Published on : Dec 10, 2018
ALBANY, New York, Dec 10, 2018: The microcrystalline wax market is mainly driven by surging applications of microcrystalline wax across numerous end-use applications. A report, titled “Microcrystalline Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” The report exhaustively discusses numerous growth prospects and prominent strategies adopted by the numerous players operating in the microcrystalline wax market in order to gain substantial share in the overall revenue of the market. The report is available on the website ResearchMoz.us.
Paraffin and microcrystalline wax are natural waxes, which are produced from petroleum sources. Microcrystalline wax is solid saturated hydrocarbon produced from de-oiling fractions of raw materials used in the petroleum refining process. The application of microcrystalline wax has widened across the rubber and jewelry making owing to its advanced properties. Additionally, growing demand for the decorative, designer and scented candles is boosting demand for the microcrystalline wax and likely to propel the growth of the global market for microcrystalline wax. Moreover, growing adoption of tires and other rubber-based products is surging demand for microcrystalline wax owing to its properties of elasticity and flexibility, which is favoring the growth of the global microcrystalline wax market.
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In addition, growing cosmetic industry due to their desire and concern over looks and appearance is fuelling demand for the microcrystalline wax. This growing demand is propelling the growth of the global microcrystalline wax market. However, numerous alternatives available in the market coupled with fluctuating petroleum prices are limiting uptake and likely to restrain growth of the microcrystalline wax market.
The microcrystalline wax market is segmented on basis of grade, application, end use, and region. Based on grade, the market for microcrystalline wax is segmented in to flexible, and hard. Based on application, the market is segmented into granule, pellets, slab, and bulk liquid. Based on the end user, the microcrystalline was market is segmented into rubber (non-tire), tire, cosmetics, pharmaceuticals, ink and coatings, petroleum jelly, lubricants, adhesives, candles, and others.
On the basis of region, the microcrystalline wax market is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Of these, Asia Pacific is expected to account for the largest share in the revenue of the global microcrystalline wax market owing to growing industrialization in the developing countries across the region. Also, a growing number of wax producers in the region and the growing utilization of wax from numerous industries such as textile, cosmetics, and candles. North America and Europe are accounting the larger share after Asia Pacific region in the global microcrystalline wax market.
Some of the players operating in the global market for microcrystalline wax are Indian Oil Corporation Ltd, Koster Keunen, Calumet Specialty Products Partners, L.P., The International Group, Inc., and Kerax Limited.
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