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Paraffin Price Trend Analysis 2026: Latest News, Historical Prices, Supply Demand Analysis, Price Drivers & Market Insights
Written ByUdeesha Tomar
Paraffin Latest Development
Iran war drives crude oil prices higher
The conflict between the U.S., Israel and Iran has disrupted oil flows through the Strait of Hormuz, pushing up crude oil prices. Higher crude costs have lifted gasoline and diesel prices, contributing to broader inflation. Supply constraints are expected to keep prices elevated until mid‑2027.
Paraffin Price Trend Q3 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Paraffin | China | FOB | USD 1,049.38/MT | July 2026 |
| Paraffin | India | FOB | USD 1,616.00/MT | July 2026 |
| Paraffin | USA | CIF | USD 1,236.87/MT | July 2026 |
| Paraffin | Germany | CIF | USD 1,183.01/MT | July 2026 |
| Paraffin | Canada | CIF | USD 1,251.87/MT | July 2026 |
Stay updated with the latest Paraffin prices, historical data, and tailored regional analysis
Paraffin Price Trend Q2 2026
- Global paraffin markets opened Q2 2026 firm as Middle Eastern shipping disruptions tightened refinery feedstock supply and increased logistics risk. Conditions later became mixed as supply routes recovered.
- Crude oil volatility raised refining and transportation costs early in the quarter, but easing geopolitical premiums reduced upstream pressure during May and June.
- Demand from candles, packaging, cosmetics and rubber remained uneven. Weak industrial purchasing limited increases, while export activity supported selected regional markets.
Asia
China’s paraffin averaged around USD 1,049/MT FOB in June 2026, while India recorded an average of approximately USD 1,632/MT FOB. Asian prices opened the quarter firmly as Middle Eastern supply disruption; reduced refinery runs and precautionary procurement tightened feedstock availability. Pressure weakened during May when regional tensions eased and buyers reduced purchases. Chinese demand from candle, packaging and rubber manufacturers remained subdued, leading to cautious transactions and softer supplier offers. Indian trading also slowed, although temporary feedstock and logistics constraints prevented a sharper correction. The market became more stable in June as shipping conditions improved.
Europe
Germany’s June 2026 paraffin assessment averaged USD 1,170/MT CIF. European prices remained firm during April because Gulf supply disruptions increased feedstock, freight and replacement costs. The market softened in May as geopolitical concerns eased, and refinery input costs declined. Weak industrial activity and cautious purchasing from candle, packaging and board-sizing producers added downward pressure. During June, values stabilized as logistics improved. Firm diesel and jet-fuel margins supported refinery operations, while slow downstream purchasing prevented a meaningful paraffin recovery.
North America
The June 2026 average for US paraffin stood at ~USD 1,204/MT CIF. Prices received support in April from elevated feedstock costs, supply uncertainty and export demand. The market weakened during May as inland consumption softened and upstream pressure reduced. Conditions stabilized in June because petroleum-product exports continued absorbing refinery output. Uneven refinery throughput and cautious domestic buying prevented a stronger recovery.
Analyst Insight
According to Procurement Resource, paraffin prices may remain mixed. Improving feedstock flows could ease costs, but refinery operating rates, export demand and cautious downstream purchasing should prevent a broad decline.
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- Global paraffin prices followed a firm-to-volatile trend during Q1’26 as energy-market disruptions, tightening refinery-linked supply conditions, and elevated freight expenses supported market sentiment globally.
- Feedstock pressure intensified after disruptions around the Strait of Hormuz affected nearly 20% of global oil and LNG trade flows, sharply increasing refinery operating costs, freight premiums, and replacement values.
- Downstream demand from candles, packaging, rubber processing, adhesives, cosmetics, textiles, and board industries remained stable, although buyers maintained cautious procurement strategies amid volatile energy markets.
Asia
In Asia, paraffin prices remained firm during Q1’26 due to elevated refinery-linked production costs and higher regional freight expenses. Market sentiment strengthened after Reuters reported that Brent crude forecasts for 2026 increased by nearly 30% from pre-war estimates, while global energy supply concerns intensified due to the Iran conflict. Tightened export availability and higher marine insurance costs following the Strait of Hormuz disruption supported replacement values across China and India. Stable downstream demand from candles, packaging waxes, rubber products, textiles, and adhesives continued to support regional procurement despite cautious buying activity.
Europe
In Europe, paraffin prices strengthened as import-dependent buyers faced elevated freight, utility, and replacement costs during Q1’26. Shipping disruptions and rerouting of tanker cargoes increased logistics expenses across the region, while concerns regarding declining OPEC+ output by up to 11 million barrels/day in Q2’26 further tightened energy-linked sentiment. Demand from cosmetics, board coating, industrial wax applications, and candle manufacturing remained comparatively stable, although weaker industrial activity limited sharper gains.
North America
In North America, paraffin prices remained stable-to-firm due to higher export replacement costs and tightening global refinery economics. Reuters also noted that WTI forecasts increased substantially from pre-conflict projections, while the International Energy Agency’s 400-million-barrel strategic release covered only around 20 days of normal Hormuz flows, sustaining supply-risk sentiment globally. Demand from packaging, adhesives, candles, rubber processing, and industrial wax applications remained balanced, supporting steady procurement activity despite cautious inventory management.
About Paraffin
Paraffin, composed of a mixture of hydrocarbon molecules, is a soft colorless solid, obtained from petroleum, coal or shale oil. At room temperature, the substance is solid, but begins to melt above approximately 37 °C (99 °F). Its boiling point is over 370 °C (698 °F).
Paraffin Product Detail
Industrial Uses
Lubrication and hot melt adhesives, Agriculture, Electrical insulation, Food, Candles, Rubber and plastic processing aids
Synonyms
Paraffin wax, Petroleum wax
Supplier Database
Paraffinwaxco, Inc., Sinopec, PetroChina Company Limited, Chennai Petroleum Corporation Limited, Numaligarh Refinery Limited, UNICORN PETROLEUM INDUSTRIES PVT. LTD.
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Paraffin Production Processes
- Paraffin Production via Petroleum; and via Slack Wax
Slack wax, a mixture of oil and wax, is a byproduct from the refining of lubricating oil. While preparing Paraffin from slack wax, the oil is removed (de-oiling or de-waxing) from the slack wax and it is further crystallised and then filtered to produce Paraffin.
Our Price Analysis Methodology
About the Author
Udeesha Tomar
AVP - Strategy and Solutions
Leading procurement research solutions across chemicals, materials, and food & beverages, with expertise in price forecasting and market analytics.
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