The majority of the demand for paraffin comes from the candle manufacturing segment, which accounts approximately half of the overall global consumption of paraffin wax.
LONDON: The procurement research report on the paraffin wax market is an indispensable part of SpendEdge’s chemicals category portfolio and offers a comprehensive explanation of the key factors influencing the supply market, procurement decisions, pricing models dynamics, and procurement best practices. Furthermore, it also offers an in-depth analysis of the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
The growth in demand for paraffin has been from a wide range of industries. This is primarily due to the easy refining capabilities of paraffin wax and a broad range of physical properties that can be easily modified through refining techniques.
“Innovative strength of the supplier is one of the most important parameters that purchasing managers must evaluate,” says Anil Seth, a chemicals industry procurement research specialist at SpendEdge. “This assures access to recent technologies, providing them first mover advantage,” added Anil.
Paraffin wax is a by-product obtained from the refining of crude oil or petroleum. Hence, it has the presence of high level of impurities, which are removed in several subsequent processes. However, it might be difficult to ascertain several compounds that might be present in small quantities due to lack of definitive or standard tests. This can lead to lack of uniformity in products offered by different suppliers.
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This procurement report on the paraffin wax market offers insights on:
- Supply markets, growth drivers, trends, and imminent restraints
- Key suppliers and assessment of their capabilities
- Procurement best practices
- Negotiation strategies and cost-saving opportunities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
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