The global Industrial wax market size is projected to reach USD 9.1 billion by 2026 at a CAGR of 4.2% from USD 7.5 billion in 2021 during the forecast period 2021-2028.
Bio-based wax demand is growing in packaging, cosmetic, food, various applications, due to environmental policies in developed regions like North America and Europe. Growing population and high gross domestic product growth rates in countries like India, China, and different Asian countries boost the Industrial wax market.
Growing demand for the cosmetics & personal care products, and increased adoption of waxes in the tire & rubber market are some of the factors that have supported long-term expansion for Industrial wax Market.