India Wax Market Size & Outlook, 2024-2030
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India wax market highlights
- The India wax market generated a revenue of USD 199.6 million in 2023 and is expected to reach USD 286.7 million by 2030.
- The India market is expected to grow at a CAGR of 5.3% from 2024 to 2030.
- In terms of segment, mineral wax was the largest revenue generating product in 2023.
- Synthetic Wax is the most lucrative product segment registering the fastest growth during the forecast period.
Wax market data book summary
| Market revenue in 2023 | USD 199.6 million |
| Market revenue in 2030 | USD 286.7 million |
| Growth rate | 5.3% (CAGR from 2023 to 2030) |
| Largest segment | Mineral wax |
| Fastest growing segment | Synthetic Wax |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Mineral Wax, Synthetic Wax, Natural Wax |
| Key market players worldwide | China Petroleum & Chemical Corp Class H, PetroChina Co Ltd Class H, HF Sinclair Corp, BP PLC, Baker Hughes Co Class A, Exxon Mobil Corp, Sasol Ltd, American International Group Inc, Evonik Industries AG, Basf SE, Dow Inc, Honeywell International Inc, Shell PLC, Mitsui Chemicals Inc |
Other key industry trends
- In terms of revenue, India accounted for 1.9% of the global wax market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China wax market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 286.7 million by 2030.
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Wax Market Scope
Wax Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| HF Sinclair Corp | View profile | 5218 | 2828 North Harwood, Suite 1300, Dallas, TX, United States, 75201 | https://www.hfsinclair.com |
| China Petroleum & Chemical Corp Class H | View profile | 368450 | No. 22 Chaoyangmen North Street, Chaoyang District, Beijing, China, People's Republic of, 100728 | http://www.sinopec.com |
| PetroChina Co Ltd Class H | View profile | 375803 | No. 9 Dongzhimen North Street, Dongcheng District, Beijing, China, People's Republic of, 100007 | http://www.petrochina.com.cn |
| BP PLC | View profile | 87800 | 1 St James's Square, London, United Kingdom, SW1Y 4PD | https://www.bp.com |
| American International Group Inc | View profile | 25200 | 1271 Avenue of the Americas, New York, NY, United States, 10020 | https://www.aig.com |
| Sasol Ltd | View profile | 29073 | 50 Katherine Street, Sasol Place, Sandton, Johannesburg, GT, South Africa, 2196 | https://www.sasol.com |
| Shell PLC | View profile | 100000 | Shell Centre, London, United Kingdom, SE1 7NA | https://www.shell.com |
| Mitsui Chemicals Inc | View profile | 18933 | 1-5-2, Higashi-Shimbashi, Shiodome City Center, Minato-ku, Tokyo, Japan, 105-7122 | http://group.mitsuichemicals.com |
| Exxon Mobil Corp | View profile | 61500 | 22777 Springwoods Village Parkway, Spring, TX, United States, 77389-1425 | https://www.exxonmobil.com |
| Baker Hughes Co Class A | View profile | 58000 | 575 North Dairy Ashford Road, Suite 100, Houston, TX, United States, 77079-1121 | https://www.bakerhughes.com |
| Dow Inc | View profile | 35900 | 2211 H.H. Dow Way, Midland, MI, United States, 48674 | https://www.dow.com |
| Honeywell International Inc | View profile | 95000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | https://www.honeywell.com |
| Evonik Industries AG | View profile | 33409 | Rellinghauser Strasse 1-11, Essen, NW, Germany, 45128 | https://www.evonik.com |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
India wax market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to wax market will help companies and investors design strategic landscapes.
Mineral wax was the largest segment with a revenue share of 66.43% in 2023. Horizon Databook has segmented the India wax market based on mineral wax, synthetic wax, natural wax covering the revenue growth of each sub-segment from 2018 to 2030.
Population expansion, rapid urbanization, rising disposable incomes, and employment in India have played an important role in developing the country’s plastics and rubber manufacturing plants. Moreover, the government of India announced the “Make in India” campaign to attract new investments in the automobile, energy, chemicals, and metals sectors.
This regulatory move is anticipated to spur the plastics and rubber production capacities in various parts of the country to aid in the growth of sectors such as automotive and construction. India is among the fastest-growing economies in Asia Pacific with a significantly low percentage of population having proper access to affordable medical assistance and safe medical practices.
This has resulted in higher government efforts to improvise the public health sector by incorporating more healthcare facilities and introducing efficient medical devices, which, in turn, is projected to increase the demand for wax products in the medical sector.
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Target buyers of India wax market databook
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Our clientele includes a mix of wax market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India wax market , including forecasts for subscribers. This country databook contains high-level insights into India wax market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India wax market size, by product, 2018-2030 (US$M)
India Wax Market Outlook Share, 2023 & 2030 (US$M)
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