Albany, NY -- (SBWIRE) -- 02/04/2015 -- Wax is used in most of the things we use on a daily basis, such as cosmetics, candles, packaging, adhesives, and rubber. The indispensible utility of these products has put the global wax market in top gear, taking it to new highs. Wax is predominantly used not just in household products, but also in the pharmaceutical industry. Wax was one of the first products harnessed by mankind. Over the years it has evolved to be a versatile class of chemical compounds that is malleable at ambient temperature.

The chemical structure of wax is a complex one. The normal alkanes that come with a huge spectrum of molecular weight constitute a large part of the molecular structure of wax. The biggest advantage of wax is that it offers incredible resistance to water and air. It is this property of wax that makes it a popular item in several end-user industries such as adhesives, rubber, packaging, and cosmetics. More and more industries starting to use wax is fueling the growth of the global wax market.

Get Sample Report Copy : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1015

Constituents of the Global Wax Market

The global wax market is segmented on the basis of products, end-user industry, and regions. The products under the global wax industry are petroleum and mineral wax, synthetic wax, and natural wax. The petroleum and mineral wax segment is further fragmented into paraffin wax, microcrystalline wax, and others which includes petroleum jelly and semi-crystalline wax, among others. The synthetic wax segment is divided into polymer wax, gas-to-liquids wax, and others, which includes Montan wax. The natural wax segment is inclusive of vegetable wax, beeswax, animal wax, Japan wax, and rice bran wax amongst others. The end-user segment includes sectors such as candles, wood and fire-logs, rubber, adhesives, cosmetics, and others such as laminates, inks, polishes, crayons, and insulation. Geographically, the global wax market is segmented into regions such as North America, Asia Pacific, Central and South America, Middle East and Africa, and Europe.

Synthetic Wax Segment to Grow Rapidly :

Analysts stated the petroleum & mineral wax segment held the largest market share in the global wax market in 2013. However, this segment is expected to grow at a much slower pace in the coming few years. On the other hand, synthetic wax is expected to be the fastest growing segment in the coming five years. In 2013, the synthetic wax segment held an 11% market share in the global wax market.

Candles Drive the Global Wax Market

The candles segment held the biggest market share among end-user industries in terms of volume in 2013. Its market share was accounted at 41% in 2013. Analysts predict this segment will continue to show the highest growth rate in the next five years. The prime factor fueling the growth of this segment is the increasing use of decorative, luxury, and scented candles.

The packaging and cosmetics segments will also witness rapid growth in the same timeframe in the global wax market. As the beauty industry finds new markets and develops innovative lines of products, the cosmetic segment of the global wax market will grow, as wax is a crucial ingredient in several cosmetic formulations. Additionally, it is a preferred constituent, as it possesses properties which help keep skin moisturized and hydrated.

Asia Pacific Grows on Manufacturing Cues

Amongst the regional classification, Asia Pacific was the leading region in 2013. This region has been witnessing a growing demand from end-user industries such as candles, packaging, adhesive, and cosmetics. Additionally, as Asia Pacific is a booming manufacturing hub for big players, the global wax market is expected to find a huge market presence here in the near future. Some of the key players in the global wax market such as China National Petroleum Corporation (CNPC), Exxon Mobil Corporation, Total Petrochemicals & Refining USA, Inc., The International Group, Inc. (IGI), Sinopec Limited and Royal Dutch Shell plc, Sasol Wax, Lukoil, and Petróleos de Venezuela, SA are molding this market with their plans for future growth and expansion

Browse Full Global Wax Market Report With Complete TOC @ http://www.transparencymarketresearch.com/wax-market.html

About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact :

Mr. Nachiket Ghumare
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Blog : https://researchandreports.wordpress.com/