Global Paraffin Wax Market Expected to Reach $8 Billion by 2020

Oct 8th, 2015

Kristen Wegrzyn

Paraffin wax is used in candles, cosmetics and packaging—and the market for it is growing.

The global paraffin wax market is expected to reach $8.02 billion by the year 2020, according to a report released by Grand View Research, Inc.

The report points to several findings regarding the cosmetics industry that explain the growth of the paraffin wax industry.

Cosmetics are expected to experience a CAGR of 4.2% from now until 2022 due to a growing demand for lipsticks, creams, ointments, and hair and skin products.
The personal care sector in countries including the U.S., France, Brazil, Russia, India, China, Argentina, Indonesia, Thailand and Saudi Arabia is expected to boost paraffin wax demand.
Beauty sales in Saudi Arabia, Iran and United Arab Emirates are growing—paraffin wax demand in the region is estimated to reach more than 375 kilo tons by 2022.

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