Global Industrial Wax Market
Industrial Wax Market Size And Forecast
According to Verified Market Research, Global Industrial Wax Market was valued at USD 9.6 Billion in 2018 and is projected to reach USD 13.89 Billion by 2026, growing at a CAGR of 4.70% from 2019 to 2026.
Global Industrial Wax Market Outlook
The growing demand for wax from packaging industries owing to the good lubricating and moisture resistance properties is driving the growth of the market. furthermore, increasing demand for packed foods is expected to drive the growth of the market. However, the fluctuation in the prices of bio-based and synthetic wax coupled with the declining supply of paraffin wax is anticipated to hinder the growth of the market. Moreover, the rise in the demand for environmentally friendly wax such as bio-based waxes in the manufacturing of cosmetics, polishes, and pharmaceutical products is anticipated to fuel the growth of the market.
Global Industrial Wax Market Competitive Landscape
The Global Industrial Wax Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Sinopec, Petroleo Brasileiro, Royal Dutch Shell, Exxon Mobil, Sasol, Oil Co. Lukoil PJSC, The Blayson Group, Numaligarh Refinery, International Group, and HCl.
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