U.S. Wax Market Size & Outlook, 2023-2030
U.S. wax market, 2018-2030 (US$M)
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U.S. wax market highlights
- The U.S. wax market generated a revenue of USD 2,542.3 million in 2023 and is expected to reach USD 3,462.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 4.5% 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 2,542.3 million |
| Market revenue in 2030 | USD 3,462.7 million |
| Growth rate | 4.5% (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, U.S. accounted for 24.3% 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 |
|---|
U.S. 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 63.37% in 2023. Horizon Databook has segmented the U.S. wax market based on mineral wax, synthetic wax, natural wax covering the revenue growth of each sub-segment from 2018 to 2030.
In the U.S., the expanding construction sector is projected to boost the use of adhesives & sealants in building industry. This is expected to positively impact the demand for wax in the near future. Furthermore, the demand for cosmetic products in the U.S. is increasing on account of surged consumption of skincare products such as creams, peels, face masks, and other cosmetics.
The cosmetics industry has witnessed a shift in consumer preference from synthetic personal care products toward natural-derived counterparts, which is expected to open new market avenues for natural wax forms.
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Target buyers of U.S. 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 U.S. wax market , including forecasts for subscribers. This country databook contains high-level insights into U.S. wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. wax market size, by product, 2018-2030 (US$M)
U.S. Wax Market Outlook Share, 2023 & 2030 (US$M)
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