Global Paraffin Market Set for Steady Growth
The Global Paraffin Market is projected to expand significantly, with its size valued at approximately USD 6,214.61 million in 2023. Forecasts indicate that the market will reach nearly USD 8,249.83 million by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 4.13% during the period from 2024 to 2030.
Competitive Landscape
The paraffin industry is characterized by the presence of several key players who contribute to its dynamic landscape. Notable companies include BASF, Sasol, ExxonMobil, Royal Dutch Shell, and PetroChina. These industry leaders are actively engaged in enhancing their production capacities and investing in research and development to meet the evolving demands of various end-use sectors.
For additional insights, kindly explore the following link:
https://www.maximizemarketresearch.com/request-sample/29394/
Regional Demand Highlights
Asia-Pacific emerges as the largest market for paraffin, accounting for approximately 36.15% of the global share in 2023. This dominance is driven by robust demand from industries such as candle-making, cosmetics, and packaging. North America and Europe also hold significant market shares, with 24.94% and 22.11% respectively, particularly in industrial applications like lubricants, rubber, and plastics.
Vietnam: Paraffin Market Opportunities
Vietnam's mergers and acquisitions (M&A) market is anticipated to experience substantial growth in 2025, creating favorable conditions for the paraffin industry. The country's strategic position in the global supply chain and its expanding manufacturing capabilities make it an attractive destination for investment and expansion in the paraffin sector.
by Material
Paraffin wax
Paraffin jelly
White Oil/Liquid Paraffin Oil
Kerosene paraffin
In 2023, paraffin wax maintained the biggest market share at 40.66%, mainly due to its extensive use in cosmetics, packaging, and candle manufacture. Because it retains color and aroma well, it is used in the making of candles. Its prominence was largely due to its clean-burning qualities and adaptability to a wide range of industrial uses. Because of its emollient and lubricating qualities, white oil, also known as liquid paraffin oil, has a large market share of 31.07% in the food processing, cosmetics, and pharmaceutical industries. Kerosene paraffin, which is mostly utilized as a raw ingredient in the chemical sector and in the manufacturing of jet fuels, came in second at 14.08%. Driven by particular industrial demands and customer preferences, this segmentation represents the various applications and acceptance levels of various paraffin products in the worldwide paraffin market.
by Application
Cosmetic & Personal care
Pharmaceuticals
Food & Beverages
Paper & Packaging
Lighting/Candles
Fuel
Tires & Rubbers
Coatings
Lubricants
Adhesive
Agriculture
Textiles
Others
by Cosmetic & Personal Care
Facial Creams
Moisturisers & Lotions
Skin Ointment
Lip Balms
Soap & Shower Gel
Incense & Perfume
Lipstick
Hand Sanitizer
Body & Hair Oil
Foundation & Concealer
Face Mask
Shampoo & Conditioner
Hair Removal Waxes
Eye Liner & Mascara
Sunscreen and suntan products
Others
by Pharmaceuticals
Pharma Coatings
Ointments and creams
Suppositories
Controlled-release drugs
Lubricants
Wound dressings
Emollients
Stabilizers
Solvents
Contrast agent
Cathartic
by Food & Beverages
Food and Beverage Coatings
Chewing gum
Chocolate
Fruit Preservation
Others
by Paper & Packaging
Paper and Packaging Coatings
Food packaging
Corrugated boxes
Envelope sealing
Textile packaging
Others
by Lighting and Candles
Container candles
Votive candles
Taper candles
Pillar candles
Tealight candles
Other
by Fuel
Jet fuel
Diesel fuel
Heating oil
Industrial lubricants
by Tires & Rubbers
Processing Aid
Lubricant
Mold Release Agent
Anti-blocking agent
Others
by Coatings
Paints and varnishes
Inks
Corrosion inhibitors
Release agent
Waterproofing agent
by Lubricants
Hydraulic oils
Metalworking fluids
Chain and bar lube
Lube additives
Others
by Adhesive
Pressure-sensitive adhesives
Hot melt adhesives
Packaging adhesives
Construction adhesives
Wood adhesives
To find more information about this research, please visit:
https://www.maximizemarketresearch.com/request-sample/29394/
Key Market Participants:
1. Apar Industries
2. Calumet
3. CEPSA
4. China National Corporation
5. ENEOS
6. Eni Spa
7. Evonik Industries Ag
8. Exxon
9. HollyFrontier Corp.
10. International Group Inc (IGI)
11. Kemipex
12. Nippon
13. Royal Dutch Shell PLC
14. Sasol
15. Sinope Corp
Catch Up with Trending Topics:
Recycled Plastic and Plastic Waste to Oil Market :
Global Printing Toners Market :
https://www.maximizemarketresearch.com/market-report/global-printing-toners-market/29162/
About Us:
Maximize Market Research is one of the fastest-growing Market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
Contact Us:
MAXIMIZE Market RESEARCH PVT. LTD.
3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
+91 9607365656
sales@maximizeMarketresearch.com
Comments
0 comment