Persistence Market Research has released a new market research report on “Industrial Wax Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026”. Based on the PMR analysis, the ever expanding end-use industries will give impetus to the industrial wax market. Furthermore, the strategic developments in the regions will influence the global market between 2018 and 2026.
The estimated value of the industrial wax market in 2018 is US $ 8,860.8 million, which is expected to increase at a CAGR of 4.5% and reach US $ 12,556.8 million by the end of 2026 In addition, the industrial wax market is expected to create additional opportunity valued at US $ 3,696.0 million during the forecast period.
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Industrial wax market: dynamic
The huge demand from end-use sectors will create a favorable macroeconomic environment for the global industrial wax market. In the past two years, there has been significant growth in end-use industries such as, in the petrochemical industry, including pharmaceutical, cosmetic and plastics industries across the world, this growth is expected to create a driving force. key to the industrial wax market in the coming future.
The significant growth of the global economy, acquisitions and joint ventures are likely to become a more common industrial phenomenon in the region. Major players in end-use industries are eager to gain increasing dollar opportunities from commercial portfolios and also to gain market share in terms of volume and value by entering into strategic partnerships. As a result, the global industrial wax market is expected to witness healthy growth during the forecast period.
Industrial wax market: forecast
The global industrial wax market is expected to grow and become 1.4X during the forecast period owing to the expected growth in packaging, adhesives and sealants industries.
By region, Western Europe followed by North America is expected to dominate the global industrial wax market during the forecast period. In addition, China is believed to remain the most opportunistic region in the industrial wax market in Southeast Asia. In terms of value, China is expected to create additional dollar opportunities worth US $ 800 million in the global industrial wax market during the forecast period.
By application, the packaging segment is expected to dominate the industrial wax market, with a value of US $ 1,500 million in 2018. The adhesives and sealants segment is expected to account for 15.4% of the value share of market in the global industrial wax market during the forecast period. In terms of growth, the pharmaceutical segment is expected to grow at a slow growth rate compared to the packaging segment in the global industrial wax market during the second half of the forecast period.
By type, the fossil-based segment is expected to dominate the global industrial wax market during the forecast period. In terms of volume, the fossil segment is expected to hold around two-thirds of the market share in 2018 and is expected to dominate the industrial wax market throughout the forecast period. In terms of additional $ opportunities, the segment is expected to create opportunities worth US $ 2,200 million between 2018 and 2026. In addition, the synthetic segment is expected to hold more than a tenth of the market share in terms of value and volume in the global industrial wax market.
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- The Blayson Group Ltée
- Indian Petroleum Company Ltd
- Calumet Specialty Products Partners, LP
- Sonneborn LLC
- The International Group, Inc.
- Koster Keunen
- Kerax Limited
- Iberceras Specialties SLU
- H & R South Africa (Pty) Ltd
- Cirebelle Fine Chemicals (Pty) Limited
- Matchem – Specialty waxes and inspired blends
- Darent Wax Company Ltée.
- Royal Dutch Shell plc.
- Asian oil company
- BP South Africa (Pty) Ltd.
- Nippon Seiro Co., Ltd.
- MOL Group
- HollyFrontier Refining & Marketing LLC
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