In January 2025, the global Paraffin Wax market experienced varying price trends influenced by multiple economic and seasonal factors. While some regions witnessed upward price movements due to shifting market dynamics, others experienced stabilization as supply and demand found balance. Fluctuations in production costs, logistical conditions, and industry-specific demand patterns played a crucial role in shaping price trajectories. Additionally, temporary market influences contributed to short-term volatility, affecting procurement strategies across different sectors.

In the Asian market, Paraffin Wax prices witnessed a notable surge, with China experiencing the most pronounced impact. This Paraffin Wax price escalation can be attributed to a confluence of factors that exerted upward pressure on the market. Primarily, the volatility in the price of crude oil, a key feedstock for Paraffin Wax production, contributed to increased manufacturing costs. The fluctuations in crude oil prices during the review period resulted in higher input costs for producers, thereby driving up Paraffin Wax prices. Additionally, the onset of Lunar New Year celebrations, observed for nearly a week across China and neighboring countries such as South Korea and Taiwan, contributed to a moderate resurgence in Paraffin Wax demand. Both domestic and international markets, particularly downstream industries such as candle manufacturing and cosmetics production, witnessed increased procurement activity. The festive season-induced rise in consumption further compounded the upward price trend, as buyers sought to secure supplies ahead of potential post-holiday price adjustments.

In the European and North American markets, Paraffin Wax prices exhibited a modest month-on-month increase. At the beginning of the month, prices experienced a slight uptick; however, this upward movement was short-lived as prices began to soften in the following weeks. This fluctuation is attributed to a combination of interrelated factors, primarily the gradual alignment of supply with demand and a reduction in freight costs. Despite the initial price increase, the overall market demand for Paraffin Wax remained stable, with limited fresh bids or procurement inquiries from key downstream industries, including the cosmetics and candle-making sectors. The improved availability of imports, coupled with easing logistical constraints, contributed to a more balanced demand-supply dynamic. Consequently, as market equilibrium improved, the upward pressure on prices diminished, resulting in a gradual price correction towards the latter half of the month.

According to ChemAnalyst, Paraffin Wax prices are anticipated to rise in the coming weeks. One of the key contributing factors to this expected increase is the imposition of tariffs on Chinese goods by the United States, which may lead to higher import costs and supply chain disruptions. The potential impact of these tariffs could intensify cost pressures on manufacturers and limit the availability of competitively priced imports, thereby driving Paraffin Wax prices upward.