China Paraffin Wax Market Size & Outlook, 2022-2030
China paraffin wax market, 2018-2030 (US$M)
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China paraffin wax market highlights
- The China paraffin wax market generated a revenue of USD 4,491.9 million in 2022 and is expected to reach USD 7,123.3 million by 2030.
- The China market is expected to grow at a CAGR of 5.9% 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.
Paraffin wax market data book summary
| Market revenue in 2022 | USD 4,491.9 million |
| Market revenue in 2030 | USD 7,123.3 million |
| Growth rate | 5.9% (CAGR from 2022 to 2030) |
| Largest segment | Candles |
| Fastest growing segment | Candles |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, China accounted for 56.6% of the global paraffin wax market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China paraffin wax market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 7,123.3 million by 2030.
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Paraffin Wax Market Scope
Paraffin Wax Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 44.65% in 2022. Horizon Databook has segmented the China paraffin wax market based on candles, packaging, cosmetics, hotmelts, board sizing, rubber covering the revenue growth of each sub-segment from 2018 to 2030.
Although China has a substantial hold in terms of rubber demand in the country, it is observed to be going through revamping of policies related to the industry. The updated policies shall include supply demand management, strengthening property rights for local rubber manufacturers, restructuring rubber utility as a potential raw material and more.
These shall attract vivid rubber producers from around the globe to invest in China and strengthen their position in the global marketspace Increasing economic condition of local residents shall predominantly ensure high demand of packaging for food articles, cosmetics, household goods, pharmaceuticals and more.
The packaging industry comprises of more than 200 billion dollar companies out of which approximately 128 firms are indulged in advanced packaging & assembly activities.
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Target buyers of China 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 country-level data and insights on the China paraffin wax market , including forecasts for subscribers. This country databook contains high-level insights into China paraffin wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China paraffin wax market size, by application, 2018-2030 (US$M)
China Paraffin Wax Market Outlook Share, 2022 & 2030 (US$M)
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