Top Companies in Paraffin Wax Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Paraffin Wax Market is projected to reach a value of USD 10.1 Billion by 2030 at a CAGR of 5.1% over the forecast period.
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Vantage Market Research has recently published a new report on "Paraffin Wax Market” Global Industry Assessment & Forecast to identify key trends and challenges. The report offers insights into the competitive landscape, prospects, and key investment considerations for businesses operating in Paraffin Wax market. Some of the key statistics in the report highlight that Global Paraffin Wax Market was valued at USD 7.2 Billion in 2022 and is projected to reach a value of USD 10.1 Billion by 2030 at a CAGR of 5.1% over the forecast period. The global Paraffin Wax market will continue to expand due to increased demand in the cosmetic and rubber industries.
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The Global Paraffin Wax Market is dominated by well- known players like PetroChina Company Limited, China Petrochemical Corporation (Sinopec), Sasol Limited (South Africa), Exxon Mobil Corporation (U.S.), Petróleo Brasileiro SA (Brazil), Repsol S.A (Spain), Holly Frontier Corporation (U.S.), H&R GROUP (Germany), Honeywell International Inc. (U.S.), Ergon Inc. (U.S.).
Let’s Take a Look at the Top Market Players that are Captivating the Paraffin Wax Market
- PetroChina Company Limited
The business operates through a number of divisions, including Marketing, Natural Gas and Pipeline, Refining and Chemicals, Exploration and Production, and Others. The exploration, development, production, and sale of crude oil and natural gas are all activities that fall within the Exploration and Production category. Petrochemical production, sales, and refining of petroleum products are all included in the Refining and Chemicals category. Petroleum products are sold and traded in the marketing section, whereas natural gas and pipelines are used for the transfer, storage, and sale of the gas.
- China Petrochemical Corporation
The corporation is involved in the exploration, production, and marketing of natural gas and petroleum through pipelines. The business also works with geothermal and new energy sources, as well as the installation of petroleum and petrochemical machinery. Other items produced, sold, stored, and transported by the business include petrochemicals, gas-based chemicals, coal chemicals, and other chemicals.
- Sasol Limited (South Africa)
The company's operations are divided into a number of areas, including Mining, Exploration and Production International, Energy, Base Chemicals, Performance Chemicals, and Group Functions. Coal and other minerals are mined as part of the Mining segment, while oil and gas are explored for, developed, and produced as part of the International Exploration and Production division. Gas, electricity, and liquid fuel production and sales are all handled by the energy sector. Commodity chemicals like polymers, solvents, and ammonia are produced and sold by the Basic Chemicals division. The Performance Chemicals business unit manufactures and sells speciality chemicals like surfactants, waxes, and catalysts.
- Exxon Mobil Corporation (U.S.)
The business operates through a number of divisions, including Chemical, Upstream, and Downstream. Exploration, development, production, and marketing of crude oil and natural gas are all part of the upstream sector. Petroleum products are refined, marketed, and transported as part of the downstream segment. Olefins, aromatics, and polyethylene are just a few of the chemical goods that are produced and sold by the Chemical section.
- Petróleo Brasileiro S.A. (Brazil)
The business promotes, distributes, and refines oil products. In addition to running petrochemical facilities and thermal power plants, Petrobras also manages oil tankers, distribution pipelines, marine, river, and lake terminals.
- Repsol SA (Spain)
The business engages in the exploration and production of oil and natural gas. It refines oil, creates and sells petroleum products, liquefied natural gas (LNG), and petrochemicals, as well as provides and trades crude oil and its byproducts. As a byproduct of its refining processes, the company also creates Paraffin Wax, which it sells to clients in a variety of sectors, including candles, packaging, cosmetics, and pharmaceuticals. Repsol Paraffins and CERAFIN are only a couple of the brand names used to market Repsol's Paraffin Wax.
- Holly Frontier Corporation (U.S)
HollyFrontier Company transports, stores, and markets petroleum products. Light products like jet fuel, diesel and petrol are produced at the company's refineries and sold throughout Montana, northern Mexico and the southwest United States. Paraffin Wax, utilised in a variety of sectors including coatings, packaging, and candles, is also produced by HollyFrontier. To satisfy the unique requirements of various applications, the company provides a variety of Paraffin Wax grades, including fully-refined, semi-refined, and slack wax.
- H&R GROUP (Germany)
The business manufactures and sells Paraffin Wax in a variety of grades, including fully-refined, semi-refined, and slack wax. Candles, packaging, and coatings are just a few of the uses for the items. The company's goods are renowned for their high standards of quality and consistency, and H&R Group provides tailored solutions to satisfy the various needs of its clients. Other petroleum-based products, such as base oils, waxes, and specialty items, are produced and marketed by H&R Group in addition to Paraffin Wax.
- Honeywell International Inc.
The business develops and produces technology to address problems in a number of industries, including energy, security, safety, productivity, and global urbanisation. Specialty chemicals, process technologies, electronic and sophisticated materials, productivity, sensing, safety, and security technologies, as well as spare parts, management and technical services, repair, overhaul, and maintenance services are all provided by Honeywell. Also, the business manufactures and sells a variety of goods, such as Paraffin Wax. Candles, packaging, and coatings are a few of the businesses that employ Honeywell's Paraffin Wax.
- Ergon Inc. (U.S)
The business is an integrated energy provider that processes crude oil and sells speciality naphthenic and paraffinic oils. The business manufactures and distributes specialised asphalt products as well as equipment and supplies for road maintenance. Additionally, it engages in the selling of propane, the transportation and terminaling of raw materials and refined goods, the exploration of oil and gas, and the development of real estate. Base oils, process oils, insulating oils, and ink oils are some of Ergon's most popular items.
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