Latin America Wax Market Size & Outlook, 2023-2030
Latin America wax market, 2018-2030 (US$M)
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Latin America wax market highlights
- The Latin America wax market generated a revenue of USD 1,019.5 million in 2023.
- The market is expected to grow at a CAGR of 4.2% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,019.5 million |
| Market revenue in 2030 | USD 1,364.2 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Mineral wax |
| Fastest growing segment | Synthetic Wax |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 9.7% of the global wax market in 2023.
- 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 4,986.4 million by 2030.
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Wax Market Scope
Wax Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 73.99% in 2023. Horizon Databook has segmented the Latin America wax market based on mineral wax, synthetic wax, natural wax covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in plastics and rubber-processing activities in Argentina, Brazil, and Columbia is expected to have a positive impact on wax markets across Central & South America. The emergence of construction companies in Chile and Peru owing to stable economic growth is anticipated to present potential to increase market growth in the region.
The growth of various industries, such as medical device, FMCG, furniture, and electronics, owing to urbanization and rising population is anticipated to fuel the demand for wax used in packaging applications.
Central & South America wax market is projected to witness substantial growth over the forecast period, primarily fueled by the increasing consumption of wax in key applications such as candles, cosmetics & toiletries, and adhesives manufacturing.
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Our clientele includes a mix of 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 continent-level data and insights on the Latin America wax market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America wax market size, by country, 2018-2030 (US$M)
Latin America Wax Market Outlook Share, 2023 & 2030 (US$M)
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