What are the growth prospects for hydrocarbon waxes in the cosmetics industry? – The current of the Manomet

Award-winning consulting firm Fact.MR has released a new report on the global hydrocarbon waxes market for the forecast period 2021-2031. According to the study, the market is poised to exceed $ 5 billion in revenue by 2031, with a CAGR of around 3%. Growth is primarily driven by the massive adoption of the plastic additives and paints and coatings segments.

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The rapid expansion of the global construction industry is a major driver of this increased adoption in the aforementioned segments. Data from Oxford Economics suggests global construction output will exceed $ 1 trillion by 2030, registering an astronomical 85% slope, with China, India and the United States contributing nearly three-fifths of overall growth. As this trend becomes increasingly evident, major construction giants are capitalizing on the adoption of high-quality plastics, prompting increased use of hydrocarbon waxes.

Hydrocarbon waxes improve surface properties such as water repellency, maintain coating appearance (gloss, matte and texture), improve rheology and prevent pigment settling. Demand for paints and coatings is high in the automotive and building and construction sectors, increasing growth prospects. In addition, the improved skin protection properties also offer a wide scope for expansion in the cosmetics and personal care industry.

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Key market segments covered

  • Application
    • Hydrocarbon waxes for lubricating adhesives
    • Hydrocarbon waxes for plastic additives
    • Hydrocarbon Waxes for Rubber
    • Hydrocarbon waxes for paints and coatings
    • Hydrocarbon waxes for metalworking fluids
    • Hydrocarbon waxes for other applications

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Competitive landscape

Major players presented in Fact.MR market research include Sasol Ltd., ExxonMobil Corp., Kerax Limited, Faith Industries Limited, Poth Hille & Company Limited, Strahl & Pitsch Inc., Blended Waxes Inc., Calwax LLC, Goyel Chemicals Corporation, Valan Wax Products Limited, AF Suter & Company Limited, Mat-Chem and King Honor International Ltd.

Read more trend reports and the like from Fact.MR – https://www.globenewswire.com/en/news-release/2019/05/30/1859387/0/en/Colloidal-Silica-Sales-Growing-in-Line-with-Quest-for-Effective-Process- Binders-and-Additives-Fact-MR-Survey.html

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