Wax Market - Forecast 2022 - 2027

acids along with long-chain

into multiple categories such as

more.

which include packaging,

building & construction,

rubber, and other

Key Takeaways

•Adhesive application in Wax Market is expected to see the fastest growth, especially during the forecast period, owing to its increasing demand from the packaging industry. Properties of wax such as high melting point, high stability, and low melt viscosity make it ideal for the production of hot melt adhesives. •Wax has a wide range of properties which include excellent thermal stability, high softening point, high melting point, high chemical resistance, perfect lubrication, which makes it ideal for use in packaging, cosmetics, and textile industries.

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Wax Market Segment Analysis – By Application

The Adhesive application held the largest share in the Wax Market in 2021 and is expected to grow at a CAGR of 2.8% between 2022 and 2027, owing to the increasing demand for adhesives from the packaging sectors in multiple regions across the world. According to a recent study published by the European Adhesive and Sealant Industry in 2020, the adhesives sector saw an increase in the production of adhesives across multiple regions. Asia-Pacific saw an increase of 36.8%, Europe by 34.5%, North America by 23.1%, the Middle East by 1.3%, and Africa by 1.1% in 2020.

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