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North America Wax Emulsion Market Forecast to 2031
North America 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 – $3,885
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Description
Growth of Paints & Coatings Industry Fuel North America Wax Emulsion Market
Paints & coatings are used for decorative purposes and enhancing surface properties such as corrosion resistance, scratch-resistance, adhesion, appearance, and water resistance. Paints & coatings are increasingly used in end-use industries such as construction, furniture, packaging, automotive & transportation, and other industrial applications. Wax emulsions are an integral component of paints & coatings. Polyethylene wax emulsions are used in aqueous coatings due to their characteristics such as physical stability, fine particle size, anti-scuff properties, waterproofing, gloss, and ease of handling. Wax emulsions are also used in wood polishes and finishes and outdoor timber treatment. Wax emulsions render wood with abrasion resistance, waterproofing, and anti-blocking properties. It also finds application in metal components and automotive coatings. The growing global sales of electric vehicles drive the demand for high-performance coatings and electrical insulating coatings. According to the International Energy Agency, the electric car market has witnessed exponential growth in the past few years, with reported global sales of more than 10 million electric cars in 2023.
According to the US Census Bureau, the total construction spending in the US accounted for US$ 740.8 billion during the first five months of 2023. The investment was spent on the development of offices, commercial spaces, transportation, highways, and streets. The growth in the global construction industry propels the demand for architectural paints & coatings. According to the American Coatings Association report published in February 2023, in 2021, the US coatings industry shipped architectural coatings worth more than US$ 14 billion; industrial OEM coatings worth US$ 8.7 billion; and special purpose coatings such as marine paints, military-specified coatings, and automotive refinish paints worth US$ 4 billion. Thus, growth in the paints & coatings industry fuels the wax emulsion market.
North America Wax Emulsion Market Overview
Wax emulsions are used in paints & coatings to enhance the surface properties of materials, such as abrasion resistance, water resistance, and durability. In the automotive industry, polyethylene wax is used in non-built detergent systems for polishing applications. According to the International Organization of Motor Vehicle Manufacturers, North America registered a production of 14.79 million vehicles in 2023. As per a report by the American Automotive Policy Council, car sales are expected to exceed 17.7 million vehicles per year by 2025. According to the International Trade Administration data released in 2023, the automotive industry is one of the major sectors of Mexico, accounting for 3.5% of the country’s GDP and 20% of the manufacturing gross domestic production. Therefore, the increasing automotive production is driving the demand for paints & coatings. According to the American Coatings Association, architectural coatings are the largest sector and segment of the paint industry in the US, accounting for more than 50% of the total volume of coatings produced annually. According to the US Department of Transportation Federal Highway Administration, the US Government signed the Infrastructure Investment and Jobs Act in 2021, encompassing long-term infrastructure investment, providing US$ 550 billion over fiscal years 2023-2026 for the construction of roads, bridges, and mass transit, and water infrastructure. North American manufacturers are focusing on research and development to improve the functionality and performance of industrial coatings. Industrial coatings are included in finishes and polishes used for automobiles, packaging, transport equipment, appliances, furniture, and building products. The region also marks the presence of major packaging companies, namely International Paper Co, Westrock Co, Berry Global Group, Ball Corp, and Crown Holdings Inc. Thus, the factors mentioned above are expected to drive the demand for the wax emulsion market in North America during the forecast period.
North America Wax Emulsion Market Revenue and Forecast to 2031 (US$ Million)
North America Wax Emulsion Market Segmentation
The North America wax emulsion market is categorized into type, application, and country.
Based on type, the North America 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 North America 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 North America wax emulsion market is segmented into the US, Canada, and Mexico. The US dominated the North America wax emulsion market share in 2023.
BASF SE, Hexion Inc, Repsol SA, Sasol Ltd, The Lubrizol Corp, Clariant AG, Michelman Inc, H&R Group, and Productos Concentrol SA., are some of the leading companies operating in the North America wax emulsion market.
Summary Info
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According to Business Market Insights’ research, the North America wax emulsion market was valued at US$ 405.14 million in 2023 and is expected to reach US$ 553.09 million by 2031, registering a CAGR of 4.0% from 2023 to 2031. Development of bio-based wax emulsions and rising demand for polyethylene wax emulsions are among the critical factors attributed to drive the North America wax emulsion market growth.
Bio-based polymers are environmentally friendly and are the subject of extensive research in various fields. Bio-based materials exhibit sustainability, thereby driving their use in commercial applications. The easy availability of natural raw materials for the production of bio-based polymers is an added factor fueling its supply and demand. Further, due to rising concerns and awareness about the social and environmental impacts of synthetic wax emulsion systems, customers are shifting toward the utilization of bio-based wax such as carnauba and beeswax. Stringent government regulations pertaining to the utilization of toxic chemicals across the world have encouraged many market players to develop nontoxic alternatives and green emulsions, aiding global sustainability goals. The rising demand for bio-based materials has prompted manufacturers to develop bio-based wax emulsions for various applications. In 2022, Münzing Corporation developed WÜKONIL NAT 1000, a bio-based and biodegradable wax dispersion, for wood and architectural coating applications. Thus, the replacement of petroleum-derived polymers with bio-based materials or polymers, otherwise sourced from natural sources or natural waxes, is expected to become a significant trend in the wax emulsion market.
On the contrary, fluctuations in raw material prices hamper the growth of North America wax emulsion market.
Based on type, the North America wax emulsion market is segmented into polyethylene, polypropylene, paraffin, vegetable-based, and others. The others segment held 30.4% market share in 2023, amassing US$ 123.30 million. It is projected to garner US$ 169.13 million by 2031 to register 4.0% CAGR during 2023-2031.
In terms of application, the North America wax emulsion market is categorized into paints & coatings, printing inks, textile, personal care, packaging, and others. The paints & coatings segment held 33.4% share of North America wax emulsion market in 2023, amassing US$ 135.16 million. It is anticipated to garner US$ 174.99 million by 2031 to expand at 3.3% CAGR during 2023-2031.
Based on country, the North America wax emulsion market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.4% share of North America wax emulsion market in 2023. It was assessed at US$ 337.93 million in 2023 and is likely to hit US$ 458.08 million by 2031, registering a CAGR of 3.9% during 2023-2031.
Key players operating in the North America 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 2021, Omya signed an agreement with Michelman to distribute Michelman’s surface modifiers and wax emulsion product line to the paints and coating markets in Canada.
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 North America 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 North America market trends and outlook coupled with the factors driving the North America 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. North America 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
4.2.5 List of Vendors in Value Chain
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. North America 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 – North America Analysis
6.1 North America Wax Emulsion Market Overview
6.2 Wax Emulsion Market Volume (Kilo Tons), 2020-2031
6.3 North America Wax Emulsion Market Volume Forecast and Analysis (Kilo Tons)
6.4 Wax Emulsion Market Revenue (US$ Million), 2020-2031
6.5 North America Wax Emulsion Market Forecast and Analysis
7. North America 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. North America 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. North America Wax Emulsion Market – Country Analysis
9.1 North America
9.1.1 North America Wax Emulsion Market Breakdown, by Key Country, 2023 and 2031 (%)
9.1.1.1 North America Wax Emulsion Market Volume and Forecast and Analysis – by Country
9.1.1.2 North America Wax Emulsion Market Revenue and Forecast and Analysis -by Country
9.1.1.3 United States Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 United States Wax Emulsion Market Breakdown by Type
9.1.1.4 Canada Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 Canada Wax Emulsion Market Breakdown by Type
9.1.1.5 Mexico Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 Mexico 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
Table 1. North America Wax Emulsion Market Segmentation
Table 2. North America Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons)
Table 3. North America 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. North America Wax Emulsion Market – Volume and Forecast to 2031 (Kilo Tons) – by Country
Table 8. North America Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 9. United States Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 10. United States Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 11. United States Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 12. Canada Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 13. Canada Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. Canada Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 15. Mexico Wax Emulsion Market -Volume and Forecast to 2031 (Kilo Tons) – by Type
Table 16. Mexico Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 17. Mexico Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 18. Heat Map Analysis by Key Players
Figure 1. North America Wax Emulsion Market Segmentation, by Country
Figure 2. Ecosystem: North America Wax Emulsion Market
Figure 3. North America Wax Emulsion Market-Porter’s Analysis
Figure 4. North America 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. North America 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. North America Wax Emulsion Market, by Key Country – Revenue (2023) (US $ Million)
Figure 28. North America Wax Emulsion Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 29. United States Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 30. Canada Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 31. Investment in building construction in Canada (2018-2023)
Figure 32. Mexico Wax Emulsion Market – Revenue and Forecast to 2031 (US$ Million)
Figure 33. Company Positioning & Concentration
The List of Companies – North America 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 H&R Group
o Productos Concentrol SA
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