Industrial Wax Market : Size, Share & Trends | Industry Analysis Report From 2019 – 2027
Global Industrial Wax Market: Overview Industrial wax is used in various applications such as cosmetics and personal care, adhesives, packaging, candle making, etc. Due to its use in many sectors, the demand for the same is increasing and expected to surge in during 2018 to 2026, says recent study on the global industrial wax market. The global industrial wax market is expected to grow at a healthy rate during the forecast period. An upcoming Transparency Market Research (TMR) report elucidates on size, share, trends and factors driving the growth of the global industrial wax market. To know more, visit our Report Overview@ https://www.transparencymarketresearch.com/industrial-wax-market.html Global Industrial Wax Market: Key Developments
Recent development in bio based waxes in packaging and coating sectors that uses vegetable oil as a feedstock. Bio based waxes can act as a substitute for paraffin wax which are suitable for food products. Such sustainable wax hold a large share in the market.
Other than these, the prominent players in the global industrial wax have expansive presence in regional markets. These leaders are concentrating on deriving wax from renewable sources to cater to rising demand from end consumers. Some of these leading players in the market are Royal Dutch Shell (Netherlands), Exxon Mobil (US), Lukoil PJSC (Russia), Sasol (South Africa), Numaligarh Refinery (India), and Sinopec (China). Global Industrial Wax Market: Drivers and Restraints Some the key factors that are expected to drive the global industrial wax market during the forecast period are as follows: Packaging to Drive Global Industrial Wax Market According to a study, the packaging sector is expected to be the one of the largest consumers of industrial wax. They provide good lubrication and waterresistance properties. Hence, industrial wax is widely used in the food packaging sector. Additionally, wax coating provides durability to packaging during transit and handling. Therefore, the global industrial wax will witness a substantial growth during the forecast period. For More Information,Request Brochure@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id =67664