Montan Wax Market Size, Share, and COVID-19 Impact Analysis, By Function (Lubricant, Coating agent, Emulsions, and Others), By End-use (Plastic, Pharmaceutical, Cosmetics and Personal Care, Paper, Wax Polishes, and Others), and by Regional Forecast, 2024-2032

Montan Wax is a kind of wax that is extracted from brown coal or lignite. The raw montan wax has long-chain fatty acids ranging from C26 to C32, and esters. Moreover, the product contains natural wax, resin, and bitumen in a specific ratio. Thus, montan wax is widely utilized in different end-use industries as it offers several physical, and chemical functions such as lubrication, emulsion, and others.  Additionally, montan wax is a well-known engineered product that is largely utilized in several materials and products that include plastic, pharmaceutical, cosmetics and personal care, paper, wax polishes, and others.

The growth of the montan wax market is associated with increased disposable income, a rise in population, and a busy lifestyle. This has resulted in an increased demand for pharmaceutical, and industrial chemicals. To fulfill the consumers’ needs from these end-use industries, manufacturers have increased their production capacity which leads to the boost in the demand for montan wax as it works as the coating and lubricating agent. For instance, montan wax is used in medicine formulations such as tablets, and capsules.

However, montan wax is widely utilized in different end-use industries from plastic to wax polished but the large availability of several waxes is anticipated to hinder the market growth in the forecast period. For instance, montan wax and carnauba wax have similar properties and can be used in the same applications. Therefore, carnauba wax may replace the demand for the product. Additionally, these montan wax have a higher carbon content which makes it more difficult to refine and modification that leads to the higher production cost. Thus, all these factors are expected to be one of the key restraints for the market.                                                                                    

Impact of COVID-19 on the Montan Wax Market

The rapid outbreak of the COVID-19 pandemic impacted the world economy at the end of 2019. This has resulted in the interruption in the supply chain of consumer goods, industrial products, and other industries as the consumption of various products such as wax-based decreased drastically. The government of the different countries imposed a temporary lockdown to neutralize the effect of the virus. This led to a massive reduction in the montan-based cosmetic and personal care products including soaps, and candles as the necessitate became the priority. However, the msontan wax market was deeply impacted, but its use in the pharmaceutical industry positively boosted its demand during the pandemic.  Despite the uncertainties, the market has been moderately profitable after the pandemic as business operations returned to the pre-pandemic levels.

Key Insights

The report will cover the following key insights:

• Regulatory Scenario of Montan Wax


• Key Development of Montan Wax


• Impact of COVID-19 on the Montan Wax Market

Analysis by Function

Based on function, the montan wax market can be segmented into lubricant, coating agent, emulsions, and others. The growth of the lubricant segment is associated with its remarkable use in the various end-use industries. For instance lubrication function of the product is utilized in the cold dip chain production as it offers remarkable protection against corrosion to the metal parts. Additionally, the moltan wax is offers coating and lubrication function in the formulation of the different kinds of the medicine. The product may provide excellent abrasion resistance when it is used in the aqua based inks and coatings. Thus, the growth of the market is associated with the segment's growth, and it is expected that it will grow moderately during the forecast period.

Regional Analysis

The market in Asia Pacific is expected to have the moderate market growth. The demand of the product is attributed with rapid industrialization, and a massive rise in the income. The number of the end-use industries has increased in the region. This has resulted in the boost in the product demand. Moreover, the use of the moltan wax in the pharmaceutical industry is expected to boost  the market growth in the region.

In North America, the growth of the market is attributed to the increased demand for the various products including soap, medicines, candles, and different types of the polishing. Additionally, the growth of the paper industry in the region leads to the increased consumption for the product. Thus, all the factors are expected to boost the market in the region.

The demand for montan wax is owing to the growth in the pharmaceuticals industry in the Europe. The rise in the awareness of a healthy lifestyle is associated with the increased demand for the product. Additionally, European countries such as the U.K. has the high rate of the investment in the industrialization which leads to the higher product demand. Thus, the market in the region is increasing gradually. At the same time Latin America, and Middle East & Africa will grow with a moderate CAGR.

Key Players Covered

The report will include key players such as ROMONTA GmbH, Clariant, S. KATO & CO. Yunphos, Mayur Dyes & Chemicals Corporation, First Source Worldwide LLC, Völpker Special Products GmbH, excel international, Stevenson Seeley Inc., TER HELL & Co. GmbH, and Others.

Segmentation

Key Industry Developments

• In September 2019, Völpker Special Products GmbH announced to make VOELPKER an official distributor for the wax products in the Europe region. The purpose of the partnership is to maximize the revenue.