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Refined wax is a non-toxic form of wax having wide applications in products produced by pharmaceuticals, coatings, paints, adhesives, personal care, cosmetics, skin care therapy and many other industries. Natural wax is a blend of hydrocarbons and fatty esters and is mainly derived from plants, fruits, peels and leaves where no chemical reaction is involved. Synthetic wax may be defined as a mixture of number of oils functioning as a stabilizing and binding agent enhancing a product’s texture.

A petroleum-based or natural-based product undergoes a refining process with the end product remaining solid at room temperature. Natural wax has several major forms such as soy wax, jojoba, rice bran wax, tallows and many other substitute products of wax. Synthetic wax is available in the form of foamed bitumen used in the pavement of roads construction.

Refined Wax is a hard substance that provides resistance towards corrosion. The substance is a blend of fatty acids, esters and alcohols that is available in various different forms. Refined wax has the capability of inhibiting resistance to oxidation and moisture. The most common usage of all types of wax is in the making of candles. Refined wax can either be petroleum based or natural based, and the products can be used for several industries.

Europe refined wax market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.

COMPETITIVE ANALYSIS: EUROPE REFINED WAX MARKET

Some of the major players operating in this market are The International Group, Inc., Calumet Specialty Products Partners, L.P., Sage Oil LLC, Tannin Corporation, Exxon Mobil Corporation, The Lubrizol Corporation, American Refining Group, Inc., Ergon, Inc., Sonneborn LLC, Sudbury Boat Care Products, Health & Beauty Natural Oils Co., Inc., DEUREX AG, michelman, inc., SQI Group, BASF SE, Clariant, Mitsui Chemicals, Inc., Lion Chemtech Co., Ltd., ceronas GmbH, ALTANA, SCG Chemicals Co., Ltd., Cangzhou Bee Source Wax Co., Ltd and Changge Huading Wax Industry Co.,Ltd.

Product Launch:

  • In January 2018, the Cangzhou Bee Source Wax Co., Ltd company developed a product namely propolis which had antibacterial effect inhibiting replication of virus in the liver cells making hepatitis B negative thus proving itself a treatment for the liver diseases. It relieves liver toxins and reduces liver poisoning. This marks the company with a good product portfolio with medicinal properties in the market.
  • In June 2016, DEUREX AG founded an alternative for the amide waxes namely Vegetable EBS Wax. The alternate product was basically produced from the sugar cane plant which was a pure form of amide wax and had a wide application area in ink printings, coatings, plastics, hot melts and synthetic rubbers & fibers.

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SEGMENTATION: EUROPE REFINED WAX MARKET

Europe refined wax market is segmented into two notable segments which are by type and application.

  • On the basis of type, the market is segmented into natural wax, synthetic wax and specialty wax
    • In February, BASF SE lead to the foundation of a new sub company namely, BASF Digital Solutions S.L. in Spain for new progress in digital transformations providing innovative IT solutions in the digital market.
  • On the basis of application, the market is segmented into building materials, candles & hotmelts, chlorinated paraffins, adhesive and coating, cosmetics and pharmaceuticals, chewing gum, crayons, fire logs, food, plastic processing, printing inks & lacquers, polishes, road construction, textile industry, tire & rubber, packaging and others.
    •  In November 2018, Clariant announced the investment for the production capacity of its ethylene oxide (EO) facility in Gendorf, Germany. The expansion will help in development of EO-based specialties for variety of industries including home care, skin care and crop solutions. It will help in enhancing profits in developed and developing countries.

RESEARCH METHODOLOGY: EUROPE REFINED WAX MARKET

Primary Respondents: Key Industry Participants, Subject-Matter Experts (SMEs), C-level Executives of Key Market Players, Market Intelligence Managers, National Sales Managers and Industry Consultants.

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