Montan Wax Market

Montan Wax Market Statistics – 2030

The global montan wax market size was valued at $130.0 million in 2021, and is projected to reach $195.5 million by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

Statement for COVID-19 banner: The montan wax market has moderate impact due to the wake of the COVID-19 pandemic, owing to disruptions in the supply chain for various industrial products. Moreover, the delays in the infrastructure investment, electrical, wax polishing sectors and complete shutdown of transportation has hampered the montan wax market.

Montan wax, also known as lignite wax, or fossilized wax, is extracted from wood coal or lignite. Montan wax has long chains of fatty acids and alcohol with brown to black in color, non-toxic, tasteless and has high melting point. It acts as lubricating, coating, releasing, and thickening agent, owing to such widespread properties, it is widely used in the food, pharmaceuticals, cosmetics, manufacturing, automotive, and other end-use industries.

The factors such as rise in population, increase in fashion consciousness in both developed and developing nations adoption of western culture has surged the demand for montan wax in the textile industry, where it is used as coating, protective, and lubricating material for leather, various types of fabrics, yarn, and others. It also helps in maintaining the quality of fabrics, and increases the durability of clothes. This is projected to enhance the demand for montan wax in the textile industry; thus, helps increase the potential sales of montan wax in the textile industry.

The montan wax is obtained from lignite and the extraction of brown coal. However, the content of lignite in the montan wax is 2%-9%. The normal content of lignite in the montan wax should be more than 10%, owing to unavailability and high production cost of lignite, the manufacturers are looking for an alternative substitute for lignite that includes coal residues, which gives economic efficiency to the manufacturers. In addition to this, the montan wax is widely used in pipes, wires, cables, plastic components, and other plastic household appliances as a coating agent. However, it can easily run off in a humid environment, which in turn leads to wax deposition and clogs the flow in the pipes which can negatively impact the montan wax market. These factors together are expected to hamper the growth of montan wax in the market.

The factors such as rise in population, increase in disposable income, improvement in standard of living, change in lifestyle, and increased focus in the pharmaceutical industry have surged the demand for montan wax. The montan wax acts as a lubricating agent and coating agent mainly used in the formulation of drug containing edible capsules, ointments, lotions, creams, and other products. These factors are predicted to contribute to the global market growth and are anticipated to offer new opportunities in the global montan wax market.

The global montan wax market analysis is done on the basis of function, end use, and region. Depending upon function, it is divided into emulsion, lubricants, thickening agent, release agent, and others, and on the basis of end use, it is classified into wax polishes, rubber and plastics, pharmaceuticals, electrical, cosmetics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major companies profiled in the montan wax market forecast include AmeriLubes, L.L.C., Carmel Industries, Clariant, Dhariwal Corp. Private Limited, Excel International, LUMITOS AG, Mayur Dyes & Chemicals Corporation, Poth Hille, ROMONTA GmbH, S. KATO & CO., Stevenson-Seeley, Inc., TER HELL & CO. GMBH, Tianshi Wax, VÖLPKER SPEZIALPRODUKTE GMBH, and Yunphos.

Montan wax market, by region

The Europe montan wax market size is projected to grow at the highest CAGR of 4.4% during the forecast period, in 2021, with 35% global montan wax market share. This is attributed to proliferating demand from electric and electrical sector where montan wax is used as coating agent, lubricating, and thermal insulating agent for manufacturing of wires and cables

Montan wax market, by function

In 2021, the lubricants segment was the largest revenue generator, and is anticipated to grow at a CAGR of 4.3% during the forecast period. The rise in transportation and logistics activities has surged the global need for refined crude oil and other petroleum products to increase their refining capacities of crude oil where montan wax is used extensively as a lubricant in reactors, hot pipes, and gas streams to maintain flow efficiency of the oil.

Montan wax market, by end-use

By end use, the wax polishes segment dominated the global market in 2021, and is anticipated to grow at a CAGR of 5.1% during forecast period. The utilization of montan wax has increased owing to rise in population, growth in consumer demand for vehicles, and others. The montan wax is widely used for polishing purposes of vehicles, infrastructure, upholstery, and others. In addition to this, montan wax is used extensively in car polishing as a coating agent. For instance, according to an article published by ACEA (European Automobile Manufacturers' Association) in April 2022, in 2021, 79.1 million motor vehicles were produced around the world, an increase of 1.3% as compared to 2020. This is expected to create lucrative opportunities for the global montan wax in the market.

Key Benefits for stakeholders

• Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• It outlines the current montan wax market trends and future estimations from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
• The study provides montan wax opportunities, drivers, restraints, and their detailed impact analysis are explained in the study.
• The profiles of key players and their key strategic developments are enlisted in the report.

Impact Of Covid-19 On The Global Montan Wax Market

• The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The montan wax market has moderate impact due to the wake of the COVID-19 pandemic, owing to disruptions in the supply chain for various industrial products. The outbreak of COVID-19 resulted in shutdown of various manufacturing plants for a long period, especially in Europe, Asia-Pacific, and other regions, owing to which manufacturers faced shortage in labor units, production losses, and also, rise in awareness regarding worker security, safety, and guidelines by government posed an additional challenge to resume their basic operations in manufacturing unit. In the first quarter of the pandemic, there was a complete shutdown of building & construction activities, manufacturing industry, and others, due to the strict imposition of lockdown, which hampered the growth of montan wax in the manufacturing industries, construction, pharmaceuticals, food & beverages, paper, electrical, agriculture, and other end-use sectors. Furthermore, disruption in the production unit, closure of manufacturing factories, and cutbacks in service sectors lead to disruption in global logistics and supply chain services. Moreover, the delays in the infrastructure investment, electrical, wax polishing sectors and complete shutdown of transportation has hampered the montan wax market. However, rise in demand for construction, electronics, paper, cosmetics, pharmaceuticals, manufacturing units, and increase in focus on an escalating economic recovery across the globe has supported the cosmetics, pharmaceuticals, transportation, manufacturing, and other end use sectors. In addition, as the restrictions imposed due to lockdowns are being lifted in the fourth quarter of the pandemic, the cosmetics, food & beverages, pharmaceuticals, agriculture, and other sectors are expected to recover soon owing to record of production unit in both developed and developing economies.

 Montan Wax Market Report Highlights