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Micronized Wax Market is expected to remain strong, with a CAGR of 4.0% over 2018-2028

These days, there are various scenarios those propagate different kinds of chemicals & materials market outlook, these are expected to increase the capital expenditure across variety of industries. Persistence Market Research digs deep into the chemicals’ vertical and give a holistic view regarding the same.

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. According to the National Candle Association (NCA), the United States represents a massive demand for candles, including candle accessories by U.S households. Growing population and consumers’ class in emerging as well as developing economies will support the demand of waxes/hydrocarbons.

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micronized wax market

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.

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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.

Micronized Wax Market: Vendor Insights

The report highlights some of the main companies that are operating in the global micronized wax market, such as BASF SE, The Lubrizol Corporation, Honeywell International Inc., Clariant AG, Shamrock Technologies Inc., Deutreon GmbH, Sasol, Micro Powders, Inc., Polyten Inc., Linvest GmbH, Ceronas GmbH & Co. KG, and Wezenbeek.

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