To produce, stably at a low cost, a wax compsn. which has excellent flexibility, smoothness, dispersibility, and emulsifiability similar to those of beeswax by using isoparaffin as the main ingredient, by compounding isoparaffin with n-paraffin in a specified ratio, and by imparting specified physical proper ties to the compsn.

This wax compsn. contains a 20-60C hydrocarbon component and has the m.p. of 30-70°C and a rate of penetration at 25°C of 20-70. The hydrocarbon component comprises 60-100 wt.% isoparaffin and 0-40 wt.% n- paraffin. The compsn. is prepd. by the urea dewaxing method wherein n-paraffin is added to urea to separate isoparaffin; by the solvent separation method wherein a slack wax of a petroleum distillate is dissolved in a solvent and slowly cooled to remove crystals; or by the fractional distillation method wherein a paraffin fraction is fractionated from a petroleum wax to obtain isoparaffin as the residue. The resultant wax component is purified by hydrogenation, active carbon treatment, etc. to give the objective wax compsn.