Middle East & Africa Wax Market Size & Outlook, 2023-2030
Middle East & Africa wax market, 2018-2030 (US$M)
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MEA wax market highlights
- The MEA wax market generated a revenue of USD 243.6 million in 2023.
- The market is expected to grow at a CAGR of 3.6% 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.
MEA data book summary
| Market revenue in 2023 | USD 243.6 million |
| Market revenue in 2030 | USD 313.1 million |
| Growth rate | 3.6% (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, MEA region accounted for 2.3% 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 |
|---|
Middle East & Africa 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 70.77% in 2023. Horizon Databook has segmented the Middle East & Africa wax market based on mineral wax, synthetic wax, natural wax covering the revenue growth of each sub-segment from 2018 to 2030.
Expanding construction sector, mainly in the UAE and Qatar, on account of economic progress, advanced real estate regulatory frameworks, and increasing infrastructure projects, is expected to boost the growth of the Middle East & Africa wax market over the coming years.
In addition, various factors including positive demographics, favorable macroeconomics, and rising tourism activities are anticipated to promote the growth of automotive sector, thereby propelling the demand for waxes in adhesives and rubber & plastics processing applications over the forecast period.
Growing industrialization in the region, mainly in Saudi Arabia and South Africa, is further projected to augment the demand for wax sealants. The demand for adhesives in pressure-sensitive applications across packaging and construction sectors is expected to fuel the growth of wax market.
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Target buyers of Middle East & Africa 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 continent-level data and insights on the Middle East & Africa wax market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa wax market
Middle East & Africa Wax Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa wax market
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