The global paraffin wax emulsion market size was valued at USD 527.6 million in 2021. The market is projected to grow from USD 550.7 million in 2022 to USD 860.3 million by 2030, exhibiting a CAGR of 5.7% during the forecast period.

This information is provided by Fortune Business Insights, in its report, titled, “Paraffin Wax Emulsion Market, 2024-2032.”

Segments:

By Application:

• Coatings: Used in surface protection, paints, and coatings, providing water repellency and gloss enhancement.
• Adhesives & Sealants: Improves tack and bonding in adhesive formulations.
• Paper & Packaging: Provides moisture resistance and enhances durability in paper products and packaging materials.
• Textiles: Enhances fabric softness and adds water repellency.
• Polishes & Cleaners: Used in floor, furniture, and car polishes for shine and protection.
• Cosmetics & Personal Care: In skincare products like lotions, creams, and other formulations for moisturization.
• Other: Includes applications in construction materials, agriculture, and industrial processing.

By End-Use Industry:

• Paints & Coatings Industry: Major end-user, with significant use of paraffin wax emulsions in industrial and decorative coatings.
• Paper & Packaging Industry: For waterproofing and improving the aesthetic appeal of paper products and packaging materials.
• Textile Industry: As a textile finishing agent, paraffin wax emulsion adds softness and water resistance to fabrics.
• Adhesives & Sealants Industry: Used in industrial and commercial adhesives.
• Cosmetics & Personal Care Industry: Growing demand for paraffin wax emulsions in skincare products.
• Food Industry: Used in certain food coatings and packaging applications to ensure food preservation.

Report Coverage:

The report presents a holistic study of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the market growth are shared in the report.

Drivers and Restraints:

Growing Demand for Paraffin Wax from Paints & Coatings and Wood Working to Amplify Growth

Paraffin wax emulsion is substantially consumed in paints & coatings and woodworking applications. The growing demand for paints & coatings from various industries, comprising automotive, building, industrial manufacturing, and electrical & electronics is accountable for product implementation. Additionally, the growth is also credited to the capability of wax paraffin emulsion to guard substances or materials from rusting and wear & tear.

List of Key Players Mentioned in the Report:

• PMC Crystal (U.S.)
• Sasol (South Africa)
• Altana AG (Germany)
• Lubrizol Corporation (U.S.)
• Nippon Seiro Co., Ltd (Japan)
• Michelman, Inc. (U.S.)
• TIANSHI WAX (China)
• BASF SE (Germany)
• Repsol (Spain)

Regional Insights:

Asia Pacific to Lead Backed by Increasing Urbanization Activities

Asia Pacific held the largest paraffin wax emulsion market share and was valued at USD 188.8 million in 2021. The abrupt population growth and rising urbanization activities are backing for the advancement of numerous industries, such as leather manufacturing, agriculture, paints & coatings, and construction, which are bolstering the product utilization in Asia Pacific.

The manufacturing industries in Europe involving automobiles, chemicals, electrical engineering and electronics, machinery & equipment building, and food processing activities are flourishing, thereby enhancing infrastructures and augmenting product demand.

North America held a notable share of the paraffin wax emulsion market. Paper production and agriculture are the dominating sectors that carried out an indispensable part in the market’s growth and enhancement.

Get More Information: https://www.fortunebusinessinsights.com/paraffin-wax-emulsion-market-106795

Competitive Landscape:

Key Players Sign Significant Contracts to Make Remarkable Changes in the Market

The players operating in the market often employ numerous tactics that will aid the paraffin wax emulsion market growth and product demand. Among the pool of strategies, one such notable strategy to expand the business prospect is signing multimillion contracts with government bodies and securing a profitable revenue for their company.

Key Industry Development:

May 2021: Michelman declared a novel contract with Omya, a manufacturer of calcium carbonate and a universal supplier of specialty chemicals for its portfolio. The bond mentions that Omya will be the sole provider for Michelman’s wax emulsion and surface modifiers product series to Canada’s paints and coating markets.