Paraffin Wax Prices Report 2024 | Monitor | News | Forecast

• The paraffin wax prices in the US dropped to 1375 USD/MT in Q4 2023 as a result of reduced demand in the beauty and candle production sectors.

• Similarly, the paraffin wax market in China saw a downward trend, with prices decreasing to 775 USD/MT due to weak demand.

• In Europe, the paraffin wax industry also experienced a decline, with prices falling to 1615 USD/MT.

The latest IMARC Group report, "𝐏𝐚𝐫𝐚𝐟𝐟𝐢𝐧 𝐖𝐚𝐱 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭 𝟐𝟎𝟐𝟒: 𝐏𝐫𝐢𝐜𝐞 𝐓𝐫𝐞𝐧𝐝, 𝐂𝐡𝐚𝐫𝐭, 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐍𝐞𝐰𝐬, 𝐃𝐞𝐦𝐚𝐧𝐝, 𝐇𝐢𝐬𝐭𝐨𝐫𝐢𝐜𝐚𝐥 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐃𝐚𝐭𝐚," presents a detailed analysis of paraffin wax price trend, offering key insights into global market dynamics. This report includes comprehensive price chart, which trace historical data and highlights major shifts in the market.

The analysis delves into the factors driving these trends, including raw material costs, production fluctuations, and geopolitical influences. Moreover, the report examines paraffin wax demand, illustrating how consumer behavior and industrial needs affect overall market dynamics. By exploring the intricate relationship between supply and demand, the prices report uncovers critical factors influencing current and future prices.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐭𝐨 𝐆𝐞𝐭 𝐭𝐡𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/paraffin-wax-pricing-report/requestsample

𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠:

• 𝐌𝐨𝐧𝐭𝐡𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬: Annual Subscription
• 𝐐𝐮𝐚𝐫𝐭𝐞𝐫𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬: Annual Subscription
• 𝐁𝐢𝐚𝐧𝐧𝐮𝐚𝐥𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬: Annual Subscription

The study examines the key factors driving paraffin wax price variations, focusing on shifts in raw material costs, the balance between supply and demand, and the impact of geopolitical influences. It also considers sector-specific developments that play a critical role in shaping market prices. By analyzing these elements, the report offers valuable insights into the underlying causes of price fluctuations, helping businesses and investors understand market behavior more effectively.

In addition, the report provides the latest market updates, ensuring stakeholders are informed about recent fluctuations, regulatory changes, and technological advancements. This comprehensive resource equips decision-makers with the necessary tools to enhance their strategic planning and improve forecasting accuracy. Through this analysis, the report becomes an indispensable asset for anyone looking to navigate the complexities of the paraffin wax market and optimize future strategies.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.imarcgroup.com/request?type=report&id=22395&flag=F

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐩𝐚𝐫𝐚𝐟𝐟𝐢𝐧 𝐰𝐚𝐱?

The paraffin wax industry is primarily driven by its extensive application across various industries, including cosmetics, packaging, candles, and coatings. In line with this, in the cosmetics and personal care sector, paraffin wax is used in a range of products such as creams, lotions, and ointments due to its emollient properties and ability to lock in moisture.

Moreover, the packaging industry leverages paraffin wax for its moisture barrier and protective qualities, enhancing the durability and shelf-life of packaged goods. Also, the booming candle industry, driven by consumer demand for decorative and scented candles, significantly contributes to the paraffin wax industry growth.

The material's smooth texture, burn efficiency, and ability to hold fragrances make it ideal for candle manufacturing. Furthermore, the increasing use of paraffin wax in coatings and polishes, providing a glossy finish and protective layer to various surfaces, including wood and automobiles is aiding in market expansion.

𝐏𝐚𝐫𝐚𝐟𝐟𝐢𝐧 𝐖𝐚𝐱 𝐏𝐫𝐢𝐜𝐞 𝐓𝐫𝐞𝐧𝐝:

In the fourth quarter of 2023, the North American paraffin wax industry experienced a bearish trend due to reduced demand in the cosmetics and candle-making sectors, both domestically and internationally. The prolonged drop in global crude oil prices and sanctions on Venezuelan crude oil further affected the market despite some relief to downstream industries.

Additionally, the Asia-Pacific paraffin wax industry experienced a bearish trend due to weak demand in domestic and international markets and prolonged low global crude oil prices. The decline was worsened by disruptions in the Red Sea, a crucial trade route, which raised ocean freight rates. Major shipping companies like Cosco and Evergreen suspended cargo transportation along this route due to Yemen-Houthi attacks, causing delays and inventory buildups at Chinese ports.

These factors collectively narrowed the demand-supply gap, contributing to the downward trend in paraffin wax prices throughout the quarter. Besides this, the European paraffin wax industry experienced a bearish trend due to declining demand in the cosmetics and candle-making sectors, both domestically and internationally. Prolonged low global crude oil prices and sanctions on Venezuelan crude oil added to these challenges.

Attacks on Red Sea trade routes by Yemeni rebels further disrupted global supplies, leading to increased shipping fees and hesitancy among Asian consumers to make bulk purchases. This resulted in rising inventories in the European market.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧 𝐀𝐭: https://www.imarcgroup.com/paraffin-wax-pricing-report

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐏𝐫𝐢𝐜𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

• 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
• 𝐄𝐮𝐫𝐨𝐩𝐞: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
• 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚: United States and Canada
• Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
• 𝐌𝐢𝐝𝐝𝐥𝐞 𝐄𝐚𝐬𝐭 & 𝐀𝐟𝐫𝐢𝐜𝐚: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

𝐘𝐨𝐮 𝐌𝐢𝐠𝐡𝐭 𝐀𝐥𝐬𝐨 𝐑𝐞𝐚𝐝:

𝐂𝐫𝐮𝐝𝐞 𝐎𝐢𝐥 𝐏𝐫𝐢𝐜𝐞𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝟐𝟎𝟐𝟒: https://www.imarcgroup.com/crude-oil-pricing-report

𝐍𝐨𝐭𝐞: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

Contact us:
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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.

This release was published on openPR.