Published on : Apr 30, 2018
Albany, New York, April 30, 2018: A new research study that offers market forecast and analysis on the global synthetic and natural waxes market has been added to the repository of Market Research Hub (MRH). The research study titled “Synthetic and Natural Waxes: Global Markets” offers in-depth insights and analysis on the key factors that are driving the growth of the market.
According to the research study, the global synthetic and natural waxes market is likely to witness steady growth on account of wide ranging applications in a range of industries. The demand for these waxes is directly linked to the broader developments in the economy and industrial output. As the global economy is on a relatively stable position, industrial output is on a solid footing, which has led to steady demand for raw materials such as synthetic and natural waxes. Fluctuations in the economic scenario are likely to impact the growth of the market during the assessment period.
Although the outlook on the global synthetic and natural waxes remains positive, the growing protectionist measures by developed economies can stymie growth during the assessment period. In addition to protectionist policies, growing antidumping and antitrade policies by developed countries can also hurt the sentiments of the synthetic and natural wax producers, a majority of which are located in Asia.
According to the report, demand for natural waxes is likely to witness an increase on account of mounting concerns about the impact of synthetic waxes. Although manufacturers have been trying to scale up production of natural waxes, challenges associated with limited source and extraction processes have meant that supply has rarely met the demand. In the absence of steady supply, synthetic waxes have remained the preferred choice. Recent advances in extraction of natural waxes are likely to have an impact on this landscape in the near future.
According to the business intelligence study, candle manufacturing remains one of the most prominent end uses of synthetic and natural waxes. This end-use segment accounts for a significant revenue share of the total market. In addition to candle manufacturing, demand for synthetic and natural waxes is also likely to remain robust in the manufacture of pharmaceuticals, adhesives, coatings & inks, and rubber.
The research study also profiles the leading players in the global synthetic and natural waxes market. An analysis on the business and product strategies of some of the leading players in the market has been offered for the perusal of the readers. An analysis on the financial positioning and product portfolio is included in the report.
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