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市场调查报告书
商品编码
1661639
印度的石蜡市场评估,各类型,各流通管道,不同形态,各用途,各地区,机会,预测,2018~2032年India Paraffin Wax Market Assessment, By Type, By Distribution Channel, By Form, By Application, By Region, Opportunities, and Forecast, FY2018-FY2032F |
2024 年印度石蜡市场规模价值 7.4185 亿美元,预计到 2032 年将达到 13.529 亿美元。由于工业涂料、热熔胶、塑胶和橡胶加工助剂、身体护理产品、金属铸造、药品和电气绝缘领域的使用量不断增加,在 2025-2032 年的预测期内,市场将以 7.80% 的复合年增长率增长。
此外,人们越来越关注家庭环境,这增加了对芳香疗法的需求,进一步加速了市场的成长。城市化、购买力的增强以及消费者生活方式的改变正在极大地推动印度石蜡市场的发展。 2022 年 12 月,印度艺术家兼演员 Dolly Singh 与印度奢华香氛蜡烛製造商 Rad Living 合作推出了由石蜡製成的标誌性系列香氛蜡烛。
上述公司不根据其市场占有率保留订单,并且可能会在工作过程中发生变化。
The India Paraffin Wax Market size was valued at USD 741.85 million in FY2024 and is estimated to reach USD 1352.90 million by FY2032. The market is growing at a CAGR of 7.80% for the forecast period between FY 2025 and FY 2032, owing to increasing usage in the manufacturing of industrial coatings, hot melt adhesives, plastic & rubber processing aids, body care products, metal casting, medicines, and electrical insulations.
Additionally, the demand for aromatherapy is rising as people have become more conscious about the home environment which further fuelled the market growth. Urbanization, increase in purchasing power and change in the lifestyles of consumers have driven the India paraffin wax market significantly. In December 2022, Dolly Singh, an Indian artist and actress launched her signature range of scented candles made from Paraffin Wax with Rad Living, an India based premium scented candles manufacturer.
Candles Have Significantly Contributed to the Market Growth
Over the forecasted period, the demand for paraffin wax is anticipated to be stimulated by the increasing demand and supply of candles, especially aroma candles. Aromatherapy is being used more often in spas, hotels, and other commercial locations in India. In candle making industry, semi-refined paraffin wax is typically used as a raw material in domestic companies, whereas fully refined paraffin wax is typically exported from the country to the foreign markets.
The oil content level is the main difference between fully-refined paraffin wax and semi-refined paraffin wax. Fully refined paraffin wax has an oil content of less than 0.8%, while semi-refined paraffin wax has an oil content of less than 1.8%. Additionally, a variety of scented candles are readily available, along with an increase in purchasing power of the Indian consumers, thereby leading to the growth of India paraffin wax market.
Wax Coating in Food Preservation Accelerating the Market Growth
One of the key trends contributing to the growth of the paraffin wax market in India is its application in food preservation, specifically in the coating of fruits and vegetables. Wax coating helps to extend the shelf life of produce by creating a protective barrier that reduces moisture loss and prevents spoilage. This method is becoming increasingly popular among farmers and food processors, who are looking for effective ways to preserve the freshness of their products in the long term. Paraffin wax coatings also serve as a natural preservative, minimizing the need for chemical preservatives that can alter the taste or quality of food.
For instance, in April 2024, researchers in India introduced a new technique of applying wax coating to tapioca to enhance its shelf life. This innovation has gained attention in the agricultural sector for its potential to reduce food waste, a persistent issue in India's food supply chain. By preserving the freshness of tapioca for longer durations, the wax coating could benefit farmers and consumers alike by ensuring that the crop stays edible during transit and storage. The solution is eco-friendly and aligns with India's push towards sustainable agricultural practices
Cosmetics and Therapeutic Advantages Propels the Market Growth
Paraffin wax is frequently used on hands and feet for the cosmetic purposes. The wax is a natural emollient that aids in suppleness and provides softness to the skin. A paraffin treatment developed on the skin is a kind of barrier that aids in retaining the oils which the body naturally produces. According to a study by the Arthritis Health Professions Association, people who dipped their hands in paraffin wax felt immediate pain relief after the procedure. Apart from treating sprains, it can be used to help reduce inflammation and muscular spasms. The various advantages of the paraffin wax, thereby helps in the market growth.
Impact of COVID-19
The COVID-19 pandemic had a significant impact on the India paraffin wax market. The demand and supply of products such as candles, cosmetics, and adhesives declined due to travel restrictions which led to change in lifestyles. The implementation of the lockdown resulted in the closure of several companies, including those with the largest demand for the paraffin wax, such as the cosmetic and fragrance industries. With the lifting of the lockdown, the India paraffin wax market showed a pattern of regrowth. With the removal of restrictions on mobility and mass events, the demand for candles and cosmetics had increased subsequently.
Impact of Russia-Ukraine War on India Paraffin Wax Market
Rising crude oil prices amid the Russia-Ukraine conflict had caused a rise in the paraffin wax prices. High freight costs continue to negatively affect the India market for paraffin wax, as well as the global market. The war tensions between Ukraine and Russia have worsened the trade activities from China, especially to United States and India
Key Players Landscape and Outlook
Several companies are expanding their capacity to cater to the market better and increase their market share in the country. Indian Paraffin Wax is cheap and provided same level of amalgamation as the ones manufactured in China or developed countries. In March 2023, Payal Group, an India based plasticizer manufacturer expanded their chlorinated paraffin wax capacity to 35 kilo tons at Dahej facility in Gujarat, India. Post the expansion, Payal Group's total capacity reached 70 kilo tons.
Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work