Waxes are often industrially utilized for coatings, as components of complex formulations. Waxes imparts paints with matting effects and wear resistance. Waxes are used as finishes and coatings for wooden products. Waxes are soluble in organic, non-polar solvents. These are mostly used in making candles. Waxes find numerous applications in cosmetic industry where these are utilized in making lipsticks, mascara, and others, being a natural ingredient.
MARKET DYNAMICS
The wax market is likely to witness growth during the forecast period owing to the high demand from cosmetic industry as a natural ingredient. Moreover, growing trend of scented luxury candles for decorative purposes further propel the market growth. Another major factor driving the growth of wax market is a shifting focus towards synthetic and vegetable waxes. However, discontinuation and closure of Group I base oil refineries hampers the market growth. On the other hand, growing usage of GTL refineries and use of mineral wax in rubber production provide significant opportunities to major market players during the forecast period.
MARKET SCOPE
The "Global Wax Market Analysis to 2028" is a specialized and in-depth study of the chemical and material industry with a special focus on the global market trend analysis. The report aims to provide an overview of wax market with detailed market segmentation by type, end user industry and geography. The global wax market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading wax market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global wax market is segmented on the basis of type and end user industry. Based on type, the market is segmented as petroleum & mineral wax, synthetic wax and natural wax. The petroleum & mineral wax is further segmented as paraffin, microcrystalline wax, and others. Synthetic wax market is sub segmented as polymer wax, GTL wax and others. Natural wax market is sub segmented into vegetable wax, animal and insect wax. On the basis of the end user industry the market is segmented as cosmetic, packaging, candle making, and others.
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REGIONAL FRAMEWORKThe report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global wax market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The wax market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting wax market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the wax market in these regions.
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MARKET PLAYERSThe reports cover key developments in the wax market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from wax market are anticipated to lucrative growth opportunities in the future with the rising demand for wax in the global market. Below mentioned is the list of few companies engaged in the wax market.
The report also includes the profiles of key wax companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
-BP p.l.c.
-Calumet Specialty Products Partners, L.P.
-Exxon Mobil Corporation
-H&R GROUP
-Ilumina Wax doo
-MARATHON OIL COMPANY
-naftowax.pl
-Petrobras
-Royal Dutch Shell Plc
-The International Group, Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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