DUBLIN--(BUSINESS WIRE)--The "Wax Emulsion Market by Material Base (Synthetic, Natural), Type (PE, PP, Paraffin, Carnauba), End-use Industry (Paints & Coatings, Adhesives & Sealants, Cosmetics, Textiles), Region (APAC, North America, Europe, MEA, SA) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The wax emulsion market is projected to grow from USD 1,573 million in 2019 to USD 1,995 million by 2024, at a CAGR of 4.9% from 2019 to 2024.
The market in this study has been segmented based on material base, type, end-use industry, and region. Based on end-use industry, the wax emulsion market has been classified into paints & coatings, adhesives & sealants, cosmetics, textiles, and others (automotive, packaging, and leather). The major types of wax emulsions include polyethylene, polypropylene, paraffin, carnauba, and others. Among these types, the polyethylene segment accounted for the largest share of 28.6% of the wax emulsion market, in terms of volume, in 2018.
The growth of this segment can be attributed to its low cost, abundant availability, and ease of manufacturing. Moreover, polyethylene has a high coefficient of friction, possesses mar and abrasion resistance, and provides gloss to the final product. These features and advantages have contributed to a wider application of polyethylene-based wax emulsions in paints, floor polishes, metalworking, printing inks, packaging films, wood finishes, anti-blocking, mold releases, and textile finishing, among others.
Key players operating in this market are undertaking initiatives to capture a significant market share and address the increasing demand for wax emulsions from various end-use industries. Acquisitions, expansion and new product developments/launch are the three main growth strategies adopted by leading players in the wax emulsion market.
- No Close Substitute
- Growth of End-Use Industries
- Fluctuations in the Crude Oil Prices
- Increasing Demand for Bio-Based Wax Emulsion
- Limited Investments in New Product Development
- Lack of Knowledge for Chemistry of Wax Emulsion
- Altana AG
- BASF SE
- Danquinsa GmbH
- Exxon Mobil Corporation
- Lubrizol Corporation
- Michelman, Inc.
- Nippon Seiro Co., Ltd.
- Sasol Ltd.
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