Asia Pacific Wax Emulsion Market Forecast to 2031
Asia Pacific Wax Emulsion Market Forecast to 2031 – Regional Analysis – by Type (Polyethylene, Polypropylene, Paraffin, Vegetable-Based, and Others) and Application (Paints & Coatings, Printing Inks, Textile, Personal Care, Packaging, and Others)
$2,485 – $3,885
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Description
Innovations in Wax Emulsion Market Boost Asia Pacific Wax Emulsion Market
The key manufacturers operating in the wax emulsion market are investing significantly in strategic development initiatives such as product innovation and R&D to attract a wide customer base and enhance their market position. Several researchers are focused on enhancing the thermal and physical properties of wax emulsions to improve their characteristics and product life. Moreover, multifunctional additives are incorporated into the wax emulsion to add characteristics such as antimicrobial properties and UV resistance. Researchers across the globe are studying the enhancement of surface properties of emulsions made from nano-sized wax particles. Other innovations in the wax emulsion market include the development of wax emulsions that can be modified according to the requirements of targeted applications and environmental changes such as temperature and pH. Scientists and researchers are working on the incorporation of nanotechnology in wax emulsion to enhance the material properties. Nanotechnology is used for the efficient and uniform application of wax emulsions. For instance, in December 2022, researchers from the University of Freiburg (Germany), SIRRIS (Belgium), and Indian Institute of Technology (India), developed a method for emulsification of carnauba wax by a reaction of maleic anhydride, resulting in the encapsulation of the wax into stabilized organic nanoparticles. Thus, rising product innovations and research are expected to create lucrative opportunities in the wax emulsion market during the forecast period.
Asia Pacific Wax Emulsion Market Overview
China is one of the high-skilled manufacturing hubs. In contrast, India, South Korea, and Taiwan are considered attractive business destinations for companies looking for medium-skilled manufacturing infrastructure and low labor costs. As per the International Trade Administration, total investment in China’s infrastructure during the 14th Five-Year Plan period (2021-2025) is estimated to reach ~US$ 4.2 trillion. According to the International Organization of Motor Vehicle Manufacturers report, motor vehicle production in Asia Pacific was estimated to be ~48.96 million units in 2022. China has emerged as one of the largest electric vehicle markets globally, supported by government policies promoting electric vehicles. Furthermore, paints & coatings are widely used in the automotive and construction industries for various applications. According to the World Trade Statistical Review 2022, China and India were reported to be the world’s two largest textile exporters in 2021. According to the China National Textile and Apparel Council, Chinese textile exports accounted for US$ 323.3 billion in 2022. As per the World Trade Organization data, Vietnam’s textile exports to the US accounted for US$ 18.24 billion in 2022, a rise compared to US$ 14.37 billion in 2021. The wax emulsion is used as a softener and lubricant in textile finishing, thereby enhancing fabric properties, stain resistance, durability, and water repellency. Therefore, the growth in construction, electric vehicles, and the textile industry in the region is expected to drive the demand for wax emulsions.
Asia Pacific Wax Emulsion Market Revenue and Forecast to 2031 (US$ Million)
Asia Pacific Wax Emulsion Market Segmentation
The Asia Pacific wax emulsion market is categorized into type, application, and country.
Based on type, the Asia Pacific wax emulsion market is segmented into polyethylene, polypropylene, paraffin, vegetable-based, and others. The others segment held the largest market share in 2023.
In terms of application, the Asia Pacific wax emulsion market is categorized into paints & coatings, printing inks, textile, personal care, packaging, and others. The paints & coatings segment held the largest market share in 2023.
By country, the Asia Pacific wax emulsion market is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific wax emulsion market share in 2023.
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 some of the leading companies operating in the Asia Pacific wax emulsion market.
Summary Info
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According to Business Market Insights’ research, the Asia Pacific wax emulsion market was valued at US$ 1,136.89 million in 2023 and is expected to reach US$ 1,696.48 million by 2031, registering a CAGR of 5.1% from 2023 to 2031. Rising demand for polyethylene wax emulsions and development of bio-based wax emulsions are among the critical factors attributed to drive the Asia Pacific 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 wax emulsion market growth.
On the contrary, fluctuations in raw material prices hamper the growth of Asia Pacific wax emulsion market.
Based on type, the Asia Pacific wax emulsion market is segmented into polyethylene, polypropylene, paraffin, vegetable-based, and others. The others segment held 33.4% market share in 2023, amassing US$ 380.20 million. It is projected to garner US$ 571.84 million by 2031 to register 5.2% CAGR during 2023-2031.
In terms of application, the Asia Pacific wax emulsion market is categorized into paints & coatings, printing inks, textile, personal care, packaging, and others. The paints & coatings segment held 34.4% share of Asia Pacific wax emulsion market in 2023, amassing US$ 390.62 million. It is anticipated to garner US$ 556.56 million by 2031 to expand at 4.5% CAGR during 2023-2031.
Based on country, the Asia Pacific wax emulsion market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 57.1% share of Asia Pacific wax emulsion market in 2023. It was assessed at US$ 649.39 million in 2023 and is likely to hit US$ 1,000.03 million by 2031, registering a CAGR of 5.5% during 2023-2031.
Key players operating in the Asia Pacific wax emulsion market are BASF SE, Hexion Inc, Repsol SA, Sasol Ltd, The Lubrizol Corp, Clariant AG, Michelman Inc, Allinova BV, H&R Group, and Productos Concentrol SA., among others.
In Oct 2021, H&R Group, a global sustainable refiner and marketer of specialty plasticizers, extender oils, softeners, and waxes headquartered in Hamburg, Germany, is investing US$ 48.3 million in a specialty manufacturing plant in Lumut, Perak, Malaysia.
o Highlights key business priorities to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific wax emulsion market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific wax emulsion market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Wax Emulsion Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Raw Material Suppliers
4.2.2 Wax Emulsion Manufacturers
4.2.3 Distributors/Suppliers
4.2.4 End-Use Industry
4.3 Porters Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.1 Threat of New Entrants
4.3.2 Intensity of Competitive Rivalry
4.3.3 Threat of Substitutes
5. Asia Pacific Wax Emulsion Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth of Paints & Coatings Industry
5.1.2 Rising Demand for Polyethylene Wax Emulsions
5.2 Market Restraints
5.2.1 Fluctuations in Raw Material Prices
5.3 Market Opportunities
5.3.1 Innovations in Wax Emulsion Market
5.4 Future Trends
5.4.1 Development of Bio-Based Wax Emulsions
5.5 Impact Analysis
6. Wax Emulsion Market – Asia Pacific Analysis
6.1 Asia Pacific Wax Emulsion Market Overview
6.2 Wax Emulsion Market Volume (Kilo Tons), 2020-2031
6.3 Wax Emulsion Market Volume Forecast and Analysis (Kilo Tons)
6.4 Wax Emulsion Market Revenue (US$ Million), 2020-2031
6.5 Wax Emulsion Market Forecast and Analysis
7. Asia Pacific Wax Emulsion Market Volume and Revenue Analysis – by Type
7.1 Polyethylene
7.1.1 Overview
7.1.2 Polyethylene: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
7.1.3 Polyethylene: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Polypropylene
7.2.1 Overview
7.2.2 Polypropylene: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
7.2.3 Polypropylene: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Paraffin
7.3.1 Overview
7.3.2 Paraffin: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
7.3.3 Paraffin: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Vegetable-Based
7.4.1 Overview
7.4.2 Vegetable-Based: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
7.4.3 Vegetable-Based: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
7.5.3 Others: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
8. Asia Pacific Wax Emulsion Market Revenue Analysis – by Application
8.1 Paints & Coatings
8.1.1 Overview
8.1.2 Paints & Coatings: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Printing Inks
8.2.1 Overview
8.2.2 Printing Inks: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Textile
8.3.1 Overview
8.3.2 Textile: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Personal Care
8.4.1 Overview
8.4.2 Personal Care: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Packaging
8.5.1 Overview
8.5.2 Packaging: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9. Asia Pacific Wax Emulsion Market – Country Analysis
9.1 Asia Pacific
9.1.1 Asia Pacific Wax Emulsion Market Breakdown, by Key Countries, 2023 and 2031 (%)
9.1.1.1 Asia Pacific Wax Emulsion Market Volume and Forecast and Analysis – by Country
9.1.1.2 Asia Pacific Wax Emulsion Market Revenue and Forecast and Analysis -by Country
9.1.1.3 Australia Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 Australia Wax Emulsion Market Breakdown by Type
9.1.1.4 China Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 China Wax Emulsion Market Breakdown by Type
9.1.1.5 India Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 India Wax Emulsion Market Breakdown by Type
9.1.1.6 Japan Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.6.1 Japan Wax Emulsion Market Breakdown by Type
9.1.1.7 South Korea Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.7.1 South Korea Wax Emulsion Market Breakdown by Type
9.1.1.8 Rest of APAC Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.8.1 Rest of APAC Wax Emulsion Market Breakdown by Type
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 BASF SE
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Hexion Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Repsol SA
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Sasol Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 The Lubrizol Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Clariant AG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Michelman Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Allinova BV
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 H&R Group
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Productos Concentrol SA
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Research Team
Table 1. Asia Pacific Wax Emulsion Market Segmentation
Table 2. Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
Table 3. Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 5. Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 6. Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 7. Asia Pacific Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons) – by Country
Table 8. Asia Pacific Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 9. Australia Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 10. Australia Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 11. Australia Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 12. China Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 13. China Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. China Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 15. India Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 16. India Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 17. India Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 18. Japan Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 19. Japan Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 20. Japan Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 21. South Korea Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 22. South Korea Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 23. South Korea Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 24. Rest of APAC Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 25. Rest of APAC Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 26. Rest of APAC Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 27. Heat Map Analysis by Key Players
Figure 1. Asia Pacific Wax Emulsion Market Segmentation, by Country
Figure 2. Ecosystem: Wax Emulsion Market
Figure 3. Asia Pacific Wax Emulsion Market Porter’s Analysis
Figure 4. Wax Emulsion Market – Key Market Dynamics
Figure 5. Global Electric Car Sales (2016-2023)
Figure 6. Wax Emulsion Market Impact Analysis of Drivers and Restraints
Figure 7. Wax Emulsion Market Volume (Kilo Tons), 2020-2031
Figure 8. Wax Emulsion Market Revenue (US$ Million), 2020-2031
Figure 9. Wax Emulsion Market Share (%) – Type, 2023 and 2031
Figure 10. Polyethylene: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 11. Polyethylene: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Polypropylene: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 13. Polypropylene: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Paraffin: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 15. Paraffin: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Vegetable-Based: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 17. Vegetable-Based: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Others: Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 19. Others: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Wax Emulsion Market Share (%) – Application, 2023 and 2031
Figure 21. Paints & Coatings: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Printing Inks: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Textile: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Personal Care: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Packaging: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Others: Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Asia Pacific Wax Emulsion Market, by Key Country – Revenue (2023) (US$ Million)
Figure 28. Asia Pacific Wax Emulsion Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 29. Australia Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 30. China Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 31. India Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 32. Japan Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 33. South Korea Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 34. Rest of APAC Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 35. Company Positioning & Concentration
The List of Companies – Asia Pacific Wax Emulsion Market
o BASF SE
o Hexion Inc
o Repsol SA
o Sasol Ltd
o The Lubrizol Corp
o Clariant AG
o Michelman Inc
o Allinova BV
o H&R Group
o Productos Concentrol SA
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