North America Wax Market Size, Share & Trends Analysis Report By Type (Paraffin/Mineral Wax, Synthetic Wax, Natural Wax, and Other Types), By Application, By Country and Growth Forecast, 2024 - 2031

The North America Wax Market would witness market growth of 4.0% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 867.22 kilo tonnes, showcasing a growth of 23.0% (2020-2023).

Paraffin or mineral wax is the most commonly used type of wax, derived from petroleum. Its versatility makes it popular in applications like candle making, packaging, and cosmetics. Paraffin wax is favored for its cost-effectiveness and ability to hold fragrances and colors well, particularly in candle production. However, its petroleum base has raised environmental concerns, leading to a growing interest in sustainable alternatives. Thus, by the year 2031, 963.60 kilo tonnes of mineral wax would be utilized in US.

The US market dominated the North America Wax Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,153.1 million by 2031. The Canada market is expected to witness a CAGR of 4.7% during (2024 - 2031). Additionally, The Mexico market would register a CAGR of 6% during (2024 - 2031).

The market refers to the global industry involved in producing, distributing, and selling various types of waxes. Waxes are solid organic compounds at room temperature but melt at relatively low temperatures, typically above 40°C (104°F). They are hydrophobic, meaning they repel water, and have a wide range of physical and chemical properties depending on their composition and processing methods.

Waxes have various applications across various industries, each utilizing their unique properties to meet specific needs. For example, one of the oldest and most traditional wax uses is in candle making. Waxes such as paraffin, beeswax, and soy wax produce candles for illumination, decoration, religious ceremonies, and aromatherapy. In addition, waxes are used in the packaging industry as coatings, laminates, and sealants to provide moisture resistance, barrier properties, and improved printability to packaging materials. Wax-coated paper and cardboard are commonly used in food packaging, corrugated boxes, and beverage cartons.

The Canadian cosmetics industry is expanding for several reasons, including urbanization, shifting consumer tastes, the impact of social media, and beauty trends. Waxes are crucial in cosmetic formulations, serving as emollients, thickeners, stabilizers, and texture enhancers in various skincare, haircare, and makeup products. As the demand for cosmetics grows, there is a corresponding increase in the consumption of waxes used in cosmetic formulations. As per the International Trade Administration (ITA), in 2021, the Canadian cosmetics sector generated approximately USD 1.24 billion in income. Cosmetics sector is anticipated to generate USD 1.8 billion in sales by 2024, an annual increase of 1.45%. Hence, the increasing cosmetics sector and rising production of packaging material in the region are driving the market's growth.

Free Valuable Insights: The Wax Market is Predict to reach USD 14.5 Billion by 2031, at a CAGR of 4.7%

Based on Type, the market is segmented into Paraffin/Mineral Wax, Synthetic Wax, Natural Wax, and Other Types. Based on Application, the market is segmented into Candles, Packaging, Emulsions, Hot Melts, Floor Polishes, and Other Applications. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• The Dow Chemical Company
• Evonik Industries AG (RAG-Stiftung)
• Akzo Nobel N.V.
• Exxon Mobil Corporation
• Solvay SA
• BASF SE
• Sasol Limited
• Shell plc
• Honeywell International, Inc.
• Kraton Corporation

North America Wax Market Report Segmentation

By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)

• Paraffin/Mineral Wax
• Synthetic Wax
• Natural Wax
• Other Types

By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)

• Candles
• Packaging
• Emulsions
• Hot Melts
• Floor Polishes
• Other Applications

By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)

• US
• Canada
• Mexico
• Rest of North America

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Wax Market, by Type
1.4.2 North America Wax Market, by Application
1.4.3 North America 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
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis

Chapter 4. North America Wax Market by Type
4.1 North America Paraffin/Mineral Wax Market by Country
4.2 North America Synthetic Wax Market by Country
4.3 North America Natural Wax Market by Country
4.4 North America Other Types Market by Country

Chapter 5. North America Wax Market by Application
5.1 North America Candles Market by Country
5.2 North America Packaging Market by Country
5.3 North America Emulsions Market by Country
5.4 North America Hot Melts Market by Country
5.5 North America Floor Polishes Market by Country
5.6 North America Other Applications Market by Country

Chapter 6. North America Wax Market by Country
6.1 US Wax Market
6.1.1 US Wax Market by Type
6.1.2 US Wax Market by Application
6.2 Canada Wax Market
6.2.1 Canada Wax Market by Type
6.2.2 Canada Wax Market by Application
6.3 Mexico Wax Market
6.3.1 Mexico Wax Market by Type
6.3.2 Mexico Wax Market by Application
6.4 Rest of North America Wax Market
6.4.1 Rest of North America Wax Market by Type
6.4.2 Rest of North America Wax Market by Application

Chapter 7. Company Profiles
7.1 Exxon Mobil Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 SWOT Analysis
7.2 Solvay SA
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental Analysis
7.2.4 Research & Development Expenses
7.2.5 SWOT Analysis
7.3 BASF SE
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 SWOT Analysis
7.4 The Dow Chemical Company
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 SWOT Analysis
7.5 Sasol Limited
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 SWOT Analysis
7.6 Shell plc
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 SWOT Analysis
7.7 Evonik Industries AG (RAG-Stiftung)
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 SWOT Analysis
7.8 Akzo Nobel N.V.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 SWOT Analysis
7.9 Kraton Corporation
7.9.1 Company Overview
7.9.2 SWOT Analysis
7.10. Honeywell International, Inc.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expenses
7.10.5 SWOT Analysis

TABLE 1 North America Wax Market, 2020 - 2023, USD Million
TABLE 2 North America Wax Market, 2024 - 2031, USD Million
TABLE 3 North America Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 4 North America Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 5 North America Wax Market by Type, 2020 - 2023, USD Million
TABLE 6 North America Wax Market by Type, 2024 - 2031, USD Million
TABLE 7 North America Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 8 North America Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 9 North America Paraffin/Mineral Wax Market by Country, 2020 - 2023, USD Million
TABLE 10 North America Paraffin/Mineral Wax Market by Country, 2024 - 2031, USD Million
TABLE 11 North America Paraffin/Mineral Wax Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 12 North America Paraffin/Mineral Wax Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 13 North America Synthetic Wax Market by Country, 2020 - 2023, USD Million
TABLE 14 North America Synthetic Wax Market by Country, 2024 - 2031, USD Million
TABLE 15 North America Synthetic Wax Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 16 North America Synthetic Wax Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 17 North America Natural Wax Market by Country, 2020 - 2023, USD Million
TABLE 18 North America Natural Wax Market by Country, 2024 - 2031, USD Million
TABLE 19 North America Natural Wax Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 20 North America Natural Wax Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 21 North America Other Types Market by Country, 2020 - 2023, USD Million
TABLE 22 North America Other Types Market by Country, 2024 - 2031, USD Million
TABLE 23 North America Other Types Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 24 North America Other Types Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 25 North America Wax Market by Application, 2020 - 2023, USD Million
TABLE 26 North America Wax Market by Application, 2024 - 2031, USD Million
TABLE 27 North America Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 28 North America Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 29 North America Candles Market by Country, 2020 - 2023, USD Million
TABLE 30 North America Candles Market by Country, 2024 - 2031, USD Million
TABLE 31 North America Candles Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 32 North America Candles Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 33 North America Packaging Market by Country, 2020 - 2023, USD Million
TABLE 34 North America Packaging Market by Country, 2024 - 2031, USD Million
TABLE 35 North America Packaging Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 36 North America Packaging Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 37 North America Emulsions Market by Country, 2020 - 2023, USD Million
TABLE 38 North America Emulsions Market by Country, 2024 - 2031, USD Million
TABLE 39 North America Emulsions Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 40 North America Emulsions Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 41 North America Hot Melts Market by Country, 2020 - 2023, USD Million
TABLE 42 North America Hot Melts Market by Country, 2024 - 2031, USD Million
TABLE 43 North America Hot Melts Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 44 North America Hot Melts Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 45 North America Floor Polishes Market by Country, 2020 - 2023, USD Million
TABLE 46 North America Floor Polishes Market by Country, 2024 - 2031, USD Million
TABLE 47 North America Floor Polishes Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 48 North America Floor Polishes Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 49 North America Other Applications Market by Country, 2020 - 2023, USD Million
TABLE 50 North America Other Applications Market by Country, 2024 - 2031, USD Million
TABLE 51 North America Other Applications Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 52 North America Other Applications Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 53 North America Wax Market by Country, 2020 - 2023, USD Million
TABLE 54 North America Wax Market by Country, 2024 - 2031, USD Million
TABLE 55 North America Wax Market by Country, 2020 - 2023, Kilo Tonnes
TABLE 56 North America Wax Market by Country, 2024 - 2031, Kilo Tonnes
TABLE 57 US Wax Market, 2020 - 2023, USD Million
TABLE 58 US Wax Market, 2024 - 2031, USD Million
TABLE 59 US Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 60 US Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 61 US Wax Market by Type, 2020 - 2023, USD Million
TABLE 62 US Wax Market by Type, 2024 - 2031, USD Million
TABLE 63 US Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 64 US Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 65 US Wax Market by Application, 2020 - 2023, USD Million
TABLE 66 US Wax Market by Application, 2024 - 2031, USD Million
TABLE 67 US Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 68 US Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 69 Canada Wax Market, 2020 - 2023, USD Million
TABLE 70 Canada Wax Market, 2024 - 2031, USD Million
TABLE 71 Canada Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 72 Canada Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 73 Canada Wax Market by Type, 2020 - 2023, USD Million
TABLE 74 Canada Wax Market by Type, 2024 - 2031, USD Million
TABLE 75 Canada Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 76 Canada Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 77 Canada Wax Market by Application, 2020 - 2023, USD Million
TABLE 78 Canada Wax Market by Application, 2024 - 2031, USD Million
TABLE 79 Canada Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 80 Canada Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 81 Mexico Wax Market, 2020 - 2023, USD Million
TABLE 82 Mexico Wax Market, 2024 - 2031, USD Million
TABLE 83 Mexico Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 84 Mexico Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 85 Mexico Wax Market by Type, 2020 - 2023, USD Million
TABLE 86 Mexico Wax Market by Type, 2024 - 2031, USD Million
TABLE 87 Mexico Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 88 Mexico Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 89 Mexico Wax Market by Application, 2020 - 2023, USD Million
TABLE 90 Mexico Wax Market by Application, 2024 - 2031, USD Million
TABLE 91 Mexico Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 92 Mexico Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 93 Rest of North America Wax Market, 2020 - 2023, USD Million
TABLE 94 Rest of North America Wax Market, 2024 - 2031, USD Million
TABLE 95 Rest of North America Wax Market, 2020 - 2023, Kilo Tonnes
TABLE 96 Rest of North America Wax Market, 2024 - 2031, Kilo Tonnes
TABLE 97 Rest of North America Wax Market by Type, 2020 - 2023, USD Million
TABLE 98 Rest of North America Wax Market by Type, 2024 - 2031, USD Million
TABLE 99 Rest of North America Wax Market by Type, 2020 - 2023, Kilo Tonnes
TABLE 100 Rest of North America Wax Market by Type, 2024 - 2031, Kilo Tonnes
TABLE 101 Rest of North America Wax Market by Application, 2020 - 2023, USD Million
TABLE 102 Rest of North America Wax Market by Application, 2024 - 2031, USD Million
TABLE 103 Rest of North America Wax Market by Application, 2020 - 2023, Kilo Tonnes
TABLE 104 Rest of North America Wax Market by Application, 2024 - 2031, Kilo Tonnes
TABLE 105 Key Information – Exxon Mobil Corporation
TABLE 106 Key Information – Solvay SA
TABLE 107 Key Information – BASF SE
TABLE 108 Key Information – The Dow Chemical Company
TABLE 109 Key Information – Sasol Limited
TABLE 110 Key Information – Shell plc
TABLE 111 Key Information – Evonik Industries AG
TABLE 112 Key information – Akzo Nobel N.V.
TABLE 113 Key Information – Kraton Corporation
TABLE 114 Key Information – Honeywell International, Inc.

List of Figures
FIG 1 Methodology for the research
FIG 2 North America Wax Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Wax Market
FIG 4 Porter’s Five Forces Analysis – Wax Market
FIG 5 North America Wax Market share by Type, 2023
FIG 6 North America Wax Market share by Type, 2031
FIG 7 North America Wax Market by Type, 2020 - 2031, USD Million
FIG 8 North America Wax Market share by Application, 2023
FIG 9 North America Wax Market share by Application, 2031
FIG 10 North America Wax Market by Application, 2020 - 2031, USD Million
FIG 11 North America Wax Market share by Country, 2023
FIG 12 North America Wax Market share by Country, 2031
FIG 13 North America Wax Market by Country, 2020 - 2031, USD Million
FIG 14 SWOT Analysis: Exxon Mobil Corporation
FIG 15 SWOT Analysis: Solvay SA
FIG 16 SWOT Analysis: BASF SE
FIG 17 SWOT Analysis: The Dow Chemical Company
FIG 18 SWOT Analysis: Sasol Limited
FIG 19 SWOT Analysis: Shell plc
FIG 20 SWOT Analysis: Evonik Industries AG
FIG 21 SWOT Analysis: Akzo Nobel N.V.
FIG 22 SWOT Analysis: Kraton Corporation
FIG 23 Swot analysis: Honeywell international, inc.