Paraffin wax Prices, markets & analysis
ICIS offers trusted and reliable market intelligence for those buying or selling Paraffin wax or related products in the global Paraffin wax market.
Our reporters across Asia, Europe and the US keep in touch with local markets, bringing you price assessments, in-depth news and analysis which you can rely on to guide you in your commercial decisions.
Our editor gives their expert view
Paraffin wax Overview Transcript
There are many uses for paraffin wax from cosmetics through to packaging. However the production of candles is by far the largest consuming sector for paraffin wax.
Paraffin wax is derived from slack wax, a by-product of Group 1 Base Oil production and is classified according to oil content, melting point and the amount of processing put in. There is little investment in Group 1 Base Oils production because of shifting global demand patterns.
Moreover paraffin wax faces challenges from possible natural alternatives such as soy and palm oil.
The price of paraffin wax can be influenced by upstream factors such as crude oil price fluctuations. In addition, demand for paraffin wax and candles can be influenced by wider economic concerns. These challenges along side the global nature of the business make it a complex market place.
Anyone involved in the paraffin wax business who wants to understand what is happening should read the ICIS report .
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Paraffin wax news and market information products from ICIS
We offer the following regional Paraffin wax analysis and news coverage to keep you informed of factors and developments affecting prices in the Paraffin wax marketplace.
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Paraffin wax: Market overview
Good supply of fully refined paraffin waxes in Europe, of both domestic and international origin, is likely to put downward pressure on prices of lower melting point (MP) product during Q1. A lot of semi-refined paraffin wax enters Europe from Russia and central Asia, and the 2.2% duty on imports into the EU levied from 1 January may support pricing and depress demand.
The US paraffin wax (pwax) market is relatively flat going into 2014, with slight dips in January slackwax spot prices fostered by lower crude oil costs. Spot prices for fully refined waxes of 125-140°F (52-60°C) MP and those of 150°F (65°C) MP were steady early in the first quarter and expected to remain so because of less imported material coming from China.
Asia’s paraffin wax market will remain steady in 2014, as demand is met with adequate supply. China will remain dominant in its supply of paraffin wax throughout Asia. However, cheaper substitutes from synthetic waxes and palm wax available in southeast Asia will continue to challenge the demand for paraffin wax in 2014.
Updated to mid-Jan 2014
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Paraffin Wax Methodology
About Paraffin wax
Paraffin waxes are classified according to oil content, melting point, and the amount of processing put in. At room temperature paraffin wax can be found in a solid state, when it reaches 37°C and above the wax will begin to enter a liquid phase.
At the simplest level, slack wax, a byproduct of base oil refining, is the feedstock from which different grades of more sophisticated waxes are produced. Fully refined waxes are white, odourless and tasteless, and have less than 0.5% oil content.
They are widely used for candle making and in the packaging industry as wax coatings for paper, film and foil substrates including corrugated board, cups and container. Waxes are marketed in either liquid or solid state.
Other common uses are for corrugated boxes, waxed papers, frozen food cartons and wrappers, paper cups, candles, cosmetics, rubber antioxidants, lumber end seal, adhesives, protective coatings, food additives, cheese dipping, crayons, moisture barriers, polishes, modelling clay, plus many others.