U.S. Paraffin Wax Market Size & Outlook, 2022-2030
U.S. paraffin wax market, 2018-2030 (US$M)
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U.S. paraffin wax market highlights
- The U.S. paraffin wax market generated a revenue of USD 328.7 million in 2022 and is expected to reach USD 456.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 4.2% from 2023 to 2030.
- In terms of segment, packaging 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 328.7 million |
| Market revenue in 2030 | USD 456.6 million |
| Growth rate | 4.2% (CAGR from 2022 to 2030) |
| Largest segment | Packaging |
| 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, U.S. accounted for 4.1% 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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U.S. 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.
Packaging was the largest segment with a revenue share of 30.45% in 2022. Horizon Databook has segmented the U.S. paraffin wax market based on candles, packaging, cosmetics, hotmelts, board sizing, rubber covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. packaging industry has several regulations in place, typically for packaging of food, cosmetics and drugs to enhance consumer safety. Packaging and labelling of food material contact packages is majorly monitored by Food and Drug Administration.
Furthermore, National Environmental Policy Act in the country is responsible for surveying and implementing policies for the applied packaging materials used in U.S. The formulators of packaging materials present in the U.S. ecosystem strictly adheres to these policies and the materials used are scrutinized by these regulatory authorities.
Candles are usually sold through specialty shops, departmental stores and mass merchandisers. Seasonal demand of scented candles goes rapidly upwards during Christmas and other occasions as candles are the most commonly gifted items in the country. An average U.S. resident purchases candles every week and prefers utilizing at their homes as stress reliving therapy.
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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 country-level data and insights on the U.S. paraffin wax market , including forecasts for subscribers. This country databook contains high-level insights into U.S. paraffin wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. paraffin wax market size, by application, 2018-2030 (US$M)
U.S. Paraffin Wax Market Outlook Share, 2022 & 2030 (US$M)
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