What is the global market size of Synthetic Polymer Waxes Market?

Synthetic Polymer Waxes Market size was valued at USD 28.4 billion in 2021 and is poised to grow from USD 29.83 billion in 2022 to USD 44.12 billion by 2030, growing at a CAGR of 5.01% in the forecast period (2023-2030).

Synthetic Polymer Waxes Market Size, Share, Growth Analysis, By Form(Liquid Forms, Others), By Application(Cosmetics, Food, Automotive, Pharmaceutical), By Type(Polyethylene wax, Polypropylene Wax, Fishcher-Trospch Wax, Ethylene Vinyl Acetate Wax), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Synthetic Polymer Waxes Market?

The Global Synthetic Polymer Waxes market is relatively fragmented, with a high level of competition. Some of the prominent players operating in the market are BASF, Innospec, Dupont, SGS chemicals Clariant, Honeywell among others. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements and contracts to increases the market share. Also, companies are working towards the sustainable material that recycled multiple times and achieving their sustainable goals. 'Clariant AG', 'BASF SE', 'Dow Corning Corporation', 'Evonik Industries AG', 'Mitsui Chemicals, Inc.', 'Lubrizol Corporation', 'KahlWax', 'Croda International Plc', 'Micro Powders, Inc.', 'Shamrock Technologies', 'Meguiar's Inc.', 'Paramelt BV', 'Nanjing Tianshi New Material Technologies Co., Ltd.', 'Sasol Limited', 'Trecora Resources', 'The International Group, Inc.', 'Michelman, Inc.', 'Honeywell International Inc.', 'Altana AG', 'SAE Inc.'

Q: Which region accounted for the largest share in Global Synthetic Polymer Waxes Market?

Asia Pacific held the largest global Synthetic Polymer Waxes market share and this trend is expected to continue over the forecast period. The key aspects that drive the growth of the Asia-Pacific market includes the growth in the demand for the waxes from the end-use applications such as packaging, construction, and cosmetics. Increased construction activities across the region increases the demand for hot-melt adhesives which significantly contributes to the growth of the market during the forecast period. Further, technological advancement is another aspect that contributes to the growth of the industry during the forecast period. Furthermore, the region also holds the presence of various small as well as large scale personal care and cosmetic manufacturers that also positively influences the growth of the market. Hence, an increased production, consumption and export of cosmetic and packaging products across the key economies of the region such as China and India are likely to positively influence the growth of the market during the forecast period.

Report ID: SQMIG15E2436 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 93 | Figures: 76

Synthetic Polymer Waxes Market Insights

Synthetic Polymer Waxes Market size was valued at USD 28.4 billion in 2019 and is poised to grow from USD 29.83 billion in 2023 to USD 44.12 billion by 2031, growing at a CAGR of 5.01% in the forecast period (2024-2031).

The infrastructural development worldwide generates demand for paints and coatings, and inks, which is positively expected to impact the growth of the global synthetic polymer market during the forecast period. Moreover, the FDA (Food and Drug Administration) has approved the use of synthetic polymer wax in the food packaging industry, which is the major factor projected to surge the growth of the synthetic polymer wax market over the forecast period.

There has been an increased demand of synthetic polymer waxes from the automotive sector. Synthetic polymer waxes possess various features such as UV resistance, higher insulation properties, along with a better resistance from moisture, and odor; which are of utmost importance in the automotive sector.

US Synthetic Polymer Waxes Market is poised to grow at a sustainable CAGR for the next forecast year.

Synthetic Polymer Waxes Market Report Snapshots

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The Synthetic Polymer Waxes market is relatively fragmented, with a high level of competition. Some of the prominent players operating in the market are BASF, Innospec, Dupont, SGS chemicals Clariant, Honeywell among others. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements and contracts to increases the market share. Also, companies are working towards the sustainable material that recycled multiple times and achieving their sustainable goals. 'Clariant AG', 'BASF SE', 'Dow Corning Corporation', 'Evonik Industries AG', 'Mitsui Chemicals, Inc.', 'Lubrizol Corporation', 'KahlWax', 'Croda International Plc', 'Micro Powders, Inc.', 'Shamrock Technologies', 'Meguiar's Inc.', 'Paramelt BV', 'Nanjing Tianshi New Material Technologies Co., Ltd.', 'Sasol Limited', 'Trecora Resources', 'The International Group, Inc.', 'Michelman, Inc.', 'Honeywell International Inc.', 'Altana AG', 'SAE Inc.'

The waxes are highly used in the manufacturing of personal care and cosmetic products such as hair care, skincare, makeup, and other allied products. Hence, a significant growth in the cosmetics industry is likely to significantly drive the synthetic polymer waxes market during the forecast timeframe.

The cosmetics and personal care industries are expanding quickly as more people strive to improve their looks and look beautiful. The market for synthetic polymer waxes has been significantly impacted by the expansion that has been further fueled by the expanding dominance of social media and the desire to look beautiful on the platform, particularly in south Asian countries.

Asia Pacific held the largest Synthetic Polymer Waxes market share and this trend is expected to continue over the forecast period. The key aspects that drive the growth of the Asia-Pacific market includes the growth in the demand for the waxes from the end-use applications such as packaging, construction, and cosmetics. Increased construction activities across the region increases the demand for hot-melt adhesives which significantly contributes to the growth of the market during the forecast period. Further, technological advancement is another aspect that contributes to the growth of the industry during the forecast period. Furthermore, the region also holds the presence of various small as well as large scale personal care and cosmetic manufacturers that also positively influences the growth of the market. Hence, an increased production, consumption and export of cosmetic and packaging products across the key economies of the region such as China and India are likely to positively influence the growth of the market during the forecast period.

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Synthetic Polymer Waxes Market Size, Share, Growth Analysis, By Form(Liquid Forms, Others), By Application(Cosmetics, Food, Automotive, Pharmaceutical), By Type(Polyethylene wax, Polypropylene Wax, Fishcher-Trospch Wax, Ethylene Vinyl Acetate Wax), By Region - Industry Forecast 2024-2031

Synthetic Polymer Waxes Market Insights

Synthetic Polymer Waxes Market Report Snapshots

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What is the market size of Synthetic Polymer Waxes Market?

Who are the key vendors in the Synthetic Polymer Waxes Market?

What is the key driver of Synthetic Polymer Waxes Market?

What is the key market trend for Synthetic Polymer Waxes Market?

Which region accounted for the largest share in Synthetic Polymer Waxes Market?

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