The Global Wax Emulsion Market is segmented into the Material Base, Type and Application.
On the Basis of Material Base, the market is segregated into natural and synthetic segments.
The market by Type is further categorized into polyethylene, paraffin, carnauba, and polypropylene segments.
The market by Application is further categorized into paints & coatings, adhesives & sealants, cosmetics, textiles, and others.
Some of the prominent players operating in the Global Wax Emulsion Market are BASF SE (Germany), NIPPON SEIRO CO., LTD (Japan), ALTANA (Germany), Sasol Limited (South Africa), The Dow Chemical Company (U.S.), Exxon Mobil Corporation ( U.S.), Momentive (U.S.), michelman, Inc. (U.S.), the Lubrizol Corporation (U.S.), and Danquinsa GmbH (Germany) among others.
The Wax Emulsion Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the market due to the growing adoption of Synthetic Wax emulsions in paints & coatings, adhesives & sealants, cosmetics, textiles, and others.
The paints & coatings segment holds the major portion and is anticipated to continue its dominance in the market due to the ability of the mixture to act as a matting and ant-setting agents in the industry. Therefore, countries such as China, Japan, and India are the major players in this market.
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The North American region is growing significantly due to an increased consumption of emulsifying wax in cosmetics, packaging, and others. It is predicted that growing investments in the end-use industries is likely to drive the market during the forecast period. The growing consumption of the product in healthcare, lipsticks, and ointments has propelled the growth in countries such as the U.S, Canada, and Mexico to achieve a stunning growth in the market as they provide excellent fabric softening, durable and high standard performance to the product.
The European market has also observed a remarkable growth due to an implementation of new rules and regulations proposed by the government to follow Wax Emulsions rather than solvents in the industry. The market has been driven by the application of this rule in paints & coatings, and adhesives & sealants segments. It is estimated that the growing innovation and technological advancement are predicted to propel the growth in the countries such as the U.K, Italy, Germany, and France during the forecast period.
The Latin American region is estimated to witness a recognized development in the market due to the growing consumption of emulsifiers and insulating compound in the end-use industries. Moreover, the Middle East & Africa is anticipated to witness a higher growth in the market due to increasing demand for wax emulsions in the end-use industries.
Synopsis of Wax Emulsion Market:
Wax Emulsion is a mixture composed of one or more sticky solids in water. This mixture is stabilized by adding surfactants and other additives in the process. It offers slip and lubrication along with abrasion resistance, anti-blocking, matting, and water repellency properties to the product. Moreover, its ability to change surface properties such as coefficient friction and impart aesthetic appearance to the product are the important trends and factors influencing the market confidently. Therefore, they are used in various applications such as paints & coatings, adhesives & sealants, cosmetics, textiles, and others.
Among the various segments in the Wax Emulsion Market, the Synthetic Wax segment has witnessed a notable growth due to its boundless use in end-use industries such as paints & coatings, textiles, and others. The polyethylene segment holds the major portion of the market and is expected to continue its dominance on account of the extensive use of the product in textiles, concrete curing compound, particle board, floor polishes, inks, paper, and coatings industries. It is predicted that the paraffin wax segment is set to grow at a higher CAGR due to its growing demand for the packaging and food & beverages sectors. The market by application is segregated into paints & coatings, adhesives & sealants, cosmetics, and textiles industries. The paints & coatings sector is projected to expand at a significant rate due to growing substitution of solvents by Wax Emulsion in the industry. Moreover, the textile industry is set to grow at a rapid rate owing to the boundless use of the product in fabrication and imparts aesthetic appearance to the finished material.
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