Wax Emulsion Market is expected to reach US$ 3.34 billion by 2031

Rising Demand for Polyethylene Wax Emulsions to Bolster Wax Emulsion Market Growth

According to our latest study on “Wax Emulsion Market Size and Forecast (2020–2031), Global and Regional Growth Opportunity Analysis - by Type and Application,” the market size is expected to grow from US$ 2.31 billion in 2023 to US$ 3.34 billion by 2031; it is estimated to register a CAGR of 4.7% from 2023 to 2031. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Wax emulsions are formulated additives made of fine and stabilized wax particles homogeneously distributed in water. Raw materials required to manufacture wax emulsion vary according to the type of wax emulsion. Raw materials required for the production of wax emulsion include wax, surfactants, water, and preservatives. Other raw materials, such as preservatives or soluble salts of polyvalent metal, can also be added during processing. Raw material suppliers provide a range of waxes, such as paraffin wax, microcrystalline wax, semi-microcrystalline wax, and polyethylene wax, needed for wax emulsion manufacturing. The general production process for wax emulsion includes formulation, blending, emulsification, homogenization, cooling, quality control, packaging, and storage. The manufacturers provide wax emulsion through their network of distributors, suppliers, and independent dealers operating across different regions. Later, the produced wax emulsions are used in the manufacturing of paints and coatings, textiles, paper and packaging, printing inks, and the cosmetics industry.

Wax Emulsion Market Breakdown – by Region

Further, the market for wax emulsion is driven by factors such as increasing demand for bio-based products, growth in the construction and automotive sectors, and technological advancement in emulsion manufacturing processes. The rising focus on sustainable solutions and the adoption of water-based formulations are further boosting the market growth. Key players in the wax emulsion market are continuously investing in research and development to enhance product performance and expand their portfolio to cater to the evolving needs of customers. Furthermore, the wax emulsion market analysis has been performed by considering the following segments: type and application. Based on type, the polyethylene segment is anticipated to hold a significant wax emulsion market share by 2031.

The wax emulsion market report emphasizes the key factors driving the market. The rising demand for polyethylene wax emulsions is mainly driving the wax emulsion market growth. Polyethylene wax emulsions are used in a wide range of applications, such as textile finishing, leather auxiliaries, polishes, paper coatings, and the packaging industry. This type of wax emulsion offers rub and mar resistance, gloss retention, and anti-block properties. It is used in resin finishing agents, water-based varnishes, and water-based paints. Polyethylene waxes are also used in combination with petroleum waxes for application in food packaging. The Food and Drug Administration allows the utilization of polyethylene wax emulsion in indirect food contact applications under olefins regulations. The growth rate of polyethylene wax demand is dependent on the performance of several industries, including paints & coatings, printing ink, leather & textile, and adhesives. Polyethylene-based wax emulsions are used as tack modifiers in hot-melt adhesives production and processing aid in the manufacturing of rubber. It is a stable softener; therefore, it is widely used in textile processing. The textile industry has witnessed a transition toward sustainability and a circular economy, positively influencing the demand for water-based wax emulsions. Polyethylene wax emulsion is processed to form a water-based solution, thereby eliminating the use of harmful solvents. It contributes to the production of lightweight and durable textiles. The growing circular fashion has further prompted the recycling of treated textiles, reducing textile waste. Similarly, rising demand for water-based polyethylene wax emulsion from numerous end-use industries, including paints & coatings and printing inks, fuels the market growth.

In terms of revenue, Asia Pacific dominated the wax emulsion market share in 2023. China is a major market for wax emulsion in Asia Pacific. The growing construction sector, increased awareness about energy-efficient buildings, and stringent regulations related to energy savings contribute to the growth of sustainable construction materials demand in Australia. Further, India is among the largest manufacturers of textiles and garments. India aims to achieve textile production worth US$ 250 billion and exports worth US$ 100 billion by 2030. In 2021, the Indian government launched the Production Linked Incentive (PLI) scheme with an approved outlay of US$ 1.29 billion, aimed at promoting the production of man-made fibers’ apparel, man-made fibers’ fabrics, and technical textiles. Thus, the strong presence of the textile industry in India drives the demand for wax emulsions.

One of the wax emulsion market trends includes the development of bio-based wax emulsions. Bio-based polymers are environmentally friendly and are the subject of extensive research in various fields. Bio-based materials exhibit sustainability, thereby driving their use in commercial applications. The easy availability of natural raw materials for the production of bio-based polymers is an added factor fueling its supply and demand. Further, due to rising concerns and awareness about the social and environmental impacts of synthetic wax emulsion systems, customers are shifting toward the utilization of bio-based wax such as carnauba and beeswax. The rising demand for bio-based materials has prompted manufacturers to develop bio-based wax emulsions for various applications.

BASF SE, Hexion Inc, Repsol SA, Sasol Ltd, The Lubrizol Corp, Clariant AG, Michelman Inc, Allinova BV, H&R Group, and Productos Concentrol SA. are among the prominent players profiled in the wax emulsion market report. Players operating in the global market focus on providing high-quality products to fulfill customer demand. Also, they focus on adopting various strategies such as new product launches, capacity expansions, partnerships, and collaborations in order to stay competitive in the market. The wax emulsion market forecast can help stakeholders plan their growth strategies. In June 2021, Omya signed an agreement with Michelman to distribute Michelman's surface modifiers and wax emulsion product line to the paints and coating markets in Canada. In January 2023, Ter Chemicals announced an agreement with Allinova to be an exclusive distributor of Allinova wax emulsions in Poland. The wide product portfolio ranges from wax emulsions, flame retardants, crosslinking agents, repellents, and solvents to plastic dispersions. In October 2021, H&R Group, a global sustainable refiner and marketer of specialty plasticizers, extender oils, softeners, and waxes headquartered in Hamburg, Germany, invested US$ 48.3 million in a specialty manufacturing plant in Lumut, Perak, Malaysia.

The report includes the segmentation of the wax emulsion market as follows: The global wax emulsion market is segmented on the basis of type, application, and geography. Based on type, the market is segmented into polyethylene, polypropylene, paraffin, vegetable-based, and others. By application, the market is segmented into paints and coatings, printing inks, textile, personal care, packaging, and others. By geography, the wax emulsion market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The market in Europe is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The wax emulsion market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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