Malaysia Wax Market, By Type (Petroleum & Mineral Wax, Synthetic Wax, Natural Wax), By End User Industry (Candles, Packaging, Adhesives, Plastics & Rubber, Cosmetics, Paints & Coatings, Others), By Region, Competition, Forecast & Opportunities 2018-2028F
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMalaysia Wax Market, By Type (Petroleum & Mineral Wax, Synthetic Wax, Natural Wax), By End User Industry (Candles, Packaging, Adhesives, Plastics & Rubber, Cosmetics, Paints & Coatings, Others), By Region, Competition, Forecast & Opportunities 2018-2028F
Malaysia Wax Market is anticipated to grow significantly rate in the projected period of 2028, driven by the increasing demand from cosmetic industry. In 2021, the cosmetic & personal care segment generated the highest revenue around USD 1.19 billion in Malaysia.
Malaysia Wax market is expected to expand during the projected period due to increasing demand from cosmetic industry since wax stabilizes skincare and cosmetics with emollient and protecting properties, while increasing their viscosity and consistency in addition to being used to thicken formulations. Wax is used as emulsifiers or ingredients for preparation of solubilizing agents, cleaners, conditioners, and other cosmetic applications. Wax is not only used as a lubricant to reduce friction in production but is also often used to coat food products such as cheese, vegetables, and fruits, directly. Moreover, properties that include anti-scratch, slip resistance, and waterproofing are used in the paint & coatings industry for automobiles, infrastructure, etc., further increasing the demand for wax, resulting in propelling the growth of Malaysia Wax market in the projected period.
Malaysia Wax Market is a dynamic and competitive sector that offers opportunities for growth and innovation. The market players are focusing on expanding their product portfolio, enhancing their quality standards, improving their distribution network, and increasing their market share.
For instance, H&R Wax Malaysia Batu caves business includes wax emulsions, special waxes and general waxes for candle, packaging, and food application.
Along with this, merger, and acquisition activity in the Wax market enhances companies' presence in the region as these acquisitions help companies to better serve their customers and meet the growing demand for Wax in Malaysia in the forecasted period.
Rising Demand from Paint & Coatings Industry
Rising infrastructure development, increasing construction activities, and a growing focus on aesthetics and protection, the demand of advance paint & coatings increases. Wax acts as a crucial ingredient, offering a range of benefits that contribute to the quality, performance, and durability of paint and coatings. Wax is used as a matting agent which helps to achieve various levels of surface gloss, ranging from high gloss to matte. On the other hand, wax also works as anti-blocking additives, that prevent painted surfaces from sticking together when in contact, ensuring easy handling, transport, and storage of painted articles. Waxes are used as surface protection additives, forming a durable barrier that shields painted surfaces from damage, fading, and corrosion. In addition to this, wax play a vital role in controlling the texture and flow characteristics of paints and coatings by improving leveling, reduce sagging and dripping, and enhance the overall application properties of coatings which ensuring smooth and even application of paints on various surfaces. Furthermore, wax is also used as an effective anti-foaming agent in the paint and coatings industry that prevents the formation of foam during paint manufacturing processes and application, ensuring consistent product quality and ease of application. Additionally, wax helps in the release of entrapped air from coatings, reducing the risk of defects such as pinholes and bubbles.
For instance, Clariant offers a series of high-performance wax additives namely Ceridust, Licocare, Licocene and Licowax which are used for surface coatings and protective coatings.
Moreover, wax helps to enhance and protect a wide range of architectural coatings, from interior wall paints and wood finishes to solutions for exteriors surface. Wax improves the look and feel of coated surfaces by boosting features like color strength, matt appearance and soft and silky touch, water resistance and slip performance, dominating its use in ships and freighters. It can be used to boost the performance of water- and solvent-based paints and enhance the quality of UV and powder coatings in a large variety of applications.
Therefore, increasing utilization of wax in the paint & coating industry propels the demand of the Malaysia wax market in the upcoming years.
Growing Demand from Cosmetic Industry
Waxes are widely utilized in the cosmetics sector to enhance product texture and stability. They contribute in the creamy, smooth, and luxurious feel of various products, including lipsticks, creams, balms, and lotions. Wax provides structure and stability, preventing products from melting, crumbling, or becoming too soft. Wax plays a crucial role in cosmetics as binding agents and emulsifiers, that help ingredients to adhere together, ensuring product integrity and preventing separation or phase separation. In formulations such as lip balms, mascaras, and solid perfumes, waxes help maintain the desired shape and structure. Additionally, wax helps in the emulsification of oil and water-based ingredients, allowing the creation of stable and visually appealing emulsions in products like creams and lotions. In cosmetic formulations such as lip balms, moisturizers, and body butters, wax creates a barrier that locks in moisture, keeping the skin hydrated and supple.
For instance, ExxonMobil launched the Parvan series of fully refined paraffin waxes with mid- and high- range melting points used as cosmetic formulations.
Additionally, wax contributes to the long-lasting and durable properties of cosmetics. In products like lipsticks, eyeliners, and eyebrow pencils, waxes aid in the formation of a film on the skin, ensuring extended wear and reducing smudging or fading. The moisture resistant property of wax encourages cosmetic manufacturers to use this in personal care products. Thus, it is used in cosmetics and beauty products as a viscosity agent, binder, and emollient, which are expected to boost demand for wax in this industry.
Moreover, wax is widely used in plastics manufacturing, owing to its anti-sticking properties. Additionally, they also provide more lubrication by modifying viscosity or melting point and improve the dispersion of fillers during plastics manufacturing. They improve plastic's resistance to heat and increase thermal stability.
For instance, Honeywell offers Rheolub RL-165 high performance paraffin wax which is used for manufacturing PVC pipe.
Thus, increasing demand of wax from cosmetic sector dominates the growth of the Malaysia wax market in the forecast period.
Increasing Demand from Packaging Industry
The primary objective of the packaging industry is to safeguard products during transportation and storage. Wax coatings provide an effective barrier against moisture, dust, and other external factors, that can compromise the integrity of packaged goods for various industries like electronics, pharmaceuticals, and food processing. Wax-coated paper and board are commonly used for packaging products like fruits, vegetables, and confectionery, as they provide an additional layer of protection against moisture, preserving product freshness and extending shelf life. In addition, wax coatings are accepted in various printing techniques, including offset, flexography, and gravure, facilitating the creation of visually appealing packaging that enhances brand visibility, logos, and promotional messages.
Additionally, colorful candles as well as aromatic candles are gaining popularity, for household and commercial use such as for home decor, ambiance of house, and restaurants. Additionally, use of candles in spas and massage parlors, induced with essential oils, to create ambiance and offer better customer experience in terms of relaxation using essential oils.
For instance, H&R Group developed a standard range of waxes namely Tudamelt used for multiple applications including packaging, candle, tire & rubber, etc.
Thus, all such factors are expected to drive the demand for wax in the projected years.
Recent Development
- In 2022, BASF launches Euperlan NL Pearl, the first COSMOS compliant, wax-based pearlizer made for rinse-off applications.
- In 2018, H&R GmbH & Co KGaA, a refiner and marketer of specialty plasticisers, extender oils, softeners and waxes invested USD 43.80 million in a specialty manufacturing plant in Lumut, Perak, Malaysia.
Market Segmentation
Malaysia Wax Market
Company Profiles
BASF (Malaysia) Sdn. Bhd., Clariant (Malaysia) Sdn Bhd, Britz Networks Sdn. Bhd., Honeywell International Sdn. Bhd., Dow Chemical Pacific Ltd, Evonik Malaysia Sdn Bhd, ExxonMobil Exploration and Production Malaysia Inc, Fuchs Petrolube (Malaysia) Sdn. Bhd., H & R Malaysia Sdn. Bhd., Excelube Marketing Sdn Bhd are some of the key players in Malaysia Wax Market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, Company shares, competitive landscape, growth factors, and trends |
| Segments covered | Type End User Industry |
| Region scope | East Malaysia, West Malaysia |
| Key companies profiled | BASF (Malaysia) Sdn. Bhd., Clariant (Malaysia) Sdn Bhd, Britz Networks Sdn. Bhd., Honeywell International Sdn. Bhd., Dow Chemical Pacific Ltd, Evonik Malaysia Sdn Bhd, ExxonMobil Exploration and Production Malaysia Inc, Fuchs Petrolube (Malaysia) Sdn. Bhd., H & R Malaysia Sdn. Bhd., Excelube Marketing Sdn Bhd |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy