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Wax Market Size
- Report ID: GMI2407
- Published Date: Feb 2018
- Report Format: PDF
Wax Market Size
Global Wax Market size was greater than USD 8.06 billion in 2016 and is likely to witness 3.0% CAGR during the forecast timespan.
Rapidly growing cosmetics industry across the globe will drive the wax market growth over the forecast period. The product is widely used as base materials in various cosmetic formulations; hence, it is an important constituent of cosmetics. It provides a medium for delivery of active ingredients with consistent regulating function. It also possesses skin-care properties. Growing cosmetics industry owing to the increasing awareness regarding various product benefits coupled with rising trend of online shopping will fuel the product demand in coming years. Increasing awareness regarding physical appearance coupled with rapid urbanization in Asia Pacific and Middle East & Africa expected to accelerate the cosmetics market growth over the forecast timespan. The product demand for cosmetics is projected to grow with a CAGR of about 3% and will generate the revenue over USD 1 billion by 2024. This healthy growth in the cosmetics industry is expected to boost the product demand during the forecast time period.
| Report Attribute | Details |
|---|---|
| Base Year: | 2016 |
| Wax Market Size in 2016: | 8.06 Billion (USD) |
| Forecast Period: | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR: | 3% |
| 2024 Value Projection: | 10 Billion (USD) |
| Historical Data for: | 2013 to 2016 |
| No. of Pages: | 327 |
| Tables, Charts & Figures: | 739 |
| Segments covered: | Product, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Adhesive was the one of the fastest growing application segments in wax market in 2016 and forecast to grow with a healthy CAGR coming years. Rapidly growing construction industry in Asia Pacific and Middle East shall drive the adhesive demand during the forecast timespan. Growing investments in infrastructure development by the countries such as China and India are likely to propel the product demand in adhesive segment in the foreseeable future. For instance, China is investing heavily in the infrastructure in Asia and Europe by its Belt and Road initiative, through Belt and Road initiative China is expected to invest over USD 1 trillion in infrastructural development Asia and Europe to increase connectivity. This gigantic infrastructure investment shall boost the adhesive market growth in coming years.
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Wax Market Scope
