Mineral Waxes Market

Mineral Waxes Market: Outlook

The mineral waxes market may observe steady growth across the forecast period of 2020-2030 on the back of the increasing utilization of mineral waxes in a large number of end-uses. These waxes are prominently used as thickening agents. They thicken the oil portion of the product and also reduce the brittleness of products such as deodorants and lipsticks.

The properties of some types of mineral waxes such as scuff resistance and high water repellency may bring exponential growth opportunities for the mineral waxes market during the tenure of 2020-2030. These waxes are significantly used across applications in paper, mining, scientific research, electronics, medical, and others. On the basis of type, the global mineral waxes market can be classified into ozokerite, montan waxes, peat waxes, and ceresin waxes.

 Montan wax is also known as lignite wax or OP wax and is obtained by the solvent extraction of certain categories of brown or lignite coal. Ozokerite is odorless and is a type of mineral wax comprising hydrocarbons and is obtained from veins in sandstones. Peat wax is a dark waxy substance and is extracted from peat through organic solvents. Ceresin is a mixture of hydrocarbons and is derived from ozokerite.

The mineral waxes market report helps the stakeholder to overcome the barriers of information and offers a detailed analysis of a plethora of segments such as competitive analysis, regional prospects, latest trends, and key growth drivers. The report generates awareness of the current market scenario and enables the stakeholders and CXOs to chalk out their business strategies accordingly.

The report also makes the stakeholders aware of the impact of the COVID-19 pandemic and the threats that have the potential to dent the market prospects. The exhaustive study conducted by the analysts also sheds light on the threats and challenges that the mineral waxes market may face during the assessment period.

Mineral Waxes Market: Competitive Analysis

The mineral waxes market is highly fragmented. It comprises players involved in intense competition for gaining a prominent place among others. The players are also involved in expansion activities that help in smoothly catering to the demand of the end-users.

The players are also involved in mergers, acquisitions, joint ventures, collaborations, and partnerships. These activities help the players in the mineral waxes market to cement their foothold. This factor eventually leads to promising growth prospects for the mineral waxes market.

Some well-entrenched players in the mineral waxes market are Yunan Shangcheng Biotechnology, Koster-wax, M/S Bhakti Petrochem, Poth Hille, Clariant, VOLPKER, Frank B. Ross, and ROMONTA.

Mineral Waxes Market: COVID-19 Impact

The novel coronavirus outbreak has led to immense losses across the world with high transmission and fatalities. The pandemic has affected businesses and sectors greatly. To control the transmission, governments of various countries imposed strict lockdown restrictions. All the manufacturing units were shut. This factor caused a decline in production and demand. The mineral waxes market has suffered a short-term loss due to the outbreak.

However, many countries have relaxed the lockdown norms to bring the economy back on track. Therefore, this is a great opportunity for the players in the mineral waxes market to revive the lost growth. 

Mineral Waxes Market: Regional Prospects

Asia Pacific may gain good growth across the forecast period of 2020-2030. Densely populated countries like India and China may invite immense growth prospects for the mineral waxes market in Asia Pacific. North America may emerge as a significant growth-generating region after Asia Pacific. The increasing demand for cosmetic products across a considerable chunk of the populace may bring exponential growth for the mineral waxes market in North America.