Global Microcrystalline Wax Market Share Is Expected To Grow At A CAGR Of 5.2% By 2028

15-Sep-2022 | Facts and Factors

According to Facts and Factors, the global microcrystalline wax market size was worth around USD 689.3 million in 2021 and is predicted to grow to around USD 1034 million by 2028 with a compound annual growth rate (CAGR) of roughly 5.2% between 2022 and 2028.

Chemically, microcrystalline waxes are inert. Micros have a larger iso-paraffinic hydrocarbon to naphthenic hydrocarbon ratio than paraffin waxes do. Microcrystalline waxes' large proportion of branching, iso-paraffins is what gives them their flexibility and stickiness. In contrast to paraffins, the waxes have a microscopic, crystalline structure, and these tiny crystals give them more flexibility. Crystalline structure and size, molecular weight, and the iso-paraffin/normal paraffin ratio are three factors that significantly differentiate micros. All micros are flavorless and odorless.

Browse the full “Microcrystalline Wax Market Size, Share, Growth Analysis Report By Type (Flexible and Hard), By Application (Cosmetics and Personal Care, Candles, Adhesives, Packaging, Rubber, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/microcrystalline-wax-market

Like paraffin waxes, microcrystalline waxes are soluble in a wide range of fixed and volatile oils as well as chloroform, ether, benzene, carbon disulfide, and other organic solvents. Micro waxes barely marginally dissolve in 100% alcohol and don't dissolve at all in water or alcohol. Microcrystalline waxes are exceedingly flexible yet quite strong. As a result, they have great tensile strength and are extremely ductile and bendable, even at low temperatures. Because of their high levels of cohesion, micros have sticky capabilities and are resistant to both water & water vapor. Excellent for coating, laminating, or hardening materials are microcrystalline waxes. Their ability to transition from solid to liquid across a constrained temperature range, low viscosity as a liquid just above their melting point, opalescence in thin layers, and electrical characteristics are further advantageous characteristics.

Micro waxes can be used for the base of chewing gum, cosmetics, ointments where they harden, lubricate, and protect against moisture, food packaging, increasing the fluidity and flexible bonding of hot-melt adhesives, crayons, candles, and insulating materials. They can also be used to protect against moisture through wax-impregnated paper, film, foil, and corrugated board.

Microcrystalline wax has become primarily used in several significant sectors, including the cosmetics and pharmaceutical industries. Additionally, production facilities for rubber, adhesives, castings, and corrugated boards have become significant users. Therefore, it is anticipated that in the upcoming years, the total amount of revenue in the global microcrystalline wax market would reach new heights. Microcrystalline wax is used in a variety of sectors due to its reshapable and moldable nature. The use of microcrystalline wax to create beautiful jewelry and decorative products has further fueled industry expansion. Microcrystalline wax is used to paint and polish wood, ivory, and jewels in museums and old structures. Microcrystalline wax has a wide range of industrial applications.

The global microcrystalline wax market is segmented based on type, application, and region.

The global market is divided into several categories according to the application, including personal care & cosmetics, candles, adhesives, packaging, rubber, and others. The personal care & cosmetics sector had the greatest market share in 2021 and is anticipated to expand significantly over the coming years. The extensive usage of microcrystalline wax in cosmetic and personal care products is responsible for the segment's rise. To thicken the formulations of cosmetics and personal care products, microcrystalline wax is utilized as a viscosity agent, binder, and emollient. The proliferation of new cosmetics and concerns about appearance has led to a large rise in the market for cosmetics and beauty products.

With a share of more than 40%, Asia Pacific led the global microcrystalline wax market, followed by North America and Europe. With a greater emphasis on aesthetics, aging, and living standards in nations like China and India, the usage of cosmetics & personal care products is expanding throughout the region. In India, the cosmetics market has expanded over the past ten years. The growth of the nation's packaging business is mostly fueled by the food and pharmaceutical sectors. The substantial and expanding middle class in India is a driving factor behind the growth of organized retail in the nation as well as the packaging sector. Due to varied packaging requirements, including lightweight products, a variety of sizes, a long shelf life, and simple recycling, the need for packaging has expanded in India. Additionally, throughout the projection period, all these factors raise the demand for microcrystalline wax in the Asia-Pacific region.

Report Scope

The global microcrystalline wax market is dominated by players like MOL Group, Sasol, The International Group, Inc., Calumet Specialty Products Partners, Indian Oil Corporation Ltd, Sonneborn LLC, Kerax Limited, Koster Keunen, Nippon Seiro Co., Ltd., Asian Oil Company, CEPSA, and Holly Frontier Refining & Marketing LLC, among others.

The global microcrystalline wax market is segmented as follows:

By Type

• Flexible
• Hard

By Application

• Cosmetics and Personal Care
• Candles
• Adhesives
• Packaging
• Rubber
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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