Global Hydrocarbon Waxes Market, By Product Type (Single Type, Compound), Application (Lubricating Additives, Plastic Additives, Paints and Coatings, Metalworking Fluids, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The hydrocarbon waxes market is estimated to reach a value of USD 4.67 billion by 2028. Data Bridge Market Research report on hydrocarbon waxes market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Hydrocarbon waxes are the type of byproducts of the oil purification process. Hydrocarbon waxes are derived from the de-waxing process that crude oil undergoes. They are then processed further for usage in products. Hydrocarbon waxes comprise a mixture of hydrocarbon molecules which contain 20 to 40 carbon atoms.
The increase in the production capabilities in agriculture, candle wax blends and corrugated wax is likely to influence the growth of the hydrocarbon waxes market. In line with this, the therapeutic benefits of hydrocarbon wax are coupled with pain relief treatment of several medical conditions is also acting as a key determinant which will favor the growth of the hydrocarbon waxes market over the forecast period of 2021 to 2028. Furthermore, the rise in popularity in skin moisturizers, hand salves and balms is also expected to positively impact the growth of the hydrocarbon waxes market. The major factor which is expected to forward the growth of the market is the high demand for wax emulsions that deliver a ready-to-handle surface.
However, the intense competition among existing manufacturers of hydrocarbon waxes and frequent changes in consumer preferences are expected to act as key restraint towards hydrocarbon waxes market growth rate in the forecast period of 2021 to 2028. Whereas, the fluctuation in raw material prices are expected to challenge the growth of the hydrocarbon waxes market in the above mentioned forecast period.
Furthermore, the rise in awareness regarding the flooding technique and micro-computed tomography method and the ever-increasing demand for premium beauty and skincare products are expected to offer a variety of growth opportunities for the hydrocarbon waxes market in the above mentioned forecast period.
This hydrocarbon waxes market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on the hydrocarbon waxes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Hydrocarbon Waxes Market Scope and Market Size
The hydrocarbon waxes market is segmented on the basis of product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on product type, the hydrocarbon waxes market is segmented into single type and compound.
- The application segment for the hydrocarbon waxes market is segmented into lubricating additives, plastic additives, paints and coatings, metalworking fluids and others. The plastic additives application segment is leading the global hydrocarbon waxes market during the forecast period. Plastic additives have a high-value application segment of the global hydrocarbon waxes market is expected to continue during the forecast period.
Global Hydrocarbon Waxes Market Country Level Analysis
The hydrocarbon waxes market is analyzed and market size, volume information is provided by country, product type and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe leads the hydrocarbon waxes market because of the high demand for components that are used in automotive, building and construction and packaging industries. North America is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to the high utilization of composite materials in paints and coatings applications.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hydrocarbon Waxes Market Share Analysis
The hydrocarbon waxes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hydrocarbon waxes market.
The major players covered in the hydrocarbon waxes market report areSasol Limited, Exxon Mobil Corporation, Kerax Limited, Faith Industries Ltd., Poth Hille, Strahl & Pitsch, Inc., Blended Waxes, Inc., CALWAX, Goyel Chemical Corporation, AF Suter & Co Ltd., KING HONOR INTERNATIONAL LTD., China Petrochemical Corporation, The International Group, Inc., Honeywell International Inc., COLUMBIA PETROCHEMICALS, Numaligarh Refinery Limited, Repsol, Indian Oil Corporation Ltd., Gandhar Oil and Dhariwal Corp. Private Limited among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.