Hydrocarbon Waxes Market

Hydrocarbon Waxes Market Analysis by Application (Hydrocarbon Waxes for Plastic Additives, Rubber, Paints & Coatings, Metal working Fluids, Lubricating Adhesives), by Region - Global Insights to 2033

Analysis of Hydrocarbon Waxes Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Hydrocarbon Waxes Market Growth Outlook (2023 to 2033)

The global hydrocarbon waxes market is set to reach a valuation of US$ 3.9 billion in 2023 and it is expected to grow at a CAGR of 3.0% to reach US$ 5.3 billion by the end of 2033.

Hydrocarbon waxes are produced from the de-waxing cycle that unrefined petroleum goes through. Hydrocarbon waxes include a combination of hydrocarbon particles that contain 20 to 40 carbon atoms. It finds its applications in paints and coatings, rubber, cosmetics, and adhesives.

Report Attributes Details
Hydrocarbon Waxes Market Size (2022A) US$ 3.8 Billion
Estimated Market Value (2023E) US$ 3.9 Billion
Forecasted Market Value (2033F) US$ 5.3 Billion
Global Market Growth Rate (2023 to 2033) 3.0% CAGR
North America Market Share (2023) 24.6%
North America Growth Rate (2023 to 2033) 3.5% CAGR
Market Share of Top 5 Companies 41.2%
Key Companies Profiled Blended Waxes Inc.; ExxonMobil Corp.; Kerax Limited; King Honor International Lt; Poth Hille & Company Limited; Valan Wax Products Limited

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Global Hydrocarbon Waxes Market Historical Outlook (2018 to 2022) vs. Forecast Outlook (2023 to 2033)

The demand for waxes and hydrocarbons in emerging as well as developing economies will be supported by growing populations and the consumer class. One of the most alluring industries in the world for maintaining and increasing hydrocarbon wax demand throughout the predicted period is the paints and coatings sector.

Hydrocarbon Waxes demand is escalating owing to increased consumption of lubricating additives. The market for hydrocarbon wax is anticipated to increase significantly throughout the forecast period as a result of the growing use of candles for décor, for delivering creative presents, and for cosmetics packaging applications. Increased demand for plastics and adhesives & sealants is also boosting polyolefin wax demand globally over the forecast period.

  • Short Term (2023 to 2026): Augmented consumption of hydrocarbon waxes in packaging applications demands increased production. Thus, the requirement for hydrocarbon waxes is expected to experience surging growth.
  • Medium Term (2026 to 2029): Possibilities also abound across the cosmetics & personal care market, attributable to their outstanding skin protection characteristics and invulnerability to oxidation or rancidity. Thus, increasing demand for personal care products specifically post-pandemic is expected to increase demand.
  • Long Term (2029 to 2033): Increased building activity, which is driving demand for paints & coatings and innovative plastics will have a significant impact on the future growth of the hydrocarbon waxes market.

The historical analysis of the global hydrocarbon waxes market indicates the market growth rate was 2.5% from 2018 to 2022 and is further expected to grow by 3.0% between 2023 and 2033, according to the Fact.MR analysis.

Market Dynamics Outlook

“Growing Demand Across Cosmetics Industry Drives Hydrocarbon Wax Market”

The market for hydrocarbon waxes has opened up a wide range of prospects for manufacturers due to the rising demand for high-end skincare and beauty products. To highlight the benefits of hydrocarbon waxes, personal care product makers are undertaking marketing campaigns in both traditional and digital media.

Hydrocarbon waxes are a texture-improving ingredient that prevents emulsions from separating in a composition. This component gives cosmetics like lipstick strength and stability due to its high melting point. Hydrocarbon waxes can also be found in sunscreens, foundations, and lotions.

It has been discovered that paraffin wax, a hydrocarbon-derived wax, melts at a temperature that is somewhat close to that of the human body, suggesting that goods created with this wax readily spread when they come into contact with the skin. As a result, major cosmetics producers are using paraffin wax in their product lines.

“Factors Affecting the Hydrocarbon Wax Market Growth”

Hydrocarbon waxes are increasingly being used in a wide range of industries, although several issues could limit their expansion. The introduction of natural and organic waxes brought about by increased environmental concerns related to synthetic waxes presents a significant hurdle.

Additionally, prices of hydrocarbon waxes will fluctuate due to price volatility in the petrochemical feedstock. Throughout the forecast period, it is projected that this factor will hinder the market worldwide.

Hydrocarbon waxes are less environmentally friendly than other types of wax since they are made from non-renewable resources like petroleum. So, important players are putting more of an emphasis on environmentally friendly alternatives like beeswax and other plant-based materials.

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Country-wise Insights

Why Are Hydrocarbon Wax Suppliers Attracted to the U.S. Market?

The construction industry in the U.S. is a prominent consumer of hydrocarbon wax, particularly in the production of construction materials such as asphalt and roofing materials. Hence, the growing construction industry paved the way for the hydrocarbon wax market players.

  • For instance, the U.S. Department of Transportation reported that as of 2021, there were over 4.3 million miles of public roads in the U.S.
  • In addition, the U.S. Energy Information Administration reported that in 2020, the U.S. consumed over 18 million barrels of asphalt and road oil per day.

Hydrocarbon wax is used as an additive in the production of asphalt and road oil, indicating a significant demand for hydrocarbon wax in the U.S. construction industry.

How Are Producers of Hydrocarbon Wax Gaining Ground in India?

The packaging industry in India is one of the fastest-growing industries in the country, and it is a significant driver of the demand for hydrocarbon wax. The demand for flexible packaging in India has been on the rise due to the growing e-commerce industry and changing consumer preferences. Hydrocarbon wax is used as a coating material for flexible packaging, providing moisture and grease resistance, and improving the durability of the packaging.

India is also a prominent food producer and exporter. The growing demand for packaged food products, particularly in urban areas, is driving the demand for hydrocarbon wax. It is used as a coating material for food packaging, preventing contamination and improving the shelf life of the products.

Hence, the growing packaging industry in India is driving the demand for hydrocarbon wax, as it is used as a coating material for flexible and food packaging.

Category-wise Insights

Why Do Hydrocarbon Waxes Use for Plastic Additives Dominate the Market?

The global demand for plastic products is growing, driven by the rise in population, urbanization, and industrialization. Hydrocarbon waxes are used as plastic additives to enhance the properties of plastic materials, making them more suitable for a wide range of applications.

Further, the development of new technologies has led to the discovery of new applications for hydrocarbon waxes in plastic additives. For instance, the use of nano-sized hydrocarbon waxes as additives has been found to enhance the mechanical properties of plastic materials.

The increasing focus on sustainable development is driving the demand for eco-friendly plastic additives. Hydrocarbon waxes are considered to be environmentally friendly and are therefore preferred over other plastic additives. These factors are expected to continue to drive the market growth for hydrocarbon waxes in plastic additives in the future.

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Manufacturers Key Strategies

Leading manufacturers of hydrocarbon waxes are A F Suter & Company Limited, Blended Waxes Inc., Calwax LLC, ExxonMobil Corp., Faith Industries Limited, Goyel Chemicals Corporation, Kerax Limited, King Honor International Lt, Mat-Chem, Poth Hille & Company Limited, Sasol Ltd., Strahl & Pitsch Inc., and Valan Wax Products Limited.

Manufacturers are investing in research and development activities to develop new and innovative products with enhanced properties. Companies are entering into strategic partnerships and collaborations to expand their market reach and enhance their product portfolio.

For instance :

  • In May 2021, Calumet Specialty Products Partners acquired Paralogics, a provider of synthetic waxes, to expand its product portfolio and enhance its market presence.
  • In February 2021, Sasol Ltd. worked with the waste management solutions provider GrnCat to create a method for recovering wax from used catalysts as a part of its focus on SDG’s goals.
  • In January 2021, Clariant announced the opening of a new production facility for waxes and additives in China to cater to the growing demand for these products in the Asia-Pacific region.
  • In November 2020, Nippon Seiro entered into a partnership with Evonik Industries to expand its product portfolio in the wax industry.

Fact.MR has provided detailed information about the price points of key manufacturers of hydrocarbon waxes positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Hydrocarbon Waxes Market

  • Hydrocarbon Waxes Market by Application :

    • Plastic Additives
    • Rubber
    • Paints & Coatings
    • Metal Working Fluids
    • Lubricating Adhesives
    • Others
  • Hydrocarbon Waxes Market by Regions :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

Table of Content

  • 1. Market - Executive Summary
  • 2. Market Overview
  • 3. Market Background and Foundation Data
  • 4. Global Demand (Tons) Analysis and Forecast
  • 5. Global Market - Pricing Analysis
  • 6. Global Market Value (US$ million) Analysis and Forecast
  • 7. Global Market Analysis and Forecast, By Application
    • 7.1. Lubricating Adhesives
    • 7.2. Plastic Additives
    • 7.3. Rubber
    • 7.4. Paints & Coatings
    • 7.5. Metal Working Fluids
    • 7.6. Others
  • 8. Global Market Analysis and Forecast, By Region
    • 8.1. North America
    • 8.2. Latin America
    • 8.3. Europe
    • 8.4. East Asia
    • 8.5. South Asia & Oceania
    • 8.6. Middle East & Africa
  • 9. North America Market Analysis and Forecast
  • 10. Latin America Market Analysis and Forecast
  • 11. Europe Market Analysis and Forecast
  • 12. East Asia Market Analysis and Forecast
  • 13. South Asia & Oceania Market Analysis and Forecast
  • 14. Middle East & Africa Market Analysis and Forecast
  • 15. Country-level Market Analysis and Forecast
  • 16. Market Structure Analysis
  • 17. Competition Analysis
    • 17.1. A F Suter & Company Limited
    • 17.2. Blended Waxes Inc.
    • 17.3. Calwax LLC
    • 17.4. ExxonMobil Corp.
    • 17.5. Faith Industries Limited
    • 17.6. Goyel Chemicals Corporation
    • 17.7. Kerax Limited
    • 17.8. King Honor International Ltd
    • 17.9. Mat-Chem
    • 17.10. Poth Hille & Company Limited
    • 17.11. Sasol Ltd.
    • 17.12. Strahl & Pitsch Inc.
    • 17.13. Valan Wax Products Limited
    • 17.14. Other Players
  • 18. Assumptions & Acronyms Used
  • 19. Research Methodology

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List Of Table

Table 01. Global Market Value (US$ million), by Region, 2018 to 2022

Table 02. Global Market Value (US$ million) and Forecast by Region, 2023 to 2033

Table 03. Global Market Volume (Tons), by Region, 2018 to 2022

Table 04. Global Market Volume (Tons) and Forecast by Region, 2023 to 2033

Table 05. Global Market Value (US$ million), By Application, 2018 to 2022

Table 06. Global Market Value (US$ million) and Forecast By Application, 2023 to 2033

Table 07. Global Market Volume (Tons), By Application, 2018 to 2022

Table 08. Global Market Volume (Tons) and Forecast By Application, 2023 to 2033

Table 09. North America Market Value (US$ million), by Country, 2018 to 2022

Table 10. North America Market Value (US$ million) and Forecast by Country, 2023 to 2033

Table 11. North America Market Volume (Tons), by Country, 2018 to 2022

Table 12. North America Market Volume (Tons) and Forecast by Country, 2023 to 2033

Table 13. North America Market Value (US$ million), By Application, 2018 to 2022

Table 14. North America Market Value (US$ million) and Forecast By Application, 2023 to 2033

Table 15. North America Market Volume (Tons), By Application, 2018 to 2022

Table 16. North America Market Volume (Tons) and Forecast By Application, 2023 to 2033

Table 17. Latin America Market Value (US$ million), by Country, 2018 to 2022

Table 18. Latin America Market Value (US$ million) and Forecast by Country, 2023 to 2033

Table 19. Latin America Market Volume (Tons) by Country, 2018 to 2022

Table 20. Latin America Market Volume (Tons) and Forecast by Country, 2023 to 2033

Table 21. Latin America Market Value (US$ million), By Application, 2018 to 2022

Table 22. Latin America Market Value (US$ million) and Forecast By Application, 2023 to 2033

Table 23. Latin America Market Volume (Tons), By Application, 2018 to 2022

Table 24. Latin America Market Volume (Tons) and Forecast By Application, 2023 to 2033

Table 25. Europe Market Value (US$ million), by Country, 2018 to 2022

Table 26. Europe Market Value (US$ million) and Forecast by Country, 2023 to 2033

Table 27. Europe Market Volume (Tons), by Country, 2018 to 2022

Table 28. Europe Market Volume (Tons) and Forecast by Country, 2023 to 2033

Table 29. Europe Market Value (US$ million), By Application, 2018 to 2022

Table 30. Europe Market Value (US$ million) and Forecast By Application, 2023 to 2033

Table 31. Europe Market Volume (Tons), By Application, 2018 to 2022

Table 32. Europe Market Volume (Tons) and Forecast, By Application, 2023 to 2033

Table 33. East Asia Market Value (US$ million), by Country, 2018 to 2022

Table 34. East Asia Market Value (US$ million) and Forecast by Country, 2023 to 2033

Table 35. East Asia Market Volume (Tons), by Country, 2018 to 2022

Table 36. East Asia Market Volume (Tons) and Forecast by Country, 2023 to 2033

Table 37. East Asia Market Value (US$ million), By Application, 2018 to 2022

Table 38. East Asia Market Value (US$ million) and Forecast By Application, 2023 to 2033

Table 39. East Asia Market Volume (Tons), By Application, 2018 to 2022

Table 40. East Asia Market Volume (Tons) and Forecast By Application, 2023 to 2033

Table 41. South Asia & Oceania Market Value (US$ million), by Country, 2018 to 2022

Table 42. South Asia & Oceania Market Value (US$ million) and Forecast by Country, 2023 to 2033

Table 43. South Asia & Oceania Market Volume (Tons), by Country, 2018 to 2022

Table 44. South Asia & Oceania Market Volume (Tons) and Forecast by Country, 2023 to 2033

Table 45. South Asia & Oceania Market Value (US$ million), By Application, 2018 to 2022

Table 46. South Asia & Oceania Market Value (US$ million) and Forecast By Application, 2023 to 2033

Table 47. South Asia & Oceania Market Volume (Tons), By Application, 2018 to 2022

Table 48. South Asia & Oceania Market Volume (Tons) and Forecast By Application, 2023 to 2033

Table 49. MEA Market Value (US$ million), by Country, 2018 to 2022

Table 50. MEA Market Value (US$ million) and Forecast by Country, 2023 to 2033

Table 51. MEA Market Volume (Tons), by Country, 2018 to 2022

Table 52. MEA Market Volume (Tons) and Forecast by Country, 2023 to 2033

Table 53. MEA Market Value (US$ million), By Application, 2018 to 2022

Table 54. MEA Market Value (US$ million) and Forecast By Application, 2023 to 2033

Table 55. MEA Market Volume (Tons), By Application, 2018 to 2022

Table 56. MEA Market Volume (Tons) and Forecast By Application, 2023 to 2033

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List Of Figures

Figure 01. Global Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033

Figure 02. Global Market Absolute $ Opportunity (US$ million), 2023 to 2033

Figure 03. Global Market Value (US$ million) and Volume (Tons) by Region, 2023 & 2033

Figure 04. Global Market Y-o-Y Growth Rate by Region, 2023 to 2033

Figure 05. Global Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033

Figure 06. Global Market Y-o-Y Growth Rate By Application, 2023 to 2033

Figure 07. North America Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033

Figure 08. North America Market Absolute $ Opportunity (US$ million), 2023 to 2033

Figure 09. North America Market Value (US$ million) and Volume (Tons) by Country, 2023 & 2033

Figure 10. North America Market Y-o-Y Growth Rate by Country, 2023 to 2033

Figure 11. North America Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033

Figure 12. North America Market Y-o-Y Growth Rate By Application, 2023 to 2033

Figure 13. North America Market Attractiveness Analysis by Country, 2023 to 2033

Figure 14. North America Market Attractiveness Analysis By Application, 2023 to 2033

Figure 15. Latin America Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033

Figure 16. Latin America Market Absolute $ Opportunity (US$ million), 2023 to 2033

Figure 17. Latin America Market Value (US$ million) and Volume (Tons) by Country, 2023 & 2033

Figure 18. Latin America Market Y-o-Y Growth Rate by Country, 2023 to 2033

Figure 19. Latin America Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033

Figure 20. Latin America Market Y-o-Y Growth Rate By Application, 2023 to 2033

Figure 21. Latin America Market Attractiveness Analysis by Country, 2023 to 2033

Figure 22. Latin America Market Attractiveness Analysis By Application, 2023 to 2033

Figure 23. Europe Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033

Figure 24. Europe Market Absolute $ Opportunity (US$ million), 2023 to 2033

Figure 25. Europe Market Value (US$ million) and Volume (Tons) by Country, 2023 & 2033

Figure 26. Europe Market Y-o-Y Growth Rate by Country, 2023 to 2033

Figure 27. Europe Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033

Figure 28. Europe Market Y-o-Y Growth Rate By Application, 2023 to 2033

Figure 29. Europe Market Attractiveness Analysis by Country, 2023 to 2033

Figure 30. Europe Market Attractiveness Analysis By Application, 2023 to 2033

Figure 31. East Asia Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033

Figure 32. East Asia Market Absolute $ Opportunity (US$ million), 2023 to 2033

Figure 33. East Asia Market Value (US$ million) and Volume (Tons) by Country, 2023 & 2033

Figure 34. East Asia Market Y-o-Y Growth Rate by Country, 2023 to 2033

Figure 35. East Asia Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033

Figure 36. East Asia Market Y-o-Y Growth Rate By Application, 2023 to 2033

Figure 37. East Asia Market Attractiveness Analysis by Country, 2023 to 2033

Figure 38. East Asia Market Attractiveness Analysis By Application, 2023 to 2033

Figure 39. South Asia & Oceania Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033

Figure 40. South Asia & Oceania Market Absolute $ Opportunity (US$ million), 2023 to 2033

Figure 41. South Asia & Oceania Market Value (US$ million) and Volume (Tons) by Country, 2023 & 2033

Figure 42. South Asia & Oceania Market Y-o-Y Growth Rate by Country, 2023 to 2033

Figure 43. South Asia & Oceania Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033

Figure 44. South Asia & Oceania Market Y-o-Y Growth Rate By Application, 2023 to 2033

Figure 45. South Asia & Oceania Market Attractiveness Analysis by Country, 2023 to 2033

Figure 46. South Asia & Oceania Market Attractiveness Analysis By Application, 2023 to 2033

Figure 47. MEA Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033

Figure 48. MEA Market Absolute $ Opportunity (US$ million), 2023 to 2033

Figure 49. MEA Market Value (US$ million) and Volume (Tons) by Country, 2023 & 2033

Figure 50. MEA Market Y-o-Y Growth Rate by Country, 2023 to 2033

Figure 51. MEA Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033

Figure 52. MEA Market Y-o-Y Growth Rate By Application, 2023 to 2033

Figure 53. MEA Market Attractiveness Analysis by Country, 2023 to 2033

Figure 54. MEA Market Attractiveness Analysis By Application, 2023 to 2033

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

- FAQs -

How Is the Market for Hydrocarbon Waxes Expected to Fare Going Forward?

The global hydrocarbon wax market is expected to hold a valuation of US$ 5.3 billion in 2033.

How Is the Market for Hydrocarbon Waxes Expected to Perform in the Future?

Worldwide demand for the hydrocarbon wax market is expected to grow at a CAGR of 3.0% by 2033.

How Has Been the Market Performing Over the Last Few Years?

During 2018-2022, the hydrocarbon wax market experienced a growth rate of 2.5%.

Which Region Holds the Maximum Share in Hydrocarbon Waxes Utilization in Global Market?

North America accounts for the maximum share of 26.4% of global hydrocarbon waxes market.

Which Application of Hydrocarbon Waxes Holds Maximum Share in Global Market?

Plastic additives account for 45.6% share of global sales of hydrocarbon wax.

Hydrocarbon Waxes Market

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