Research On Wax Market – Industry Growth, Trends and Forecast, 2014 – 2021
Wax is a type of organic compound that is malleable at room temperature. It melts above a temperature of 450 C turns into a low viscosity fluid. Wax offers resistance to air and water. So, it is used in various industries such as packaging, cosmetics, and adhesive. Waxes are used for production of impregnating paper, wax paper and coating paper. It is used to for resistance against staining and to moderate its surface properties.
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The Wax market is segmented by product as petroleum and mineral wax, synthetic wax and natural wax. The petroleum and mineral wax is further segmented into paraffin wax. Microcrystalline wax and others (including semi-crystalline wax, petroleum jelly, etc.). Paraffin wax has the greatest market share. The synthetic wax is further classified into gas-to-liquids (GTL) wax, polymer wax and others (including montan wax, etc.). Synthetic wax has similar properties of paraffin wax and can be used to replace them in many applications. The natural wax is further segmented into beeswax, vegetable wax and others (including animal wax, Japan wax, rice bran wax, etc.).
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The key driver for Wax market is the growth of end-user industries like packaging and cosmetics. The gas-to-liquids technology is anticipated to offer new opportunities for market players during the forecast period. The physical properties of wax are projected to boost its demand in cosmetics and packaging industries during the forecast period. This will help to fuel the wax market during the forecast period. The key constraints of this market are closure of Group I base oil refineries and limited supply of wax.
Best Region Of Markets :
Asia Pacific is the largest producer and exporter of Global Wax. It is due to the growth in candles, packaging, adhesive and cosmetics industries. The demand for wax in Middle East & Africa regions is expected to increase during the forecast period. The key players operating in the wax market are China National Petroleum Corporation (CNPC), The International Group, Inc. (IGI).
SEGMENTATIONS IN REPORT :
A. Wax By Product :
1. Petroleum And Mineral Wax
2. Paraffin Wax
3. Microcrystalline Wax
4. Synthetic Wax
5. Polymer Wax
6. Natural Wax
3. Wood & Fire-Logs