Mexico Paraffin Wax Market Size & Outlook, 2022-2030
Mexico paraffin wax market, 2018-2030 (US$M)
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Mexico paraffin wax market highlights
- The Mexico paraffin wax market generated a revenue of USD 31.3 million in 2022 and is expected to reach USD 38.6 million by 2030.
- The Mexico market is expected to grow at a CAGR of 2.6% 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 31.3 million |
| Market revenue in 2030 | USD 38.6 million |
| Growth rate | 2.6% (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, Mexico accounted for 0.4% 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 North America, U.S. paraffin wax market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 456.6 million by 2030.
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Paraffin Wax Market Scope
Paraffin Wax Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 31.95% in 2022. Horizon Databook has segmented the Mexico paraffin wax market based on candles, packaging, cosmetics, hotmelts, board sizing, rubber covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico has about more than one third of paraffin wax consumption in candles, followed by into packaging application. Majority of the candle manufacturing business are tiny, and family owned. The country has about 80% of catholic population which is major driver for extensive sales of candles for prayers in churches.
Paraffin wax manufactured in the country by manufacturers such as Pemex Oil has low quality specifications. Thus, candle manufacturers highly import wax from China. Mexico food and beverage market is growing at a higher pace owing to changing lifestyle of people and demand for longer shelf life of the product.
Healthy paper packaging sector in the country creates high demand for paraffin wax as plastic based packaging is highly overlooked by regulatory authorities to reduce non-renewable wastage.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico paraffin wax market , including forecasts for subscribers. This country databook contains high-level insights into Mexico paraffin wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico paraffin wax market size, by application, 2018-2030 (US$M)
Mexico Paraffin Wax Market Outlook Share, 2022 & 2030 (US$M)
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