USD 28.4 billion
Global Synthetic Polymer Waxes Market Size, Share, Growth Analysis, By Form(Liquid Forms, Others), By Application(Cosmetics, Food), By Type(Polyethylene wax, Polypropylene Wax) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2436 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
93 |
Figures:
76
Global 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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Liquid Forms
Fastest Growth
Liquid Forms
Growth Rate
5.01% CAGR
Global Synthetic Polymer Waxes Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Synthetic Polymer Waxes Market By Form ($ Bn)
Global Synthetic Polymer Waxes Market By Form (%)
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Global Synthetic Polymer Waxes Market Segmental Analysis
Synthetic Polymer Waxes Market is segmented based on the form, type, application, and region. Based on the form, the Synthetic Polymer Waxes Market is bifurcated into Liquid Forms, and Others. Based on Type, the Synthetic Polymer Waxes Market is segmented into Polyethylene wax, Polypropylene Wax, Fishcher-Trospch Wax, Ethylene Vinyl Acetate Wax, Ethylene Acrylic Acid Wax. Based on the Application, the Synthetic Polymer Waxes Market is segmented into Cosmetics, Food, Automotive, Pharmaceutical, Others. Based on Region Synthetic Polymer Waxes Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Synthetic Polymer Waxes Market Analysis by Form
The Global Synthetic Polymer Waxes market is segmented into Liquid Form, and Others. In 2021, Liquid form dominating the market with the market share of 68% and continue dominated through the forecasted period. Liquid Forms can be sprayed or poured over surfaces. Liquid Form has its own advantages, such as ease of application and the ability to cover vast surface areas quickly in one coat. However, it is not suited for hard-to-reach areas such as cracks between tiles and under appliances where fills are required. Synthetic polymer wax is commonly used to alter the surface texture, appearance, hardness, and viscosity of wax blends. Furthermore, synthetic polymer wax serves as an anti-slip agent, dispersion, lubricant, blinding agent, and shining agent in a variety of end-use applications.
Synthetic Polymer Waxes Market Analysis by Application
The Global Synthetic Polymer Waxes market is segmented into Cosmetics, Food, Automotive, Pharmaceutical, Others. Based on application, pharmaceutical segment has highest market share. Pharmaceutical refers to the application of Synthetic Polymer Waxes in pharmaceutical products, such as capsules and tablets. These polymers act as a barrier, preventing moisture loss from the drugs that also prevent them from reacting with oxygen or other substances that could cause instability. The moisture barrier feature is triggering the demand of polymer wax in the pharmaceuticals sector. Cosmetics segment contributed more then 22% in 2021. Cosmetics is the use of Synthetic Polymer Waxes for beauty care purposes, such as hair styling products. These polymers are widely used in cosmetics because of their ability to form a protective barrier on the skin and prevent water loss, resulting in increased radiance, glossiness, or softness.
Global Synthetic Polymer Waxes Market By Form, 2023 (%)
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Global Synthetic Polymer Waxes Market Regional Insights
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.
Global Synthetic Polymer Waxes Market By Region, 2024-2031
- Largest
- Fastest
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Global Synthetic Polymer Waxes Market Dynamics
Synthetic Polymer Waxes Market Driver
Increasing Use in Cosmetic Industry
- 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 global synthetic polymer waxes market during the forecast timeframe.
Wide Use in Variety of Application
- There has also been an increased use of synthetic polymer waxes in printing ink formulations, coating solutions, adhesives, agricultural and textile applications; which is also likely to contribute towards the growth of the market during the forecast period. Thus, the wide usage of waxes across such applications creates a wide scope for the growth of the global synthetic polymer waxes market during the forecast period.
Specialized Formula for Automobile 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. Hence, the wax is highly adopted; which, in turn, drives the growth of the market during the forecast period. Waxes that are specifically designed for the vehicles is popularly known as car wax, which is used for automotive polishing as it enhances the luster of polished surface. On the other hand, the car wax also protects the vehicle from the oxidation process and avoids corrosion; which again is a major factor that supports the adoption of wax across the automotive applications.
Synthetic Polymer Waxes Market Restraint
Availability of Various Alternative Materials
- One of the major aspects that challenges the growth of the market is the availability of various alternative materials and product substitutes in the market. Alternative products such as paraffin/ mineral wax and natural wax challenges the growth of the global synthetic polymer waxes market during the forecast period. Increased consumer awareness and an inclination of the consumers towards the natural and eco-friendly products is hampering the adoption of synthetic waxes across the applications.
Natural Ingredients Based Products Growing Demand
- In the personal care and cosmetic industry, there has been an increased trend of adoption of natural ingredients-based products among the consumers. Due to this, manufacturers are focusing on developing bio-based wax, such as vegetable wax; that helps in decreasing dehydration and retains moisture for a long time. Thus, this adoption challenges the growth of the market. the price fluctuations in the synthetic polymer waxes are another factor that is challenging the market growth during the forecast period.
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Global Synthetic Polymer Waxes Market Competitive Landscape
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.
Synthetic Polymer Waxes Market Top Player's Company Profiles
- 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.
Synthetic Polymer Waxes Market Recent Developments
- In August 2021, Sasol Limited, entered into a distribution agreement with DKSH Management Limited (Switzerland) for marketing, distribution, and logistics for Sasol's chemicals and wax products in the European market.
- In March 2021, Turtle Wax launched Hybrid Ceramic Graphene Paste Wax in India. The new Graphene paste wax uses the brand’s patent-pending graphene technology. Turtle Wax claims that it is a blend of 10 waxes that infuse silicon dioxide ceramic and graphene.
Global Synthetic Polymer Waxes Key Market Trends
- 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.
- Paraffin has a high capacity for heat absorption and retention. Because paraffin has a low melting point, it can be applied to the skin without causing any burns. As a result, paraffin baths are one of the most effective ways to improve blood circulation and relieve joint pain.
Global Synthetic Polymer Waxes Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Synthetic Polymer Waxes Market Analysis, in 2021, Asia Pacific region contributed highest Synthetic Polymer Waxes market share. China and India are major market for synthetic polymer waxes. It possesses various features such as UV resistance, higher insulation properties, along with a better resistance from moisture, and odor. In all the major applications, pharmaceutical application has the largest market share. The use of Synthetic Polymer Waxes in pharmaceutical products such as capsules and tablets are referred to as pharmaceutical. These polymers act as a barrier, preventing moisture loss and preventing the drugs from reacting with oxygen or other substances that could cause instability.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 28.4 billion |
| Market size value in 2031 | USD 44.12 billion |
| Growth Rate | 5.01% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Synthetic Polymer Waxes Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Synthetic Polymer Waxes Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Synthetic Polymer Waxes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Synthetic Polymer Waxes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Synthetic Polymer Waxes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Synthetic Polymer Waxes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Synthetic Polymer Waxes Market Report Snapshots
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