[FURL=https://www.industryarc.com/Report/16411/wax-emulsion-market.html?utm_source=Briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Wax Emulsion Market[/FURL] is forecast to reach $750.1 million by 2026, after growing at a CAGR of 6.3% during 2021-2026. Wax emulsion is a stable mixture of one or more waxes in water. Extensive use of wax emulsion in paints and coatings for enhanced properties such as matting & gloss, hydrophobicity, soft-touch, abrasion & rub resistance augments the market growth. Wax emulsions are also used in paper sizing and in textile industries for waterproofing of textile substrates. Surging demand for wax emulsions like synthetic wax, carnauba, candelilla waxes, alcohol ethoxylates from emerging countries like Brazil, Argentina, and India further drives the growth of the market. Key Takeaways
The U.K has shown significant growth in the wax emulsion market due to its high demand from wood processing industries for the protection of woods from water and prevent rotting. In addition, the U.K consumption of particleboard reached 2774000 m3 in 2019, according to Wood Panel Industries Federation (WPIF).
Rising popularity of natural waxes such as beeswax, Carnauba, synthesized from plants and animal drives the market growth.
Due to COVID-19 pandemic, the entire world has gone into a lockdown period due to which operations of various end-use industries such as textile, automotive, construction are disruptively stopped, which is affecting the wax emulsion market.
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Wax Emulsion Market Segment Analysis - Application
Wood Coatings segment is projected to witness the highest CAGR of 7.8% during the forecast period. Wax emulsions are extensively used in paints & coatings as they provide a consistent neutral color and offer formulators maximum flexibility in pigmented applications. Wax emulsions also improve the durability of water-based paints, by offering excellent scratch- and abrasion resistance. An increase in building and constructions has proliferated the demand for paint & coatings.
Wax Emulsion Market Drivers
Growing demand from automotive industries
Increasing use of paper and pulp as a substitute for plastics
Major players in the Wax Emulsion market are Atlanta AG, BASF SE, Sasol Ltd., The Dow Chemical Company, Nippon Seiro Co. Ltd., Exxon Mobil Corp., Danquinsa GmbH, Lubrizol Corporation, Momentive Performance Chemical Inc., and Michelman Inc., among others.
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