wax emulsions market Growth And Trends Analysis-2020
Posted by rohan on November 25th, 2020
wax emulsions Market Overview:
The global wax emulsions market was valued at USD 4.2 billion in 2020 and is expected to grow at a CAGR of 4.3% during the forecast period. The wax emulsion is a mixture of one or more waxes (oil based) in water. Waxes are generally immiscible with water and therefore surfactants are added to make them miscible. Waxes have a significant impact on various formulations and processes. It provides lubrication as well as abrasion resistance, anti-blocking, matting and water repellent properties to the resulting product. This leads to its wide applications in paints and coatings, adhesives and sealants, cosmetics, textiles and others. Wax sources can be natural or synthetic, natural waxes include beeswax (animal origin) and carnauba (plant origin); and artificial waxes include paraffin wax, amide wax, polyethylene wax, polypropylene wax and molten wax, among others. The significant growth of the paints and coatings industry in the world is probably the driving force behind the growth of the global wax emulsions market, as wax emulsion is increasingly used in formulations of paints and coatings rather solvent-based coatings, which are generally considered to have a high volatile organic content (VOC).
Market drivers and restraints:
The growing demand for wax emulsion from various end use industries such as adhesives and sealants, paints and coatings, textiles, cosmetics and others, due to its properties such as abrasion resistance, ease of use, anti-blocking, is an expected important factor to stimulate the growth of the target market. In addition, the use of paraffin wax emulsion is increasing in packaging and food applications such as special decorative papers and cardboard boxes for food transportation, manufacture of cork stoppers for bottles, among others. This is another factor that is expected to drive the potential growth of the market in the coming years. In addition, the increasing demand for wax emulsion in the woodworking industry for finishing and treating wood, as it increases physical stability and durability, is estimated among other factors that are driving the growth of the target market. However, rising crude oil prices are expected to be a major factor that may slow the growth of the global wax emulsions market. The increasing adoption of natural wax emulsion, the development of innovative and profitable products, and the increasing demand from various end-use industries in developing countries are other factors that are expected to create opportunities for manufacturers and are expected to increase target market growth.
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About the Authorrohan
Joined: September 20th, 2017
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