Industrial Wax Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2

The Industrial Wax Market is likely to grow from USD 7.91 billion in 2021 to USD 10.54 billion by 2028, at an impressive CAGR of 4.08% during the forecast period. Industrial wax is an organic substance. It is used to manufacture candles, packaging, coatings & polishing, hot-melt adhesive, tire & rubber, cosmetics & personal care, and food items. Different types of industrial wax are used, such as fossil-based, synthetic-based, and bio-based. Bio-based waxes are environmentally friendly and can be recycled. They do not emit carbon dioxide, so they can be used as fire logs.