The North America Paraffin Wax Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 465.1 kilo tonnes, showcasing a growth of 4.3% (2019-2022).
Paraffin wax is a white or colorless, soft, solid substance derived from petroleum, coal, or shale oil, and it consists of a mixture of hydrocarbon molecules. This is due to the increasing number of candle applications, as paraffin is the most commonly used wax in candle manufacturing. Paraffin wax that has been refined is a primary component in the manufacture of candles. Furthermore, the increasing market demand for the product can be attributed to its exceptional water barrier and protective properties, which contribute to its utilization in the food industry for coating paper and cardboard.
Flexible packaging utilizes paraffin wax to establish freshness, moisture, and oil barriers and provide gloss and paraffin blends. Its primary advantages are the product's ability to provide a barrier against gases and odors (thereby preventing flavor loss or contamination), enhanced process efficiency, and resistance to water and water vapor. Additionally, a petroleum-derived product is exceptionally economical and has low viscosity. At high speeds, the application also necessitates comparatively inexpensive apparatus.
Paraffin wax finds applications in various industrial sectors, including adhesives, rubber, and textiles. The growth of manufacturing and industrial activities in North America contributes to the demand for paraffin wax. North America has stringent quality standards for various products containing paraffin wax. These aspects will boost the market growth in the coming years.
The US market dominated the North America Paraffin Wax Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,251.3 million by 2030. The Canada market is experiencing a CAGR of 7.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.2% during (2023 - 2030).
Based on Application, the market is segmented into Candles, Cosmetics, Packaging, Hot Melts, Rubber, Board Sizing and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Paraffin Wax Market is Predict to reach USD 11.4 Billion by 2030, at a CAGR of 5.1%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Petro China Company Limited (China National Petroleum Corporation), Sinopec Group (China Petrochemical Corporation), Sasol Limited, Exxon Mobil Corporation, (Petrobras) Petróleo Brasileiro S.A, Nippon Seiro Co., Ltd., H&R Gmbh & Co. KGaA, Honeywell International Inc., Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)
Scope of the Study
Market Segments Covered in the Report:
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Candles
- Cosmetics
- Packaging
- Hot Melts
- Rubber
- Board Sizing
- Others
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Petro China Company Limited (China National Petroleum Corporation)
- Sinopec Group (China Petrochemical Corporation)
- Sasol Limited
- Exxon Mobil Corporation
- (Petrobras) Petróleo Brasileiro S.A
- Nippon Seiro Co., Ltd.
- H&R Gmbh & Co. KGaA
- Honeywell International Inc.
- Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Paraffin Wax Market, by Application
1.4.2 North America Paraffin Wax Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. North America Paraffin Wax Market by Application
4.1 North America Candles Market by Country
4.2 North America Cosmetics Market by Country
4.3 North America Packaging Market by Country
4.4 North America Hot Melts Market by Country
4.5 North America Rubber Market by Country
4.6 North America Board Sizing Market by Country
4.7 North America Others Market by Country
Chapter 5. North America Paraffin Wax Market by Country
5.1 US Paraffin Wax Market
5.1.1 US Paraffin Wax Market by Application
5.2 Canada Paraffin Wax Market
5.2.1 Canada Paraffin Wax Market by Application
5.3 Mexico Paraffin Wax Market
5.3.1 Mexico Paraffin Wax Market by Application
5.4 Rest of North America Paraffin Wax Market
5.4.1 Rest of North America Paraffin Wax Market by Application
Chapter 6. Company Profiles
6.1 Petro China Company Limited (China National Petroleum Corporation)
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expenses
6.1.5 SWOT Analysis
6.2 Petrobras (Petróleo Brasileiro S.A.)
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Research & Development Expenses
6.2.5 SWOT Analysis
6.3 Nippon Seiro Co., Ltd
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Regional Analysis
6.4 H&R Gmbh & Co. KGaA
6.4.1 Company Overview
6.4.2 Financial Analysis
6.4.3 Segmental and Regional Analysis
6.4.4 Research & Development Expenses
6.5 Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Segmental and Regional Analysis
6.5.4 SWOT Analysis
6.6 Sinopec Group (China Petrochemical Corporation)
6.6.1 Company Overview
6.6.2 Financial Analysis
6.6.3 Research & Development Expenses
6.6.4 SWOT Analysis
6.7 Exxon Mobil Corporation
6.7.1 Company Overview
6.7.2 Financial Analysis
6.7.3 Segmental and Regional Analysis
6.7.4 Research & Development Expenses
6.7.5 SWOT Analysis
6.8 Honeywell International, Inc.
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Segmental and Regional Analysis
6.8.4 Research & Development Expenses
6.8.5 SWOT Analysis
6.9 Sasol Limited
6.9.1 Company Overview
6.9.2 Financial Analysis
TABLE 1 North America Paraffin Wax Market, 2019 - 2022, USD Million
TABLE 2 North America Paraffin Wax Market, 2023 - 2030, USD Million
TABLE 3 North America Paraffin Wax Market, 2019 - 2022, Kilo Tonnes
TABLE 4 North America Paraffin Wax Market, 2023 - 2030, Kilo Tonnes
TABLE 5 North America Paraffin Wax Market by Application, 2019 - 2022, USD Million
TABLE 6 North America Paraffin Wax Market by Application, 2023 - 2030, USD Million
TABLE 7 North America Paraffin Wax Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 8 North America Paraffin Wax Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 9 North America Candles Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Candles Market by Country, 2023 - 2030, USD Million
TABLE 11 North America Candles Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 12 North America Candles Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 13 North America Cosmetics Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Cosmetics Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Cosmetics Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 16 North America Cosmetics Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 17 North America Packaging Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Packaging Market by Country, 2023 - 2030, USD Million
TABLE 19 North America Hot Melts Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Hot Melts Market by Country, 2023 - 2030, USD Million
TABLE 21 North America Hot Melts Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 22 North America Hot Melts Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 23 North America Rubber Market by Country, 2019 - 2022, USD Million
TABLE 24 North America Rubber Market by Country, 2023 - 2030, USD Million
TABLE 25 North America Rubber Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 26 North America Rubber Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 27 North America Board Sizing Market by Country, 2019 - 2022, USD Million
TABLE 28 North America Board Sizing Market by Country, 2023 - 2030, USD Million
TABLE 29 North America Board Sizing Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 30 North America Board Sizing Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 31 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 32 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 33 North America Others Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 34 North America Others Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 35 North America Paraffin Wax Market by Country, 2019 - 2022, USD Million
TABLE 36 North America Paraffin Wax Market by Country, 2023 - 2030, USD Million
TABLE 37 North America Paraffin Wax Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 38 North America Paraffin Wax Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 39 US Paraffin Wax Market, 2019 - 2022, USD Million
TABLE 40 US Paraffin Wax Market, 2023 - 2030, USD Million
TABLE 41 US Paraffin Wax Market, 2019 - 2022, Kilo Tonnes
TABLE 42 US Paraffin Wax Market, 2023 - 2030, Kilo Tonnes
TABLE 43 US Paraffin Wax Market by Application, 2019 - 2022, USD Million
TABLE 44 US Paraffin Wax Market by Application, 2023 - 2030, USD Million
TABLE 45 US Paraffin Wax Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 46 US Paraffin Wax Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 47 Canada Paraffin Wax Market, 2019 - 2022, USD Million
TABLE 48 Canada Paraffin Wax Market, 2023 - 2030, USD Million
TABLE 49 Canada Paraffin Wax Market, 2019 - 2022, Kilo Tonnes
TABLE 50 Canada Paraffin Wax Market, 2023 - 2030, Kilo Tonnes
TABLE 51 Canada Paraffin Wax Market by Application, 2019 - 2022, USD Million
TABLE 52 Canada Paraffin Wax Market by Application, 2023 - 2030, USD Million
TABLE 53 Canada Paraffin Wax Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 54 Canada Paraffin Wax Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 55 Mexico Paraffin Wax Market, 2019 - 2022, USD Million
TABLE 56 Mexico Paraffin Wax Market, 2023 - 2030, USD Million
TABLE 57 Mexico Paraffin Wax Market, 2019 - 2022, Kilo Tonnes
TABLE 58 Mexico Paraffin Wax Market, 2023 - 2030, Kilo Tonnes
TABLE 59 Mexico Paraffin Wax Market by Application, 2019 - 2022, USD Million
TABLE 60 Mexico Paraffin Wax Market by Application, 2023 - 2030, USD Million
TABLE 61 Mexico Paraffin Wax Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 62 Mexico Paraffin Wax Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 63 Rest of North America Paraffin Wax Market, 2019 - 2022, USD Million
TABLE 64 Rest of North America Paraffin Wax Market, 2023 - 2030, USD Million
TABLE 65 Rest of North America Paraffin Wax Market, 2019 - 2022, Kilo Tonnes
TABLE 66 Rest of North America Paraffin Wax Market, 2023 - 2030, Kilo Tonnes
TABLE 67 Rest of North America Paraffin Wax Market by Application, 2019 - 2022, USD Million
TABLE 68 Rest of North America Paraffin Wax Market by Application, 2023 - 2030, USD Million
TABLE 69 Rest of North America Paraffin Wax Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 70 Rest of North America Paraffin Wax Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 71 Key Information Petro China company limited
TABLE 72 Key Information Petrobras
TABLE 73 Key Information Nippon seiro co., ltd.
TABLE 74 Key Information H&R Gmbh & co. kgaa
TABLE 75 Key Information Cepsa
TABLE 76 Key Information Sinopec Group
TABLE 77 Key Information Exxon Mobil Corporation
TABLE 78 Key Information Honeywell International, Inc.
TABLE 79 Key Information Sasol Limited
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Paraffin Wax Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Paraffin Wax Market
FIG 4 Porter’s Five Forces Analysis Paraffin wax market
FIG 5 North America Paraffin Wax Market share by Application, 2022
FIG 6 North America Paraffin Wax Market share by Application, 2030
FIG 7 North America Paraffin Wax Market by Application, 2019 - 2030, USD Million
FIG 8 North America Paraffin Wax Market share by Country, 2022
FIG 9 North America Paraffin Wax Market share by Country, 2030
FIG 10 North America Paraffin Wax Market by Country, 2019 - 2030, USD Million
FIG 11 Swot analysis: Petro China Company Limited
FIG 12 Swot analysis: Petrobras
FIG 13 Swot analysis: Cepsa
FIG 14 Swot Analysis: China Petrochemical Corporation
FIG 15 SWOT Analysis: Exxon Mobil Corporation
FIG 16 Swot analysis: Honeywell international, inc.