Paraffin Wax Demand, Index, Growth. Price Trend and Analysis

Written by Alex  »  Updated on: July 10th, 2024

Paraffin Wax Demand, Index, Growth. Price Trend and Analysis

Paraffin Wax Prices in USA

  • United States: 1375 USD/MT

The Paraffin Wax market in the US fell to 1375 USD/MT in Q4 2023 due to lower demand in the cosmetics and candle-making sectors. The latest report by IMARC Group, titled "Paraffin Wax Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of Paraffin Wax Price Trend. This report delves into the Price of Paraffin Wax globally, presenting a detailed analysis, along with informative Paraffin Wax Price Chart. Through comprehensive Paraffin Wax Price Analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes Paraffin Wax Historical Data to offer context and depth to the current pricing landscape. The report also explores the Paraffin Wax Demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.

Paraffin Wax Prices December 2023:

  • United States: 1375 USD/MT
  • China: 775 USD/MT
  • Europe: 1615 USD/MT

Report Offering:

  • Monthly Updates: Annual Subscription
  • Quarterly Updates: Annual Subscription
  • Biannually Updates: Annual Subscription

The study delves into the factors affecting Paraffin Wax price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

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Paraffin Wax Price Trend- Q4 2023

The paraffin wax market is influenced by seasonal demand fluctuations, festive seasons, and the diverse applications of paraffin wax across various industries. During the first quarter of 2024, significant festivals such as Lunar New Year, Ramadan, and Easter played a crucial role in driving up the demand for paraffin wax, particularly for candle making and cosmetic products. The anticipation and preparation for these festivals typically lead to an increase in production and purchases of paraffin-based products. Additionally, the approaching summer season spurred a rise in demand from the cosmetics and haircare sectors, as these products often contain paraffin wax as a key ingredient. The volatile nature of crude oil prices, which directly impact the production costs of paraffin wax, also contributes to the market dynamics. Furthermore, operational efficiencies in manufacturing facilities tend to slow down during festive periods, adding pressure to supply chains and affecting market prices. These combined factors create a fluctuating market environment where demand spikes during certain periods lead to price increases, while operational slowdowns and raw material costs add to the complexity of the paraffin wax market.

Paraffin Wax Market Analysis

The global paraffin wax market size reached US$ 5.8 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 9.3 Billion, at a projected CAGR of 5.50% during 2023-2032.

North America

In North America, the market initially saw a price decline in early January, attributed to subdued demand following New Year festivities. However, prices began to surge in February and March as preparations for upcoming festivals such as Lunar New Year, Ramadan, and Easter ramped up, boosting demand from the candle making and cosmetics sectors. Additionally, the revival of demand from the cosmetics and haircare segments as the summer season approached contributed to the upward price trend. The festive atmosphere throughout the quarter also led to a slowdown in manufacturing operations, further constraining supply and exerting upward pressure on prices.

Asia Pacific

In the APAC region, paraffin wax prices displayed volatility, with significant fluctuations observed in China and South Korea. The initial month of the quarter saw a price decline due to low demand from the cosmetics and candle making markets. However, as February and March approached, prices surged sharply driven by increased demand in anticipation of the Lunar New Year, Ramadan, and Easter festivities. This period also saw a revival in the cosmetics segment as summer neared. The overall festive atmosphere resulted in a slowdown in manufacturing operations, which strained the supply chain and added pressure on prices, leading to notable price increases by the end of the quarter.


In Europe, the paraffin wax market experienced price volatility with significant fluctuations in Germany and the UK. Prices initially declined in January due to modest demand post-New Year. However, as the quarter progressed, prices surged significantly in February and March due to heightened demand in anticipation of major festivals such as Lunar New Year, Ramadan, and Easter. The cosmetics segment also saw a demand revival as summer approached. Additionally, the festive atmosphere led to a slowdown in manufacturing operations, further constraining supply. The fluctuating crude oil prices, which increased production costs, also played a significant role in driving up paraffin wax prices in Europe during this period.

Key Points Covered in the Paraffin Wax Pricing Report:

The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:

  • Paraffin Wax Prices
  • Paraffin Wax Price Trend
  • Paraffin Wax Demand & Supply
  • Paraffin Wax Market Analysis
  • Demand Supply Analysis by Type
  • Demand Supply Analysis by Application
  • Demand Supply Analysis of Raw Materials
  • Paraffin Wax Price Analysis
  • Paraffin Wax Industry Drivers, Restraints, and Opportunities
  • Paraffin Wax News and Recent developments
  • Global Event Analysis
  • List of Key Players

Regional Price Analysis:

  • Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
  • Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
  • North America: United States and Canada
  • Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
  • Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Browse More Pricing Reports by IMARC Group:

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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

About Us:

IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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