Global Ski Wax Market By Type (Glide Waxes , Grip Waxes), By Application (Skis , Snowboards), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032
- Published date: May 2023
- Report ID: 51954
- Number of Pages: 308
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Ski Wax Market Overview
The global ski wax market was valued at USD 56.03 billion in 2022. It is expected to grow at an 8.61% CAGR and reach USD 127.97 billion between 2023 and 2032. This global market continues to grow due to an increased demand for Ski wax in snow conditions. Ski wax is a material applied to the end of snow runners, which involves skis, toboggans, and snowboards to increase their friction performance in changing snow conditions. As oxidizing is unavoidable, using wax can protect the snowboard from oxidation.
Moreover, providing glide helps shield the skiing gear from scratches. Soft waxes from paraffin keep skis gliding in warm weather and repel mushy snow. Due to their capability to make the complete skiing experience enjoyable and fun by reducing friction, making the gear speedier, and helping it last longer. Such factors drive the growth of the target product in the global market expansion. This market report gives a detailed analysis of the ski wax market size, share, growth, key trends, ski segment application, overall market study, and other key factors.
Global Ski Wax Market Analysis
Type Analysis
Based on type, the ski wax market for ski wax has been segmented into grip waxes and glide waxes. The glide-wax sector is dominant among these types and accounts for a significant market share as it is preferred to decrease sliding friction for cross-country skiing and downhill, the most general type of skiing. Also, the kinetic friction can be reduced by glide wax. Grip-wax, usually known as kick wax, deals cross-country skiers with on-snow grip when they step forward, applying the classic technique and reducing static friction.
Application Analysis
The ski wax market is segmented by application into skis, toboggans, and snowboards. The wax is used to increase their coefficient of friction performance under changing snow conditions. Considering these features, the skis segment drives the growth of the global market. Due to their affordability, usage, and experience, the ski segment holds most of the market share in competitive sports on international levels.
Key Market Segments
Detailed segmentation is given based on the product type and application.
By Type
- Glide Waxes
- Grip Waxes
By Application
- Skis
- Snowboards
- Toboggans
Market Dynamics
Drivers
- The global ski wax market will likely grow due to increased awareness of the advantages of using wax on snowboards. The wax aids the tool to be environmentally friendly.
- The wax also provides more skiing speed and helps avoid ski drying caused by dragging down the mountains, facilitating them to dry out.
- The wax safeguards the blades from rusting and keeps the surface of a ski wet. It helps the runner to make simpler and smoother spins on waxed skis and snowboard boards. These special waxes are anticipated to raise the demand shortly.
- Skiing has grown approval in developing Asian economies such as South Korea, China, and Japan. This has resulted in its transformation into a sport.
- Government efforts to support safety have also enhanced the necessity for waxes and special creams which can be applied to ski boards and snowboards. Adapting these measures can make the sport a safer and more entertaining experience.
- The world’s ski wax market is predicted to grow because of the growing awareness of the benefits of using it as a product on snowboards.
Challenges
- Restrictive factors, such as harmful consequences, might limit market expansion. The perfluorochemicals possessed by Fluorinated ski waxes may cause increased health issues such as cardiovascular disease and cancer. This factor is predictable to hamper the ski wax market growth.
Opportunities
- Growing demand for several skis waxes (for example, fluoro-free wax) is likely to drive revenue growth in the industry. Ordinary fluoro waxes contain many substances that can harm one’s health and cause various disorders.
- Fluoro-free waxes can direct the revenue growth of skiing and are becoming more widespread due to their environmental friendliness. The advantages of fluoro-free waxes are anticipated to increase the ski wax market demand and current market potential.
COVID-19 Impact
- In 2020, the COVID-19 pandemic harmed several industries. During the pandemic, all types of businesses witnessed disruptions. The pause on the production of ski equipment has also stopped the development of related products, affecting the demand for the ski wax used in snowboards and ski boards.
- Difficulties in supply chains formed gaps in demand and supply, instantaneously inducing the use of special waxes. Moreover, a break in the skiing industry has also impacted the demand for related products.
Product launch and Product Expansion
HWK ski waxes result from collaboration between technicians, top athletes, and chemists. It is now available in powder, stick, and spray forms, giving athletes greater versatility and making it more useful in competitive environments.
In November 2021, HWK’s top coating range is now offered at Skiwax Europe. In June 2020, Swix introduced a new fluoro-free ski wax. Since 2013, the firm has been developing a fluoro-free line and recently introduced a new brand line titled Pro by Swix. The new brand line’s items are completely biodegradable and non-toxic. This will not only provide customers with more variety but also helps in promoting sustainability.
Regional Market Analysis
North America held a significant market share of around 37.8% of the global ski wax industry due to the existence of purchasers in snowboards and skiing boards. Growing consumer expenditure for snowboarding and skiing in countries like Canada and the U.S. increases the demand for waxes for the equipment. Moreover, growing hiking activities will likely encourage consumers to buy essential safety precautions that may boost the ski wax market’s growth.
The Asia Pacific region is likely to proliferate due to government and business investment in supporting winter sports in nations such as South Korea, India, and China. Though, the development in China will be mainly driven by large due to investments in network integration and activities of the Chemical Industry. This is projected to lead to the growth of connected goods and open up many new opportunities for European businesses. Due to similar reasons, the Middle East & Africa region is expected to stay low and rise slowly.
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Mexico
- Europe
- Germany
- The UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
The ski wax market is a subtly merged market owned by small and large players. Some of the most prominent players in ski wax worldwide are the following.
Ski Wax Market Key Players:
- Glide-on Wax
- Datawax
- Darent Wax Co Ltd
- Ertel Wax
- Fast Wax
- Maxiglide Purl Wax
- ZumWax
- Dakine Inc.
- Briko Maplus
- Hertel Ski Wax
- Other Key Players
For the Ski Wax Market research study, the following years have been considered to estimate the market size:
Attribute Report Details Market Size in 2022
USD 56.03 billion
Growth Rate
8.61%
Forecast Value in 2032
USD 127.97 billion
Historical Years
2016-2020
Base Year
2021
Estimated Year
2022
Short Term Projection Year
2028
Projected Year
2023
Long Term Projection Year
2032
Report Coverage
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
Regional Scope
North America, Europe, Asia-Pacific, South America, Middle East & Africa
Country Scope
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)
What will be the market size for Ski Wax Market in 2032?In 2032, the Ski Wax Market will reach USD 127.97 billion.
What CAGR is projected for the Ski Wax Market?The Ski Wax Market is expected to grow at 8.61% CAGR (2023-2032).
Name the major industry players in the Ski Wax Market.Glide-on Wax, Datawax, Darent Wax Co Ltd, Ertel Wax, Fast Wax, Maxiglide Purl Wax and Other Key Players are the main vendors in Cosmetic Packaging.
List the segments encompassed in this report on the Ski Wax Market?Market.US has segmented the Ski Wax Market by geographic (North America, Europe, APAC, South America, and MEA). By Type, market has been segmented into Glide Waxes and Grip Waxes. By Application Channel, the market has been further divided into, Skis, Snowboards and Toboggans.
What are the main business areas for the Ski Wax Market?North America and APAC are the largest market share in Ski Wax Market.
- Glide-on Wax
- Datawax
- Darent Wax Co Ltd
- Ertel Wax
- Fast Wax
- Maxiglide Purl Wax
- ZumWax
- Dakine Inc.
- Briko Maplus
- Hertel Ski Wax
- Other Key Players
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