Global Carnauba Wax Market Overview:
Carnauba wax is extracted from the Copernicia Cerifera, native to Brazil. It is also called Brazil wax or palm wax which is characterized by colour. Additionally, the quality of carnauba wax is examined by the age of a leaf. Carnauba wax is used as an internal mould agent in fluorocarbons and a polish for hard rubber leaves. The end use industries prefer this wax due to its hardness and high melting temperature.
As per latest study released by AMA Research, the Global Carnauba Wax market is expected to see growth rate of 4.1%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Inclination of Consumers towards the Organic Products.
Market Growth Drivers:
Rising Usage in Pharmaceutical as well as Food and Beverage and Organic property of carnauba wax is driving the market
Challenges:
Use of Carnauba Wax May Lead to Side Effects and Lack of Awareness among the Consumers
Restraints:
High Costs Associated with the Carnauba Wax
Opportunities:
Wide Range of Applications is leading to High Demand in the Market and Demand of Organic Products for Food and Beverage
Competitive Landscape:
In this market of carnauba wax, the emerging players are present who are looking to provide organic products owing to high demand which in turn will affect the market positively.
Some of the key players profiled in the report are Foncepi (Brazil), Carnauba do Brasil (Brazil), Pontes (Netherlands), Brasil Ceras (Brazil), Koster Keunen (United States), PVP (Brazil), Cerasmel Relumay (Brazil), Grupo Biobras (Brazil), MEGH (Brazil) and Strahl & Pitsch (United States). Additionally, following companies can also be profiled that are part of our coverage like KahlWax (Germany) and Norevo (Germany). Analyst at AMA Research see Brazil Vendors to retain maximum share of Global Carnauba Wax market by 2030. Considering Market by End users, the sub-segment i.e. Food and beverage will boost the Carnauba Wax market. Considering Market by Form, the sub-segment i.e. Powder will boost the Carnauba Wax market.
Latest Market Insights:
In July 2021, Akrochem Corporation announced the acquisition of Bech Chem, a renowned worldwide chemical supplier. The new acquisition will aid the company's expansion into the coatings, paint & lubricant areas.
In March 2023, Turtle Wax introduced the Streak-Free Mist Collection, which incorporates Carnauba Wax, offering a solution for car care that provides a streak-free shine.
What Can be Explored with the Carnauba Wax Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Carnauba Wax Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Carnauba Wax
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Carnauba Wax market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Carnauba Wax market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.