Global Wax Emulsion Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Wax Emulsion Market 2021 (Includes Business Impact of COVID-19)
Global Wax Emulsion Market Insights, Key Trends, Revenue Analysis, Growth Forecast to 2028 is an upcoming report created by research team of Trusted Business Insights. the target market is expected to grow at a substantial growth rate in the 10-year study period. The global wax emulsion market has been divided on the basis of type, material base, end-use industry, and region & country.
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The global Wax Emulsion market size was valued at USD $1.68 billion in 2020 and is projected to reach $2.71 billion by 2030, and is anticipated to expand at a CAGR of 4.90% over the forecast period from 2020 to 2030.


Wax Emulsion: An Overview


Wax emulsion is a mixture of water and waxes along with surfactants. Surfactant is used to maintain stability by mixing the two immiscible substances, that is water and waxes. Wax emulsions are used in various technical applications such as leather and textiles, metal, paper, glass fiber sizing, wood, printing inks & lacquers, glass bottle protection, and others.

Natural wax emulsions are used for crop protection, coating fruits, and candies, ointments, etc. and synthetic wax emulsions are often used for packaging of food. Wax emulsion has properties such as corrosion protection, abrasion & rub resistance, and anti-blocking.


Global Wax Emulsion Market: Dynamics


Increasing demand for wax emulsion from various end-use industries such as adhesives & sealants, paints & coatings, textiles, cosmetics, and others, owing to its properties such as abrasion resistant, ease of use, anti-blocking, is a major factor expected to drive growth of the target market. In addition, increasing use of paraffin wax emulsion in packaging and food applications such as special decorative paper and cardboard boxes to transport food, manufacturing of bottle corks, and others. This is another factor expected to propel growth of the potential market in years to come. Moreover, rising demand for wax emulsion in wood industry for finishing and treatment of wood as it increases the physical stability and durability is among some other factors estimated to fuel growth of the target market.

However, increasing crude oil prices is expected to be a major factor that could restrain growth of the global wax emulsion market. In addition, regulations on use of wax emulsion in coating, packaging, and food applications is expected to be another factor hampering growth of the target market.

Increasing adoption of natural wax emulsion, development of innovative and cost-effective products, and growing demand from various end-use industries in developing countries are among some other factors anticipated to create opportunities for the manufacturers and are expected to augment growth of the target market.


Global Wax Emulsion Market: Segment Analysis


By Type:

Among the type segments, the polyethylene segment is expected to account for major revenue share in the target market. This is attributable to increasing demand for paints & coatings, coupled with growing construction activities in developed and developing countries.

By Material Base:

Among the material base segments, the synthetic segment is expected to witness highest revenue growth rate in the next 10 years in the global market.

By End-use Industry:

Among the end-use industry segments, the paints & coatings segment is projected to register highest revenue growth rate in the global market. High adoption of wax emulsion owing to its properties such as eco-friendly nature, physical stability, easy use, and others is a major factor driving revenue growth of the segment in the global market.


Global Wax Emulsion Market: Regional Analysis


The Asia Pacific wax emulsion market is estimated to account for maximum revenue share and is expected to dominate in the global market over the forecast period. Rapid urbanization and industrialization, coupled with growing automotive and construction sectors in countries such as China and India are some of the major factors expected to support revenue growth of the market in the region. In addition, growing demand for wax emulsion in textile industry is expected to drive revenue growth of the Asia Pacific market. The market in North America is anticipated to account for considerable revenue share in the global wax emulsion market.

Global Wax Emulsion Market Segmentation:

Segmentation by Type:

  
Polyethylene
  
Paraffin
  
Polypropylene
  
Carnauba
  
Others (Polyamide, Jojoba, Candelilla, etc.)

Segmentation by Material Base:

  
Synthetic
  
Natural

Segmentation by End-use Industry:

  
Paints & Coatings
  
Adhesives & Sealants
  
Cosmetics
  
Textiles
  
Others (Packaging, Additives, etc.)


Key Market Players included in the report:


  
Altana AG (Germany)
  
BASF SE (Germany)
  
Clariant
  
Danquinsa GmbH (Germany)
  
DowDuPont (US)
  
Exxon Mobil Corporation (US)
  
H&R GROUP (Germany)
  
Hexion Inc. (US)
  
HRD Corporation
  
Kemie Industries
  
Lubrizol Corporation (US)
  
Michelman Inc. (US)
  
Momentive Performance Materials
  
Nippon Seiro Co.Ltd (Japan)
  
Repsol S.A. (Spain)
  
Sasol Limited (South Africa)
  
The Darent Wax Company Ltd.
  
The Dow Chemical Company
  
The Lubrizol Corporation (US)
  
Wacker Chemie AG (Germany)


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


May 2021: Michelman, Omya Announce Canadian Distribution Agreement. Will be distributor for Michelmans surface modifiers and wax emulsions. Omya will be the exclusive distributor for Michelmans surface modifiers and wax emulsion product line to the paints and coating markets in Canada. Michelman announced that Omya will be the exclusive distributor for Michelmans surface modifiers and wax emulsion product line to the paints and coating markets in Canada. Source