About Natural Waxes
Wax is also known as an organic compound, which is insoluble in water and helps in different purposes of an application. These wax are derived from a different source of natural resources hence making it pure from the synthetic ones. The high demand from the cosmetics industry is one of the major sectors that helps the market to grow at a different pace. For Instance, the statistic outlines that the annual refinery net production of waxes in the United States from 2008 to 2018, is measured in thousand barrels per day. However, in 2018, the refinery net production of waxes in the United States was observed to be five thousand barrels per day. Hence this shifting of people to consume more natural products though synthetic ones in terms of cosmetics is driving the market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States and China Vendors will contribute the maximum growth to Global Natural Waxes market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Strahl & Pitsch (United States), Koster Keune (United States), Poth Hille (United Kingdom), Nanyang Energy Chemical (China), Beijing LIKANGWEIYE (China), WAXOILS Pvt Ltd (India), Frank B. Ross (United States) and M/S Bhakti Petrochem (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Carmel (United States) and Shri Ram Sons Wax Private Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global Natural Waxes market by Type (Animal waxes (Beeswax, Chinese wax, Lanolin (wool wax) and others), Vegetable waxes (Bayberry wax, Candelilla wax, Carnauba wax, and others), Mineral waxes (Ceresin waxes, Montan wax and Ozocerite) and Petroleum waxes (Paraffin wax, and Microcrystalline wax)), Application (Cosmetic, Packaging, Candle Making, Adhesives, Rubber and Other Applications) and Region.
On the basis of Type, Petroleum waxes are dominating the market in the year 2023 where as Mineral waxes stood as second largest market share.
On the basis of geography, the market of Natural Waxes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Melting Point, the sub-segment i.e. <70 ℃ will boost the Natural Waxes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Adoption of Vegetable Waxes in the Various Products
Market Growth Drivers:
The cosmetic industry is one of the major application that is driving the market. It uses wax as an ingredient in a variety of products such as solubilizing agents, cleansers, and conditioners. It also provides protection against mechanical stress, UV-radiation, and parasites. Thus become the reason, for their usage in creams, lotions, and lip balms. Hence making the market to be driven by urbanization and the growth in online beauty spending, across the world.
Challenges:
Availability of Different Substitutes in Market and Shifting Manufacture Preferences from Natural to Synthetic Waxes as an Ease Availability
Restraints:
Fluctuating Prices of Raw Materials of these Waxes and Environment Concerns
Opportunities:
Increasing use of Mineral Wax in Rubber Production is Likely to act as an Opportunity for the Market in the Future and Growing usages of these Waxes in Application like Candle Making, Packaging Among Others
Market Leaders and their expansionary development strategies
In March 2020, Calumet Specialty Products Partners L.P. announced yesterday it had acquired Paralogics LLC, a producer of candle and industrial wax blends based in Muncie, Indiana., The acquisition will increase Calumets blending and formulating capacity by 20 million pounds per year,
In December 2022, The Care Chemicals division of the chemicals giant is launched Euperlan NL Pearl, the first wax-based pearlizer compliant with the COSMOS standard for rinse-off personal care applications. Euperlan NL Pearl is composed of the naturally derived ingredients hydrogenated vegetable oil, cocamidopropyl betaine and glycerol oleate.
According to the Food and Drug Administration (FDA) and the U.S, the safety and use of these substances are strictly regulated. Coatings used on fruits and vegetables must meet the food additive regulations of the FDA. FDA requires wax labeling for fresh fruits and vegetables that have been treated with postharvest wax or resin coatings. Consumers will see signs in produce departments that read: “Coated with food-grade vegetable, petroleum, beeswax, and /or shellac-based wax or resin, to maintain freshness”. In today's marketplace, none of these coatings is animal-based, and they all come from natural sources.
Key Target Audience
Natural Waxes Manufactures, Natural Waxes Distributors, Potential Investors, End-User and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.