Microcrystalline waxes are a type of wax produced by de-oiling petrolatum, as part of the petroleum refining process. It is generally darker, more viscous, denser, tackier and more elastic than paraffin waxes, and has a higher molecular weight and melting point. Microcrystalline Wax is used in various industries such as the tire and rubber, candles, custom making of jewelry and small sculptures, adhesives, corrugated board, cosmetics, castings, and a host of others. Microcrystalline Wax is also a key component in the production of petrolatum. They are also used as slip agents in printing ink.
The candle manufacturing consumes most of the crystalline wax produced in world in terms of volume in 2013, and is expected to show the highest growth rate in the forecast period. One of the driving factors of growing crystalline wax market is due to the increasing use of decorative, luxury, and scented candles.
In addition, a major portion of crystalline wax is also used in packaging and cosmetics segments. These segments are also witnessing rapid growth in the forecast period. Moreover, cosmetic industry has also displayed various innovations and development, which is again going to escalate the demand of crystalline wax, as wax is a crucial ingredient in several cosmetic formulations. Additionally, it is a preferred key ingredient, due to its properties which help to keep skin moisturized and hydrated.
High demand from end user segment such as rubber industry, tyre industry, petroleum jelly, PVC extrusion, hot-melt adhesives, cosmetics, textile finishing, polishes, and calibration of glassware extended the consumption of microcrystalline wax.
Asia-Pacific region shows the highest demand in the forecast period, due to the growing demand from the end user segment such as candles, adhesives, packaging, and cosmetics. Some of the biggest players of the market are concentrated in the Asia-pacific region such as Hebei Feitian Petrochemical Group, MichelMan, Exxon Mobil Corporation, China National Petroleum Corporation (CNPC), The International Group Inc., Sinopec Limited, and Royal Dutch Shell.
North America is the second largest for the Microcrystalline Wax market, followed by Europe.
Coverage and Research Methodology
This study aims to estimate the global market of Microcrystalline Wax for 2014 and to project its projected demand by 2019. This market research study provides a detailed qualitative and quantitative analysis of the global Microcrystalline Wax market. We have used various secondary sources such as directories, industry journals, and databases to identify and collect information useful for this extensive commercial study of the Microcrystalline Wax market. The primary sources – experts from related industries and suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects of this market.
Competative lanscape and profiling of key companies
Competitive scenarios of the top players in the Microcrystalline Wax market have been discussed in detail. We have also profiled leading players of this industry with their recent developments and other strategic industry activities. These include: key Microcrystalline Wax manufacturers such as ARG Group, CEPSA, Continental Chemical Ltd, Dongnam Petrochemical mfg. Co. Ltd, IGI Wax, Nippon Seiro Co. Ltd, Sinopec Jingmen Company and Sasol Wax.
Scope of the report
This research report categorizes the global market for Microcrystalline Wax on the basis of applications, end-user industries, and geography along with forecasting volume, value, and analyzing trends in each of the submarkets.
On the basis of applications
- Rubber & Tyre Industry
- Cosmetics & Pharmaceuticals
- Adhesives & Sealants
- Surface Coating & Water proofing
- Petroleum Jelly
- Electrical & Electrical Insulating Agents
On the basis of geography
- North America
- Rest of the world
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