In 2014, the total consumption of paraffin in the world was about 3.3 million tons. From the change trend of total paraffin consumption in the world, from 1993 to 1998, the consumption of paraffin in the world showed a slight upward trend, with an average annual growth rate of 1.4%. In 1998, the world’s paraffin consumption was 3.82 million tons, the highest in the past 20 years. Since 1998, with the reduction of paraffin-based crude oil resources and the rapid development of paraffin substitutes, the consumption of paraffin has declined slightly. It is reported that the consumption of paraffin in the world in 2014 was only 86.4% of that in 1998. Table 1: Top Ten Paraffin Wax Manufacturers in the World Top Ten Paraffin Wax Manufacturers in the World name Annual production capacity (10,000 tons) Note China Petroleum 101 Nanchong 10,000 tons plant has been discontinued Exxon Mobil 87.75 Sinopec 62 Shell 48.5 Plan to close its device in the United States Saso 45 Lukoil 28.5 Venezuela National Oil 17.5 Petrobras 13.25 French Total 10.25 Adip Petroleum 10.25 Americas Market: In 2014, paraffin production in the United States is expected to be 310,000 tons, down 20.2% from 388,600 tons in 2010. In 2014, the import volume is expected to reach 370,000 tons, which is 19.3% higher than the local production. The main reason is that: in 2014, the two largest paraffin plants in the United States were parked, which had a greater impact on the supply side. In 2014, the total consumption in South America was about 200,000 tons, 60% of which was used in Brazil. There were nearly 1,100 candle factories in South America, of which nearly 800 were in Brazil; Paraffin consumption in Central America was about 210,000. Ton, 80% is consumed by Mexico. Mexico has more than 70% of the population in the region, of which more than half of the paraffin consumed is used to make candles. Europe: According to the economic development of different countries and regions, the consumption structure of paraffin wax also has its own characteristics. In developing countries and regions such as Asia and Africa, the use of lighting candles is relatively large; in the United States and Canada, the proportion of packaging wax is the highest; the proportion of religious waxes and waxes used in Western Europe is higher. From the general situation of the paraffin market in the world, candle wax accounts for about 42%, wax for packaging accounts for 24%, and other uses include building boards, cosmetics, waxes for rubber and other purposes. In 2014, the proportion of consumption in the European region accounted for about 39% of the world's total, with a total of 1.28 million tons, of which Western Europe accounted for 20%, and Central and Eastern Europe accounted for 19%. Asian Markets: Asian markets remove most of China's paraffin-importing countries, especially India and Southeast Asia. Paraffin wax is increasingly demanding. With the strengthening of anti-dumping investigations against China in Europe and the United States, China’s export share has been declining. However, the export of the surrounding areas is becoming more and more prosperous, especially the paraffin wax price and freight advantages are more obvious. In 2014, consumption in Asia is expected to exceed the 1 million-ton mark and maintain rapid growth in the next few years. As China's production and sales occupy a significant position in Asia, local paraffin price changes are most affected by the Chinese market. To sum up, although the U.S. economy has shown signs of recovery, due to the decline in domestic production and the rapid development of alternatives, paraffin wax consumption continues to show a slight downward trend. In Europe, the economy is in a downturn and paraffin consumption will also decline. The rest of the Latin American and Asian markets are expected to maintain steady growth. As a result, the future consumption of the paraffin market in the world continues to show a slight decline. The emerging Asian and African countries deserve attention. LED Underwater light,Full colour underwater luminaires,Waterproof lighting underwater lamp Kindwin Technology (H.K.) Limited , https://www.ktlleds.com
August 31, 2023