Product Code: ETC053104 | Publication Date: Aug 2023 | Updated Date: Apr 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India Wax Market registered a growth of 41.05% in value shipments in 2022 as compared to 2021 and an increase of 5.54% CAGR in 2022 over a period of 2017. In Wax Market India is becoming less competitive as HHI index in 2022 was 1078 while in 2017 it was 1024. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Wax Market.
The India wax market is expected to grow at a compound annual growth rate (CAGR) of 5.7% during the period 2020-2026. The rising demand for paraffin and other petroleum-based products in various industrial applications such as cosmetics & personal care, rubber, packaging, adhesives and coatings are driving the India wax market. Furthermore, the growing demand from emerging economies in Asia Pacific region due to rapid industrialization creates an attractive opportunity for manufacturers operating in this space.
Increasing Demand for Paraffin Wax: Paraffin wax has been used extensively across several industries including candles production, rubber industry and automobile manufacturing owing to its superior properties such as water resistance and flexibility among others. This is expected to drive the Indian wax market over the forecast period. Growing Usage of Waxes by Cosmetics & Personal Care Industry: Cosmetic & personal care sector has become one of the major application areas for waxes due mainly to their excellent lubricating properties coupled with high emulsification capacity which makes them ideal ingredients in facial creams, lipsticks etc., thereby driving its demand from this end use industry over projected timeframe.
Volatility In Price Of Raw Materials : Prices of raw materials used for producing different types of wax can be volatile depending on global economic factors like currency exchange rate variations or supply fluctuations caused by natural disasters etc., making it difficult for producers to price their products profitably leading to reduced profitability margins putting pressure on overall sales revenues limiting its growth potentials.
Technological Advancements In Production Processes : Manufacturers are focusing on adopting new technologies like supercritical fluid extraction processes that allow easy separation of components present in feed stock resulting into improved purity levels yielding higher quality output products enhancing customer satisfaction levels resulting into increased sales volumes . Additionally , producers have also started using process automation technologies that help them improve operational efficiency while reducing labor cost thus improving product competitiveness against rivals.
Some key players operating actively within India?s Wax Market include Honeywell International Inc., Shell Chemicals Ltd., Sinopec Corporation , Crescent Industries Pvt Ltd , Koster Keunen BV , Sasol Ltd .etc .
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Wax Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Wax Market Revenues & Volume, 2020 & 2030F |
3.3 India Wax Market - Industry Life Cycle |
3.4 India Wax Market - Porter's Five Forces |
3.5 India Wax Market Revenues & Volume Share, By Product, 2020 & 2030F |
3.6 India Wax Market Revenues & Volume Share, By Applications, 2020 & 2030F |
4 India Wax Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Wax Market Trends |
6 India Wax Market, By Types |
6.1 India Wax Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 India Wax Market Revenues & Volume, By Product, 2020-2030F |
6.1.3 India Wax Market Revenues & Volume, By Mineral, 2020-2030F |
6.1.4 India Wax Market Revenues & Volume, By Synthetic, 2020-2030F |
6.1.5 India Wax Market Revenues & Volume, By Natural, 2020-2030F |
6.2 India Wax Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 India Wax Market Revenues & Volume, By Candles, 2020-2030F |
6.2.3 India Wax Market Revenues & Volume, By Packaging, 2020-2030F |
6.2.4 India Wax Market Revenues & Volume, By Plastic & Rubber, 2020-2030F |
6.2.5 India Wax Market Revenues & Volume, By Cosmetics & Toiletries, 2020-2030F |
6.2.6 India Wax Market Revenues & Volume, By Fire Logs, 2020-2030F |
6.2.7 India Wax Market Revenues & Volume, By Adhesives, 2020-2030F |
7 India Wax Market Import-Export Trade Statistics |
7.1 India Wax Market Export to Major Countries |
7.2 India Wax Market Imports from Major Countries |
8 India Wax Market Key Performance Indicators |
9 India Wax Market - Opportunity Assessment |
9.1 India Wax Market Opportunity Assessment, By Product, 2020 & 2030F |
9.2 India Wax Market Opportunity Assessment, By Applications, 2020 & 2030F |
10 India Wax Market - Competitive Landscape |
10.1 India Wax Market Revenue Share, By Companies, 2023 |
10.2 India Wax Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |