Industrial Wax Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of industrial wax market by type (fossil based, synthetic based, and bio-based), application (candles, food and beverage, packaging, coatings and polishes, hot-melt adhesives, tires and rubber, cosmetics and personal care, and others) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the industrial wax market it includes the five years Industry analysis and the 6 years annual forecast from to 2025. Some of the prominent participants in the global industrial wax market are The International Group, Inc., The Blayson Group Ltd, HCI Wax, Numaligarh Refinery Limited., The PJSC Lukoil Oil Company, Sasol Limited, Exxon Mobil Corporation, Petróleo Brasileiro S.A., Royal Dutch Shell Plc, and China Petroleum & Chemical Corporation. The global industrial wax market is projected to grow at a CAGR of 4.1% over the forecast period of 2019-2025.
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Industrial Wax Market: Drivers, Restrain and Opportunities
Industrial wax has several applications- candle manufacturing, waterproofing agents, crayons, friction reducing agents, and coating agents. Additionally, it has several applications in other industries-agriculture, food, rubber, electrical appliances, pharmaceuticals, and cosmetics, matches box manufacturing industry, fabric, and paper industry. It is used as anti-caking agents to ease the dosing, handling, and transportation of fertilizers.
It is used as coating agents for several food products in the food industry as cheese, citrus fruits. In the rubber industry, it is used to protect the tire from ozonization, chipping and cracking. In the electrical industry, it is used as insulating agents to cover electronic nodes and appliances wirings. Furthermore, it is used in the pharmaceutical and cosmetics industry as a coating agent to protect the surface of the tablet. In the matchbox and firework industry, it is used to regulate their burning. Owing to its unique properties its demand is increasing day by day in every industry.
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Asia-Pacific is the Leading Industrial Wax Market
Asia-Pacific is the leading market of the industrial wax, due to the increasing industrial application of industrial wax as coating agents in fertilizer, electronic & electrical and food industry. Additionally, the growing demand for a different type of cosmetic and pharmaceutical products is helping to boost the demand for industrial wax in this region. China is the leading country in the Asia-Pacific region in terms of consumption of industrial wax products. Europe is the second largest market after the Asia-Pacific in industrial wax market.
Industrial Wax Market: Segmentation
The report on the global industrial wax market covers segments such as type and application. On the basis of type, the sub-markets include fossil based, synthetic based, and bio-based. On the basis of application, the sub-markets include candles, food, and beverage, packaging, coatings and polishes, hot-melt adhesives, tires, and rubber, cosmetics and personal care, and others.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the industrial wax.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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