Changes in lubricant refining technology have led to a decline in the supply for petroleum wax, which has traditionally dominated the global wax industry. As petroleum waxes fall behind, new formulations have emerged to compete for the vacated market space. Global wax supply in 2010 is estimated at 9.6 billion lb according to the latest report Global Wax Industry 2010: Market Analysis and Opportunities from worldwide consulting and research firm Kline & Company.
The fate of petroleum wax supplies is largely outside the control of the wax industry. Wax supplies are tied to regional basestock quality requirements, and this is independent of wax supply and demand. Today, petroleum waxes represent 85% of global wax supply, dropping below 90% for the first time in decades. Read full article…
Estimated Global Demand for Waxes by Application, 2010
