NEW YORK, July 17, 2019 /PRNewswire/ -- Global
Industrial Wax Market: About this market
Industrial wax refers to hydrocarbon compounds that are primarily
synthesized from crude petroleum for its use in various industrial
applications. This industrial wax market analysis considers sales
from various applications including candle manufacturing,
packaging, coatings and polishes, and others. Our analysis also
considers the sales of industrial wax in APAC, Europe, MEA, North
America, and South America.
In 2018, the candle manufacturing segment had a significant market
share, and this trend is expected to continue over the forecast
period. Factors such as premiumization will play a significant role
in the candle manufacturing segment to maintain its market
position. Also, our global industrial wax market report looks at
factors such as increased demand for industrial wax in coating
applications, increasing demand for industrial wax from the
personal care industry, and increasing industrial wax production
capacity. However, uncertainties such as a decline in demand of
group 1 base oil, equipment damage and negative impact of
industrial wax on the environment, growing preference for
fiberboard packaging may hamper the growth of the industrial wax
industry over the forecast period.
Read the full report:
https://www.reportlinker.com/p05796208/?utm_source=PRN
Global Industrial Wax Market: Overview
Increased demand for industrial wax from the personal care
industry
The cosmetics and personal care industry is witnessing substantial
growth worldwide because of the increase in consumer demand for
beautification and personal hygiene products. Industrial wax is
used in cosmetic and personal care product formulations to enhance
the viscosity and consistency of these products. Different types of
wax are used in different cosmetic products. With the increase in
demand for personal care products, many companies are coming
forward to supply wax to cater to the needs of the personal care
and cosmetics industry.
. This demand for industrial wax will lead to the expansion of the
global industrial wax market at a CAGR of over 3% during the
forecast period.
Industrial research and development activities
The growing applications for industrial wax have spurred the
R&D activities in the global industrial wax industry. Several
researchers are collaborating with companies that have hands-on
experience in offering quality waxes and are developing new
technologies to extend the areas of applications further. One such
R&D effort aims at creating high-performance wax for use in wax
3D printers. This development is expected to have a positive impact
on the overall market growth.
Competitive Landscape
With the presence of several major players, the global industrial
wax market is fragmented. This robust vendor analysis is designed
to help clients improve their market position, and in line with
this, this report provides a detailed analysis of several leading
industrial wax manufacturers, that include BASF SE, Exxon Mobil
Corp., Numaligarh Refinery Ltd., PJSC LUKOIL and Sasol Ltd.
Also, the industrial wax market analysis report includes
information on upcoming trends and challenges that will influence
market growth. This is to help companies strategize and leverage on
all forthcoming growth opportunities.
Read the full report:
https://www.reportlinker.com/p05796208/?utm_source=PRN
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