In 2023, Germany's gross inland consumption of paraffin waxes was estimated at approximately 3.00 thousand terajoules. From 2024 onwards, forecasts indicate a consistent annual decrease: from 2.63 in 2024 to 1.16 thousand terajoules by 2028. Year-on-year analysis reveals a decrease of approximately 14% annually till 2028. The compounded annual growth rate (CAGR) over this period shows a downward trend, averaging about 16% per year.
Future trends to observe include advancements in alternative wax technologies and shifts in consumer preference towards environmentally friendly products. Monitoring policy changes affecting the chemical industry will also be crucial.
