Asia Pacific Industrial Wax Market Forecast 2017-2026
KEY FINDINGS Asia-Pacific is the fastest growing region in the global industrial wax market. In Asia-Pacific, China is leading the APAC market while India is growing at a rapid pace. The market for Industrial wax in the region is projected to grow at an approximate CAGR of 5.46% during the forecast period 2017-2026. The growing usage of Industrial wax and increasing demand from the candle applications are the factors driving the market growth in the Asia Pacific region.
MARKET INSIGHTS The Industrial wax market is segmented on the basis of type, geography, and application. Based on the application the market is segregated into packaging, food, hot melt adhesives, candles, cosmetics & personal care, tyres & rubber, coatings & polishes, and others. The Industrial wax market by type is segmented into fossil-based waxes, synthetic wax, and bio-based waxes. The APAC Industrial wax market comprises of countries like China, South Korea, India, Japan, and Rest of Asia-Pacific. The Candle application market contributes a colossal market share across the geography. The increase in usage of decorating items as well as for therapeutic purposes is growing the market rapidly.
COMPETITIVE INSIGHTS Evonik Industries, The Blayson Group Ltd., Royal Dutch Shell Plc, Numaligarh Refinery Ltd., Sinopec Corp, Oil Co., International Group Inc., Lukoil PJSC, Sasol Ltd, and HCI are the companies mentioned in the Asia Pacific industrial wax market.