Malaysia Wax Market to be Dominated by Candles Segment through 2028
Malaysia
Wax Market is expected to grow in the forecast period 2024-2028 due to the
growing demand
of the wax material from cosmetic industry.
According to TechSci Research
report, “Malaysia Wax Market- By Region, Competition,
Forecast and Opportunities, 2018-2028F”, Malaysia wax market size is anticipated to increase at a substantial
rate in the forecast period. A
significant factor fueling the growth of Malaysia wax market is the increasing demand
from candle industry. Candles are progressively becoming luxury items and
decorative gift items. The rising popularity of candles for providing dim light
and perfume for enhancing the ambiance of the room is rising the demand of wax.
In addition, the increasing use of scented candles for gifting is expected to
drive the candle industry. Paraffin wax type product is highly utilized in the
formulation of candles as it has the unique property that help to retain both
scent and color for an extremely long duration which in turn enhancing the
growth of Malaysia Wax Market in the forecast period.
Greatest
naturally occurring threats to tires and all other synthetic and natural
rubbers are ozone and ultraviolet (UV) light. For ozone protection,
manufacturers add wax to their compounds. This activates the migration of the
antiozonant wax to the surface of the tire forming a thin, protective wax film.
This migration intensifies with increasing temperature. Antiozonant waxes, with
high wax content are used, for instance like tire sidewall protection. Additionally,
antiozonant waxes may act as a transport medium for other antiozonants and antioxidants
(like amines and phenolic derivates). Furthermore, polymer-based wax is used
for improving and enhancing the process parameters and properties of the
finished products and has diverse applications in the plastic industry. For
example, Polyethylene wax is a lubricant in polyvinyl chloride with abrasion
resistance and molding complexity characteristics, which results in propelling
the growth of Malaysia Wax Market.
For
instance, Honeywell provides high performance additives including polyethylene
waxes and wax blends which can be used in plastic and rubber processing.
Furthermore, the market is
being further stimulated by increasing demand from packaging, adhesives,
cosmetics, paints & coatings, etc.
However,
fluctuations in crude oil prices can have a direct impact on the cost of
producing wax. To maintain the quality, many manufacturers must navigate these
price fluctuations, resulting in restraining the growth of the market.
Moreover, declining use of fossil-based wax in the packaging industry as well
as availability of various alternatives, will further slowdown the market
growth.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the "Malaysia Wax Market"
Malaysia Wax Market is segmented based on type, end user industry, and region. Based
on the type, the
market is divided into petroleum & mineral wax, synthetic wax, and natural
wax. Petroleum and mineral wax segment are expected to hold the largest market
share in the forecast period, as it is used for manufacturing candles, crayons,
friction reducers, waterproofing, coating & polish, tires, electric
appliances, matchsticks, fabrics, and cosmetic products.
Based on the end user industry,
the market is categorized into candles, packaging, adhesives, plastics &
rubber, cosmetics, paints & coatings, and others. Candles segment is expected
to hold the largest market share in the forecast period. Candles wax find
application in various healthcare therapy application like growing demand for
aromatherapy through scented candles which have become a critical household
essential as well as provide relaxation & stress reduction.
Major companies operating in
the Malaysia Wax Market are:
- BASF (Malaysia)
Sdn. Bhd.
- Clariant
(Malaysia) Sdn Bhd.
- Britz Networks
Sdn. Bhd.
- Honeywell
International Sdn. Bhd.
- Dow Chemical
Pacific Ltd.
- Evonik Malaysia
Sdn Bhd.
- ExxonMobil
Exploration and Production Malaysia Inc.
- Fuchs Petrolube
(Malaysia) Sdn. Bhd.
- H & R
Malaysia Sdn. Bhd.
- Excelube
Marketing Sdn Bhd.
Download Free Sample Report
Customers
can also request for 10% free customization on this report.
“Malaysia
Wax Market has seen significant growth in recent years, driven by the increasing
demand from cosmetic sector, as wax is used as binding agents and emulsifiers
that help ingredients to adhere together, ensuring product integrity and
preventing separation or phase separation. Along with this, wax enhances
product texture and stability and also contributes in the creamy, smooth, and
luxurious feel of various products, including lipsticks, creams, balms, and
lotions. Moreover, increasing demand of bio-based wax such as beeswax, carnauba
wax and candelilla wax in the personal care and pharmaceutical sector due to their
valuable benefits, creating huge prospects of market growth during the forecast
period” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
Malaysia
Wax Market, By Type (Petroleum & Mineral Wax, Synthetic Wax, Natural Wax),
By End User Industry (Candles, Packaging, Adhesives, Plastics & Rubber,
Cosmetics, Paints & Coatings, Others), By Region, Competition, Forecast
& Opportunities, 2018-2028F, has evaluated the future
growth potential of Malaysia Wax Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Malaysia Wax Market.
Contact
Mr.
Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com