Production and Processing of Wax (Vegetable Waxes, Synthetic Mineral Waxes, Bayberry Wax, Candelilla Wax, Carnauba Wax, Cotton Wax, Esparto Wax, Esparto Wax, Japan Wax, Ouricury Wax, Palm Waxes, Rice-oil Wax, Sugar Cane Wax, Ucuhuba Wax, Paraffin Wax)
Thursday, February 23, 2017
Production and Processing of Wax (Vegetable Waxes, Synthetic Mineral Waxes, Bayberry Wax, Candelilla Wax, Carnauba Wax, Cotton Wax, Esparto Wax, Esparto Wax, Japan Wax, Ouricury Wax, Palm Waxes, Rice-oil Wax, Sugar Cane Wax, Ucuhuba Wax, Paraffin Wax , Synthetic Mineral Wax, Ozocerite Wax, Montan Wax, Durmont Wax)
This growth in demand is driven by a number of new uses for the material. Markets for wax are truly diverse, ranging from simple fuel in manufactured fire logs and candles, to practical applications such as adhesives, anti-oxidation agents in tires, and sizing in construction materials, to even more exotic uses in cosmetics and foods. Although, the largest single consumer of wax in North America remains the packaging area, followed by candles, and then building materials. On the demand side of the equation, waxes are used in thousands of applications around the world, with candles being the predominant application on a global basis. Candles are estimated to account for 43% of the waxes consumed.
Wax is used as high value product for energy reserve in the world. It not only provides various good products for general public, but increases petrochemical plant revenue also. Renewable alternatives to wax are enjoying new opportunities as a result of a raft of factors. Among these are a dwindling supply of petroleum-based waxes, skyrocketing paraffin wax prices, and a growing consumer preference for greener products.
Growing paraffin wax consumption for cardboard and paper coating mainly in food industry owing to the excellent protection and water barrier properties is expected to stimulate demand over the forecast period. Rising demand for paper in food packaging owing to its biodegradability is likely to fuel demand.
Increasing application in manufacturing hot melt adhesives, industrial & surface protection coatings, rubber & plastic processing aids, pharmaceuticals, electrical insulation, metal castings and fabric proofing & impregnation is expected to fuel demand over the forecast period.
Growing use of alternatives including soy wax, polyethylene wax and beeswax is expected to restrict market penetration. However, the introduction of deoiling technology to produce paraffin wax from slack wax is further expected to open new opportunities over the upcoming years.
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