Canada Wax Market Size & Outlook, 2023-2030
Canada wax market, 2018-2030 (US$M)
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Canada wax market highlights
- The Canada wax market generated a revenue of USD 242.6 million in 2023 and is expected to reach USD 334.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.7% 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 242.6 million |
| Market revenue in 2030 | USD 334.7 million |
| Growth rate | 4.7% (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, Canada accounted for 2.3% 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 North America, U.S. wax market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 334.7 million by 2030.
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Wax Market Scope
Wax Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 70.57% in 2023. Horizon Databook has segmented the Canada wax market based on mineral wax, synthetic wax, natural wax covering the revenue growth of each sub-segment from 2018 to 2030.
Wax is used in a wide array of cosmetics including primer, lipstick, concealer, face contour cream, foundation, kohl, eyeliner, and mascara. Cosmetics industry in Canada is fast moving in terms of skincare product consumption, which is anticipated to augment the demand for wax over the forecast period.
In addition, candle making industry in Canada is projected to witness substantial growth on account of the rising popularity of soy wax candles. Soy candles are made from soybean oil and burn about 30% longer than paraffin candles and do not emit noxious petroleum-based pollutants.
However, paraffin wax has a wide range of applications including leather treating, metal coatings, paint & varnish removers, road marking paints, shoe polishes, stop-off wax for etching, tissue embedding, toilet bowl gasket, vine grafting, and rodenticides.
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Target buyers of Canada 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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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 country-level data and insights on the Canada wax market , including forecasts for subscribers. This country databook contains high-level insights into Canada wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada wax market size, by product, 2018-2030 (US$M)
Canada Wax Market Outlook Share, 2023 & 2030 (US$M)
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