Micronized Wax Market Pipeline Overview 2017 - 2025
Use of micronized waxes imparts properties such as abrasion resistance, slip resistance, and control of rheology, among others. Micronized waxes are being widely used across a wide range of applications such as paints & coatings, printing inks, adhesives & sealants, and plastics processing, among others. The manufacturers are providing wide range of micronized waxes for different type of coatings such as UV, coil, and wood, among others. The overall market is anticipated to show moderate growth over the forecast period.
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Global Micronized Wax Market: Dynamics
The significant growth in the major end use industries such as paints, coatings and inks industry will drive the demand for micronized waxes. Waxes are used for a number of paints and coatings applications such as coil coatings, wood, powder, etc. The use of micronized waxes offers several benefits such as scratch resistance, reduced static and dynamic friction, matt finish, dirt repellence, release agent properties etc. Use of micronized waxes in certain applications also helps avail significant cost efficiencies. The growing demand for paints and coatings in automotive, construction and other industries is anticipated to drive significant opportunities in the global micronized wax market. With the growing consumer preference for aesthetics and visual appeal, there has been a rising demand to enhance the surface properties of materials, paints, coatings, plastics etc. The shine and finish of paints, coatings etc. differ based on the type of application such as wood, powder, coil.
The major challenge faced by the global micronized wax market is the compatibility of waxes with various solvents. In some cases, the consistency of the solution is affected by use of micronized waxes. This, thus restricts adoption of such products in certain applications.
One of the recent trends observed in global micronized wax market is that the manufacturers have channelized efforts towards offering tailor made blends for specific applications. The manufacturers are using this as a differentiating strategy in order to gain an edge over the other players in the global micronized wax market. The manufacturers are also focusing on introducing application specific micronized waxes which help improve resistance properties and durability of the end products.
Global Micronized Wax Market: Segmentation
The global Micronized Wax market can be segmented based on product type, source and region.
On the basis of source, the global micronized wax market can be segmented as:
On the basis of product type, the global micronized wax market can be segmented as:
On the basis of application, the global micronized wax market can be segmented as:
Paints and coatings
Global Micronized Wax Market: Regional Outlook
The global micronized wax market is dominated by the Asia Pacific region with China leading the Asia Pacific micronized wax market both in terms of production and consumption. This is attributed to the large customer base for paints, coatings and printing industry in the region and the rising polymer production which requires wax for surface finishes. North America and Europe are also projected to hold significant share in the global micronized waxes market. The region has witnessed a rising demand for micronized waxes for powder coatings application. Regions such as Latin America and Middle East and Africa are anticipated to be low volume high growth regions and are anticipated to expand significantly over the forecast period. Japan is anticipated to witness relatively sluggish growth over the forecast period.
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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
Sasol Wax International AG
Honeywell International Inc.
Micro Powders, Inc.
Shamrock Technologies Inc.
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