Industrial Wax Market 2020 Analysis by Global Manufacturers – Sinopec, Petroleo Brasileiro, Royal Dutch Shell, Exxon Mobil, Sasol, Oil Co. Lukoil PJSC, The Blayson Group

Global Industrial Wax Market was valued at USD 9.6 Billion in 2018 and is projected to reach USD 13.89 Billion by 2026, growing at a CAGR of 4.70% from 2019 to 2026.

The Industrial Wax Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.

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The 198 report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Industrial Wax Market: Sinopec, Petroleo Brasileiro, Royal Dutch Shell, Exxon Mobil, Sasol, Oil Co. Lukoil PJSC, The Blayson Group, Numaligarh Refinery, International Group, and HCl.

06 February 2018: Sasolburg, South Africa – Today, Sasol inaugurated the full completion of its R13,6 billion FT Wax Expansion Project (FTWEP). Phase 2 began beneficial operation in March 2017, while phase 1 was commissioned in 2015.

“With completion of this project, South Africa is now one of the leading countries of wax production globally. “We’re enormously proud of this achievement and believe it is a fine symbol of South Africa’s industrial prowess,” said Bongani Nqwababa, Joint President and Chief Executive Officer, Sasol Limited. “As one of the leading producers of medium and hard waxes worldwide, Sasol leverages our expertise and proprietary technologies to produce premium waxes that offer unique properties and superior performance for our customers,” added Stephen Cornell, Joint President and Chief Executive Officer, Sasol Limited.

Marketed by the Performance Chemicals team, hard waxes, medium waxes, liquid paraffins and waxy oils are supplied to a variety of industrial and speciality applications. Hard waxes are used in hotmelt adhesives, PVC processing, inks, paints, coatings, and asphalt applications; medium waxes are used in candle markets and emulsions in the manufacturing of construction boards. Throughout the duration of the project, there were 49 service providers and approximately 5,500 construction workers on site. The project was resourced by 450 engineers with some 22,000 isometric drawings created and 904 pieces of mechanical equipment installed. In excess of 31 million hours were worked with an exceptional safety record of 0.15 recordable case rate (RCR), below the benchmark of projects of this scale.

Key Market Trends

The growing demand for wax from packaging industries owing to the good lubricating and moisture resistance properties is driving the growth of the market. furthermore, increasing demand for packed foods is expected to drive the growth of the market. However, the fluctuation in the prices of bio-based and synthetic wax coupled with the declining supply of paraffin wax is anticipated to hinder the growth of the market. Moreover, the rise in the demand for environmentally friendly wax such as bio-based waxes in the manufacturing of cosmetics, polishes, and pharmaceutical products is anticipated to fuel the growth of the market.

Influence Of The Industrial Wax Market Report:

-Comprehensive assessment of all opportunities and risk in the Industrial Wax market.
- Industrial Wax market recent innovations and major events.
-A detailed study of business strategies for growth of the Industrial Wax market-leading players.
-Conclusive study about the growth plot of Industrial Wax market for forthcoming years.
-In-depth understanding of Industrial Wax market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Industrial Wax market.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.

Analytical Tools: The Industrial Wax Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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