Paraffin Wax Prices, News, Market Analysis | ChemAnalyst

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Paraffin Wax Prices Overview
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Quarterly Update on Global Paraffin Wax
Market   For the Quarter Ending March
2021 Asia In line with the rise in demand from
downstream industries, Asian paraffin wax market
witnessed a fair recovery during Q1 2021. This
demand for Paraffin wax remained stable till
January, which later during February and March
observed a further pickup due to significant
recovery in service sector. This improved demand
mainly came from cosmetics, packaging and candles
making segments which enhanced the market
sentiments and hence supported the prices of
Paraffin wax in Asian market. Get more info
https//www.chemanalyst.com/Pricing-data/paraffin-
wax-1205
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Paraffin Wax Prices Overview
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Accordingly, CFR India prices for Paraffin wax
rose from USD 1046 per MT (January 2021) to USD
1095 per MT (March 2021). Meanwhile, Indian Oil
Corporation announced to expand its Chennai
refinery in collaboration with Chennai petroleum
corporation ltd, which will cost around USD
4298.2 Million. North America   North America
region faced challenges to satisfy the demand for
Paraffine wax during Q1 2021, although the demand
remained below the expectations. The reason
behind this fall was disrupted plant activities,
due to winter storm in gulf during Q1 2021 and
multiple plant shutdowns due to the spate of
hurricanes in Q4 2020. Owing to the limited
manufacturing activities, feedstock base oil
prices skyrocketed during January and February,
although improvement in manufacturing activities
during March stopped this price acceleration
across the region.   Europe   After months of
stagnancy and depressed market, European paraffin
wax witnessed a fair flight during Q1 2021.
Construction and paper manufacturing sector
improved by 4-5 compared to Q4 2020.
Furthermore, with vaccination drives running in
several European countries like UK and France,
manufacturers remained optimistic regarding the
demand for paraffin wax from downstream sectors
in the near term. Meanwhile, during March end,
Total dropped the plan to resume its France base
oil production plant, due to low demand for
feedstock Base Oil. For the Quarter Ending
December 2020   Asia   Festive season in Asia
during final quarter of 2020, raised the demand
of Paraffin wax from different sectors.
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Paraffin Wax Prices Overview
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Fairly improved demand of Paraffin wax from
industries like cosmetics, packaging and candles
enhanced the market sentiments and supported its
prices. In India, CRF price of Paraffin wax were
said to improve from USD 964.16/tonne in October
to USD 997.27/tonne in December. Similarly, other
Asian countries like China and Korea reported
resilient demand for Paraffin wax post COVID-19
recovery. Improved crude oil values also
supported the prices of Paraffin wax during Q4
2020 in the Asia pacific region. North
America   Amid fair recovery in industrial
activities and businesses across the region, the
demand of Paraffin wax from the packaging and
cosmetic sector was moderately improved during Q4
2020. Although multiple refineries were kept on
low capacities and many of them remained
completely non operative, demand-supply situation
seemed somewhat balanced during the quarter. In
addition, Royal Dutch shell was heard closing its
Louisiana refining facility due to malfunction,
which is one of the largest facilities in USA.
This shut down may have a significant impact on
Paraffin wax supply across the region.   Europe  
The European Paraffin wax market remained low on
sales and experienced stable growth from the
construction and paper manufacturing sector.
Although the demand for Paraffin wax improved
from cosmetic industries compared to prior
quarter. Meanwhile, the COVID-19 restrictions
affected the activities of multiple refining
units and that reduced the overall availability
of Paraffin wax which has already been dealing
with slackening demand. On other hand, some
countries like UK announced complete lockdown and
implemented COVID-19 restrictions that induced
the downward trend in demand fundamentals.
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Paraffin Wax Prices Overview
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How we can help ChemAnalyst addresses the key
problematic areas and risks associated with
chemical and petrochemical business globally and
enables the decision-maker to make smart choices.
It identifies and analyses factors such as
geopolitical risks, environmental risks, raw
material availability, supply chain
functionality, disruption in technology and so
on. It targets market volatility and ensures
clients navigate through challenges and pitfalls
in an efficient and agile manner. Timeliness and
accuracy of data has been the core competency of
ChemAnalyst, benefitting domestic as well as
global industry in tuning in to the real-time
data points to execute multi-billion-dollar
projects globally. Methodology ChemAnalyst
gathers information through primary research
surveys conducted with various Paraffin wax
manufacturers, spread across the domestic and
international market, suppliers and
dealers/distributors to gain insights
into value-chains and demand-supply scenario to
assess the market situation. Thorough study of
companys annual reports and secondary sources
such as exhaustive search on credible paid
databases, including our internal database is
done to verify the information. All the collected
information is analyzed, evaluated and presented
in chronological order to depict a meaningful and
clear picture of the concerned market.   Our
dedicated team of industry experts
comprehensively monitors and analyzes various
aspects of the Global Paraffin wax market. The
team analyzes various industrial segments,
strategic viewpoints and provides an analysis of
the industrys performance in the long run. This
would enable our clients in efficiently plan
their future investments, mitigate risk,
understand the cost dynamics and strike out a
balance amidst market volatility.   Critical
examination of the impact of COVID-19 pandemic on
the global supply chains and shift in demand
patterns with change in buying behavior of
consumers across the globe.
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Paraffin Wax Prices Overview
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• Several ongoing development projects across
  industries are tracked, followed by the details
  of major projects in the development stage, which
  can positively or negatively influence Global
  Paraffin wax market.
•  
• Pricing is captured through exhaustive primary
  interviews with domestic and international
  manufacturers, traders and importers and
  customers on weekly, monthly and yearly basis.
•  
• Finally, region-specific markets for Paraffin wax
  are analyzed and region-wise demand pattern is
  tracked.
• About
• Paraffin wax is soft colourless solid mixture of
  hydrocarbon, which is obtained from petroleum or
  coal. This hydrocarbon mixture usually contains
  large compounds between C20 to C40 chains and
  remains solid at room temperature. Despite of its
  solid nature, it has a low melting point of
  around 36C and boiling point of around 370C.
  Paraffin wax is produced by feedstock slack wax,
  which is produced during refining process of
  lubricating oil. Slack wax is a mixture of oil
  and wax and during initial step, oil and wax are
  separated which is called de-oiling. After a
  successful first step, the product is further
  treated for its odour and colour. Paraffin wax
  has wide range of applications, in industries
  Paraffin wax is further treated to change its
  crystalline structure, viscosity and other
  functional properties. Other applications of
  Paraffin wax include making candles, wax carving
  for moulding, anticaking agent in fertilisers,
  making crayons, coating on paper, food additives
  etc.