Micronized Wax Market Sale, Supply, Applications and SWOT Analysis of Key Players Forecast to 2031

Micronized Wax Market 2022

Micronized Wax Market Segmented By Carnauba Natural Wax, Polyethylene Wax, Polypropylene Wax, PTFE, Polyamide, Fischer Tropsch Synthetic Wax with Adhesives, Paints and Coatings, Printing Inks, Plastics, Building Materials, Packaging, Tires and Rubbers Application

With a 4.0% CAGR, the global market for micronized wax is expected to grow specifically in the digital space and reach US$ 12.8 billion by 2022. Three game-changers would be the focus of the chemical vertical: improving wind turbine efficiency, recovering battery material, and bio-based polymers. Therefore, in the coming years, biochemistry would be the centre of the chemical vertical.

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Persistence Market Research delivers key insights on the global micronized wax market, in its latest report titled, 'Micronized wax Market: Global Industry Analysis 2013-2017 and Forecast 2018-2028'. The global demand for micronized wax is expected to remain strong, with a CAGR of 4.0% over 2018-2028.

The National Candle Association (NCA) reports that American homes have a significant demand for candles and candle accessories in the United States. The demand for waxes and hydrocarbons in emerging as well as developing nations will be supported by rising population and consumer class.

Additionally, developing countries' transportation sectors will account for the majority of the consumption growth. Globalization, industrialisation, and changing lifestyles are driving the rising need for hydrocarbons. As a result, it is anticipated that the global market for micronized wax will expand significantly during the forecast period.

Additionally, during the projected period, the packaging industry will have considerable growth potential due to the expanding transportation and trade of packaged foods. To preserve the lengthy shelf life of fruits and foods, coatings, contact adhesives, and impregnations are made from hard paraffin and micronized wax combinations with polymers and resins.

Fruits and food grains are shielded from moisture by micronized wax, which keeps them secure and fresh for a longer period of time. The increased demand from the food packaging industry is thus anticipated to raise the demand for micronized wax in the upcoming years.

Key Companies-

• BASF SE
• The Lubrizol Corporation
• Honeywell International Inc.
• Clariant AG
• Sasol
• Shamrock Technolgies Inc.
• Deuteron GmbH
• Micro Powders Inc.
• Ceronas GmbH & Co. KG
• Polyten Inc.
• Linvest GmbH
• Weezenbeek

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Micronized Wax Market: Segmentation Analysis

Micronized Wax Market Analysis by Product Type

On the basis of product type, the micronized wax market is segmented into natural wax and synthetic wax. Synthetic wax can be further divided into polyethylene wax, polypropylene wax, polyamide, polytetrafluoroethylene wax, and Fischer-Tropsch wax.

Natural wax includes carnauba wax, and other types of waxes such as beeswax and micronized sugarcane wax. Leading players in the market provide almost all the products for micronized wax to various end users. Synthetic wax is projected to be one of the most lucrative segments throughout the forecast period.

Micronized Wax Market Analysis by Application

On the basis of application, the micronized wax market is segmented into adhesives, paints and coatings, printing inks, plastics, building material, packaging, and tires & rubbers. The market for paints & coatings is growing at a steady pace, in light of the increasing demand from the building & construction and automotive sectors, primarily.

Protective coatings are playing a key role in the finishing processes of a large number of consumer and industrial products, imparting surface protection against scratches, impact resistance, corrosion protection, and improved appearance characteristics. The adhesives segment is anticipated to be a major factor driving the demand for micronized wax over the forecast period.

There has been a decent rise in the use of micronized wax-based adhesives, owing to their excellent stability, strength, and resistance. Such factors are expected to significantly boost the growth of the global micronized wax market during the forecast period.

Micronized Wax Market Analysis by Region

From a regional perspective, Europe is estimated to account for a dominant market share in the global micronized wax market, owing to the positive outlook for adhesives, and paints & coating applications. Europe is projected to hold a share of ~24.0% in the global micronized wax market during the forecast period.

The market in China is anticipated to expand at a relatively higher growth rate, owing to the increasing demand for paints and coatings, and adhesives, for the development of new infrastructure and buildings, and from the automotive industry, among others, which, in turn, is projected to drive the demand for micronized wax. The micronized wax market in China is expected to be the most lucrative market, and is projected to grow at a CAGR of 4.9% during the forecast period.

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Key Questions Answered in the Micronized Wax Market Report

• How is the Micronized Wax market expected to grow over the projected period?
• What direction is the Micronized Wax market expected to take in terms of volume and value during the forecast period?
• What is the impact of macroeconomic factors on the Micronized Wax market in future?
• What are the key market drivers in the Micronized Wax market?
• What are significant opportunities and improvement areas for Micronized Wax manufacturers?
• What are the key developments and trends taking over the Micronized Wax market?
• Which are the emerging countries that are expected to create significant growth opportunities in the Micronized Wax market?

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