Portland, OR, April 30, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Wax Market garnered $9.61 billion in 2017 and is expected to reach $11.78 billion by 2023, registering a CAGR of 3.4% during the forecast period, 2017-2023. The report provides a comprehensive analysis of the top winning strategies, industry dynamics, market size & estimations, key market segments, and competitive landscape. It is a useful resource for industry players and investors as it enables them to make informed decisions regarding their business and devise strategies to grow in the space.
Request Report Sample at: https://www.alliedmarketresearch.com/request-sample/4576
Upsurge in demand for wax from the packaging industry and increase in use of wax as a base ingredient in cosmetic products propel the growth of the wax market. On the other hand, high cost of synthetic and natural wax is expected to limit the growth of the market. Conversely, increase in awareness about wax-based natural cosmetic products is likely to create new growth opportunities in the wax market.
Among types, the paraffin/mineral wax segment captured more than three-fourths of the market share and would maintain its revenue lead throughout the forecast period, 2017 - 2023. Nonetheless, the synthetic wax segment would grow at the fastest CAGR of 6.7% from 2017 to 2023. The other type analyzed in the report is natural wax.
Among applications, the packaging segment would manifest the fastest CAGR of 3.8% from 2017 to 2023. However, the candles segment contributed about three-fifths of the market share in 2017 and is expected to dominate throughout the forecast period. The report also analyzes applications such as emulsions, hot melts, floor polishes, and others.
Among regions, the market in Asia-Pacific is expected to dominate the market through 2023 and would grow at the fastest CAGR of 4.2% from 2017 to 2023. However, the North American market captured the largest market share of around 31% in 2017. The other regions studied in the report include Europe and LAMEA.
Do Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/4576
The key market players analyzed in the report include Dow Corning, Akzo Nobel N.V., Evonik Industries, Arch Chemicals, BASF SE, Hexion Inc., Honeywell International, Lubrizol Corporation, The Clorox Company, and Momentive Performance Materials.
About Us:
Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.