Evonik Industries AGEVK
▲ PositiveDemandrelevance
Growing wax market, especially in cosmetics and natural wax segments, may increase demand for Evonik's wax-related products.
Impact on stocks 1
Materials
Evonik Industries AGThe global wax market is projected to grow from USD 11.26 billion in 2025 to USD 16.65 billion by 2035, at a compound annual growth rate of 3.99%. Asia Pacific held the largest share in 2025 at 35.67%, with China contributing about 37.8% of that region's revenue. The U.S. market is expected to rise from USD 2.44 billion in 2025 to USD 3.85 billion by 2035, while Europe is forecast to increase from USD 3.04 billion to USD 4.82 billion over the same period. Mineral wax dominated the product segment with a 68.23% revenue share in 2025, and candles accounted for around 35% of application revenue. Natural wax and cosmetics and toiletries are expected to register the fastest growth rates through 2035.
Evonik Industries AGGrowing wax market, especially in cosmetics and natural wax segments, may increase demand for Evonik's wax-related products.