wax industry

Global Wax Industry: Market Analysis and Opportunities

Regional Coverage: Asia-Pacific, Europe, North America, Latin America, Africa and Middle East

Base Year: 2021 / Plus 2020 estimates
Forecasts to: 2025 and 2030
Published: December 2021

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Base Year: 2022
Forecasts to: 2027 and 2032
Published: Q3 2023

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The global supply of petroleum wax, which is derived from Group I basestock production, is declining. This is creating a vacuum in the wax market, which is increasingly being filled by synthetic and vegetable waxes. Wax demand in fast-growing markets such as PVC, paints, coatings, and adhesives is increasing, while the demand is slowing down in traditional wax applications such as candles and board sizing. Wax end users are increasingly looking to include sustainable waxes in their production line to reduce their carbon footprints. This is expected to strengthen the transition in the wax industry toward low-carbon-intensive waxes.


  • Detailed market profile for petroleum waxes, including FRP, SRP, slack wax, microcrystalline waxes, and petrolatum/petroleum jelly.
  • Detailed market profile for FT waxes, polymer waxes, LAO waxes, and vegetable-/plant-derived waxes
  • Market dynamics for the leading wax applications, detailing wax demand in each application by wax type
  • Global and regional wax supply and demand outlook by wax type
  • Analysis of wax positioning and pricing
  • Recognition and interpretation of market trends, evaluating growth drivers and restraints
  • Identification of market opportunities and challenges
  • Detailed wax market model, mapping supply and demand by application for key wax types


Table of Contents


Executive Summary

An overview of the report findings, plus forecast based on Kline’s Global Wax Market Model

Profile of Regional Markets

Detailed regional profiles of Asia-Pacific, Europe, North America, Latin America, and Africa and the Middle East cover the following information:

  • Wax supply
  • Wax demand
  • Wax supply–demand balance and trade
  • Wax pricing and inter-material competition
  • Market outlook opportunities and threats

Wax Market Profiles 

Detailed wax market profiles will be provided for:

  • Petroleum waxes – FRP, SRP/scale, slack
  • Petrolatum/Petroleum Jelly
  • Microcrystalline wax
  • Polyolefin
  • Fischer-Tropsch
  • Alphaolefin
  • Vegetable and plant waxes

Each of the above wax profiles will cover the following information:

  • Wax supply
  • Wax applications and demand
  • Wax pricing
  • Wax supply-demand outlook
  • Wax market outlook, opportunities, and threats

Wax Positioning, Pricing, and Inter-Material Competition 

  • Historical wax pricing trends
  • Current wax pricing by wax type

Wax Market Model

A detailed Excel model mapping supply and demand for petroleum, synthetic, and vegetable- and plant-based waxes for 2022, 2027, and 2032

Subscriber Benefits

This study serves as an invaluable tool in the strategic planning process for wax producers, blenders, formulators, marketers, and other market participants by identifying opportunities and challenges within this industry. Specifically, it will assist subscribers in:

  • Understanding the future growth potential by analyzing the current and projected supply of petroleum waxes, synthetic waxes, and vegetable and plant waxes​
  • Understanding wax pricing and positioning trends, as well as gauging the inter-material competition among key wax types
  • Evaluating the current demand and growth potential in key applications, thus identifying opportunities and challenges for wax industry participants

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