The global market for wax-free shellac was valued at approximately USD 8 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 1.90%, reaching USD 9.13 million by 2030. This growth is driven by increasing demand for natural and eco-friendly materials, as well as the growing use of wax-free shellac in food, pharmaceutical, and cosmetic applications. The steady demand from the coatings and varnish industries further contributes to this positive market trajectory.
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