Brazil Wax Market Size & Outlook, 2023-2030
Brazil wax market, 2018-2030 (US$M)
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Brazil wax market highlights
- The Brazil wax market generated a revenue of USD 456.6 million in 2023 and is expected to reach USD 606.6 million by 2030.
- The Brazil market is expected to grow at a CAGR of 4.1% from 2024 to 2030.
- In terms of segment, mineral wax was the largest revenue generating product in 2023.
- Synthetic Wax is the most lucrative product segment registering the fastest growth during the forecast period.
Wax market data book summary
| Market revenue in 2023 | USD 456.6 million |
| Market revenue in 2030 | USD 606.6 million |
| Growth rate | 4.1% (CAGR from 2023 to 2030) |
| Largest segment | Mineral wax |
| Fastest growing segment | Synthetic Wax |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Mineral Wax, Synthetic Wax, Natural Wax |
| Key market players worldwide | China Petroleum & Chemical Corp Class H, PetroChina Co Ltd Class H, HF Sinclair Corp, BP PLC, Baker Hughes Co Class A, Exxon Mobil Corp, Sasol Ltd, American International Group Inc, Evonik Industries AG, Basf SE, Dow Inc, Honeywell International Inc, Shell PLC, Mitsui Chemicals Inc |
Other key industry trends
- In terms of revenue, Brazil accounted for 4.4% of the global wax market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil wax market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 606.6 million by 2030.
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Wax Market Scope
Wax Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Brazil 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 wax market will help companies and investors design strategic landscapes.
Mineral wax was the largest segment with a revenue share of 73.98% in 2023. Horizon Databook has segmented the Brazil wax market based on mineral wax, synthetic wax, natural wax covering the revenue growth of each sub-segment from 2018 to 2030.
With respect to carnauba wax, Brazil is characterized by sufficient supply and availability of raw material (palm oil). The extraction of the wax from the Brazilian palm tree leaves is a labor-intensive process, thus, resulting in high cost. However, the processing and subsequent filtering of the wax are cheaper and lead to low setup cost.
Owing to the aforementioned reasons, the raw material suppliers extract the wax in one location and carry out the subsequent processes in a different location. Therefore, majority of the manufacturers in carnauba wax industry are based in Brazil.
The labor cost is less during this season due to the low availability of other employment opportunities for the daily wage earners. However, the extraction process of crude wax is quite primitive in nature with minimum indulgence of advanced techniques, such as leaf drying, which eventually leads to high time requirement for the entire extraction process.
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Target buyers of Brazil wax market databook
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Our clientele includes a mix of 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 Brazil wax market , including forecasts for subscribers. This country databook contains high-level insights into Brazil wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil wax market size, by product, 2018-2030 (US$M)
Brazil Wax Market Outlook Share, 2023 & 2030 (US$M)
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