- Press Release -

Award-winning consulting firm Fact.MR has published a new report on the global hydrocarbon waxes market for the 2021-2031 forecast period. According to the study, the market is poised to surpass US$ 5 billion in revenue by 2031, expanding at a CAGR of around 3%. Growth is primarily underpinned by extensive uptake in the plastic additives and paints & coatings segments.

A key driver behind this increased uptake across the aforementioned segments is the rapid expansion of the global construction industry. Data from Oxford Economics suggests that global construction output shall surpass US$ 1 trillion by 2030, registering an astronomical 85% incline with China, India and the U.S contributing almost three-fifths of overall growth. As this trend becomes increasingly evident, key construction giants are leveraging high-grade plastics adoption, prompting increased usage of hydrocarbon waxes.

Hydrocarbon waxes enhance surface properties such as water repulsion, maintain coating appearance (gloss, matting, and texturing), improve rheology, and prevent pigment settling. The demand for paints and coatings is high in automotive and building & construction sectors, augmenting growth prospects. Furthermore, enhanced skin protection properties are providing a wide ground for expansion across the cosmetics & personal care industry as well.

Key Takeaways from Market Study

• By application, plastic additive manufacturing to generate high demand for hydrocarbon waxes
• Demand across the lubricating additives segment to acquire major traction over coming years
• The U.S. to experience significant uptake across the paints & coatings and F&B packaging sectors
• China to emerge as a dominant market in Asia amid surging infrastructure projects
• India to emerge as a heavyweight in the rubber production & manufacturing category

“Prominent manufacturers are constantly innovating existing product offerings in hydrocarbon waxes, given their increasing scope and applicability across a broad range of end-use industries, providing adequate room for expansion,”

Competitive Landscape

Major players profiled in Fact.MR’s market study include Sasol Ltd., ExxonMobil Corp., Kerax Limited, Faith Industries Limited, Poth Hille & Company Limited, Strahl & Pitsch Inc., Blended Waxes Inc., Calwax LLC, Goyel Chemicals Corporation, Valan Wax Products Limited, AF Suter & Company Limited, Mat-Chem,and King Honor International Ltd.

• Goyel Chemicals Corporation, a prominent Indian manufacturer, offers its range of hydrocarbon wax recommended for processing of RPVC pipes and conduits. These are effective alternatives to conventional oils and waxes which possess high volatility and heighten the risk of hazards
• In March 2020, King Honor International Ltd. launched a new grade of Fischer-tropsch Wax for hot melt adhesives and PVC lubricants. This new grade of KH FT Wax 110 B has high congealing point and low oil content

More Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the hydrocarbon waxes market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of application (lubricating adhesives, plastic additives, rubber, paints & coatings, metalworking fluids, and others) across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

Fact. MR’s Domain Knowledge in Chemicals and Materials

Our Chemical and Material consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemical and material sector. Our expertise in recognizing the challenges and trends impacting the global chemical and material industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Indronil Sikdar

Fact.MR

Consultant – Chemicals and Materials

E-mail: Indronil@factmr.com