The Impact of Chinese Paraffin on Global Market
China is the world's largest paraffin wax producer, accounting for 70% of international trade. Chinese paraffin wax price has great effect on the international market and also has an absolute advantage in the entire Asian market.
Chinese paraffin dominates the entire Asian market. Although the export of paraffin in Iran has increased in the past two years, it has little impact on the market because of its poor quality. Most countries in Southeast Asia are paraffin-importing countries.
In 2014, the demand for paraffin in Southeast Asian countries reached 600,000 tons, which is in short supply. It is foreseeable that China has a promising market for paraffin in Southeast Asia.
There is still a certain demand space in the European paraffin market. China should give full play to the advantages of superior product quality, comprehensive types and reasonable price, and actively strive to expand market share.
As a traditional paraffin demand country, due to the change in the refining industry, America’s demand for paraffin wax is growing slowly. At the same time, because of the transformation of lubricants, many factories can not adapt to new changes, have stopped production. As byproduct of the lubrication oil, paraffin wax is no longer produced.
Faced with the strong demand of the international paraffin wax market, large international oil companies like Shell, Exxon Mobil, planed to expand paraffin wax productioion.
These paraffin wax manufacturers with strong technology power and advanced management will be our strong competitors. Therefore, Chinese paraffin wax types need to be adjusted and paraffin wax quality should be further improved.