Ozone Market Reports projects that the Microcrystalline Wax market size will grow from XX Million USD in 2018 to XX Million USD by 2024, at an estimated CAGR of XX%. The base year considered for the study is 2017, and the market size is projected from 2019 to 2024.
Nowadays, transportation of goods, fruits and food products across the world is rapidly growing, which is leading to growing demand for packaged food. This increasing demand for packaged food can majorly be attributed to changing food habits and preferences. Thus, growing transportation of packaged foods will create immense opportunities for the food packaging industry throughout forecast period. Mixtures of hard paraffin, microcrystalline waxes with resins and plastics are used for impregnations, coatings and contact adhesives used in food packaging to ensure longer life of fruits/foods. Microcrystalline wax protects fruits from moisture, thereby keeping them safe for a longer duration. Thus, the demand for microcrystalline wax will increase due to the growing food packaging industry in the coming years.
By Market Players:
Indian Oil Corporation Ltd, Calumet Specialty Products Partners, L.P., Sonneborn LLC, Koster Keunen, Kerax Limited, The International Group, Inc, Asian Oil Company, CEPSA, Nippon Seiro Co., Ltd., Sasol, MOL Group, HollyFrontier Refining & Marketing LLC
By Microcrystalline wax Grade
By Product Form
Granule, Pellets, Slabs, Bulk liquids,
Packaging, Adhesives, Pharmaceuticals, Plastics, Cosmetics, Chewing gum, Rubber, Candles, Others
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