Global Waxes for Detergents and Cleaners Market: Overview
Waxes for detergents and cleaners are materials that are usually employed in surface cleaning solutions as surface modifiers. 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 available in various forms on a commercial scale. They are available as powder, granules, flakes, and micronized waxes, with optical appearance from transparent to opaque. The choice of form typically depends on the type of application it is to be utilized for. Waxes are solids at ambient temperatures, and with variation in temperature, they change form from soft to plastic, brittle, and hard. The melting point of waxes is usually above 40°C. They exhibit low viscosity values above the melting point. Wax emulsions are also utilized for the same purpose as that of waxes. The major difference between the two is that waxes are solids, whereas emulsions are liquids and are primarily used with water-based formulations to improve surface properties. Detergents and cleaners these days are widely used for cleaning purposes in a wide range of applications such as automotive polish, shoe polish, leather polish, textile finish, furniture polishes, etc.
Global Waxes for Detergents and Cleaners Market: Key Segments
Based on end-use, the waxes for detergents and cleaners market can be segmented into domestic use and professional use. Currently, the domestic use segment dominates the market and is anticipated to continue its dominance during the forecast period. The domestic use segment is anticipated to expand at a significant CAGR during the forecast period. This is primarily because cleaner and detergent products come under the category of fast moving consumer goods, which is a rapidly expanding industry. Moreover, these goods are among the basic goods that an individual requires on a daily basis and are more or less in direct proportion to the population.
In terms of product, the waxes for detergents and cleaners market can be categorized into ethylene copolymer or homopolymer waxes, polyether waxes, polyethylene wax, oxidized polyethylene wax, and others product types. The polyethylene wax and oxidized polyethylene wax segments can be further segmented into soft, hard, micronized, and other types. Currently, the waxes for detergents and cleaners market is dominated by the polyethylene wax segment, which is anticipated to expand at a significant rate during the forecast period. Polyethylene wax is used in various cleaning and detergent formulations such as floor polishing, shoe polishing, car polishing, leather polishes, automobiles polishes, etc.. Polyethylene wax provides superior buffability. Moreover, it helps in making coatings and surfaces more hydrophobic and can be emulsified without the use of surfactants.
In terms of geography, the waxes for detergents and cleaners market is dominated by Asia Pacific, especially in the domestic use consumer goods sector. Rise in population and increasing awareness about sanitation, cleanliness, and hygiene are some of the major factors contributing to the expansion of the waxes for detergents and cleaners market in the region. Asia Pacific is anticipated to continue its dominance and expand at a significant rate during the forecast period.
Global Waxes for Detergents and Cleaners Market: Key Players
Key players operating in the waxes for detergents and cleaners market include American Cleaning Solutions, The Dura Wax Company, BHC, Inc., and Simoniz USA.
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
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
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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