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Wax emulsions are formulation used for various technical applications in various end-use industries. Synthetic wax emulsions are chemically synthesized emulsions made majorly from petrochemicals like HDPE, LDPE, polypropylene, and others. Synthetic wax emulsions are anti-scuff, anti-blocking, glossy, durable, abrasion resistant, and lustrous. Attributed to such properties, it is majorly used in inks, lacquers, polishes, and paints & coatings.
The continuously increasing demand for paints, coatings, sealants and adhesives for packaging, construction, automotive and other end-use industries is likely to boost the demand for synthetic wax emulsions. The use of polyethylene wax emulsion in textiles for natural and synthetic fibers is likely to create positive impact on the market.
However, the availability of advanced and innovative products from competitive companies is likely to hamper the market for synthetic wax emulsion.
Key Market Driver -
Increasing demand from paints and coatings industry.
Key Market Restraint -
Availability of better products.
Based on type, the market is segmented into LDPE, HDPE, maleic anhydride grafted Polypropylene, Fischer Tropsch wax emulsion and others. Based on application, the market is segmented into paints & coatings, adhesives & sealants, cosmetics, textiles, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global synthetic wax emulsion market consists of global & regional players operating. Some of the key players in the market include BASF SE, Altana AG, Sasol Ltd, Lubrizol Corporation, ExxonMobil Corporation, Wacker Chemie AG, and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for the largest share in the Synthetic wax emulsion market attributed to the huge number of manufacturers in China and India. Additionally, the increasing demand for paints and coatings in the regional market is likely to impact the market positively. Europe is estimated to show significant growth attributed to high demand for synthetic wax emulsions attributed to the increasing technical applications. The high demand from automobile industries for adhesives, sealants, and paints & coatings is anticipated to boost demand for synthetic wax emulsions. North America is likely to show considerable growth due to the demand for printing inks, adhesives, sealants, and lacquers. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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