The United States wax market value reached around USD 2.82 Billion in 2024, driven by the increasing demand for wax in various applications, such as cosmetics, personal care, and packaging. The cosmetics industry is witnessing a shift towards products that incorporate waxes for their emollient properties, with companies like Colgate-Palmolive and Johnson & Johnson continuously developing new formulations that use wax. As a result, the industry is expected to grow at a CAGR of 2.70% during the forecast period of 2025-2034 to attain a value of USD 3.68 Billion by 2034. The growing trend of home decor products, including scented candles, also contributes to market growth.
Base Year
Historical Year
Forecast Year
| United States Wax Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 2.75 |
| Market Size 2032 | USD Billion | 3.50 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 2.7% |
| CAGR 2024-2032 - Market by Region | Far West | 3.3% |
| CAGR 2024-2032 - Market by Region | New England | 2.6% |
| CAGR 2024-2032 - Market by Type | Natural | 3.0% |
| CAGR 2024-2032 - Market by Application | Candles | 3.2% |
| 2023 Market Share by Region | Great Lakes | 13.7% |
Wax refers to an organic, lipophilic compound that turns solid at room temperature and liquid when subjected to heat. The compound is effective in mould release, polishing, dispersion, and water repulsion, among others. It finds usage in both industrial and daily use products. The expansion of the healthcare and pharmaceutical sectors is aiding the growth of the United States wax market. Pharmaceutical waxes, such as microcrystalline and paraffin wax, are used in the creation of various lotions, creams, and ointments. For instance, Carnauba wax is often used in tablet coatings to aid in delayed-release mechanisms, improving patient compliance.
Additionally, the automotive sector has shown strong demand for waxes, particularly in vehicle maintenance. United States wax market analysis show that the U.S. has seen a significant increase in vehicle ownership, with approximately 290 million registered vehicles in 2023. This growth has driven consumer interest in products that prolong the lifespan of their cars. The application of car wax on vehicles creates a hydrophobic effect that not only protects the paint from corrosion and environmental damage but also gives the vehicle a glossy finish. Moreover, the demand for car wax is growing due to rising consumer awareness of vehicle care and an increasing focus on preventive maintenance.
Value in USD Billion
2025-2034
United States Wax Market Outlook
*this image is indicative*
The market is experiencing notable growth, driven by various factors. According to government data, the demand for bio-based waxes is rising. For instance, the U.S. Department of Agriculture has highlighted the importance of bio-based products in reducing reliance on petroleum-based materials. Due to this, there is increasing scrutiny on petroleum-derived waxes due to their environmental impact, prompting industries to explore alternatives like soy and beeswax. The Environmental Protection Agency (EPA) has been instrumental in promoting the use of renewable resources in manufacturing processes.
Moreover, the wax market in United States is growing due to wide use of wax in cosmetics, food packaging, and textiles sectors. The U.S. Census Bureau recently reported a significant uptick in manufacturing activities related to personal care products, which often use wax as a key ingredient. The growth of the candle-making industry, fueled by consumer interest in artisanal and eco-friendly products, is also contributing to market expansion.
Growing applications of different waxes across sectors, shift towards eco-friendly and sustainable waxes, and surge in adoption of food-grade wax are the key trends propelling the market growth.
The USA automotive industry is seeing a surge in the use of waxes due to growing consumer interest in vehicle maintenance. Car wax helps protect vehicle paint, provide a hydrophobic effect, and enhance the appearance of cars. In response to the growing demand, companies like Turtle Wax and Meguiar’s are expanding their range of high-performance waxes, leading to innovations such as ceramic wax for longer-lasting protection.
The pharmaceutical and personal care industries are major drivers of the wax market share in United States. Pharmaceutical waxes, such as microcrystalline wax and carnauba wax, are crucial in drug formulations, particularly in controlled-release medications and coatings for pills. In the personal care sector, bee and oil-based waxes are widely used in products like lip balms, lotions, and hair care products. With increasing healthcare demands and the rise of personal care product consumption, companies like Strahl & Pitsch are also expanding their offerings of cosmetic and pharmaceutical-grade waxes.
The packaging industry remains a significant consumer of wax, particularly paraffin wax used for coatings and sealants. In 2024, the Environmental Protection Agency (EPA) has highlighted efforts to reduce plastic waste, which has led to a growing preference for sustainable packaging solutions. With plastics comprising 12.2% of municipal solid waste and recycling rates declining to 5%, the EPA aims to recycle 50% of waste by 2030. Investments of USD 160 million in waste infrastructure will support these initiatives. This regulatory pressure is expected to boost the demand for wax market in United States.
The candle market is flourishing, driven by consumer interest in home decor and aromatherapy products. Candles are used in 70% of U.S. households, with 95% of purchasers being women, highlighting their popularity for home fragrance and decor. Also, candles are staple for decoration during holidays such as Christmas and Halloween. According to the National Candle Association, U.S. candle sales reached approximately USD 4 billion in 2023, with continued growth anticipated in forecast period. This trend positively impacts the wax market as manufacturers respond by producing a wider variety of wax types tailoured for candle making.
The growing emphasis on eco-friendly alternatives is driving key players to invest in the development of sustainable and biodegradable waxes. With rising environmental concerns and stricter regulations from bodies like the Environmental Protection Agency (EPA), there is a shift away from petroleum-based waxes towards bio-based options such as soy wax and beeswax. In 2023, Cargill, a key player in the United States wax market, announced an investment of over USD 30 million towards expanding its production of renewable bio-waxes, which have been shown to reduce carbon emissions by up to 80% compared to traditional paraffin waxes.
As environmental awareness grows, the market for plant-based waxes like carnauba and palm wax is expanding, particularly in the cosmetics and candle-making industries. For instance, companies such as EcoSoya have seen rising demand for their soy-based waxes, which are biodegradable. In the pharmaceutical sector, Fischer-Tropsch wax, and polyethylene wax are finding increased applications in controlled-release drug formulations and ointment preparations, providing numerous United States wax market opportunities.
Moreover, in the food industry, wax coatings are being used to extend the shelf life of fruits and vegetables, offering new uses for paraffin and beeswax. Domino Foods, for instance, has developed food-grade wax coatings to preserve fresh produce. These diverse applications across industries highlight the market’s potential for growth.
Some factors that are acting as restraints in the market are volatility of raw material prices, environmental concerns, and regulatory pressures. The production of traditional petroleum-based waxes, such as paraffin wax, is heavily dependent on the oil and gas industry, making the market vulnerable to fluctuations in crude oil prices. For example, the price of crude oil jumped by more than 30% in 2022, due to which the costs of petroleum-based waxes increased for manufacturers, which were further passed on to end consumers, impacting overall wax demand growth in United States.
Additionally, growing environmental concerns over the use of non-renewable petroleum-derived waxes have spurred stricter regulations from agencies like the Environment Protection Agency (EPA), which restrict the use of certain chemicals in wax formulations. This shift is forcing companies to invest in expensive R&D for sustainable alternatives, increasing production costs. For example, transitioning from paraffin to bio-based waxes like soy wax can be 30-50% more expensive. These factors are slowing the market’s overall growth.
The use of natural waxes for fruit and vegetable coatings to preserve freshness is gaining traction in the country as U.S. consumers are increasingly concerned about chemicals in food production. A 2021 survey by the Organic Trade Association revealed that 82% of U.S. households purchase organic foods regularly, driving demand for natural wax coatings. The apple industry in the U.S. has been a leader in adopting natural wax coatings to maintain the fruit’s freshness while ensuring no synthetic residue is left on the skin. These natural coatings reduce moisture loss and preserve firmness.
Additionally, Apeel Sciences, a company based in California, has pioneered the use of plant-based coatings for avocados. Their natural coating helps slow down spoilage by creating an extra barrier that reduces oxidation and water loss. This innovation has helped retailers cut food waste and influenced United States wax market dynamics and trends. The U.S. Food and Drug Administration (FDA) has also approved several natural waxes for use as coatings, which has further bolstered their adoption. Moreover, in the U.S., it’s estimated that 30-40% of food produced is wasted. By extending shelf life by 50%, food-grade wax coatings contribute to a reduction in spoilage, leading to significant cost savings.
“United States Wax Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Region
| CAGR 2024-2032 - Market by | Region |
| Far West | 3.3% |
| New England | 2.6% |
| Great Lakes | 2.0% |
| Mideast | XX% |
| Plains | XX% |
| Southeast | XX% |
| Southwest | 2.9% |
| Rocky Mountain | XX% |
Market Insights by Type
Mineral wax is anticipated to account for a major market share over the forecast period. This growth can be attributed to the rising utilisation of the wax in cosmetic formulation. The ester and alcohol-free nature of the mineral wax is boosting its adoption by various sectors including food sector. The use of mineral wax as coatings on vegetables and fruits is a significant trend in the United States wax market as it help extend the shelf life of the food product.
The synthetic wax segment, including products like polyethylene and Fischer-Tropsch waxes, is gaining momentum in industrial applications such as plastics, adhesives, and pharmaceutical coatings. Synthetic waxes offer more consistent quality and performance than mineral waxes. Companies such as Sasol and Clariant are investing in the production of Fischer-Tropsch wax due to the growing demand for high-performance waxes in packaging sectors. Moreover, these types of wax have witnessed fair economic trade in the US, leading to their prominent share. For instance, in 2022, about 12,000 metric tonnes of synthetic wax was exported, valued at USD 20 million.
The natural wax segment is also experiencing rapid growth, driven by consumer demand for sustainable, eco-friendly alternatives to petroleum-based products. Waxes like soy, beeswax, and carnauba are gaining traction, especially in the cosmetic and candle-making industries. For instance, soy wax is becoming the preferred choice for eco-conscious candle makers, while carnauba wax is widely used in pharmaceuticals and food coatings due to its natural origin. As per United States wax market statistics, 1,500 metric tonnes of carnauba wax were imported in USA from Brazil in 2022, valued at USD 20 million.
Market Insights by Application
Waxes play a crucial role in the formulation of lip balms, lotions, creams, and cosmetic products, providing texture and moisture retention. The increasing demand for natural waxes like beeswax and carnauba wax is driven by consumer preference for organic and sustainable beauty products. Major beauty brands like Burt’s Bees and Lush are incorporating natural waxes into their product lines. Emulsions made from waxes are widely used in paints, coatings, and textile treatments for their water-repellent and protective properties. As per United States wax market analysis, synthetic wax emulsions are particularly popular in industrial coatings, while natural waxes are finding more application in textiles and personal care products.
Candles account for a significant share of the market owing to the growing popularity of aromatherapy across the United States. Aromatherapy is known to reduce stress and promote relaxation. The increasing availability of candles with varying designs, shapes, colours, and fragrances for the celebration of different occasions is propelling the purchase of candles and boosting the United States wax market revenue. The rising disposable incomes in the country and increasing emphasis on home decor is augmenting the requirement for candles.
Wax is also commonly used in packaging to provide waterproofing and barrier properties in food and industrial packaging. With the rise of sustainable packaging, bio-based waxes like soy wax and beeswax are gaining traction. Leading companies like International Paper are developing wax-based biodegradable packaging solutions to reduce plastic waste. Waxes like polyethylene wax and Fischer-Tropsch wax, are essential in hot melt adhesives, improving their thermal stability and setting time. These adhesives are used in packaging, construction, and automotive industries.
The New England wax market is expanding due to a strong demand for eco-friendly waxes, such as soy that are used in personal care and cosmetics. Yankee Candle, headquartered in Massachusetts, is one of the largest candle manufacturers in the region and it uses natural wax blends in response to consumer demand for greener products. Moreover, as per a 2021 report by Natural Resources Defense Council (NRDC), 68% of consumers in USA are concerned about the eco-impact of their personal care products. This has also encouraged the beauty industry to use natural waxes.
The Southwest is a hub for the oil and gas industry, making it a major producer of petroleum-based waxes like paraffin wax. According to the U.S. Energy Information Administration (EIA), Texas alone produces 40% of total US crude oil, which is a primary raw material for paraffin wax. However, the region is also seeing growth in renewable energy and sustainable products, leading to an emerging market for bio-based waxes. As per United States wax market report, Texas generated around 28% of the US’s total wind power in 2021.
The Mideast region has a strong industrial base, particularly for pharmaceutical and packaging products. Microcrystalline wax is commonly used by companies like Pfizer Inc. for pharmaceutical coatings and controlled-release medications in this region. The New York City area has witnessed a rise in boutique candle brands focusing on eco-friendly wax blends. Moreover, the Institute of Packaging Professionals states that around 65% of companies in the US packaging industry use wax materials that improve product preservation, impacting overall wax demand forecast in United States.
The Great Lakes region has a strong manufacturing presence, leading to high demand for synthetic waxes used in automotive care and industrial coatings. The region also has significant demand for hot melt adhesives in packaging, particularly for use in the e-commerce sector. Turtle Wax, based in Chicago, Illinois, is a leader in the automotive wax industry, developing innovative synthetic and ceramic waxes that offer high performance for vehicle maintenance.
Start-ups in the wax market are focusing on developing sustainable, eco-friendly alternatives to traditional petroleum-based waxes. They are investing in bio-based waxes like soy, coconut, and beeswax. Additionally, these companies are innovating in speciality waxes for niche markets, such as organic cosmetics, pharmaceuticals, and food preservation. For example, start-ups are creating natural wax coatings for fruits and vegetables to extend shelf life and reduce food waste. They are also leveraging advanced technologies to improve the performance of industrial waxes. Start-ups promoting United States wax market development are:
EcoSoya was founded in 1999 and is based in Las Vegas, Nevada. It is a pioneer in the development of eco-friendly and non-toxic soy-based waxes for candle making. EcoSoya’s waxes are 100% natural, free of GMOs and pesticides, and its products are known for their clean burn and smooth finish. The company has won multiple awards for sustainability and innovation in the candle-making industry.
CandleScience was founded in 2004 and is headquartered in North Carolina, United States. It is a major supplier of natural waxes, fragrance oils, and candle-making supplies. The company’s commitment to quality has made it a favourite among small business owners and hobbyists alike. CandleScience has successfully developed 100% soy wax and provides natural wax blends, and complete candle-making kits, along with instructional guides for small businesses.
Market players are focused on sustainability, product diversification, and technological innovation. They are shifting from petroleum-based waxes to bio-based alternatives like soy, beeswax, and palm wax. They are also investing in speciality waxes for sectors such as pharmaceuticals, cosmetics, and automotive care. In addition, some major players are developing advanced wax formulations for controlled-release pharmaceuticals and high-performance automotive coatings.
BASF SE is a chemical manufacturing company that was founded in 1865 and is headquartered in Ludwigshafen, Germany. The company’s portfolio comprises of nutrition and care, industrial solutions, agriculture solutions, and nutrition and care, among others.
The International Group, Inc. was founded in 1943 and is headquartered in Ontario, Canada. It is a chemical ma...
Westech Wax Products was founded in 1984 and is headquartered in Southern California, United States. The compa...
Exxon Mobil Corporation is a natural gas company that was founded in 1999 and is headquartered in Texas, Unite...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other United States wax market players include Evonik Industries AG, Cargill, Incorporated, AAK AB, and HollyFrontier Corporation, among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the market reached an approximate value of USD 2.82 Billion.
The market is assessed to grow at a CAGR of 2.70% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 3.68 Billion by 2034.
The major market drivers include expansion of the healthcare and pharmaceutical sectors and rising emphasis towards the development of eco-friendly wax.
The key trends fuelling the growth of the market include increasing investments on vehicle maintenance and rising requirement from the cosmetics sector.
The major regions in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The applications of wax include cosmetics, candles, emulsions, packaging, floor polishes, hot belts, and pharmaceuticals, among others.
Waxes are lipophilic in nature and turn in malleable solids at ambient temperatures.
The significant types include mineral wax, natural wax, and synthetic wax.
The key players in the market are BASF SE, The International Group, Inc., Exxon Mobil Corporation, Evonik Industries AG, Cargill, Incorporated, Westech Wax Products, AAK AB, and HollyFrontier Corporation, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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