Middle East & Africa Paraffin Wax Market Size & Outlook
Middle East & Africa paraffin wax market, 2018-2030 (US$M)
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MEA paraffin wax market highlights
- The MEA paraffin wax market generated a revenue of USD 654.5 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.
MEA data book summary
| Market revenue in 2022 | USD 654.5 million |
| Market revenue in 2030 | USD 1,017.7 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, MEA region accounted for 8.3% 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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Middle East & Africa 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 43.74% in 2022. Horizon Databook has segmented the Middle East & Africa paraffin wax market based on candles, packaging, cosmetics, hotmelts, board sizing, rubber covering the revenue growth of each sub-segment from 2018 to 2030.
Middle East is the world’s fastest growing cosmetics market valued at 25 Billion. Saudi Arabia and UAE accounts for quarter of the total sales in the region. In 2015, UAE had the highest per capita spending of USD 239. Over the imported products, domestic brands are making exceptional growth in the market owing to high preference of consumers for halal beauty products.
High literacy rate, high consumer spending capacity, young population with high social media access and affordable prices are expected to propel the cosmetics market in the region. Middle East and Africa is the second largest market in food and beverage after Asia Pacific.
Specifically, the packaging sector in Africa is expected to outburst over the coming years with growing food and beverage market in the country. Africa’s food and beverage market has shown 18% growth in year 2017- 2018 and thus increasing demand for the packaging materials subsequently.
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Target buyers of Middle East & Africa 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 Middle East & Africa paraffin wax market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa paraffin wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Paraffin Wax Market Outlook Share, 2022 & 2030 (US$M)
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