The global market for bio-wax is expected to increase steadily, at a CAGR of 4% from 2022 to 2032. The sector was valued at US$ 2 billion in 2021 and is predicted to grow to US$ 2.4 billion by 2022. In the long run, the bio-wax market is expected to reach US$ 3.6 billion in 2032.
Bio-wax is a class of water-soluble organic polymers derived from bio-based basic ingredients. It is also produced as a byproduct of the biodiesel manufacturing process. Bio-wax is used in cosmetics and personal care items, water protection systems, fire logs, infrastructure construction, and paints and coatings.
To substitute petroleum-based wax and synthetic olefins, bio-waxes were produced. It is often a low-odor component group that does not interfere with complicated scent profiles. The functions and qualities of bio-wax are determined by its molecular weight and polymer branching.
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Impact of COVID-19 on Bio-Wax Market
The pandemic has placed an enormous strain on the chemicals & materials industry including its workforce, supply-chain, infrastructure, and market players. The first wave of COVID-19 that hit the regions across the globe, compelled the chemicals & materials industry to adapt and develop its infrastructure and innovate in a short period of time. Against this backdrop, FMI tracks the changes, improvement, profits and losses in the industry among the existing players as well as the new entrants within the industry.
The FMI’s recently published report presents detailed insights into the impact of COVID-19 on the Bio-Wax market and innovative strategies adopted by the market players to tackle the challenges encountered due to the pandemic.
Important Questions Answered in the Bio-Wax Market Report
- How will the Bio-Wax market expand through 2032?
- Which region is the most lucrative in the Bio-Wax market?
- What are the recent technological developments in the Bio-Wax market?
- What are key challenges and competition threats faced by Bio-Wax market players?
- Who are prominent players leading the Bio-Wax market?
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Bio-Wax Market: Key Segmentation
Extensive study of the geographical regions offers detailed insights on the market performance across major regions along with descriptive info graphics, datasets, and list of tables.
By Type:
- Anima Bio-Wax
- Plant Bio-Wax
By Application:
- Bio-Wax for Cosmetics & Personal Care Products
- Bio-Wax for Water Protection Systems
- Bio-Wax for Infrastructure Building
- Bio-Wax for Paints & Coatings
Bio-Wax Market: Competitive Evaluation
The FMI’s Bio-Wax market report provides a comprehensive analysis on key players operating in the Bio-Wax market. Some of the key players are:
- Biosil
- Duraflame
- BioJouvance
- Fisch
- Remmers
- Chant Oil Co. Ltd.
With a detailed analysis on positioning of top companies across the globe, emerging players, strategic players and innovators, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of key players over the forecast period.
Why Buy FMI’s Report?
- Extensive analysis on high growth niche markets across major regions
- Detailed assessment on key segments and sub-segments
- Recent and upcoming strategies tracked of manufacturers for the Bio-Wax market
- Reliable information on new product launches, technological advancements, and more
- Valuable insights on the impact of regulatory framework on the global Bio-Wax market
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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