Ozokerite is a naturally occurring fossil wax found near soft shale or sedimentary rocks. Most of the Ozokerite used in commercial applications is mined in Eastern Europe. The Crude Ozokerite is black in color after mining; its color varies from yellow to white through refining. It hardens on aging and the hardness varies according to its original source and refinement. Ceresin is a white to yellow waxy mixture of hydrocarbons obtained by purification of Ozokerite at 70 oC.
Fossil based waxes has the largest share of the global industrial wax market. Fossil based waxes include mineral wax and petroleum wax, which are widely used for coating commercial products. Waxes such as Ozokerite, paraffin, microcrystalline wax, ceresin, and petrolatum, are vigorously used in the cosmetics industry, as they are considered extensively safe and are derived from the various processes of crude oil refining. Petroleum waxes have high gloss characteristics, which makes them most suitable ingredients for polishes, especially for the “paste” type which is commonly used on floors, furniture, cars, and footwear.
The major applications of Ozokerite falls in cosmetics and personal care products; these waxes are used in many types of products including baby product, lipsticks, mascara, and facial makeup, as well as skin care, nail care, sunscreen, fragrance, and non-coloring hair preparations.
The major driver for Ozokerite Wax market is a strong trend of R&D investments in Ozokerite Wax industries. Other growth drivers include the need to reduce the costs, strength of private brands and increased competition from players in Ozokerite Wax market.
The Global Ozokerite wax market has been segmented based on its production temperature type into <70 oC, 70-80 oC, 80-90 oC and >90 oC and by product type the market has segmented to natural and synthetic Ozokerite wax; By its major applications, Ozokerite wax market segmented into Cosmetics, Leather, Adhesives, Printing inks, Automobile and Others. This market has also been segmented by the following regions such as Asia Pacific, Europe, North America, Latin America and Middle East & Africa.
In 2015, the Asia-Pacific region accounted for the largest share of the global industrial wax market and is expected to grow at the highest rate from 2016 to 2026. China is currently the largest market in the Asia-Pacific region for fossil based wax and is expected to remain the largest market during the forecast period. India is the fastest-growing market for Ozokerite wax.
The key players in global Ozokerite wax market includes Frank B. Ross, IGI, Poth Hille, Nanyang Energy Chemical, M/S Bhakti Petrochem, Koster-wax, Koster Keune, Poth Hille, and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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