pages: 264

Domain: Chemicals & Materials

Industrial Wax Market – Trends Forecast Till 2028

The global Industrial wax market size is projected to reach USD 9.1 billion by 2026 at a CAGR of 4.2% from USD 7.5 billion in 2021 during the forecast period 2021-2028.

Bio-based wax demand is growing in packaging, cosmetic, food, various applications, due to environmental policies in developed regions like North America and Europe. Growing population and high gross domestic product growth rates in countries like India, China, and different Asian countries boost the Industrial wax market.

Growing demand for the cosmetics & personal care products, and increased adoption of waxes in the tire & rubber market are some of the factors that have supported long-term expansion for Industrial wax Market.

The manufacturing activities have been interrupted and the disturbed supply chain has resulted in a decline for industrial wax in major countries such as U.S., UK, Germany, and France. Moreover, decreased demand for cosmetics, candles, and consumer products across the globe has weakened the demand for wax market.

Industrial Wax Market Research Report

Asia-Pacific holds the largest share in the industrial wax market due to growing economies such as Japan, China, India, and other APAC countries namely Indonesia, and South Korea.

Industrial wax Market is segmented into type, application, and geography.

On the basis of Type

  • Fossil-based wax
  • Synthetic wax
  • Bio-Based wax

On the basis of Application

  • Candles
  • Packaging
  • Coatings & Polishes
  • Hot-melt Adhesives
  • Tires & Rubber
  • Cosmetics & Personal Care
  • Food

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Industrial Wax Market Primary Respondent


Key Players

  • ExxonMobil
  • Royal Dutch Shell PLC
  • Sinopec
  • Sasol Ltd
  • Hollyfrontier Corporation
  • Calumet Specialty Products Partners
  • Gandhar Oil refinery
  • Numaligarh Refinery Limited
  • Petróleo Brasileiro
  • THE PJSC Lukoil Oil Company

Recent Developments

  • ExxonMobil announced to proceed with a USD 2 billion investment to expand the chemical plant in Baytown, Texas, creating approximately 2,000 jobs.  
  • Shell Eastern Petroleum Ltd (“Shell”) launched two new wax products, Slackwax 60 and Slackwax 120, at its Pulau Bukom manufacturing site in Singapore. Shell intends to manufacture 60 kilotonnes of these products annually, serving customers in Asia, Europe and the US.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Industrial wax market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope


Report Feature


Market Revenue In 2021

USD 7.5 billion

Growth Rate

CAGR of 4.2% during the forecasting period, 2021-2028

Historical Data


Forecast Years


Base Year


Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Type, Application, and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

ExxonMobil, Royal Dutch Shell PLC, Sinopec, Sasol Ltd, CEPSA, Hollyfrontier Corporation, Calumet, Specialty Products Partners, Gandhar Oil refinery, Numaligarh Refinery Limited, Petróleo Brasileiro, THE PJSC Lukoil Oil Company

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