The wax emulsion market is projected to grow at a CAGR of 4.9% between 2019 and 2024
The wax emulsion market is estimated to be worth USD 1.6 billion in 2019 and is expected to reach USD 2.0 billion by 2024, growing at a CAGR of 4.9% from 2019 to 2024. Increasing demand from paints & coatings and adhesives & sealants industries have led to significant developments of wax emulsion, thus, driving the market growth. Wax emulsions possess qualities such as water resistance, abrasion resistance, high melt viscosity, and better aesthetics, making them viable in numerous industries.
Paints & coatings contributed the highest revenues in the wax emulsion market
Paints & coatings, adhesives & sealants, cosmetics, and textiles, among others, were the different end-use industries of wax emulsions. Of these, paints & coatings were the largest end-users in 2018. Ease of use, environment-friendly, small particle size and physical stability are some crucial features of wax emulsion, which has led to its massive demand in paint & coating formulations. The growth of the global paints & coatings industry is expected to augment the demand for wax emulsions further during the forecast period.
Polyethylene wax emulsions to lead the global market during the forecast period
Polyethylene wax emulsion was the most widely used type of product due to its economical price and easy availability. Based on volume, this segment is expected to witness the fastest growth during the forecast period.
The carnauba wax emulsions are the costliest of the various types available in the market. This segment is anticipated to witness above-average growth during the forecast period, in terms of its value. Despite its high cost, carnauba wax is used extensively in various applications including cosmetics, medical, food packaging, and polishes, among others.
Based on the region, Asia Pacific is projected to grow at the highest CAGR in the wax emulsion market between 2019 and 2024
The Asia Pacific wax emulsion market is anticipated to grow at the highest CAGR between 2019 and 2024. China, Japan, and India together accounted for the lion’s share of the Asia Pacific wax emulsion market in 2018. China is a major consumer of wax emulsions in Asia Pacific due to the extensive use of the product in various industries, such as paints & coatings and adhesives & sealants. Abundant availability of raw material and cheap labor in the region, also make it one of the largest manufacturers of the product.
Breakdown of primary interviews for the report on the wax emulsion market
- By Company Type – Tier 1 – 11%, Tier 2 –33%, and Tier 3 – 56%
- By Designation – C-Level – 20%, D-Level Executives – 10%, and Others – 70%
- By Region –Asia Pacific – 14%, Europe – 29%, North America – 36%, Middle East & Africa – 14% South America – 7%,
The leading manufacturers of wax emulsion profiled in this report include BASF SE (Germany), Nippon Seiro Co. (Japan), Altana AG (Germany), Sasol Ltd. (South Africa), Exxon Mobil Corporation (US), Michelman, Inc. (US), Repsol S.A. (Spain), Lubrizol Corporation (US), Hexion Inc. (US), Wacker Chemie AG (Germany), DANQUINSA GmbH (Germany) and H&R GROUP (Germany), among others.
- The report covers the wax emulsion market by the material base, type, end-use industry, and region. It aims at estimating the size and future growth potential of the market across various segments.
- The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
- From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. With these insights, the study discusses the basic views on the competitive landscape, emerging & high-growth segments, high-growth regions, drivers, restraints, opportunities, and challenges in the wax emulsion market.
The report provides insights on the following:
- Market Penetration: Comprehensive information on various systems and processes of wax emulsion offered by top players operating in the market
- Product Development/Innovation: Detailed insights into upcoming developments in the wax emulsion, R&D activities, and new applications in various end-use industries in the market
- Market Development: Comprehensive information about lucrative and emerging markets across different regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the wax emulsion market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the wax emulsion market