Global Industrial Wax Market is driven by the increasing population, rising per capita income in emerging countries, and mounting demand from various applications
Vancouver, WA -- (SBWIRE) -- 11/05/2019 -- Industrial wax is an organic substance that utilizes in many applications like candles, coatings & polishing, tire & rubber, hot-melt adhesive, food and cosmetics & personal care.
According to BlueWeave Consulting, the Global Industrial Wax Market is projected to exhibit significant growth during 2019-2025. Rising demand from applications like candle, tire & rubber in the Asia Pacific and North America along with increasing demand from coatings and printing inks manufacturers is projected to drive the market over the forecast period.
The shift from regular petroleum wax-based products to synthetic and vegetable waxes is maturing intense. Moreover, stringent standards on VOC emissions are anticipated to trigger the demand for superior coating system, i.e., solvent-borne coating system demand. This increase in coating system demand is projected to boost global industrial wax industry for coating application areas.
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Industrial Wax market: competitive landscape
Companies such as Sinopec, Royal Dutch Shell, Petroleo Brasileiro, Exxon Mobil, Sasol, Oil Co. Lukoil PJSC, Numaligarh Refinery, HCl Wax, The Blayson Group, and the International Group, Inc. are the leading players of market across the globe.
Fossil-based type is projected to be the most lucrative segment of the global industrial wax market during the forecast period
In terms of type, fossil-based wax accounted for the largest market share in 2018 and is projected to dominate the industrial wax market throughout the forecast period. Fossil-based waxes used in cosmetics, candle making, packaging, and coatings of commercial products. There is a significant growth seen in end-use industries such as petrochemical, pharmaceuticals, cosmetics, and plastics industries. This growth is a crucial driver for the fossil-based wax market. Bio-based waxes are renewable and environmentally-friendly and used in several applications like cosmetics, pharmaceuticals, polishes, and cheese coatings for protection against mechanical stress, water-loss, UV-radiation, and parasites.
The Asia Pacific accounts for the lion's share of the global industrial wax market during the forecast period
Geographically, the industrial wax market analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific is the leading region during the forecast timeline. The regional growth is driven by positive growth in the industries such as automotive, construction, cosmetics, and food. Improving socio-economic factors such as living standards, income, and spending power across developing economies will positively influence the regional industrial wax market during the forecast period.
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Key Target Audience:
- Market research and consulting firms
- Industry associations
- Industrial wax manufacturers
- Research organizations and consulting companies
- Organizations, associations and alliances related to industrial wax market
- Regulatory bodies
The objective of the Study:
- To analyze and forecast the Global Industrial Wax Market size of the market, in terms of value.
- To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Industrial Wax Market into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America and their leading countries.
- To outline, categorized and forecast the global Industrial Wax Market based on the type and Application.
- To examine competitive developments like technological advancement, services, and regulative framework within the global Industrial Wax Market.
- To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
- To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Request for Customizations: If you have any special requirement, please let us know and we can provide you the report as your requirement.
Scope of the Report
- Fossil based
- Synthetic based
- Bio based
- Coatings & Polishes
- Hot-melt Adhesives
- Tires & Rubber
- Cosmetics & Personal Care
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Business Questions answer by the report
- How will the market drivers, restraints and opportunities affect the market dynamics?
- What will be the market size in terms of value and volume and market statistics with a detailed classification?
- Which segment dominates the market or region and one will be the fastest growing and why?
- A comprehensive survey of the competitive landscape and the market participant players
- Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority and that's why BlueWeave Consulting offers customization according to Company's specific needs. The following customization options are available for the report:
Additional Company Information
- With five additional company detail analysis
- Additional country analysis
- Detailed segment analysis
Don't miss the business opportunity of Global Industrial Wax Market. Consult to our analyst and gain crucial insights and facilitate your business growth.
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