Detergent and Cleaning Waxes Market: Highlights
- Detergents and cleaners are used to sterilize, remove dirt, adhered substances, and prevent the formation of mold. They are suitable for removing oil stains on floors, machinery, tools, as well as rainwater stains on exhaust walls and exhaust gas oil. Various types of detergents include liquid detergent, wax, and spray.
- Detergent and cleaning waxes are extensively utilized in residential and non-residential applications. They are employed as additives in cleaning solutions or detergents to enhance the gloss, matting effect, and hydrophobic properties or to modify surface properties such as anti-slip, mechanical resistance, etc.
- Oxidized polyethylene waxes, polyethylene wax, ethylene copolymer or homopolymer waxes, and polyether waxes are some of the primarily used waxes in detergent and cleaner formulations. Oxidized polyethylene waxes and ethylene copolymer or homopolymer waxes are pure waxes that are usually referred to as synthetic waxes in the industry. The different types of waxes vary from each other in terms of mechanical and physical properties. These waxes are commercially available in various forms. They are available as powder, granules, flakes, and micronized waxes, with optical appearance ranging from transparent to opaque.
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Key Drivers of Detergent and Cleaning Waxes Market
- Increased demand for wax detergents in homecare applications is expected to drive the detergent and cleaning waxes market during the forecast period. In home care applications, waxes are used to modify the surface properties. Waxes are the additive that is utilized for formulations in order to enhance the gloss or matting effect, enhance the hydrophobic property, or to modify the surface characteristics (anti-slip, mechanically resistance, etc.). They are ideal products for care applications where protection, polishing, or water-repellency is required.
Detergent and Cleaning Waxes Market: Application Segment
- Based on application, the global detergent and cleaning waxes market can be segmented into residential and non-residential
- The residential segment is projected to account for a significant share of the global detergent and cleaning waxes market during the forecast period. This is primarily because cleaner and detergent products are categorized as fast-moving consumer goods, which is a rapidly expanding industry. Moreover, these goods are required on a daily basis and the demand for these goods is more or less in direct proportion to the population.
- The non-residential application segment is expected to expand at a steady pace and offer significant opportunities during the forecast period
Detergent and Cleaning Waxes Market: Covid-19 Impact
- The COVID-19 pandemic has had a negative impact on the global economy. It has adversely affected various industrial sectors by hampering the supply chain. Purchase and consumption behavior have changed significantly across various sectors with months of consumer lockdown and closure of international supply chains and retail businesses. This has adversely impacted the global detergent and cleaning waxes market.
- Detergent and cleaning waxes are polymers. Decline in demand for crude oil, coupled with an unexpected increase in supply, led to a drop in prices and subsequent impact on prices for refined petroleum products and other downstream items. This, in turn, has restrained the detergent and cleaning waxes market globally.
Asia Pacific to be Key Region of Global Detergent and Cleaning Waxes Market
- In terms of region, the global detergent and cleaning waxes market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the U.S. is focused on promotion of investments in its end-use industries. This is estimated to boost the detergent and cleaning waxes market in the country.
- In terms of demand, Asia Pacific held a major share of the market in 2019, followed by North America and Europe. Asia Pacific is a highly lucrative market globally. The trend is expected to continue in the next few years. The detergent and cleaning waxes market in Asia Pacific is driven by expansion of the cleaning detergents & cleaning industry and strong economic growth in the region.
- The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. End-use industries in Mexico have been expanding at a steady pace. The market in the UAE is also expanding at a significant pace. This is projected to drive the demand for detergent and cleaning waxes in Latin America and Middle East & Africa, respectively, during the forecast period.
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Global Detergent and Cleaning Waxes Market: Research Scope
Key Manufacturers Operating in Market
The global detergent and cleaning waxes market was highly fragmented in 2019. Key manufacturers operating in the global detergent and cleaning waxes market include:
- American Cleaning Solutions
- The Dura Wax Company
- BASF SE
Global Detergent and Cleaning Waxes Market, by Product
- Copolymer or Homopolymer Waxes
- Polyether Waxes
- Polyethylene Wax
- Oxidized Polyethylene Wax
Global Detergent and Cleaning Waxes Market, by Application
- Car Wash
- Industrial Cleaning
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