Microcrystalline Wax Market Analysis :
Microcrystalline wax is a type of wax and a byproduct of petroleum produced by de-oiling petroleum. In contrast to regular paraffin wax containing many uncontrolled alkanes, microcrystalline wax contains high percentage of isoparaffinic hydrocarbons and naphthenic hydrocarbons. It contains high energy content of aliphatic hydrocarbons. It is darker, more viscous & denser, tackier, and more complex than paraffin, with high molecular weight and melting point. It is characterized by higher molecular weight and brightness of its crystals in comparison to the larger petrol crystalline wax. Microcrystalline wax is used in a variety of industries, including cosmetics, rubber, tire, and casting. It is also an integral part in the manufacture of petrolatum used in industries such as candles, cosmetics, and personal care. It consists of very fine crystals, and is less distinct than paraffin wax due to which it is used in laminated paper products, polishes, linings & coatings, and sealing compositions.
COVID-19 impact:
- The COVID-19 pandemic has affected consumer spending patterns across the globe.
- People have reduced spending on cosmetic products. As the cosmetic industry is one of the major users of microcrystalline wax, this has impacted the demand.
- A similar trend has been observed in the automotive industry, a decline in production due to shortage of raw materials and workforce as well as less demand for new cars.
- Slump has been witnessed in the organic chemicals market. There is increase in demand for those chemicals, which are used in the food & beverages sector or in the healthcare market. Therefore, the market for micro crystalline wax is affected badly.
- China is the major supplier of organic chemicals but due to the coronavirus outbreak, lockdown of supplying sites is leading to supply chain disruption. This has led to shortage of the product in the market.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Microcrystalline wax is used in various industries such as tire & rubber, candles, jewelry making & small templates, attachments, board full of drugs, cosmetics, cast, and others. It is also a key component in petroleum production. In addition, it is used as slip agents in ink printing and a variety of applications such as ropes, lining, coatings & covers, hairy paper products, and various types of sealing compositions. The global economic recovery over the past few years has increased the demand for the product. Microcrystalline wax-based wax polish is ideally used in polishing automobiles, boats, yachts, and furniture to protect them from humidity, heat, dust, environmental destruction, aging, and ordinary wear. As the income of an individual increases, there is a need for an automobile, thus pushing car sales. Further, increased population in countries, such as India and China, has been conducive for the automotive industry. The market is mainly driven by the cosmetics and personal care industries for the product usage in personal cosmetics and personal care products as a visual agent, binder, and emollient to stabilize forms. Higher demand from the end consumer segments such as the rubber industry, the tire industry, petroleum jelly, PVC emissions, thermal attachments, cosmetics, fabric finishes, shells, and glassware, has increased the use of crystalline wax. The macroeconomic factors that contribute to this market growth are increase in demand for designer candles and rise in revenues in the energy sector. Based on applications, the microcrystalline wax market is divided into the rubber industry and the cosmetics industry where the product is used in personal care products such as creams, gears, and cosmetics. Factors that are expected to hinder the market growth are the availability of alternative wax with low prices and volatility of petroleum products.
Key benefits of the report:
- This study presents the analytical depiction of the microcrystalline wax market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the microcrystalline wax market share.
- The current market is quantitatively analyzed to highlight the microcrystalline wax market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the microcrystalline wax market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Microcrystalline Wax Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Application |
|
 By Industry Vertical |
|
 By Region |
|
 Key Market Players | Dongnam Petrochemicals, Nippon Seiro, Shell Group. Indian Oil Corporation, Sasol Wax, British Wax, Kahl Wax |
Loading Table Of Content...
