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Wax market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™

Wax market Size and Share Analysis | Industry Growth Forecast to 2027

 

The global Wax Market is set to gain impetus from their increasing usage in a wide range of applications, such as plastic & rubber additives, candle manufacturing, cosmetics, adhesives, polishes, and coatings. Wax also provides protection to packaged goods from moisture.  This information is given by Fortune Business Insights™ in a recent report, titled, “Wax Market Size, Share & Industry Analysis, By Product Type (Petroleum, Synthetic, Mineral and Animal & Plant), By Application (Candles, Packaging, Coating & Polishes, Hot-melt Adhesives, Cosmetic & Toiletries, Plastic & Rubber and Others) and Regional Forecast, 2019-2027.”

Wax market Drivers and Restraints  :

The emergence of end use industries, such as rubber, plastic, cosmetics, packaging, and candles is surging in the developing regions, namely, Latin America, Africa, and Asia Pacific. But the growth is low in the developed regions, such as Europe and North America.

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List of Significant Manufacturers in Wax market are:

  • Sasol Limited (South Africa)
  • Sinopec (China)
  • Royal Dutch Shell PLC (Netherlands)
  • Exxon Mobil Corporation (USA)
  • The International Group Inc. (Canada)
  • Petróleo Brasileiro S.A. (Brazil)
  • The PJSC Lukoil Oil Company (Russia)
  • PDVSA (Petróleos de Venezuela, S.A.) (Venezuela)
  • Kerax Limited (UK)
  • DEUREX AG (Germany)
  • NIPPON SEIRO CO. LTD. (Japan)
  • Numaligarh Refinery Limited (India)
  • Strahl & Pitsch, Inc. (USA)
  • CALWAX (USA)
  • Poth Hille & Co Ltd. (UK)
  • Cargill, Inc. (USA)
  • Samin Chemical (Iran)

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Regional Analysis-

Asia Pacific to Lead Stoked by Abundant Availability of Raw Materials

Based on geography, the market is divided into Europe, the Middle East and Africa, North America, Asia Pacific, and Latin America

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Some of the key industry developments Wax market Include:

  • February 2020: Sasol, an integrated energy and chemical company based in South Africa, inaugurated the completion of its FT Wax Expansion Project (FTWEP). It would strengthen South Africa’s position in the wax industry.

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