Chemical and Materials

Refined Wax Market :- Leading Players are Tannin Corporation, Exxon Mobil Corporation, The Lubrizol Corporation

Refined Wax Market

The analysis and estimations conducted via this Refined Wax report help to get an idea about the product launches, future products, joint ventures, marketing strategy, developments, mergers and acquisitions and effect of the same on sales, marketing, promotions, revenue, import, export, and CAGR values. This report is a wonderful guide for an actionable ideas, enhanced decision-making and better business strategies. Refined Wax report assists in determining and optimizing each stage in the lifecycle of industrial process that includes engagement, acquisition, retention, and Monetization. The insights provided in this Refined Wax market research report are based upon SWOT analysis on which businesses can rely confidently.

Refined wax is a hard substance that provides resistance towards corrosion. The substance is a blend of fatty acids, esters and alcohols that is available in various different forms. Refined wax has the capability of inhibiting resistance to oxidation and moisture. The most common usage of all types of wax is in the making of candles. Refined wax can either be petroleum based or natural based, and the products can be used for several industries.

Refined wax is a non-toxic form of wax having wide applications in products produced by pharmaceuticals, coatings, paints, adhesives, personal care, cosmetics, skin care therapy and many other industries. Natural wax is a blend of hydrocarbons and fatty esters and is mainly derived from plants, fruits, peels and leaves where no chemical reaction is involved. Synthetic wax may be defined as a mixture of number of oils functioning as a stabilizing and binding agent enhancing a product’s texture.

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A petroleum-based or natural-based product undergoes a refining process with the end product remaining solid at room temperature. Natural wax has several major forms such as soy wax, jojoba, rice bran wax, tallows and many other substitute products of wax. Synthetic wax is available in the form of foamed bitumen used in the pavement of roads construction.

Global refined wax market is projected to register a steady CAGR of 4.9% in the forecast period of 2019 to 2026.

Segmentation: Global Refined Wax Market

Global refined wax market is segmented into two notable segments which are by type and application.

  • On the basis of type, the market is segmented into natural wax, synthetic wax and specialty wax
    • In April 2018, Calumet Specialty Products Partners, L.P. announced that they completed the acquisition of Biosynthetic Technologies, LLC. The acquisition will enhance the company’s specialty products segments and create a better brand image in the market. The partnership will also cut the operating expense costs leading to greater margins of profits.
  • On the basis of application, the market is segmented into building materials, candles & hotmelts, chlorinated paraffins, adhesive and coating, cosmetics and pharmaceuticals, chewing gum, crayons, fire logs, food, plastic processing, printing inks & lacquers, polishes, road construction, textile industry, tire & rubber, packaging and others.
    • In October 2016, Sudbury Boat Care Products, Inc. acquired the company namely Tip Top Products, Inc., a leading company for maintenance marine products and furniture markets. The two well-known marine brands together can work towards expansion of the Sudbury line products.

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Competitive Analysis: Global Refined Wax Market

Some of the major players operating in this market are The International Group, Inc., Calumet Specialty Products Partners, L.P., Sage Oil LLC, Tannin Corporation, Exxon Mobil Corporation, The Lubrizol Corporation, American Refining Group, Inc., Ergon, Inc., Sonneborn LLC, Sudbury Boat Care Products, Health & Beauty Natural Oils Co., Inc., DEUREX AG, michelman, inc., SQI Group, BASF SE, Clariant, Mitsui Chemicals, Inc., Lion Chemtech Co., Ltd., ceronas GmbH, ALTANA, SCG Chemicals Co., Ltd., Cangzhou Bee Source Wax Co., Ltd and Changge Huading Wax Industry Co.,Ltd.

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Product Launch:

  • In May 2019, michelman, inc. launched a new grade of product namely ProHere E 00017 which provides excellent adhesion and coat protection to a variety of metals. It is a waterborne polymer dispersions used in metal coatings and wood fittings. It also acts as a gloss enhancer in automotive and has applications in constructions as well. The product launch will help the company to expand its product portfolio thus increasing market shares.
  • In January 2018, Cangzhou Bee Source Wax Co., Ltd developed a product namely propolis which had antibacterial effect inhibiting replication of virus in the liver cells making hepatitis B negative thus proving itself a treatment for the liver diseases. It relieves liver toxins and reduces liver poisoning. This marks the company with a good product portfolio with medicinal properties in the market.
  • In March 2018, Changge Huading Wax Industry Co., Ltd. developed a product namely beeswax from the honeycomb of worker bees. It is used for lowering of cholesterol and relieving pain. It is also used in treatment of swellings, diarrhoea and hiccups, ulcers. The new development makes the company’s product portfolio look stronger in the market.

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