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Paraffin Wax Market Analysis
Paraffin wax is derived from coal, petroleum or oil shale and is colorless soft solid. Crude oil undergoes from dewaxing process and paraffin wax is derived from it. Paraffin wax is processed again for the usage of production. It consists of hydrocarbons molecules between twenty to forty carbons atoms. It is soluble in benzene, ethers and other ethers and is insoluble in water. Paraffin wax is used in many applications such as making candles, packaging, board sizing, rubber, hot melts, cosmetics and others. The demand for paraffin wax is increasing as the aromatherapy is increasing.
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Paraffin wax is used in skin care products and plays an important role in beauty sector. This increases the demand for paraffin wax in the market. The awareness about the importance of home ambience is increasing the demand for aromatherapy. This will drive the paraffin wax market. However, paraffin wax emits toxic fumes when burned. It can cause lung cancer or asthma. This can restrain the growth of the paraffin wax market. The increasing and decreasing prices of crude oil and the availability of alternate eco-friendly products will restrain the growth of the paraffin wax market. Paraffin wax provides a good barrier against odor and gas transmission. This will drive the growth of the paraffin wax market.
Paraffin wax plays an important role in beauty sector is used in skin care products. This increases the demand for paraffin wax in the market. The rising awareness regarding the importance of ambience will increase the demand for aromatherapy and will drive the growth of paraffin wax market. However, toxic fumes are emitted by paraffin wax when it is burned. It can cause lung cancer or asthma. This can restrain the growth of paraffin wax market. The fluctuating prices of crude oil and the availability of alternate eco-friendly products can restrain the growth of the market. Paraffin wax provides a good barrier against odor and gas transmission. This will drive the growth of the paraffin wax market.
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Paraffin Wax Market Report Highlights
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Key Market Players | Lukoil, Petroleos de Venezuela SA (PDVSA), BP PLC, Indian Oil Corporation (IOC), Chevron Corporation, ExxonMobil, Saudi Aramco, Shell Oil Company, Total SA, Sinopec |
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