Waxes prepared from hydrogenated plant oils, such as castor, palm, and soybean, are used to prepare water based emulsions. The inventive waxes, obtained from naturally derived, renewable resources, were emulsified under anionic, cationic and nonionic conditions, producing emulsions having a solids content up to about 45% solids. The emulsions are stable, and are characterized by having an average particle size less than 1000 nanometers. When used to coat fibrous cellulosic articles, such as paperboard, the emulsions' performance was similar to emulsions containing petroleum-derived waxes. The inventive waxes have a low iodine value (between 2-5), and melting points between approximately 120-200 degrees F (49-94 degrees C) (Mettler Drop Point). The inventive waxes are used as an alternative to petroleum-derived, or expensive naturally-occurring waxes in the manufacture of emulsions used in coatings, polishes, adhesives, paper products, paperboard and other manufacturing operations.