Slack Wax Market

Slack Wax Market Size and Growth Rate:

According to our research report, the Slack Wax Market Size was capitalized at USD XX Million in 2018. The Slack Wax Market is expected to exceed USD XX million by 2023 and grow at a compound annual rate of XX% from 2018 to 2023.

The market is driven by growing personal care industry in the Asia-Pacific region. Growing demand for ice hockey and snowboarding in the North American region is likely to act as an opportunity for the market’s growth. In 2017, the Asia-Pacific region accounted for the largest share of the global market.

Slack Wax Market Growth Demands and Restraints:

Microcrystalline wax is used in adhesives, including hot-melt adhesive products, to optimize the viscosity, flow, and set time properties. It also increases the adhesive’s bond strength, thermal stability, and crystallization rates. Adhesives are used in various end-user industries, such as automotive, construction, packaging, footwear, etc. With the increasing automotive production in the world, the demand for adhesives is increasing significantly as in 2017 it has recorded a growth of 2.36%, and reached a total of 97,302,534 vehicles. The adhesives industry in India is rapidly rising due to the growing construction sector. The Indian government's ‘Housing for All by 2022’ is a major game changer for the industry. The growth of commercial real estate has been driven largely by service sectors, especially IT-ITeS. The government’s initiative to develop smart cities, and to build almost 30 million homes by 2022, is likely to propel the demand for adhesives in the country. With the growing automotive production, footwear, and packaging segments in the countries, such as China, India, and Japan, the Asia-Pacific region dominated the market in 2017. Due to these reasons, the usage of adhesives increases, in turn, increasing the demand for the microcrystalline wax.

Slack Wax Market Regional Analysis:

Asia-Pacific region dominated the global market share in 2017. With increasing focus toward personal appearance, aging population, and quality of living in the countries such as China and India, the use of cosmetic and personal care products is increasing in the region. In India, the market for cosmetics is growing since the last decade. In 2017, it has increased by 11.5%, as compared to 2016. The growth of the packaging industry in the country is mainly driven by the food and the pharmaceutical packaging sectors. The large and growing Indian middle-class population, along with the growth in organized retailing in the country, is fueling growth in the packaging industry. Owing to various packaging requirements, such as light weighing products, different sizes, shelf life, and ease of recycling, the demand for packaging has been increasing in India. All the aforementioned factors, in turn, boost the demand for microcrystalline wax in the Asia-Pacific region during the forecast period.

Some of the promising companies leading the Slack Wax Market:

• American Refining Group Inc.
• BP
• ExxonMobil Corporation
• Industrial Raw Materials LLC
• IRANOL
• IRPC Public Company Limited
• Meade-King, Robinson & Co. Ltd
• Nikatis
• Panama Petrochem Ltd
• Persol Corporation
• Royal Dutch Shell
• THAI OIL

This research report includes following segmentation for the Slack Wax Market Size and forecast until 2023

Slack Wax Market - By Type

• Light
• Heavy

Slack Wax Market - By Application

• Emulsions
• Candles
• Construction Boards
• Polishes
• Rust Protection
• Paraffin Manufacturing
• Other Applications

Slack Wax Market– By Geographical Segmentation:

• Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • ASEAN Countries
  • Rest of Asia-Pacific

• North America

  • United States
  • Canada
  • Mexico
  • Rest of North America

• Europe

  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Rest of Europe

• Latin America

  • Brazil
  • Argentina
  • Rest of South America

• Middle East & Africa

  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa

Reasons to Purchase Slack Wax Market Report

• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Which resin type is expected to witness the highest demand for spray adhesive?
• Which region is expected to witness fastest growth during the forecast period?
• Identify the latest developments, market shares and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet (In excel).