FT Wax Market Size By Application (Paint & Coating, Resin, Plastics, And Synthetic Rubber, Tire, Polish And Other Sanitation Goods, Corrugated And Solid Fiber Boxes, Printing Ink) Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025

Continuous supply of FT wax derived from gas to liquid has competitive advantage over conventional petroleum-based fuels

FT Wax Market size exceeded USD 750 million, globally in 2018 and is estimated to grow at over 7.6% CAGR between 2019 and 2025.

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Fischer-Tropsch wax is a synthetically produced chemical by the polymerization of carbon monoxide under high pressure. These compounds are extracted out by distillation process along with fuel products with melting points ranging between 45°C and 106°C. They are used in variety of applications including candles, coatings, packaging, and personal care products. Factors such as low viscosity, high softening point and high melting point supports FT wax market demand across paint and coatings, plastics, tire, polish, printing ink and other sanitation goods application.
 

Crude oil supply & demand gap along with increasing gas to liquids fuel production will support the industry development. Synthetic properties of Fischer-Tropsch (FT) derived products can be varied according to production process owing to which it can be used for variety of applications. The FT technology process ranges in carbon efficiency between 25% to 50% and thermal efficiency of about 50%. The overall production efficiency of the process is about 80% which is significantly higher than petroleum and mineral derived process. Ability of the product to address low production cost or continuous supply compared to petroleum derived hydrocarbons will create new growth opportunities for FT wax market participants.
 

Shift in consumer preference for enhanced aesthetic appearance and attractive textures will propel product adoption rate across paints & coatings. Key benefits including enhanced UV protection, low cost, easy to use and color retention capabilities are among the major factors driving FT wax market revenue. Rapid expansion of paints & coatings industry with growing construction and automotive production will create positive business outlook for manufacturers. The paints & coatings industry was estimated to be valued over USD 160 billion in 2017 and anticipated to witness year on year growth over 5% up to 2025.
 

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Incorporation of Fischer-Tropsch technology in polymer processing industry will fuel product sales

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Resin, plastic and synthetic rubber application is anticipated to account for over 45% FT wax market share by 2025. Owing to high melting point of Fischer-Tropsch products, they are extensively used to formulate adhesive resins. Adhesive resins formulated from FT technology can be used for variety of applications including plastic processing, paints, printing inks, hot melts, technical emulsions, cosmetics, heavy compounds & candle additives and polishes. Strong functional properties including improved heat resistance and low viscosity of resins derived from FT products will offer growth prospects to the industry participants.
 

Increasing application of Fischer-Tropsch wax for improving functionality of processing agents for modified plastic products will support the FT wax market development for coming years. FT resins contributes to the dispersion and excellent smoothness of fillers in the production of modified plastics and color masterbatch. It can also be used as an external lubricant for Poly Vinyl Chloride (PVC). Low viscosity can improve the production speed of the product and also helps to disperse pigments and fillers in mixing, especially in extrusion of high viscosity system.
 

Additionally, Fischer-Tropsch wax is also used in rubber extrusion to improve processing and extrusion properties of rubber. It also works as internal lubricant to reduce friction and also improves overall hardness of the final product. Increasing demand for synthetic rubber from automotive industry for car tyre and other sectors including footwear, foam etc. will promulgate the FT wax market size as it is being extensively used for carrying out extrusion process in synthetic rubber industry.
 

 Supply demand gap of crude oil propelled GTL business across North America

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North America accounted for share of more than 35% in the FT wax market in 2018. As per world bank report, crude oil prices are 30% higher in 2018 compared to that of previous year. Significant decline in fuel supplies due to increasing crude oil prices has instigated demand for Fischer-Tropsch technology across North America. Further, downward trend in blender and refinery production from the U.S., along with increasing importance of trade, has further propelled the demand for synthetically derived fuels.
 

Shortage in hard and medium compounds with high viscosity has resulted in increased product demand from processing industry for formulating inks, adhesives, and PVC lubrication. Positive application outlook of FT extracted fuels across processing industry coupled with declining production of waxes derived from petroleum and mineral source will further support the FT wax market growth across this region. As per American Chemistry Council, resin production in North America grew by 5.8% to 119.6 billion pounds in 2018. This will further fuel the market growth across this region owing to application of FT compounds in formulating adhesive resins.
 

Production capacity expansion should gain competitive advantage

In February 2018, Sasol announced that it has completed its USD 900 million FT products capacity expansion project in South Africa. This expansion project has helped the company to pipeline its strategy as leading supplier of Fischer-Tropsch derived products globally. With this project completion, South Africa is now one of the leading countries of wax production globally.
 

Most of the companies are involved in various strategic initiatives to strengthen their market presence and gain a competitive edge in the value chain. FT wax market share is consolidated due to the presence of multinational and domestic players. Key industry players include Shell Ltd, Nippon Seiro Co., Ltd, Nanyang Saier, Sasol Limited, DEUREX AG, Liaoning Fushun TongYi Special Paraffin Wax Products Co., Ltd, and Evonik Industries,
 

The FT wax market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2014 to 2025, for the following segment:
 

By Application

• Paint and coating
• Resin, plastics, and synthetic rubber
• Tire
• Polish and other sanitation goods
• Corrugated and solid fiber boxes
• Printing ink
• Others (Candles)

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Russia
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Thailand
  • Malaysia
  • Indonesia
• Latin America (LATAM)
  • Brazil
  • Argentina
  • Mexico
• Middle East & Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
  • Qatar