Industrial Wax Market | Exactitude Consultancy Reports

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Industrial Wax Market by Type (Fossil-Based Wax, Synthetic Wax, Bio-Based Wax), by Application (Candles, Packaging, Coatings & Polishes, Hot-Melt Adhesives, Tires & Rubber, Cosmetics & Personal Care, Food) and Region, Global trends and forecast from 2022 to 2029

The Industrial Wax Market Is Expected To Grow At 4.7% CAGR From 2022 To 2029. It Is Expected To Reach Above USD 11 Billion By 2029 From USD 7.3 Billion In 2020.

Segment Analysis
The Industrial Wax Market is segmented based on type, application and region.

Based on type, the market is segmented into fossil-based wax, synthetic wax, and bio-based wax. Due to the rising demand for candles for consumer goods applications, the sector of wax derived from fossil sources dominated the market. The majority of waxes made from fossil fuels are made up of paraffin and microcrystalline, which are derived from petroleum wax. The market for synthetic wax is anticipated to increase significantly. Fully synthetic and partially synthetic waxes are two different types of synthetic wax. These waxes have uses in hot-melt adhesives, tire & rubber, polishing & castings, and other areas.

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