Albany, NY -- (SBWIRE) -- 04/18/2019 -- Micronized wax is mainly a powdered wax which is characterized by less than 10 micro meter particle size. There are several varieties of waxes found in nature which are further synthesized under controlled conditions. Wax generally exhibits lubricating property. They are mainly composed of fatty acids, alcohols, esters, and hydrocarbons that become solidified at normal temperatures. Micronized waxes are generally more viscous, darker, and denser and also has high melting point and molecular weight. Due to the powdery texture, they are more flexible than paraffin wax and also extensively used in cosmetic formulations. Such property is fueling demand in the global micronized wax market.
Going forward, the global micronized wax market is expected to grow at a solid pace. The global micronized wax market is also anticipated to register an impressive CAGR during the forecast period between 2017 to 2025.
Rising Need for Enhancing Aesthetic Appeal of End-Products Stoke Demand in Market
Micronized wax is widely used as surface protection across various industries. The wax texture or the special additives used in making micronized wax impacts the surface finish. Along with this, micronized wax helps in enhancing the overall aesthetic appearance of the end products. Their lubricating property improves the visual appeal of products or materials. However, micronized wax also possess properties such as slip resistance, abrasion resistance, and control of rheology. Due to such excellent properties, micronized wax has a wide range of application areas. They are highly applicable in printing inks, paints and coatings, plastic processing, adhesives and sealants. Such USPs are driving the global micronized wax market.
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Furthermore, micronized wax are also extensively used in different types of coatings such as coil, wood, and UV. Micronized wax offers numerous benefits such as reduced static and dynamic friction, scratch resistance, matt finish, and release agent properties. Along with these, rising demand for paints and coatings in construction and automotive industry, and flourishing painting and inks industries are also propelling the global micronized wax market. Such wax is highly used in enhancing the surface properties of coatings, paints, and plastics. All such advantages are also booting the global micronized wax market.
Introduction of Application Specific Micronized Waxes to Boost Market Growth
A latest trend observed in the global micronized wax market is introducing application specific micronized waxes. To stay abreast with this recent trend, many manufacturers in the market are channelizing their efforts at offering tailor made blends for few specific applications. They are focusing hard on introducing such application specific micronized waxes in order to enhance durability and improve resistant properties of the finished products. This factors is fueling growth in the global micronized wax market.
Flourishing Paints and Coatings Industry in Asia Pacific to Contribute to market Demand
Geographically, Asia Pacific is leading the global micronized wax market as the region has seen rapid industrialization. Growing coatings and printing industries, increasing polymer production, and rising powder coatings application are also responsible for fueling growth in the micronized wax market in this region.
Global Micronized Wax Market: Participants
Examples of some of the market participants identified across the value chain of global Micronized Wax market are:
-The Lubrizol Corporation
-Clariant AG
-Sasol Wax International AG
-Honeywell International Inc.
-Deuteron GmbH
-Linvest GmbH
-CERONAS
-Polyten Inc.
-Micro Powders, Inc.
-Shamrock Technologies Inc.
-Weezenbeek
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