The future of the global synthetic wax market looks promising with opportunities in the automotive, construction, plastic, paint & coating, textile, and paper & packaging markets. The global synthetic wax market is expected to reach an estimated $14 billion by 2030 with a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are high adaption of synthetic polymer waxes in the automotive industry, growing demand for organic and eco-friendly product, and improvements in industrial processes by technology and their economical.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the synthetic wax market by
type (polyethylene wax, fischer-tropsch wax, polypropylene wax, and others),
end use (automotive, construction, plastic, paint & coating, textile, paper
& packaging, and others), and region (North America, Europe, Asia Pacific,
and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market,
polyethylene wax, fischer-tropsch wax, and polypropylene wax are the major
segments of synthetic wax market by type. Lucintel forecasts that polyethylene
wax will remain the largest segment over the forecast period because of its
rising usage in plastics, coatings, and adhesives.Within this market,
automotive is expected to witness the highest growth due to growing usage in
car polish, tire wax, and undercoating for number of performance benefits, such
as high durability, water resistance, and UV protection.
APAC will remain the
largest region over the forecast period due to high adapotion in packaging,
personal care, and textiles in this region.
BASF, Blended Waxes,
Clariant International, Dow Corning, Evonik Industries, Exxonmobil Fuels &
Lubricants, Honeywell International, Koster Keunen, Lubrizol, and Micro Powders
are the major suppliers in the synthetic wax market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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