North America Wax Market Size & Outlook, 2023-2030
North America wax market, 2018-2030 (US$M)
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North America wax market highlights
- The North America wax market generated a revenue of USD 2,814.8 million in 2023.
- The market is expected to grow at a CAGR of 4.6% 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.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 2,814.8 million |
| Market revenue in 2030 | USD 3,847.4 million |
| Growth rate | 4.6% (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, North America region accounted for 26.9% 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 |
|---|
North 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 64.03% in 2023. Horizon Databook has segmented the North America wax market based on mineral wax, synthetic wax, natural wax covering the revenue growth of each sub-segment from 2018 to 2030.
Packaging segment constitutes a significant share of the region’s wax demand in 2021 and is projected to reflect a moderate growth rate over the forecast period due to the intervention of multiple feasible wax-based packaging solutions such as flexible packaging, IBCs and more which are increasingly being adopted by the companies.
North America paraffin wax market is expected to grow owing to the presence of various personal care and cosmetics companies such as Colgate-Palmolive, Maybelline, Avon, Unilever, Johnson & Johnson, and Procter & Gamble among others.
Packaging application segment accounted for 30.49% of the total North American wax market share in 2021 in terms of volume. In corrugated board applications, food-grade wax is used to corrugate containers as it imparts strength and waterproof property to the packaging during transportation.
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Target buyers of North America 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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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 North America wax market , including forecasts for subscribers. This continent databook contains high-level insights into North America wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America wax market size, by country, 2018-2030 (US$M)
North America Wax Market Outlook Share, 2023 & 2030 (US$M)
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