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.
The report projects the market is anticipated to grow at a significant rate owing to rapid advancements and technological developments in the sector. The report offers strategic recommendations to businesses and investors to capitalize on the lucrative growth opportunities. The report further provides a comprehensive analysis of the competitive landscape and provides complete coverage with regard to company profiles, product portfolio, revenue generation, financial standing, and market position. It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others.
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)
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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
Objectives of the Report:
Study of the global Paraffin Wax market size by key regions, types, and applications with reference to historical data (2019-2020) and forecast (2022-2030)
Industrial structure analysis of the Paraffin Wax market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape bench marking
Analysis of Paraffin Wax market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Paraffin Wax market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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