Latin America Paraffin Wax Market Size & Outlook
Latin America paraffin wax market, 2018-2030 (US$M)
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Latin America paraffin wax market highlights
- The Latin America paraffin wax market generated a revenue of USD 425.2 million in 2022.
- The market is expected to grow at a CAGR of 3.5% 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, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 425.2 million |
| Market revenue in 2030 | USD 560.4 million |
| Growth rate | 3.5% (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, Latin America region accounted for 5.4% 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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Latin America 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 41.51% in 2022. Horizon Databook has segmented the Latin America paraffin wax market based on candles, packaging, cosmetics, hotmelts, board sizing, rubber covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America cosmetics market is showing high growth owing to increasing demand from countries such as Brazil, Chile and Colombia. The region is likely to create new market opportunities with various companies establishing manufacturing units especially in growing economies such as Brazil and Argentina.
The high cost of imported cosmetics products is creating opportunity for domestic producer to establish their market. Argentina government’s policy to restrict cosmetics imports is leading to reduced product availability and sales of the products which may challenge the paraffin wax market growth in near future.
Central & South America has high consumption of paraffin wax in manufacturing of candles. The region has relatively less demand for scented candles as these are mainly used for the purpose of lighting and in religious prayers. Overall revival of the economy and increasing per capita income is expected to positively affect the market in near future.
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Our clientele includes a mix of paraffin wax market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America paraffin wax market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America paraffin wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America paraffin wax market size, by country, 2018-2030 (US$M)
Latin America Paraffin Wax Market Outlook Share, 2022 & 2030 (US$M)
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