New Trends of Candelilla Wax Market with Worldwide Industry Analysis to 2027
Posted by Shirish Wadaskar on June 7th, 2017
Candelilla wax is obtained from secreted wax-coated small stems of plant named Euphorbia Cerifera. The wax is primarily extracted by treating boiled dilute sulphuric acid over wax coated stem of Euphorbia Cerifera. The derived wax is brittle and hard, aromatic, opaque to translucent and yellowish-brown in color. The plant traditionally was used to extract thick wax coating (Candelilla wax), which was originally used for making candles. Candelilla wax acts as an agent which prevents moisture loss and act as protector to skin. Thus it is found in various products such as massage bars, lotions, and moisturizers. The potential use of candelilla wax is to make barrier products or add texture and provide gloss & lubrication to products such as lip balms. Candelilla wax is also used as glazing agent and emulsifier in food products. It is used as a binder in chewing gums base. The commercial use of candelilla wax is identified for various products such as varnish (a protecting film used in wood finishing), cosmetic, polishes and waterproofing paper. Candelilla wax can be substituted for beeswax and spermaceti wax; this is due to consumer opting for vegan natural products in their daily cosmetic.
Candelilla Wax Market: Dynamics
Candelilla wax is synthesized and have organic properties which provide more advantages over other wax such as beeswax, lanolin wax and spermaceti wax as they are responsible for harm to animals and their species. The demand for candelilla wax is growing owing to its application in cosmetic products; this is due to candelilla wax is easily absorbed into skin and is rich in nutrients. Moreover, it helps to stiffen the products such as lip balm, stick foundation, and eye-shadow without making them hard and thus, is a driving factor for the growth of candelilla wax market. Another factor for the growth of candelilla wax is that the ingredient has no concern attached to candelilla wax, it is non-toxic, non-irritant and is considered safe for use on skin. Owing to its consumption for the medicinal and cosmetic purpose for reducing the appearance of stretch marks and wrinkle is driving the demand for candelilla wax market. Another potential growth factor to candelilla wax market is its properties such as high melting point, chemical stability, and water repellency makes it useful in waterproofing compounds, liquids and pastes polish. Moreover, its exceptionally molding qualities which are capable of reproducing fine detailed work makes it superior precision casting wax
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Candelilla Wax Market: Segmentation
Based on form: Candelilla wax is segmented into
Based on application: Candelilla wax is segmented into
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Candelilla Wax Market: Region wise Outlook
The global candelilla wax market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). The overall candelilla wax market is expected to grow at moderate CAGR due to regulation impact imposed over the extraction of candelilla wax from euphorbia cerifera. Latin America holds major share in the global candelilla wax market owing factors such as incorporating cutting edge technology in the supply, extraction, exploitation and refining, growth in R&D for application of candelilla wax, and expansion for cosmetic end use industries. Moreover, the regional institute of candelilla wax promotes the use of it in national and international market using various marketing programs developed by experts. The candelilla wax market in Europe and North America is expected to grow at healthy CAGR during the forecast period wherein growth of personal care industry boosts the global candelilla wax market. APEJ is estimated to grow at high CAGR during the forecast period due to many of the cosmetic industry players substituting candelilla wax with beeswax to provide consumer with vegan cosmetic products.
Candelilla Wax Market Players
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About the AuthorShirish Wadaskar
Joined: December 22nd, 2016
Articles Posted: 1,786
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