Carnauba Wax Market is estimated to be 310.2 Million by 2025 with a CAGR of 3.1% during the forecasted period.
The
global carnauba wax market accounted for US$ 246.0 million in
2015 and is estimated to be 310.2 million by 2025 and is anticipated to
register a CAGR of 3.1%.Carnauba wax also called as palm wax or Brazil wax. It
is naturally obtained from the carnaubeira palm and is hardest form of natural
wax. The benefits of carnauba wax such as high durability and melting point
makes it ideal for automotive, pharmaceuticals, cosmetics, and others
applications.
The report. "Global Carnauba Wax Market, By
Source (Natural and Organic), By Form (Powder, Flakes, and Pellet), By End-user
(Food & Beverages, Automobiles, Personal Care, Pharmaceutical, and Others),
and By Region (North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa) - Trends, Analysis and Forecast till 2030”.
Key Highlights:
·
In December 2016, Brenntag
declared the acquisition of EPChem Group. This acquisition will help the
company to increase their portfolio which will also improve their specialty
chemicals portfolio. This will also provide them opportunity so they can
increase their range in different application such as personal care, roofing,
adhesives, among others
·
In October
2015, Simoniz UK introduced the launch of their new range of products which is
particularly manufactured for car- lovers. The innovative range consists of
Simoniz Ultracare Alloy Wheel Cleaner, which cleans alloys without any
corrosive effects. The larger family includes the exclusive Simoniz Shampoo
& Carnauba Wax and Simoniz Shampoo & Wax from Halford.
Analyst View:
Growing inclination of consumers towards naturally-derived
products is propelling the global carnauba wax market growth. Carnauba wax has
extensive use in pharmaceutical industry for pills coating as it is hypo
allergic in nature and easy to swallow. Further, carnauba wax is also gaining
excellent traction in food & beverage industry. As food & beverage
industry is under continuous innovation, carnauba wax products exhibit
excellent emulsifying properties and binding capacity for oils. Additionally,
due to its glossy characteristics and high melting point it is becoming a
desired natural additive choice among producers of cosmetic industry for
manufacturing of lipsticks, lip balms, mascaras among others. Thus, wide
spectrum of carnauba wax applicability is propelling the target market growth.
Moreover, due to its viscosity and hardness modifier properties, it is broadly
used as polish wax in automobile industry. Carnauba wax is gaining purchase
among consumers over the bee wax owing to wide base of application hence
boosting the market growth.
Key Market Insights from the
report:
The global carnauba wax market accounted
for US$ 246.0 million in 2015 and is estimated to be 310.2 million by 2025 and
is anticipated to register a CAGR of 3.1%. The market report has been segmented
on the basis of source, form, end-user, and
region.
·
By source, the
global carnauba wax market is segmented into natural and organic.
·
By form, the target market
is segmented into powder, flakes, and pellet
·
By end-user,
the automotive segment is estimated to register significant share in the
potential market in the coming years. Increasing demand for premium shine wax
in developed and developing countries is a major factor expected to boost the
growth of the segment. Growth in automotive industry across the globe due to
rising urbanization and growing disposable income of individuals is expected to
support revenue growth of market over the forecast period. The food segment is
expected to grow at a higher rate in the coming years.
·
By region, Asia-Pacific has
estimated for highest market proportion in global carnauba wax in 2018 and the
region is projected to continue its dominance in the coming years. The growth
is mainly attributed due to increasing growth in automobile industry across the
emerging economies.
To know the upcoming trends and insights prevalent in this market,
click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Carnauba-Wax-Market-4271
Competitive Landscape:
The prominent player operating in the global
carnauba wax Market includes Strahl & Pitsch, Inc., Pontes Indústria
de Cera, Carnaúba do Brasil, Poth Hille & Co. Ltd., Kahl GmbH & Co. KG,
FONCEPI- Comercial Exportadora Ltda., Koster Keunen, CALWAX, Akrochem
Corporation, and Norevo GmbH.
The market provides detailed information
regarding industrial base, productivity, strengths, manufacturers, and recent
trends which will help companies enlarge the businesses and promote financial
growth. Furthermore, the report exhibits dynamic factors including segments,
sub-segments, regional marketplaces, competition, dominant key players, and
market forecasts. In addition, the market includes recent collaborations,
mergers, acquisitions, and partnerships along with regulatory framework across
different regions impacting the market trajectory. Recent technological
advances and innovations influencing the global market are included into the
report.
About Prophecy Market Insights
Prophecy Market Insights is specialized market
research, analytics, marketing/business strategy, and solutions that offers
strategic and tactical support to clients for making well-informed business
decisions and to identify and achieve high-value opportunities in the target
business area. We also help our clients to address business challenges and
provide the best possible solutions to overcome them and transform their
business.
To know more
Contact Us:
Sales
Prophecy Market Insights
Comments
Post a Comment