FT Wax Market (Covid19 Impact) 2020: Industry Growth, Competitive Analysis, Future Prospects and Forecast 2025 | Top Key Players are Sasol, Shell, DEUREX AG, Evonik Industries AG
FT wax market share will experience a significant growth owing to increasing demand for the product for its properties as an additive in paints, varnishes, coatings formulation and printing ink. The product is known to have much better functionality under higher temperature which encourages the demand and sale across a host of other applications.
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Speaking on the application terms, FT wax market is expected to garner positive outlook across myriad industries like the construction, automotive, and packaging leading to the high climb in the industry trends. Simultaneously, expansive product applications for polymer processing and asphalt manufacturing are estimated to establish new avenues for the industry contenders. According to the industry analysts, polymers and plastics market in 2017 valued nearly USD 600 billion in terms of revenue.
Rampant growth in the automobile and of the resin processing sectors coupled drive steady growth in the North America FT wax market. The U.S. is often considered as a major market contributor owing to mounting crude oil demand & supply gap and positive federal policies geared towards manufacturing synthetic waxes within the nation.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
3. DEUREX AG
4. Evonik Industries AG
5. Nippon Seiro Co. Ltd
6. Nanyang Saier
7. KPL International Ltd
8. King Honor International
10. Yi Mei New Material Tech Co., Ltd.
11. TER HELL & Co. GmbH
13. Industrial Raw Materials LLC
14. Globalwax LLC
Major factors in the FT wax market that have helped fuel the application scope in the paint industry are few important benefits of the product such as superior gloss retention, scratch resistance, VOC emissions, high-quality finish and durability. The micronisation technology that is used in the production process provides the distribution of sharp particle which helps keep the formulation of paint with improved consistency.
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FT wax market trends are exclusively driven by the deployment of gas to liquid technology for the manufacturing process across industries. The technology makes use of carbon monoxide and hydrocarbons paired with natural gas to produce syngas.
The product is being widely used in the manufacturing of asphalt and polymer processing which will help the industry players to explore an array of opportunities. Major properties like low viscosity and liner structure of the product will encourage its demand in the polymer processing industry. Moreover, there is a major inclination towards using materials that are environment-friendly with non-cumulative effects and inherent biodegradability which in turn will drive FT wax market outlook.
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