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Global Wax Industry 2010 - Brochure


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Global Wax Industry 2010:
Market Analysis and Opportunities
Base Year: 2010

A comprehensive analysis that highlights global supply and demand of waxes
including animal-based, vegetable-based, mineral, and such synthetic waxes as
Fischer-Tropsch (F-T), alpha-olefin (A-O), and polyethylene (PE) waxes. This study
will address "neat" GTL waxes, blended with petroleum waxes to increase global
wax volumes.

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Global Wax Industry 2010 - Brochure

  1. 1. EnergyIn-Depth Report Series Global Wax Industry 2010: Market Analysis and Opportunities 2nd Edition of the Global Series Published December 2010 Base Year: 2010 Regional Coverage A comprehensive analysis that highlights global supply and demand of waxes including animal-based, vegetable-based, mineral, and such synthetic waxes as Asia-Pacific Fischer-Tropsch (F-T), alpha-olefin (A-O), and polyethylene (PE) waxes. This study North America will address "neat" GTL waxes, blended with petroleum waxes to increase global wax volumes. Latin America Eastern Europe The study will be truly global in scope since the wax industry is a global one defined by worldwide end-use markets and supply options. Western Europe Africa and the Middle East  The study will assess global wax supply, demand, market space, pricing developments, inter-material competition, manufacturing economics, trends, and market developments – The study will also focus on the impact of the global recession and what it will mean to the demand for waxes  The study will focus on conventional and synthetic wax providers  Provide wax manufacturing cost models and comparisons based on type of wax  Analyze barriers to entry for neat and co-processed GTL waxes and other synthetic, animal-based, and vegetable-based waxes  Analyze alternate business models which would allow current Group I plants, which are the source of most of wax consumed, to continue operating. Competitive supplier profiles will be provided for 20 entities including major global wax manufacturers and marketers. Report #Y635A | © 2011 Kline & Company, Inc.
  2. 2. Global Wax Industry 2010:Market Analysis and Opportunities Report Scope Global demand for waxes reached an estimated 9,590 million lbs in 2010. Mineral waxes (including petroleum) account for an Figure 1: Estimated Global Demand for Waxes by Type, 2010 estimated 85% of this global demand, with synthetic waxes Mineral wax-a, 85% accounting for 11%, and animal and vegetable waxes, accounting for 4%, as shown in Figure 1. As petroleum waxes account for a significant portion of the wax Synthetic Animal and waxes-b,c, 11% vegetable supply, this studys primary focus will be petroleum wax supply. waxes-d, 4% Total: 9,590 Million lb Although, for many years, petroleum wax was considered a by- a- Petroleum waxes account for 98% of this demand. product of lubricant basestock production, it has come onto its b- GTL waxes account for 48% of this total. c- Synthetic waxes include ethylene telomeres and polyethylene waxes, own over the last decade and is considered by most refiners to in addition to GTL waxes. d- Animal and vegetable waxes typically include beeswax, spermaceti, tallow, be a relatively high-margin product and is often an important candelilla, carnuba, and jojoba waxes. contributor to the overall profitability of the refinery. However, the fate of petroleum wax supplies is largely outside the control of the wax industry. Wax supplies are tied to regional basestock quality requirements and this is independent of wax supply and demand. The two major variables for the future petroleum-derived wax supplies are:  The rate of global basestock quality increases and the resultant shutdown of wax-producing Group I lubricant basestock plants. This is the rate setting decline mechanism for petroleum wax supplies.  Economic expansion in China, which in turn sets the rate of lubricant basestock and wax plant expansions. Chinas Group I lubricant basestock and wax plant expansions will not significantly exceed this regions requirements for lubricant basestock self-sufficiency, since other regions are turning to Group II and Group III. Until now, decline in supplies from North America and Western Europe have been compensated by growth in supplies from China. However, this may not be the case in the future as Chinese lubricant industry starts demanding Group II and III basestocks leading to a flat or declining Group I supply with similar effects on wax supplies. On the demand side of the equation, waxes are used in thousands of applications around the world, with candles being the predominant application on a global basis. As shown in Figure 2, candles are estimated to account for 43% of the waxes consumed. Figure 2: Estimated Global Demand for Waxes by Application, 2010 Candles, 43% Other, 16% Board sizing, 15% Health industries, 3% Rheology/ Packaging, 10% surface applications, 14% Total: 9,590 Million lb Report #Y635A | © 2011 Kline & Company, Inc.
  3. 3. Global Wax Industry 2010:Market Analysis and Opportunities Wax consumption is expected to grow at an average annual growth rate of more than 2% from 2010 to 2020. Clearly, different regions and different product applications will enjoy different growth rates. Ultimately, insufficient supply growth or even a supply decline will constrain demand growth. Hence, several wax alternatives are studied in the report besides petroleum waxes including GTL waxes, animal waxes, mineral (montan) waxes, and vegetable waxes to see if a combination of these could sort the impending under supply problem. Key Benefits Subscription to this report helps you grow your business, improve your market share, and make you more competitive in the market place. Subscription to this report helps understand drivers behind petroleum wax supplies and the opportunities and threats represented by this industry aspect to your business. The big questions tackled in great detail in this study include:  What is the supply of and demand for different types of waxes?  What is the impact of the global recession on the demand for waxes?  Could GTL waxes, among others compete in such high-volume wax markets as candles, packaging, board sizing, and others?  What are the manufacturing costs for each type of wax?  What will be the global market impact and business dynamics of flat or declining supplies of petroleum wax?  What are the business options available to de-oilers, petrolatum upgraders, and specialty wax formulators/blenders who will be affected by the decline in petroleum wax supplies?  What kind of market space and pricing structures will be prevalent?  What might be some of the key barriers to entry?  What might some of the key business opportunities and threats be for industry participants? Global Wax Industry 2010: Market Analysis and Opportunities presents subscribers with Klines objective 20/20 vision and solidly backed answers to these questions about GTL, vegetable and animal waxes, other synthetic waxes, and their impact on the global wax market. Report #Y635A | © 2011 Kline & Company, Inc.
  4. 4. Global Wax Industry 2010:Market Analysis and Opportunities Report Contents 1. INTRODUCTION 6. CURRENT AND FORECAST GLOBAL 11. BARRIERS TO MARKET ENTRY SUPPLY A. Supply reliability 2. EXECUTIVE SUMMARY A. Global overview - historical and B. Quality assurance current C. Long term commitment B. North America D. Price 3. WAX TYPES, PROPERTIES, AND C. Latin America E. Logistics GRADES D. Western Europe F. Environmental and regulatory A. Overview E. Eastern Europe issues B. Wax type by source F. Asia G. Capital intensity C. Wax properties and grades G. Africa and the Middle East H. Product development support D. Mineral wax properties and grades H. Wax supply forecast E. Synthetic wax properties and 12. BUSINESS DYNAMICS AND STRATE- grades 7. CURRENT AND FORECAST GLOBAL GIES F. Vegetable wax properties and DEMAND A. Non-petroleum wax suppliers grades A. Global overview B. Petroleum wax suppliers G. Animal wax properties and grades B. North America C. Wax buyers C. Latin America 4. APPLICATIONS AND MARKET SEGMEN- D. Western Europe 13. WAX MANUFACTURER PROFILES TATION E. Eastern Europe A. Summary and applications by F. Asia source of wax G. Africa and the Middle East B. Candles H. Wax demand forecast C. Board sizing D. Health industries 8. SUPPLY/DEMAND ANALYSIS E. Rheology and surface applications A. Current supply-demand balance F. Other non-packaging applications Table 1 B. Supply-demand balance for 2015 G. Packaging applications List of Suppliers Profiled C. Supply-demand balance for 2020 5. WAX MANUFACTURING PROCESSES  Alborz 9. GLOBAL WAX TRADE ANALYSIS AND ECONOMICS  BASF A. Low and high oil content petroleum  Calumet A. Overview waxes  Clariant B. Manufacturing cost assumption and B. Synthetic waxes  CNPC/SINOPEC basis C. Animal and vegetable waxes  ExxonMobil C. Petroleum wax D. Hydrogenated vegetable wax  H&R Wax Company 10. PRICING ANALYSIS  Iberceras SA E. Fischer-Tropsch wax A. Historical pricing dynamic  IGI F. Polyethylene wax B. Current pricing  Kuwait Petroleum G. Summary C. Price/market relationship  Naftowax D. Pricing by applications  National Oil Company of Iran E. Price outlook  Nippon Seiro  Paramelt BV  PDVSA  Petrobras  Sasol  Shell  Sonneborn  Other suppliers Report #Y635A | © 2011 Kline & Company, Inc.
  5. 5. Global Wax Industry 2010:Market Analysis and Opportunities Methodology Kline is unmatched in our ability to gather hard-to-get market and competitive intelligence with a high degree of confidence. Klines market analysis approach places the principal emphasis on primary research techniques to ensure that the foundation of business intelligence and insight is accurate, current, and reliable. During the course of field research, Klines professional staff of industry experts will conduct in-depth discussions and personal interviews with a wide range of knowledgeable industry participants and opinion leaders, including telephone interviews and personal visits with wax producers, end users, technology and catalyst companies, natural gas producers, government agencies, trade associations, and other industry experts. This approach has proven to be the most effective and reliable approach to obtaining accurate market data, capturing expert insights, and identifying business opportunities. Primary research comprises 85% of the overall research methodology for this report. In addition, this analysis is supplemented by secondary research drawn from the review of suppliers product literature and price lists; a search of recent trade and technical literature; Internet sources; and analysis of statistical data from government, industry, and trade associations and agencies. Kline Credentials Kline is a worldwide consulting and research firm dedicated to Recently published or in-progress research for the Energy p industry includes: providing the kind of insight and knowledge that helps companies find a clear path to success. The firm has served the  The Impact of the Global Recession on BRIC Countries - A management consulting and market research needs of organi- Kline FlashPoint Report  Global Marine Engine Oil Suppliers: Customer Value-Added zations in the chemicals, materials, energy, life sciences, and Analysis consumer products industries for over 50 years.  Competitive Analysis of the Global Lubricant Basestocks Industry  Global Lubricant Additives: Market Analysis and Klines research and consulting services extend across the entire Opportunities energy industry value chain. Our solutions have helped clients  The Outlook for the Global Lubricants Industry: The Impact develop better ways to create and profit from new business of Recession  Nationalized Oil Companies: A Competitive Assessment opportunities, respond to competitive and economic threats,  Opportunities in Lubricants: India Market Analysis improve productivity, achieve sustainable growth, and optimize  Global Synthetic Lubricants: Market Analysis and performance. Kline provides clients with facts, forecasts, and Opportunities  Global Lubricant Basestocks: Three-Year Annual Service recommendations based solidly on the realities of the market.  Global Used Oil: Market Analysis and Opportunities  Lubricant Basestocks in Africa and the Middle East: Market Our market research reports and services are designed to Analysis and Opportunities provide subscribers with a deeper understanding of their  Global Lubricants Market Analysis and Assessment markets, an outlook for their business, and accurate information about their competitors. Our clients tell us they often use Klines market research to validate their own internal analysis, and many clients rely on Kline reports as their most critical source of information. For more information about this study or Klines other services, e-mail us at, visit our website at, or contact us at any of our regional offices listed below. North America Latin America Europe Japan Asia India +1-973-435-6262 +55-11-3079-0792 +32-2-770-4740 +81-3-3242-6277 +86-21-5382-6677 +91-124-4546-100 Report #Y635A | © 2011 Kline & Company, Inc.