Paraffin Wax Price Chart, Historical and Forecast Analysis | Procurement Resource

In Asia, the paraffin wax market faced fluctuations driven by volatile crude oil prices and decreased consumer demand amid economic uncertainties in China. The initial months were affected by low production rates post the lunar new year and COVID-related restrictions. Although there was a temporary price surge in Q2 due to higher crude oil costs and a resurgence in the cosmetic industry, inflation, reduced consumer spending, and subdued demand caused a reversal in the trend.

Meanwhile, in Europe, paraffin wax prices experienced a decline throughout Q1 and Q2 due to decreased demand, disruptions in the supply chain triggered by labor strikes, and economic indicators signaling a potential recession. In North America, the prices of paraffin wax also decreased due to weak industry demand, increased imports from Asia, and uncertainty in crude oil prices.

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Paraffin wax exhibits notable properties, such as being a colorless or white solid at room temperature that easily melts at low heat. It boasts a high crystalline structure, making it ideal for use in candles and as a solidifier in various products. Paraffin wax is an excellent insulator, with minimal reactivity and chemical inertness. Its malleability, low thermal conductivity, and moisture resistance contribute to applications in packaging, cosmetics, rubber, and coatings. However, concerns regarding its biodegradability and sustainability have prompted exploration of alternative materials in certain applications.

Key Details About the Paraffin Wax Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Paraffin Wax in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.

The Paraffin Wax Price trends, including India Paraffin Wax price, USA Paraffin Wax price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting the Paraffin Wax Price Trend:

Paraffin wax boasts a multitude of industrial uses thanks to its adaptable nature. Within the candle-making realm, it reigns as a top-choice material for its affordability, ease of shaping, and ability to burn cleanly. In packaging, paraffin wax shields fruits, cheeses, and sweets, prolonging their shelf life and elevating their appearance. Its role extends to cosmetics and spa therapies, delivering skin-softening and moisturizing advantages. Pharmaceutical applications involve using it to coat pills, easing consumption. In rubber production, paraffin wax enhances processing and the quality of the final output. Its resistance to water makes it an ideal candidate for paper coatings, while its insulating properties serve diverse sectors in electrical applications.

Key Players:

  • China Petrochemical Corporation
  • Sasol Limited
  • Petro Bras
  • Nippon Seiro Co Ltd
  • Repsol
  • Honeywell International Inc
  • Ergon Inc

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