Packaging Wax Companies Strategic Expansion Initiatives, Revenue Diversification, Strategic Joint Ventures, Licensing and Monetization, Peer Comparison Analysis, Leadership and Governance

Date : 27 December 2024

Packaging Wax Manufacturers and Market Growth

The global packaging wax market size to rise from US$ 2.19 billion in 2025 to US$ 2.73 billion by 2030. Asia Pacific dominated the packaging wax market with the largest share in 2023 while North America is anticipated to witness significant growth in the forecast period.

Packaging Wax Market Key Players

Packaging Wax Market Companies

  • China Petrochemical Corporation
  • Braskem
  • Shell
  • SABIC
  • TotalEnergies
  • The International Group, Inc.
  • Evonik Industries AG
  • BASF
  • Dow
  • NIPPON SEIRO CO., LTD
  • Baker Hughes Company
  • Exxon Mobil Corporation
  • Honeywell International Inc.
  • Royal Dutch Shell P.L.C
  • Mitsui Chemicals, Inc.
  • Sasol Limited

Leader Announcements

  • In August 2024, Dirk Uys, Vice President of Sasol Chemicals, talked about the company’s new industrial wax grade, SASOLWAX LC100, with a 35% lower carbon footprint;

“The company's lower carbon product range is allowing consumers to enhance their sustainability performance along with meeting the high industry standards, with a 35% reduction in carbon footprint without compromising on quality.”

Recent Developments

  • In April 2024, Exxon Mobil Corporation, which has been serving wax customers for more than 125 years, introduced its new product called Prowaxx™.
  • In June 2024, Procudan presented its two new products, called the natural cheese wax ProCera® Natural and the other ProCera® variants, at the prestigious International Cheese and Dairy Expo 2024 at Bingley Hall, England.
  • In October 2024, Clariant supports the substitution of montan wax in coating and plastic in favor of rice bran wax, a rice industry byproduct envisioned to reduce carbon footprints by up to 80% and benefit thermoplastic and biopolymer production.