Middle East & Africa Wax Emulsion Market Forecast to 2031

At 4.8% CAGR, Middle East & Africa Wax Emulsion Market is Projected to be Worth US$ 124.63 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa wax emulsion market was valued at US$ 85.69 million in 2023 and is expected to reach US$ 124.63 million by 2031, registering a CAGR of 4.8% from 2023 to 2031. Growth of paintings & coatings industry and rising demand for polyethylene wax emulsions are among the critical factors attributed to drive the Middle East & Africa wax emulsion market growth.

Paints & coatings are used for decorative purposes and enhancing surface properties such as corrosion resistance, scratch-resistance, adhesion, appearance, and water resistance. Paints & coatings are increasingly used in end-use industries such as construction, furniture, packaging, automotive & transportation, and other industrial applications. Wax emulsions are an integral component of paints & coatings. Polyethylene wax emulsions are used in aqueous coatings due to their characteristics such as physical stability, fine particle size, anti-scuff properties, waterproofing, gloss, and ease of handling. Wax emulsions are also used in wood polishes and finishes and outdoor timber treatment. Wax emulsions render wood with abrasion resistance, waterproofing, and anti-blocking properties. It also finds application in metal components and automotive coatings. The growing global sales of electric vehicles drive the demand for high-performance coatings and electrical insulating coatings.

According to the International Energy Agency, the electric car market has witnessed exponential growth in the past few years, with reported global sales of more than 10 million electric cars in 2022.

In March 2022, Saudi Arabia announced setting up its first electric vehicle manufacturing plant in the country as the government plans to ensure 30% of all vehicles in Riyadh’s capital city run on electricity by 2030.
In April 2022, Lucid Group announced a new agreement with long-time supporter Saudi Arabia to purchase up to 100,000 electric vehicles over a 10-year period. Furthermore, as per OICA, Morocco witnessed a 15% year-on-year increase in vehicle production from 4,03,007 in 2021 to 4,64,864 in 2022. Thus, growth in the paints & coatings industry fuels the wax emulsion market.

On the contrary, fluctuations in raw material prices hamper the growth of Middle East & Africa wax emulsion market.

Based on type, the Middle East & Africa wax emulsion market is segmented into polyethylene, polypropylene, paraffin, vegetable-based, and others. The others segment held 31.4% market share in 2023, amassing US$ 26.93 million. It is projected to garner US$ 39.36 million by 2031 to register 4.9% CAGR during 2023-2031.

In terms of application, the Middle East & Africa wax emulsion market is categorized into paints & coatings, printing inks, textile, personal care, packaging, and others. The paints & coatings segment held 34.8% share of Middle East & Africa wax emulsion market in 2023, amassing US$ 29.86 million. It is anticipated to garner US$ 41.47 million by 2031 to expand at 4.2% CAGR during 2023-2031.

Based on country, the Middle East & Africa wax emulsion market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 33.5% share of Middle East & Africa wax emulsion market in 2023. It was assessed at US$ 28.71 million in 2023 and is likely to hit US$ 38.25 million by 2031, registering a CAGR of 3.7% during 2023-2031.

Key players operating in the Middle East & Africa wax emulsion market are BASF SE, Hexion Inc, Repsol SA, Sasol Ltd, The Lubrizol Corp, Clariant AG, Michelman Inc, H&R Group, and Productos Concentrol SA., among others.

In June 2023, Concentrol updated its catalog of wax emulsions, introducing a wide range of EMULTROL products that cater to various application sectors. These wax or oil emulsions are formulated using diverse materials, offering unique and versatile properties that make them ideal for a wide range of industries and applications.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa wax emulsion market.
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 Middle East & Africa 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 Middle East & Africa market trends and outlook coupled with the factors driving the Middle East & Africa 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.

TABLE OF CONTENTS

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. Middle East & Africa 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. Middle East & Africa 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 – Middle East & Africa Analysis
6.1 Middle East & Africa 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. Middle East & Africa 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. Middle East & Africa 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. Middle East & Africa Wax Emulsion Market – Country Analysis
9.1 Middle East & Africa
9.1.1 Middle East & Africa Wax Emulsion Market Breakdown, by Key Countries, 2023 and 2031 (%)
9.1.1.1 Middle East & Africa Wax Emulsion Market Volume and Forecast and Analysis – by Country
9.1.1.2 Middle East & Africa Wax Emulsion Market Revenue and Forecast and Analysis -by Country
9.1.1.3 South Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 South Africa Wax Emulsion Market Breakdown by Type
9.1.1.4 Saudi Arabia Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 Saudi Arabia Wax Emulsion Market Breakdown by Type
9.1.1.5 United Arab Emirates Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 United Arab Emirates Wax Emulsion Market Breakdown by Type
9.1.1.6 Rest of Middle East & Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.6.1 Rest of Middle East & Africa 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 H&R Group
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 Productos Concentrol SA
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
13. Appendix
13.1 About The Research Team

LIST OF TABLES

Table 1. Middle East & Africa 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. Middle East & Africa Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons) – by Country
Table 8. Middle East & Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 9. South Africa Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 10. South Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 11. South Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 12. Saudi Arabia Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 13. Saudi Arabia Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. Saudi Arabia Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 15. United Arab Emirates Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 16. United Arab Emirates Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 17. United Arab Emirates Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 18. Rest of Middle East & Africa Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 19. Rest of Middle East & Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 20. Rest of Middle East & Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 21. Heat Map Analysis by Key Players

LIST OF FIGURES

Figure 1. Middle East & Africa Wax Emulsion Market Segmentation, by Country
Figure 2. Ecosystem: Middle East & Africa Wax Emulsion Market
Figure 3. 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. Middle East & Africa Wax Emulsion Market, by Key Country – Revenue (2023) (US$ Million)
Figure 28. Middle East & Africa Wax Emulsion Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 29. South Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 30. Saudi Arabia Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 31. United Arab Emirates Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 32. Rest of Middle East & Africa Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 33. Company Positioning & Concentration