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Global Opportunities and Threats in the Wax Business, 2006-2020 Fact Sheet
www.KlineGroup.com
� 2007 Kline & Company Inc.
Global Opportunities and Threats
in the Wax Business, 2006-2020
The Market
At the beginning of the 21st century, the wax industry is again
in the midst of change. Synthetic waxes entered the market
over the last 25 years and are growing at a rapid pace.
Petroleum waxes are in slow decline, and new technology is
providing hard vegetable waxes via catalytic hydrogenation of
refined vegetable oils.
0
10
20
30
40
50
60
70
80
90
100
1860
1880
1900
1920
1940
1960
1980
2000
2020
Petroleum
H2 vegetable
Synthetics
Vegetable stearins
Animal
Historical Perspective of the Wax Business
Suppliers
Global wax supply in 2006 is estimated at 9.9 billion lb and
consists of mineral, synthetic, vegetable, and animal waxes.
Crude-derived waxes represent 87% of global supply, having
dropped below 90% for the first time in decades. Synthetic
waxes have almost reached 10% of supply because of higher
wax prices and eroding petroleum wax supplies.
Estimated Global Wax Supply by Region, 2006
Asia, 42%
North
America, 25%
Western
Europe, 13%
Africa/
Middle East, 9%
Latin
America, 7%
Eastern
Europe, 4%
Total: 9.9 Billion lb
Market Entry
New types of wax will create logistics issues, requiring
additional wax segregations for many customers. Historical
barriers to entry into the wax market, such as environmental,
regulatory issues, and capital requirements, are less relevant
than in the past.
Low
barrier
High
barrier
Capital
Logistics
Quality
assurance
Quality
assurance
Long-term
commit-
ment
Environ-
mental/
regulatory
Supply
reliability
Supply
reliability
Current Wax Barriers to Market Entry
Future Outlook
To keep the global wax industry moving forward, wax buyers
and sellers need to prepare for the continued, gradual shift
away from global petroleum waxes and incorporate more
hydrogenated vegetable, natural vegetable, and synthetic
waxes into the overall wax supply. Central to the industry,
petroleum waxes will still comprise about three-fourths of
global supply. The remaining supplies will be represented by
Fischer-Tropsch, polyethylene and alpha-olefin waxes,
hydrogenated vegetable waxes, natural vegetable waxes, and
animal and montan waxes.
Petroleum, 77%
F-T, 7%
PE, 6%
H2 vegetable, 6%
Natural vegetable, 3%
Animal/montan, 1%
Total: 11.5 Billion lb
Forecast Segmentation
of the Global Waxes Market, 2020