The slack wax market size has grown marginally in recent years. It will grow from $3.96 billion in 2023 to $4.03 billion in 2024 at a compound annual growth rate (CAGR) of 1.9%. The expansion during the historical period can be attributed to global demand for candles and polishes, trends in petroleum refining, economic growth, and industrialization, regulatory changes in the wax industry, as well as global supply chain dynamics.
The slack wax market size is expected to see steady growth in the next few years. It will grow to $4.48 billion in 2028 at a compound annual growth rate (CAGR) of 2.6%. The anticipated growth in the forecast period can be attributed to renewable and sustainable trends, emerging market demand, a focus on specialty wax products, stringent environmental regulations, and the emphasis on global trade and supply chain resilience. Key trends expected in the forecast period involve increasing demand for high-quality slack wax grades, a focus on supply chain optimization and logistics, market expansion in emerging economies, stringent regulatory compliance in production, and application development for new end-use industries.
The slack wax market is expected to witness growth driven by the increasing demand from the cosmetic industry. The cosmetic industry involves the design, production, and sale of cosmetic products to enhance beauty. Slack wax is a vital raw material in the production of paraffin wax, widely used in various cosmetic preparations. A survey conducted by Catalina in 2022 revealed that approximately 52% of respondents planned to spend on beauty products, with about 19% increasing their expenditure on beauty products in 2022. The rising demand from the cosmetic industry is driving the growth of the slack wax market.
The slack wax market is expected to grow with the increasing demand for construction activities. Construction involves assembling materials to create structures, and slack wax is used as a cost-effective and versatile material for various construction applications. Reports from the United States Census Bureau in April 2023 indicate that the overall value of residential and non-residential construction in the US increased by over 8% between 2020 and 2021. This surge in construction activities contributes to the growth of the slack wax market.
Product innovation is a key trend in the slack wax market, with major companies concentrating on developing new and environmentally friendly products. Natura-Tec, a France-based personal care cosmetics company, launched the Natural Candle Wax Base in May 2022. This upcycled candle wax base is 100% vegan and palm-free, created from salvaged components during the processing of locally produced olive oil, contributing to a circular economy.
The prominent companies in the slack wax market are focusing on developing innovative products, such as 'eco-bio' chlorinated paraffin, to meet the growing demand for sustainable and environmentally friendly offerings. Altair Chimica S.p.A., an Italy-based chemicals company, installed a fourth reactor for the production of 'eco-bio' chlorinated paraffin in January 2022. This reactor, dedicated to producing ESSEBIOCHLOR, represents a significant step in eco-bio chlorinated paraffins, maximizing innovation, biodegradability, and environmental sustainability.
In March 2022, Awax Group, an Italy-based chemical company specializing in wax production and distribution, acquired Sasol Wax GmbH for an undisclosed amount. Through this acquisition, Awax Group aims to strengthen its technological leadership in the wax sector and broaden its range of wax products. Sasol Wax GmbH, a Germany-based company operating in natural and synthetic paraffin waxes, becomes part of Awax Group.
Major companies operating in the slack wax market report are China Petroleum & Chemical Corporation, ExxonMobil Corporation, Royal Dutch Shell PLC, BP PLC, PT Pertamina, Veolia Environnement SA, HF Sinclair Corporation, Daikin Industries Ltd., Johnson Controls International PLC, Carrier Global Corporation, Sasol Limited, Thai Oil Public Company Limited, IRPC Public Company Limited, Persol Corporation, Suez SA, KLK Oleo, Endress+Hauser Management AG, Eagle Petrochem Company, ALS Limited, NSF International, Panama Petrochem Ltd., American Refining Group Inc., Meade-King Robinson & Co. Ltd., Polwax S A, Iranol Company, RAHA Paraffin Co., ATDM Co. Ltd., Industrial Raw Materials LLC, Hase Petroleum Wax Co. Ltd., Carmel Industries.
Asia-Pacific was the largest region in the slack wax market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global slack wax market report during the forecast period. The regions covered in the slack wax market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the slack wax market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of slack wax include slack wax LMO, slack wax SPO, slack wax DAO, and slack wax MMO. Slack Wax LMO, also known as lubricating oil, consists of hydrocarbon chains in a range of 20 to 50 carbon atoms, used to lubricate machine parts and reduce friction, providing a layer of protection against corrosion. Major grades of slack waxes, both light and heavy, find applications in candles, polishes, carbon paper, canvas coatings, composite wood panels, and other areas.
The slack wax market research report is one of a series of new reports that provides slack wax market statistics, including slack wax industry global market size, regional shares, competitors with a slack wax market share, detailed slack wax market segments, market trends and opportunities, and any further data you may need to thrive in the slack wax industry. This slack wax market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The slack wax market consists of sales of low-neutral, medium-neutral, and heavy-neutral slack waxes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The slack wax market size is expected to see steady growth in the next few years. It will grow to $4.48 billion in 2028 at a compound annual growth rate (CAGR) of 2.6%. The anticipated growth in the forecast period can be attributed to renewable and sustainable trends, emerging market demand, a focus on specialty wax products, stringent environmental regulations, and the emphasis on global trade and supply chain resilience. Key trends expected in the forecast period involve increasing demand for high-quality slack wax grades, a focus on supply chain optimization and logistics, market expansion in emerging economies, stringent regulatory compliance in production, and application development for new end-use industries.
The slack wax market is expected to witness growth driven by the increasing demand from the cosmetic industry. The cosmetic industry involves the design, production, and sale of cosmetic products to enhance beauty. Slack wax is a vital raw material in the production of paraffin wax, widely used in various cosmetic preparations. A survey conducted by Catalina in 2022 revealed that approximately 52% of respondents planned to spend on beauty products, with about 19% increasing their expenditure on beauty products in 2022. The rising demand from the cosmetic industry is driving the growth of the slack wax market.
The slack wax market is expected to grow with the increasing demand for construction activities. Construction involves assembling materials to create structures, and slack wax is used as a cost-effective and versatile material for various construction applications. Reports from the United States Census Bureau in April 2023 indicate that the overall value of residential and non-residential construction in the US increased by over 8% between 2020 and 2021. This surge in construction activities contributes to the growth of the slack wax market.
Product innovation is a key trend in the slack wax market, with major companies concentrating on developing new and environmentally friendly products. Natura-Tec, a France-based personal care cosmetics company, launched the Natural Candle Wax Base in May 2022. This upcycled candle wax base is 100% vegan and palm-free, created from salvaged components during the processing of locally produced olive oil, contributing to a circular economy.
The prominent companies in the slack wax market are focusing on developing innovative products, such as 'eco-bio' chlorinated paraffin, to meet the growing demand for sustainable and environmentally friendly offerings. Altair Chimica S.p.A., an Italy-based chemicals company, installed a fourth reactor for the production of 'eco-bio' chlorinated paraffin in January 2022. This reactor, dedicated to producing ESSEBIOCHLOR, represents a significant step in eco-bio chlorinated paraffins, maximizing innovation, biodegradability, and environmental sustainability.
In March 2022, Awax Group, an Italy-based chemical company specializing in wax production and distribution, acquired Sasol Wax GmbH for an undisclosed amount. Through this acquisition, Awax Group aims to strengthen its technological leadership in the wax sector and broaden its range of wax products. Sasol Wax GmbH, a Germany-based company operating in natural and synthetic paraffin waxes, becomes part of Awax Group.
Major companies operating in the slack wax market report are China Petroleum & Chemical Corporation, ExxonMobil Corporation, Royal Dutch Shell PLC, BP PLC, PT Pertamina, Veolia Environnement SA, HF Sinclair Corporation, Daikin Industries Ltd., Johnson Controls International PLC, Carrier Global Corporation, Sasol Limited, Thai Oil Public Company Limited, IRPC Public Company Limited, Persol Corporation, Suez SA, KLK Oleo, Endress+Hauser Management AG, Eagle Petrochem Company, ALS Limited, NSF International, Panama Petrochem Ltd., American Refining Group Inc., Meade-King Robinson & Co. Ltd., Polwax S A, Iranol Company, RAHA Paraffin Co., ATDM Co. Ltd., Industrial Raw Materials LLC, Hase Petroleum Wax Co. Ltd., Carmel Industries.
Asia-Pacific was the largest region in the slack wax market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global slack wax market report during the forecast period. The regions covered in the slack wax market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the slack wax market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of slack wax include slack wax LMO, slack wax SPO, slack wax DAO, and slack wax MMO. Slack Wax LMO, also known as lubricating oil, consists of hydrocarbon chains in a range of 20 to 50 carbon atoms, used to lubricate machine parts and reduce friction, providing a layer of protection against corrosion. Major grades of slack waxes, both light and heavy, find applications in candles, polishes, carbon paper, canvas coatings, composite wood panels, and other areas.
The slack wax market research report is one of a series of new reports that provides slack wax market statistics, including slack wax industry global market size, regional shares, competitors with a slack wax market share, detailed slack wax market segments, market trends and opportunities, and any further data you may need to thrive in the slack wax industry. This slack wax market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The slack wax market consists of sales of low-neutral, medium-neutral, and heavy-neutral slack waxes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Slack Wax Market Characteristics3. Slack Wax Market Trends and Strategies32. Global Slack Wax Market Competitive Benchmarking33. Global Slack Wax Market Competitive Dashboard34. Key Mergers and Acquisitions in the Slack Wax Market
4. Slack Wax Market - Macro Economic Scenario
5. Global Slack Wax Market Size and Growth
6. Slack Wax Market Segmentation
7. Slack Wax Market Regional and Country Analysis
8. Asia-Pacific Slack Wax Market
9. China Slack Wax Market
10. India Slack Wax Market
11. Japan Slack Wax Market
12. Australia Slack Wax Market
13. Indonesia Slack Wax Market
14. South Korea Slack Wax Market
15. Western Europe Slack Wax Market
16. UK Slack Wax Market
17. Germany Slack Wax Market
18. France Slack Wax Market
19. Italy Slack Wax Market
20. Spain Slack Wax Market
21. Eastern Europe Slack Wax Market
22. Russia Slack Wax Market
23. North America Slack Wax Market
24. USA Slack Wax Market
25. Canada Slack Wax Market
26. South America Slack Wax Market
27. Brazil Slack Wax Market
28. Middle East Slack Wax Market
29. Africa Slack Wax Market
30. Slack Wax Market Competitive Landscape and Company Profiles
31. Slack Wax Market Other Major and Innovative Companies
35. Slack Wax Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Slack Wax Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on slack wax market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for slack wax? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Slack Wax LMO; Slack Wax SPO; Slack Wax DAO; Slack Wax MMO
2) By Grade: Light; Heavy
3) By Application: Cosmetics; Candles; Polishes; Carbon Paper; Canvas Coatings; Composite Wood Panels; Other Applications
Key Companies Mentioned: China Petroleum & Chemical Corporation; ExxonMobil Corporation; Royal Dutch Shell plc; BP plc; PT Pertamina
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- China Petroleum & Chemical Corporation
- ExxonMobil Corporation
- Royal Dutch Shell plc
- BP plc
- PT Pertamina
- Veolia Environnement SA
- HF Sinclair Corporation
- Daikin Industries Ltd.
- Johnson Controls International plc
- Carrier Global Corporation
- Sasol Limited
- Thai Oil Public Company Limited
- IRPC Public Company Limited
- Persol Corporation
- Suez SA
- KLK Oleo
- Endress+Hauser Management AG
- Eagle Petrochem Company
- ALS Limited
- NSF International
- Panama Petrochem Ltd.
- American Refining Group Inc.
- Meade-King Robinson & Co. Ltd.
- Polwax S A
- Iranol Company
- RAHA Paraffin Co.
- ATDM Co. Ltd.
- Industrial Raw Materials LLC
- Hase Petroleum Wax Co. Ltd.
- Carmel Industries
