Lucintel Forecasts Paraffin Market to Grow a CAGR of 2%-3%

According to the recent study the paraffin market is projected to grow at a CAGR of 2%-3% from 2020 to 2025. Growth in this market is primarily driven by growing demand for are the growing demand from paperboard and packaging industry and rising demand for personal care products.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in paraffin market by application (cosmetics, personal care, paperboard and packaging, fuel, rubber, lubricants, and others), product type (paraffin wax, liquid paraffin, kerosene, and petroleum jelly), and region (North America, Europe, Asia Pacific, and Rest of the World).

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“Paraffin wax market is expected to remain the largest segment during the forecast period.”    

Based on product type, the paraffin wax market is segmented into application and product type. Lucintel forecasts that the paraffin wax is expected to witness the largest segment over the forecast period due to its increasing usage in the packaging industry.  

“Within the paraffin market, the paperboard and packaging segment is expected to remain the largest application.”

Based on application, the paperboard and packaging segment is expected to witness the largest application over the forecast period due to the low levels of automation, which causes many packaging producers to use paraffin wax.

“Asia Pacific will dominate the paraffin market in near future.”

Asia Pacific is expected to be the largest region over the forecast period due to growing population, increasing per capita income, and quality of living.

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Major players of paraffin market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Sasol, Exxon Mobil Corporation, LANXESS, JXTG Nippon Oil and Energy Corporation, and China Petroleum are among the major paraffin providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/paraffin-market.aspx or helpdesk@lucintel.com

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Contact:
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Lucintel
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