Asia Pacific Paraffin Wax Market Size & Outlook, 2022-2030
Asia Pacific paraffin wax market, 2018-2030 (US$M)
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Asia Pacific paraffin wax market highlights
- The Asia Pacific paraffin wax market generated a revenue of USD 5,228.4 million in 2022.
- The market is expected to grow at a CAGR of 5.7% from 2023 to 2030.
- In terms of segment, candles was the largest revenue generating application in 2022.
- Candles is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 5,228.4 million |
| Market revenue in 2030 | USD 8,177.0 million |
| Growth rate | 5.7% (CAGR from 2022 to 2030) |
| Largest segment | Candles |
| Fastest growing segment | Candles |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Candles, Packaging, Cosmetics, Hotmelts, Board Sizing, Rubber |
| Key market players worldwide | PetroChina Co Ltd Class H, China Petroleum & Chemical Corp Class H, Sasol Ltd, Exxon Mobil Corp, Petroleo Brasileiro SA Petrobras ADR, Nippon Gas Co Ltd ADR, Repsol SA, Sinclair Inc Ordinary Shares - Class A, Honeywell International Inc, Origin Energy Ltd, Calumet Specialty Products Partners LP, Eni SpA |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 65.9% of the global paraffin wax market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,177.0 million by 2030.
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Paraffin Wax Market Scope
Paraffin Wax Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific paraffin wax market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to paraffin wax market will help companies and investors design strategic landscapes.
Candles was the largest segment with a revenue share of 44.14% in 2022. Horizon Databook has segmented the Asia Pacific paraffin wax market based on candles, packaging, cosmetics, hotmelts, board sizing, rubber covering the revenue growth of each sub-segment from 2018 to 2030.
In Asia Pacific, packaging industry shall rise at a fast pace due to broadening food & beverage, cosmetics and pharmaceutical domains across majority of the Asian economies. Processed food & beverage packaging sector shall set benchmark for the pharmaceutical and cosmetic industries.
Increasing focus on food safety and security coupled with safe and hygienic packaging practices shall fuel growth of the industry. Countries such as China, India, Indonesia, Thailand, Japan and more are price sensitive, therefore packaging pricing stands as a key point to achieve success in Asia Pacific.
The cosmetics industry in Asia Pacific is on a rise with key contribution arising from South Korea, Japan, Singapore, Australia and Vietnam among others. Among the several cosmetic products in the marketspace, skin care products are most widely consumed in the region followed by hair care and color cosmetics.
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Target buyers of Asia Pacific paraffin wax market databook
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Our clientele includes a mix of paraffin wax market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific paraffin wax market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific paraffin wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific paraffin wax market size, by country, 2018-2030 (US$M)
Asia Pacific Paraffin Wax Market Outlook Share, 2022 & 2030 (US$M)
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