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Dec 19, 2017

Paraffin Wax Market Analysis - By Application, Region, Country & Segment - Increasing Demand for Paraffin Waxes in Flexible Packaging - Research and Markets

January 16, 2018 15:21 PM BEIJING Time

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Paraffin Wax Market, 2014-2025" report to their offering.

The global paraffin wax market is expected to reach USD 7.27 billion by 2025. Increasing demand for paraffin waxes in flexible packaging, candle manufacturing, rubber, and cosmetics is expected to aid in market expansion over the next nine years. Rising consumption of these products as a rheology modifier, electrical insulator, friction reducer, plasticizer, and flame retardant is expected to increase market size over the forecast period.

Paraffin waxes are used in flexible packaging as they provide an excellent barrier against odor and gas transmission. The growing food & beverage sector in developing countries including China, Japan, India, South Korea, South Africa, and Brazil is expected to stimulate packaging growth, which in turn will drive product demand over the upcoming years.

The global industry demand was 3,461.8 kilo tons in 2015 and is expected to grow substantially on account of increasing demand for home fragrance products in countries including China, the UK, India, and the U.S.

Rising demand for creams, lipsticks, ointments, and personal care products is expected to drive industry growth. Developing personal care industry in countries including the U.S., India, France, China, Brazil, Argentina, Russia, Indonesia, South Africa, Thailand, Saudi Arabia, and UAE is further expected to create growth opportunities for the product over the upcoming years.


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