The global hydrocarbon waxes market is expected to surpass a valuation of US$5 billion by 2031, growing at a CAGR of roughly 3% over the next ten years.
ROCKVILLE, MARYLAND, USA, March 15, 2022 /EINPresswire.com/ — 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 demand market for hydrocarbon waxes is poised to surpass $5 billion in revenue by 2031, growing at a CAGR of around 3%. The growth is mainly supported by wide adoption in the plastic additives and paints & coatings segments.
One of the major drivers for this increased adoption in the aforementioned segments is the rapid expansion of the global construction industry. Data from Oxford Economics suggests global construction output is set to exceed US$1 trillion by 2030, registering an astronomical 85% slope, with China, India and the US contributing nearly three fifths of overall growth. As this trend becomes increasingly evident, major construction giants are leveraging the adoption of high-grade plastics, resulting in increased use of hydrocarbon waxes.
Hydrocarbon waxes improve surface properties such as water repellency, maintain coating appearance (gloss, dullness and texture), improve rheology and prevent pigment settling. The demand for paints and coatings is high in the automotive and building and construction sectors, increasing the prospects for growth. Moreover, the enhanced skin-protecting properties also provide wide scope for expansion in the cosmetics and personal care industry.
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Key insights from market research
By application, plastic additive manufacturing generates high demand for hydrocarbon waxes
The demand in the segment of lubrication additives is going to gain major traction over the next few years
US to See Significant Adoption in Paints & Coatings and F&B Packaging Sectors
China to emerge as dominant market in Asia amid booming infrastructure projects
India to become heavyweight in rubber production and manufacturing category
“Leading manufacturers are constantly innovating existing product offerings in hydrocarbon waxes, given their growing scope and applicability across a wide range of end-use industries, providing ample room for expansion. “, says an analyst from Fact.MR.
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Key Market Segments Covered
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
Rest of Latin America
Russia and CIS
The rest of Europe
Rest of Asia-Pacific
Middle East and Africa
Rest of MEA
hydrocarbon waxes market
Benefits of the report and answers to key questions
Company and Brand Share Analysis of Hydrocarbon Waxes: The report offers brand share analysis in the Hydrocarbon Waxes market to offer a deeper analysis of the competition. This is intended to help businesses with proactive long-term planning.
Hydrocarbon Waxes Historical Volume Analysis: Factors affecting sales in the past are analyzed in detail. The report also offers a comparative analysis between the growth trajectory displayed in 2016-2020 and 2021-2031.
Category and Segment Level Analysis of Hydrocarbon Waxes: To offer a comprehensive analysis, the market identifies major segments and highlights key factors enabling growth in these categories.
Hydrocarbon Waxes Consumption by Demographics: Demographic analysis aims to provide recommendations to companies to help them create growth strategies around dynamic consumption patterns.
Manufacturing Trend Analysis of Hydrocarbon Waxes: The manufacturing trend analysis is the culmination of the study. It offers vital data on the strategies adopted by market players to align their manufacturing strategies with prevailing market trends.
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Key players profiled in the Fact.MR market study 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.
Goyel Chemicals Corporation, a leading Indian manufacturer, offers its range of hydrocarbon wax recommended for treating RPVC pipes and ducts. They are effective alternatives to conventional oils and waxes which possess high volatility and increase the risk of hazards
In March 2020, King Honor International Ltd. has launched a new quality of Fischer-tropsch wax for hot melt adhesives and PVC lubricants. This new grade of KH FT Wax 110 B has a high freezing point and low oil content
More information about the offer
Fact.MR, in its new offering, presents an unbiased analysis of the hydrocarbon waxes market, showcasing historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study discloses key market insights on the basis of application (lubricating adhesives, plastic additives, rubber, paints & coatings, metalworking fluids, and others) across five major regions of the world (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).
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