The global microcrystalline wax market is estimated at around US$ 1.3 Billion in 2022. With a projected CAGR of 4% for the next ten years, the market is likely to reach a valuation of approximately US$ 1.9 Billion by the end of 2032.Microcrystalline wax is wax created in the crude oil refining process by de-oiling petrolatum. Microcrystalline waxes generally have to meet ASTM specifications and have widespread applications across a huge variety of industries and applications.
Fact.MR analysis reveals that most of the market revenue is grossed from Hard Microcrystalline Wax types, which have a predicted CAGR of 3.8% during 2022–2032. Their use in candles is the top application of microcrystalline wax, the revenue through which is expected to grow at a CAGR of 3.6% during the forecast period.
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Market Players: -
- Alfa Chemical Ltd
- Asian Oil Company
- Blended Waxes Inc.
- British Wax
- Calumet Specialty Products Partners, L.P.
- DONGNAM PETROCHEMICALS HollyFrontier Refining & Marketing LLC
- Indian Oil Corporation Ltd
- Indian Oil Corporation Limited
- Koster Keunen, Inc.
- Kerax Limited
- MOL Group
- Nippon Seiro Co. Ltd
- Paramelt BV
- Sonneborn LLC
- Strahl & Pitsch Inc
- TER HELL & Co. Ltd
- The International Group, Inc.
- The Frank B. Ross Co
What Do You Get in a Fact.MR Study?
- Factors affecting the overall development of the global Microcrystalline Wax Market
- Factor that might restrain the growth of the global market in the coming years of the forecast period.
- What is present competitive scenario of the global Microcrystalline Wax Market and its intricate details concerning potential business prospects of leading market players
- Pricing strategies of several different market players in the global Microcrystalline Wax Market
The key companies operating in the microcrystalline wax market include Alfa Chemical Ltd, Asian Oil Company, Blended Waxes Inc., British Wax, Calumet Specialty Products Partners, L.P., CEPSA, DONGNAM PETROCHEMICALS HollyFrontier Refining & Marketing LLC, Indian Oil Corporation Limited, Kahl Wax, Keunen, Inc., Kerax Limited, MOL Group, Nippon Seiro Co. Ltd, Para melt BV, Sonneborn LLC, Shell Group, Strahl & Pitsch Inc, TER HELL & Co. Ltd, The International Group, Inc., and The Frank B. Ross Co.
Some of the recent development in Microcrystalline Wax are as follows:
- In May 2021, Calumet Specialty Products Partners, L.P., and Aevitas Inc. announced that they had entered into a partnership. Through this partnership, they will aim to bring their oil and wax products to the Canadian market, with Aevitas being the choice partner thanks to their wide network of infrastructure and fleet capabilities.
- In April 2022, Sonneborn, a brand under HF Sinclair, announced the selection of a distributor for their product, the Sono Jell Candle Base — IV, a crystalline wax modifier that can help form tight-knit crystalline structures in candles, leading to an overall more visually appealing product. The product can also speed up cooling, production, and packaging time. The distributor is to be North America’s Palmer Holland.
- In June 2021, British wax manufacturer Kerax and London’s Itero announced the start of a collaboration. Under this collaboration, Kerax signed an MOU for the purchase of 5000 tonnes/annum of recycled wax products from Itero in an attempt to further their efforts towards greener solutions and alternatives.
Similarly, recent developments related to companies manufacturing Microcrystalline Wax have been tracked by the team at Fact.MR, which is available in the full report.
Key Segments Covered in Microcrystalline Wax Survey
- By Type:
- By Application:
- Personal Care & Cosmetics
- By Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
How Fact.MR Assists in Making Strategic Moves?
The data provided in the Microcrystalline Wax Market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.
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