Press release
Demand for Compound Hydrocarbon Waxes Is Poised to Expand at Approximately 3% CAGR by 2031
Award-winning consulting firm Fact.MR has published a new report on the global hydrocarbon waxes market for the 2021-2031 forecast period. According to the study, the market is poised to surpass US$ 5 billion in revenue by 2031, expanding at a CAGR of around 3%. Growth is primarily underpinned by extensive uptake in the plastic additives and paints & coatings segments.Click Here to Get Complete Synopsis of this Report https://www.factmr.com/report/hydrocarbon-waxes-market
A key driver behind this increased uptake across the aforementioned segments is the rapid expansion of the global construction industry. Data from Oxford Economics suggests that global construction output shall surpass US$ 1 trillion by 2030, registering an astronomical 85% incline with China, India and the U.S contributing almost three-fifths of overall growth. As this trend becomes increasingly evident, key construction giants are leveraging high-grade plastics adoption, prompting increased usage of hydrocarbon waxes.
Hydrocarbon waxes enhance surface properties such as water repulsion, maintain coating appearance (gloss, matting, and texturing), improve rheology, and prevent pigment settling. The demand for paints and coatings is high in automotive and building & construction sectors, augmenting growth prospects. Furthermore, enhanced skin protection properties are providing a wide ground for expansion across the cosmetics & personal care industry as well.
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Key Market Segments Covered
Application
Hydrocarbon Waxes for Lubricating Adhesives
Hydrocarbon Waxes for Plastic Additives
Hydrocarbon Waxes for Rubber
Hydrocarbon Waxes for Paints & Coatings
Hydrocarbon Waxes for Metal working Fluids
Hydrocarbon Waxes for Other Applications
Region
North America
U.S
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
France
U.K
Italy
Spain
Russia & CIS
Rest of Europe
Asia Pacific
China
Japan
India
ASEAN
Rest of Asia Pacific
Middle East & Africa
GCC
South Africa
Rest of MEA
Speak to Research Analyst https://www.factmr.com/connectus/sample?flag=AE&rep_id=5972
Key Takeaways from Market Study
By application, plastic additive manufacturing to generate high demand for hydrocarbon waxes
Demand across the lubricating additives segment to acquire major traction over coming years
The U.S. to experience significant uptake across the paints & coatings and F&B packaging sectors
China to emerge as a dominant market in Asia amid surging infrastructure projects
India to emerge as a heavyweight in the rubber production & manufacturing category
“Prominent manufacturers are constantly innovating existing product offerings in hydrocarbon waxes, given their increasing scope and applicability across a broad range of end-use industries, providing adequate room for expansion,” says a Fact.MR analyst.
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Competitive Landscape
Major players profiled in Fact.MR’s market study include
Sasol Ltd.
ExxonMobil Corp.
Kerax Limited
Faith Industries Limited
Poth Hille & Company Limited
Strahl & Pitsch Inc.
Blended Waxes Inc.
Calwax LLC
Goyel Chemicals Corporation
Valan Wax Products Limited
Goyel Chemicals Corporation, a prominent Indian manufacturer, offers its range of hydrocarbon wax recommended for processing of RPVC pipes and conduits. These are effective alternatives to conventional oils and waxes which possess high volatility and heighten the risk of hazards
In March 2020, King Honor International Ltd. launched a new grade of Fischer-tropsch Wax for hot melt adhesives and PVC lubricants. This new grade of KH FT Wax 110 B has high congealing point and low oil content
For More Insights https://www.globalbankingandfinance.com/tier-1-basf-se-the-dow-chemical-company-players-are-expected-to-hold-nearly-50-share-of-the-coating-solvents/
More Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the hydrocarbon waxes market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of application (lubricating adhesives, plastic additives, rubber, paints & coatings, metalworking fluids, and others) across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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