UK Wax Market Size & Outlook, 2023-2030
UK wax market, 2018-2030 (US$M)
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UK wax market highlights
- The UK wax market generated a revenue of USD 149.4 million in 2023 and is expected to reach USD 193.5 million by 2030.
- The UK market is expected to grow at a CAGR of 3.8% 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 149.4 million |
| Market revenue in 2030 | USD 193.5 million |
| Growth rate | 3.8% (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, UK accounted for 1.4% 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 Europe, Germany wax market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 910.4 million by 2030.
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Wax Market Scope
Wax Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 66.93% in 2023. Horizon Databook has segmented the UK wax market based on mineral wax, synthetic wax, natural wax covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for candles in the UK market is expected to witness significant growth on account of various directives initiated by the European Candles Association with respect to maintaining the quality of candles circulated in the country and other countries across Europe.
Apart from Germany and France, the UK is one of the major countries in Europe, which import beeswax. In the UK, beeswax is most extensively used in medical and pharmaceutical industries. Beeswax used in cosmetic industry accounts for a share of over 40% of the world trade.
The wax required in cosmetic industry needs to be in pure form and free from propolis. Other applications of beeswax, such as batik dyeing of textiles, confectionery coatings, and manufacturing crayons, are further expected to spur the market growth over the forecast period.
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Target buyers of UK 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 UK wax market , including forecasts for subscribers. This country databook contains high-level insights into UK wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK wax market size, by product, 2018-2030 (US$M)
UK Wax Market Outlook Share, 2023 & 2030 (US$M)
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