Sunday, February 25, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Business 3 Key Insights on Competitive Landscape in the Global Wax Market: Ken...

3 Key Insights on Competitive Landscape in the Global Wax Market: Ken Research

Global Players Dominate the Market Holding ~40% Share Despite the Presence of about ~350 Competitors Comprising a Large Number of Country-Niche Players and Global Players, finds a recent market study on the Global Wax Market.

Wax is a broad category of organic compounds that are lipophilic and bendable solids at room temperature that tend to melt at a higher temperature. It includes lipids and higher alkanes that are insoluble in water but soluble in nonpolar, organic solvents.  Wax is generally derived from petroleum and bio-based resources which are extracted from crude oil refining. These materials include base oil, natural gas, compounds like polyethylene, plants, and the skin of animals. Wax has applications across paints, bundling, hardware, electrical, ink and coatings, elastic, pharmaceuticals, and beautifying agents.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

Global Players Constitute ~10% of the Total Number of Competitors, While Country Niche Players Dominate Representing ~65% of Total Competitors.

A comprehensive competitive analysis conducted during The Research Study found that the Global Wax Market is highly competitive with ~350 players, including globally diversified players, regional players, and a large number of country-niche players with their niche in advancement in wax solutions for multiple end-user industries like candle manufacturer, cosmetics and pharmaceutical manufacturers. The majority of the global wax solution companies, including Sasol Ltd., HollyFrontier Corporation, Royal Dutch PLC, Mitsui Chemicals Inc., and Sinopec Corporation., maintained their leading positions in the forecast period.

The majority of the country’s players offer end-to-end solutions to the customer and industries to refining, manufacture cosmetics, pharmaceutical, and polishing. Country Niche players seeking to grow and diversify quickly.

Global Wax Market

Acquisition and Strategic Investments Drive the Major Players in Formulating their Key Strategy

Detailed comparative analysis of key competitors available within The Research Study shows that numerous specialist companies such as Sasol Ltd., HollyFrontier, and Royal Dutch PLC more are highly focused on providing a significant number of wax solutions and advanced techniques that can be used across end-user industries. In addition, numerous companies and organizations are aggressively investing in advanced technology, and mergers and acquisitions to have a strong foothold in the market.

  • In November 2021, HollyFrontier acquired Puget Sound Refinery for approx. US$ 600 million. With this acquisition, the company is expecting to enhance its business, particularly in the Pacific Northwestern region.
  • In July 2022, Royal Dutch PLC USA and Midstream Partners L.P. both agreed to a acquisition to acquire all of the common units representing limited partner interests. Midstream Partner assets include crude oil and refined product pipelines.

Global Wax Market

Request for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDE3

Increasing Government Regulation, and Investments propelling the growth of Wax Market

  • According to the European Union, the importing and manufacturing of candles requires various safety standards, labeling, and documentation. It also describes the test methods for fire safety of indoor candles. The European Union also states the documentation of the product stating that the manufacturers and importers is required to keep records demonstrating the compliance of the products in order for the authorities to hold accountability on the relevant parties and avoid potential risks.
  • In India CSIR-IIP and EIL fine-tuned the technology based on Numaligarh Refinery Limited (NRL) incorporated several technological advances such as application of ‘Pinch Analysis’ in the Solvent Recovery Section, substantially reduced capital costs and made the process more energy-efficient. The NRL wax plant is designed to produce 45,000 MTPA of ‘Paraffin Wax’ and 4,500 MTPA of ‘Microcrystalline Wax’. This is likely to boost the production of the NRL plant.

For more information on the research report, refer to the below link:

Global Wax Industry: Ken Research

Related Report

5 Key Insights on US$ 15 Bn Opportunity in Global Wax Market: Ken Research

Follow Us

LinkedIn | Instagram | Facebook | Twitter 

Contact Us: –

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

RELATED ARTICLES

Cloud Computing Market Trends, Growth, and Outlook

Introduction The Cloud Computing Market has witnessed unprecedented growth in recent years, reshaping the way businesses operate and manage their IT infrastructure. As of the...

From Bean to Billions: A Flavorful Journey into the Hot Beverage Market

  In the bustling landscape of the beverage industry, hot beverages stand out as perennial favorites, offering warmth, comfort, and a delightful sensory experience. As...

Exploring the Dynamics of the Global Gold Mining Market Trends, and Growth Prospects

Introduction: Understanding the Landscape of the Gold Mining Industry The Global Gold Mining Industry stands as a cornerstone of the economy, providing essential raw material...

Most Popular

Skin Care Market Segmentation: Unveiling Needs and Targeting Strategies

The skincare market is a vast and ever-evolving landscape, encompassing a diverse range of products and catering to a multitude of needs. To navigate this complex...

Biopsy Devices Market Size, Share, Trends & Forecast 2029

The global Biopsy Devices Market is set to experience robust growth in the coming years, driven by a combination of factors such as increasing...

A Growing Industry of Protected Cultivation, Insights on Share and Growth

Introduction to Protected Cultivation Protected cultivation, also known as greenhouse farming, revolutionizes traditional agricultural practices by providing controlled environments for optimal plant growth. This article...

Emerging Trends in Indian Test Prep Market: AI, AR, and the Future of Learning

In the bustling realm of India's education sector, the test preparation market stands as a pivotal domain, shaping the academic journeys of millions of...