FT Wax Market Size worth over $1.2bn by 2025
Published Date: October 4, 2019 Authors: Kunal Ahuja, Amit Rawat
FT Wax Market size is set to surpass USD 1.2 billion by 2025; according to a new research report by Global Market Insights, Inc.
The FT wax market should witness significant growth from 2019 to 2025 as the product derived from synthesis gas have enhanced performance properties including low viscosity, high degree of linearity, crystallinity and thermal stability.
Strong demand as an additive in printing inks, paints, varnishes and coatings formulation due to better functionality under high temperature supporting product sales. The gas to liquids (GTL) technology incorporated in the production process uses carbon monoxide and hydrocarbons as sustainable feedstock along with natural gas to produce syngas.
Positive application outlook across construction, automotive, and packaging industries fueling product demand
Extensive product usage for polymer processing and asphalt manufacturing will offer myriad opportunities to industry participants. As per industry trends, the global polymers and plastics market was estimated at around USD 600 billion in 2017. However, with increasing regulatory pressure manufacturers are expected to adopt advanced materials with superior properties and low environmental impact.
Factors such as liner structure and low viscosity will support the product demand across polymer processing industry. Also, paradigm shift for using materials having environmental properties characterized by inherent biodegradability and non-cumulative effects will further support the market advancement.
Browse key industry insights spread across 250 pages with 148 market data tables and 9 figures & charts from the report, “FT Wax Market Size By Application (Paint and Coating, Resin, Plastics and Synthetic Rubber, Tire, Polish and Other Sanitation Goods, Corrugated and Solid Fiber Boxes, Printing Ink), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Spain, Russia, Poland, China, India, Japan, South Korea, Australia, Thailand, Malaysia, Indonesia, Brazil, Argentina, Saudi Arabia, UAE, South Africa, Qatar), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Enhanced demand for performance additive in paints and coatings formulation
Key benefits including minimal VOC emissions, superior gloss retention, durability, scratch resistance, and high-quality finish are among the major factors driving the application scope across paint industry.
Micronisation technology used in the production process offers sharp particle size distribution thus enabling formulation of paints with enhanced consistency. When used for coatings application the creasing effect of water marks and stripes can be obtained when used in the fine powder form. Adding powder coating resin can reduce energy consumption & screw torque, lubricate the extrusion process, and can improve the overall production efficiency.
Stringent regulations in line with low carbon footprint will enhance the product scope across Europe
Europe FT wax market is expected to hold notable share of above 25% by 2025 owing to strong demand for low cost and environmentally friendly additives for cosmetics, coatings, candles, building material, chlorinated paraffin, chewing gum, crayon, food, ink and polishes.
The market growth in the region is attributed to factors such as high petroleum prices, low production efficiency from mineral derived sources along with declining production by refineries and blenders. Also, because of growing pressure from regulatory bodies regarding pollution concerns, GTL technology is anticipated to expand which will further the product sales for coming years.
The companies operating in the FT wax market are focusing on increasing production capacity to gain significant market share. As the demand for gas derived product increases, the competitive landscape is expected to become more intense with key vendors focusing more on technology development and pricing strategies to stay ahead of competition. Some key players include DEUREX AG, Nippon Seiro Co., Ltd, Shell, Sasol, Evonik Industries, etc.
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 segments:
- Paint and coating
- Resin, plastics, and synthetic rubber
- 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
- Asia Pacific
- South Korea
- Latin America (LATAM)
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa