The consistent growth witnessed in the cosmetics, pharmaceuticals, electronics, and automobile industry has upheld the demand for microcrystalline wax. The growing per capita income and urban population in developing nations will help maintain the momentum in the global microcrystalline wax market.
One of the three natural forms of wax derived from petroleum refining, microcrystalline wax is a mixture of solid and saturated hydrocarbons. An upcoming Transparency Market Research report offers emerging and established players with first-hand information about the global microcrystalline wax market. It gives detailed insights on the market’s overview, size, share, key trends, regional analysis, major competitors, and forecast for 2018-2026.
Global Microcrystalline Wax Market: Key Trends
The global microcrystalline wax market is witnessing numerous positive trends. Microcrystalline wax possesses higher meting point, molecular weight, density, and viscosity along with better elasticity than paraffin wax. Due to this, it finds applications in the adhesives, automobile, cosmetics, food packaging, pharmaceuticals, jewelry, rubber, and sports equipment industries.
The product optimizes the flow and viscosity of adhesives, and enhances their thermal stability, crystallization rates, and bond strength. These adhesives are used in construction, footwear, food packaging, and automobiles. Additionally, the product’s adhesive properties makes it ideal to reduce friction in ice hockey sticks and snowboards. The growing popularity of ice hockey and other winter sports will provide a major boost for the global microcrystalline wax market.
Further, microcrystalline wax’s excellent binding property provides dimensional stability to metals during their casting. This drives its demand in the automobile industry. It is also used in manufacturing tires.
In the pharmaceutical and personal care industry, it is used in lipsticks, cold creams, and ointments. Microcrystalline wax’s abilities to carry medication and pigments, lubricate, and provide protection from moisture makes it a natural base for these products.
Besides the above factors, the growing fondness among people for artificial jewelry and scented candles will also drive the global microcrystalline wax market.
While there are numerous drivers for the global microcrystalline wax market, substitutes to wax and volatile petroleum prices are its major challenges.
Global Microcrystalline Wax Market: Regional Analysis
The global microcrystalline wax market can be segmented into Asia Pacific, North America, Europe, and the Rest of the World. Asia Pacific has been leading the global microcrystalline market so far, and is projected to remain the frontrunner in the estimated period. Changing lifestyles and increasing attention towards health and personal care in developing nations are driving the market in this region. North America and Europe are expected to maintain the growth momentum in the coming years. Brazil, another developing nation in South America, is projected to acquire significant market share.
Global Microcrystalline Wax Market: Competitive Dynamics
A few prominent players in the global microcrystalline wax market are Koster Keunen Inc., Sonneborn, Shell Group, Strahl & Pitsch Inc, and Alfa Chemical Ltd., among others. Existing players in the food packaging, automobiles, and pharmaceuticals industry are identifying ways to manufacture their own microcrystalline wax. This would reduce their dependency on manufacturers.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.