Global Prescription Dermatology Therapeutics Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Prescription Dermatology Therapeutics Market 2021 (Includes Business Impact of COVID-19)
Global Industrial Wax Marketis the title of a report in the process of production at Trusted Business Insights. In-depth insights, revenue details, and other vital information related to the market, along with various trends, drivers, restraints, opportunities, and threats have been included in the respective sections of the report. The key players operating in the target market have been profiled and competitive landscaper provided. Their respective revenue and financials, key developments, strategies, acquisitions & mergers, and market footprint are other factors that have been included. The global industrial wax market report has been segmented on the basis of type, application, and region.
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The global Prescription Dermatology Therapeutics market size was valued at USD $31.61 billion in 2020 and is projected to reach USD $69.09 billion by 2030, and is anticipated to expand at a CAGR of 7.65% over the forecast period from 2020 to 2030.


Global Industrial Wax Market: Overview


Industrial wax is an organic compound that consists of long alkyl chains and are malleable, lipophilic solids at normal ambient temperature. These waxes are used in various industrial applications such as formulation of colorants for plastics, matting effects, and imparts wear-resistance to paints, act as slip agents in furniture, etc. Natural industrial waxes consist of unsaturated bonds including functional groups; whereas synthetic industrial waxes consist of homologous series of long chain aliphatic hydrocarbons.


Global Industrial Wax Market: Dynamics


Increasing demand for industrial wax for a range of applications such as candles, packaging materials, tires & rubber, cosmetics & personal care, food, and others, is a major factor expected to drive growth of the global industrial wax market. Increasing uses of synthetic wax, especially paraffin wax in cosmetics, medical products, food, and other applications owing to it being highly moisture resistant, and for its malleability, lubrication, and therapeutic properties. Moreover, rising demand for bio-based waxes in various applications for sustainable and degradable end products is projected to support market growth.

However, increasing raw material prices, coupled with rising crude oil prices are expected to be major factors that can restrain growth of the target market. In addition, declining use of fossil-based wax in the packaging industry is expected to hamper growth of the target market.

Increasing adoption of unconventional waxes among various end-use industries in developing countries and development of new and cost-effective products are among some other factors anticipated to create lucrative opportunities for prominent players, and is expected to positively augment growth of the target market.


Global Industrial Wax Market: Segment Analysis


By Type:

Among the type segments, the synthetic-based waxes segment is projected to register significantly high revenue share in the global market, owing to increasing demand for these waxes in cosmetics & personal care applications.

By Application:

Among the application segments, the candles segment is expected to account for highest revenue share in the target market, owing to its good calorific value.


Global Industrial Wax Market: Regional Analysis


The market in Asia Pacific is expected to account for significantly high revenue share, and projected to dominate among other regions in the global industrial wax market over the forecast period. This projected dominance is attributable to rapid industrialization, coupled with increasing cosmetics & personal care product demand, and growing and expanding automotive, construction, and other industries in countries in this region. Revenue from the Asia Pacific market is expected to register a significant growth rate, owing to increasing R&D activities and increasing investments by governments and manufacturers in various industries. The North America industrial wax market is projected to register moderate revenue share in the global market, followed by Europe. This can be attributed to rising demand for industrial wax in various applications such as cosmetics, coatings & polishing, and others in countries in the region.

Global Industrial Wax Market Segmentation:

Segmentation by Type:

  
Fossil-based Waxes
  
Synthetic-based Waxes
  
Bio-based Waxes

Segmentation by Application:

  
Candles
  
Packaging
  
Coatings & Polishing
  
Hot Melt Adhesive
  
Tires & Rubber
  
Cosmetics & Personal Care
  
Food
  
Others (Agriculture and Printing Inks)


Key Market Players included in the report:


  
Asian Oil Company
  
BP South Africa (Pty) Ltd.
  
Calumet Specialty Products Partners, L.P.
  
CEPSA
  
Cirebelle Fine Chemicals (Pty) Limited
  
H & R South Africa (Pty) Ltd
  
HollyFrontier Refining & Marketing LLC
  
Iberceras Specialties S.L.U.
  
Indian Oil Corporation Ltd
  
Kerax Limited
  
Koster Keunen
  
Matchem – Specialty Waxes & Inspired Blends
  
MOL Group
  
Nippon Seiro Co., Ltd.
  
Royal Dutch Shell plc.
  
Sasol
  
Sonneborn LLC
  
The Blayson Group Ltd
  
The Darent Wax Company Ltd.
  
The International Group, Inc.


Below are the key development related to Industrial Wax Market in 2020 and 2021.


August 2020: DKSH exclusively partners with Sasol Chemicals in Germany, Spain, Portugal and the United Kingdom. DKSH has entered into an exclusive distribution agreement with the Wax Division of Sasol Chemicals, a leading specialist in innovative wax technology, for four key markets in Europe. DKSH’s Business Unit Performance Materials and Sasol have entered into an exclusive distribution agreement for DKSH to provide sales and marketing, distribution and logistics for Sasol Chemical’s wax products for the inks, paints and coating industries in Germany, Spain, Portugal and the United Kingdom. The agreement covers Sasol’s full portfolio of waxes, including paraffin waxes, wax emulsions and microcrystalline waxes. The products are used in a diverse range of applications including paint (powder; wood; industrial solventborne and waterborne; anti-corrosion; automotive OEM (original equipment manufacturer), refinish and KTL (electrodeposition coating); and interior and external wood building), coating (glass, UV, paper, can and coil, film, sealant and carpet baking) and all kinds of ink. Source

March 2020: Calumet Specialty Products Partners, L.P. Acquires Paralogics, LLC, Expands Specialty Wax Business. Paralogics, LLC acquisition strengthens wax blending, packaging and distribution capability. Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT)  a leading independent producer of specialty hydrocarbon and fuels products, announced acquisition of Paralogics, LLC, a producer of candle and industrial wax blends. Paralogics expands Calumets presence in the specialty wax blending and packaging market, and upon integrating the new capabilities into Calumets existing wax business value chain, will add 20 million pounds of annual blending and formulating capabilities. Source