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Global Wax Emulsion Market Insight2022-02-10 Comments
The Wax Emulsion is forecast to fast increase over the next few years.According to the WK-chem Research “Global Wax Emulsion Professional Survey Report 2022, Forecast to 2027″, Wax emulsion is a mixture of one or more waxes (oil base) in water. Waxes are usually immiscible with water, and therefore, to make them miscible, surfactants are added. Waxes have a significant impact on several formulations and processes. It offers lubrication along with abrasion resistance, anti-blocking, matting, and water repellency properties to the resulting product. This leads to its wide applications in paints & coatings, adhesives & sealants, cosmetics, textiles, and others. The sources of waxes can be natural or synthetic, natural waxes includes beeswax (animal-based) and carnauba (vegetable based); and artificial waxes include paraffin wax, amide wax, polyethylene wax, polypropylene wax, and montan wax, among others.The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.9 % base on WK-chem Research regression analysis model.
” Wax Emulsion has a high market saturation and it is difficult for new manufacturers to enter the market. It is suggested that manufacturers can vigorously develop and research new technologies to achieve the purpose of expanding the market, and can also gain a firm foothold in the market and expand market share through strategies such as mergers and acquisitions.” Said Lisa , Senior analyst, Chemical industry Market Research Center in WK-chem Research.
The significant growth of the paints and coatings industry across the globe is likely to be fueling the growth of the global wax emulsion market, as the wax emulsion is finding increasing use in the paints & coatings formulations in place of solvents, which is globally considered to be high in volatile organic content (VOC). Additionally, wax emulsion finds vast usage in textile manufacturing as an additive to impart smoothness to the yarn, thread, and eventually fabric; reduce the breakage rate of yarn by providing lubrication; improves strength during knitting fabric; and serves as a protective agent for anti-wrinkling and free finishing fiber woven fabrics, among others. The growth of the global textile industry due to rising consumer purchasing power and changing lifestyle is further driving the growth of the global wax emulsion market. The absence of any close substitute to the wax emulsion is also boosting the growth of the product market. Furthermore, the widening application sc ope of wax emulsion in the cosmetics and personal care products is expected to provide growth impetus to the players operating in the global wax emulsion market during the forecast period.
The major market restraints for the wax emulsion market are the availability and price volatility of the raw materials used to produce the wax emulsion. The price of wax emulsions is entirely dependent on the availability of raw materials, and in the case of fossil fuel raw materials, prices tend to change. In addition, the high price associated with this product has hindered the market for wax emulsions. However, factors such as volatility in crude oil prices may restrict market growth during the forecast period.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Wax Emulsion companies that include Kemie Industries, The Darent Wax Company Ltd., BASF SE, Altana AG, Sasol Ltd., The Dow Chemical Company, Exxon Mobil Corporation, Nippon Seiro Co., Ltd, Michelman Inc., Danquinsa GmbH, Clariant, HRD Corporation and others.
Segmentation of Wax Emulsion Market:
On the basis of metal type, the market has been segmented into Polyethylene, Polypropylene, Paraffin, Carnauba, Others. Polyethylene wax account for the major market share. Polyethylene wax emulsion was the most widely used type of product due to its economical price and easy availability. This segment is expected to witness the fastest growth during the forecast period. This growth is attributed mainly to the rising construction activities in emerging economies and the absence of close substitute for wax emulsion. Physical attributes such as water-repellence, abrasion resistance, slip control, lubrication, and anti-blocking are also contributing to the growth of polyethylene as the most preferred material for wax emulsion.Based on Application, the global Wax Emulsions market has been segmented into Paints & Coatings, Adhesives & Sealants, Cosmetics, Textiles. Paints & coatings contributed to the largest market share. Properties such as ease of use, physical stability, and environment-friendly have led to the popularity of wax emulsions in the paints & coatings industry instead of solvents. However, the textiles segment is expected to grow at the highest rate during the forecast period. Improved tear resistance, fabric softening, heat setting, reduced needle cutting are some of the added benefits of using wax emulsion in textiles.
Wax Emulsion Market: Regional Analysis
In terms of geography, the Global Wax Emulsion Market is classified into Asia Pacific, North America, Europe, Middle East & Africa, and South America. The wax emulsion market in Asia Pacific is anticipated to grow at the highest CAGR .China, Japan, and India together accounted for the lion’s share of the Asia Pacific wax emulsion market. The increasing demand from the industries such as paints & coatings and adhesives & sealants is likely to trigger the growth in wax emulsion market. Easy availability and cost-effective labor are driving the demand for wax emulsions.
Cagr: 4.9 %
Largest share area：Asia Pacific
Largest share country：China
Product Type：Polyethylene, Polypropylene, Paraffin, Carnauba, Others.
Application：Paints & Coatings, Adhesives & Sealants, Cosmetics, Textiles
Leading Company：Kemie Industries, The Darent Wax Company Ltd., BASF SE, Altana AG, Sasol Ltd., The Dow Chemical Company