A study released by Kline, a market research organization, recently stated that changes in the refining process of lubricating oil have led to a continuous decline in the supply of petroleum waxes worldwide, and also provided market opportunities for replacing wax formulations. Kline said that in 2010, global wax supply was estimated at 4.4 million tons, of which petroleum wax accounted for 85%, which was the first time that the share of petroleum wax was lower than 90% in several decades. In the past five years, the supply of paraffin wax was tight, the price of crude oil rose, and the price of paraffin wax rose steadily, creating opportunities for synthetic wax and animal and vegetable waxes to enter the market. At present, Fischer-Tropsch waxes and polyethylene waxes have accounted for nearly 11% of the global supply of waxes; vegetable waxes and animal waxes—mainly used for cardboard sizing, candles and fireplace ignition applications, account for approximately 4%. Klein’s research report stated that the major reason for the significant decrease in paraffin supply in North America and Western Europe was due to the reduction in the supply of Group I base oils, which are by-products of the production of Group I base oils. However, as China's lubricants industry continues to increase its demand for Group II and Group III base oils, its demand for Type I base oils remains flat or declining, thus affecting the global supply of petroleum waxes. The research report also stated that from 2010 to 2020, global wax consumption is expected to continue to grow at an average rate of over 2%. Automatic Adhesive Labeling Machine,Sleeve Label Shrinking Machinery,Bottle Sleeve Labeling Machinery Zhangjiagang Chunyuan Machinery Co.,Ltd , http://www.chunyuanmachine.com