Ski Wax Market Size, Share, Growth, and Global Industry Analysis by Type (Ski and Snowboards), By Application (Glide Waxes and Grip Waxes), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2023 To 2031

Updated On: 13 November 2023

SKI WAX MARKET REPORT OVERVIEW

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The global ski wax market size was USD 197.6 million in 2021 and is projected to touch USD 247.95 million by 2031, exhibiting a CAGR of 2.3% during the forecast period.

Ski wax is the material applied to the bottom of the snow boards including snowboards, skis, and toboggans. The wax is applied to improve the coefficient of friction performance and also protects the skis from scratches. In warm weather, such waxes repel snow and keep the skis gliding and in cold weather, hard snow protects the base of the board keeping the surface smooth. A coating of such wax will make skis and snowboards last long, make them fast, and turn more easily.   

Increasing demand for such wax is due to the awareness of the importance of waxing the skiing boards. Rising preference for skiing and snowboarding is anticipated to govern the growth for the ski equipment that will propel the growth for the wax used for the equipment. The increase in the demand is also due to consumers’ preference and increase in disposable income in leisure activities.

COVID-19 Impact: Halt on Production to Deflate Market Growth  

The global COVID-19 pandemic has been unprecedented and staggering, with ski wax experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the ski wax market growth and demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic are already being felt on a global level, the global ski wax market is noticeably influenced. In 2020, COVID-19 has had a negative impact on many markets. Several countries went into lockdown. With the sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. Halt on the production of the ski equipment has also halted the growth for the related products. This has affected the demand for the waxes used in the ski boards and snowboards. Problems in supply chains created gaps in demand and supply simultaneously influencing the use of special waxes. Moreover, a halt on the skiing industry has also affected the demand for the related products. 

LATEST TRENDS

"Fluoro-Free Waxes to Pose Opportunity for Market Development"

Growing trend for fluoro-free ski waxes is predicted to surge the growth of the global ski wax market. Normal fluoro waxes contain tons of chemicals that can be harmful for health and can cause various health diseases. Rise for fluoro-free waxes is growing due to its features such as its environmental-friendly nature that can be aimed at the future of skiing. The benefits of fluoro-free waxes are predicted to drive the market demand and pose an opportunity for the market. Gradually the demand for fluorinated waxes are expected to decline and increase the demand for fluoro-free waxes. Such use of fluoro-free waxes is expected to pose as an opportunity for the market demand.

SKI WAX MARKET SEGMENTATION

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• By Type

According to type; the market is divided into skis and snowboards.  

• By Application

Based on the application; the market is divided into glide waxes and grip waxes.   

DRIVING FACTORS

"Benefits of the Product to Improve Market Growth"

The global ski wax market growth is projected to rise due to awareness of the benefits of the ski waxes on snowboards. It allows the gear to be speedy and healthier in nature. Such wax gives extra speed during the time of skiing. It helps in prevention of drying of the skis that happens due to dragging down the mountains allowing them to be dried out. Such wax keeps the surface of the skis moist and protects the edges from rusting. Waxed ski boards and snowboards will allow the runner to make easier and smoother turns. Such benefits associated with special waxes are expected to enlarge the demand in the future.    

"Preferences for Skiing to Expand Demand  "

The popularity of skiing has increased tremendously in developing countries such as China, Japan, and other countries. This has led to commercialization of the activity and made it into sport. The need to make the activity a safer and smooth experience which can be done by taking all the precautions. The popularity is also due to government initiatives to promote and also enable safety, which has increased the demand for special waxes that can be applied on the snowboards and ski boards.  

RESTRAINING FACTORS

"Harmful Health Effects to Deter Market Growth"

There are a number of factors that can push the growth of the market. Restraining factors such as harmful effects can restrain the market growth. A group of perfluorochemicals can be found in the fluorinated ski waxes that can cause increased health problems such as cardiovascular diseases and cancer. Such a factor is expected to reduce the demand for the product in the market.

SKI WAX MARKET REGIONAL INSIGHTS

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"North America to Dominate Market Due to Rising Skiing and Snowboarding Activities "

North America holds the largest part of the global ski wax market share due to strong presence of buyers in skiing boards and snowboards. Increasing consumer spending for skiing and snowboarding in countries such as the U.S. and Canada that generates the demand for waxes that are used for the equipment. In addition, growing leisure and hiking activities are also expected to induce consumers to buy necessary safety precautions and waxes that are likely to support the market growth.

Asia Pacific is also expected to have a considerable growth rate due to governments and private support in developing winter sports in countries such as India, China, and South Korea. This is expected to govern the growth for the related products.

KEY INDUSTRY PLAYERS

"Key Players to Boost Demand Leading to Market Growth"

The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Hertel Wax (U.S.)
• Swix (U.S.)
• ZumWax (U.S.)
• Demon (U.S.)
• ONE-BALL (U.S.)
• Maxiglide (U.S.)
• Briko Maplus (Italy)
• Dakine (U.S.)
• Fast Wax (U.S.)
• Burton (U.S.)
• Holmenkol (Germany)
• Purl Wax (U.S.)
• Datawax (U.K.)
• Darent Wax (U.K.)
• TOKO Wax & Care (Switzerland)
• Start Ski Wax (Finland)
• Rex (U.S.)
• Nanox (Czechia)
• Boardside Down Wax

INDUSTRY DEVELOPMENT

• June 2020: Swix has launched new fluoro-free ski wax. The company has been developing the fluoro-free ski wax line from 2013 and now has launched a new brand line called Pro by Swix. The products of the new brand line are fully biodegradable and non-toxic.  

REPORT COVERAGE

This research profiles a report with widespread studies that take into an explanation of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.