New York, NY -- (SBWire) -- 01/15/2021 --Using the process of Fischer–Tropsch, Fischer Tropsch (FT) wax has been synthesized from CO (carbon monoxide) and H2 (hydrogen monohydride). For the production of liquid hydrocarbons, the process is a crucial reaction in coal liquefaction and gas-to-liquids technology. In the gasification process, the FT wax's feedstocks are produced from coal, biomass, and natural gas. Due to several unique properties like hardness, high melting point, and low viscosity in extreme temperatures, the FT wax has been important to be used in coatings, inks, adhesives, lubricants, personal care, and plastics. Furthermore, this wax is crucial in rubber extrusion for improving several rubber processing properties.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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Market Drivers
Due to reduced production efficiency from petroleum- and mineral-derived sources resulting in rising fuel prices, the FT wax is witnessing an elevated demand in the market. Moreover, soaring demand for coal and natural-gas-derived products than various conventional petroleum products is contributing to the industry's growth. Several other crucial factors responsible for the steady growth include the scenario of export-import, suppliers' power of bargaining, value chain analysis, analysis of downstream demand, and upstream raw materials. However, in terms of demand and production level, the market has been affected due to the pandemic of COVID-19. Restrictions on outdoor & indoor events due to lockdowns have taken a toll on the market's growth.
Regional Outlook
The region of Europe is a prominent market for FT wax, owing to the high adoption of technologies like GTL. Fast implementation of advanced technologies and favorable business and government policies in coal reserves are further promoting the growth of the industry in several countries. North America is presumed to be leading the market because of the rapid expansion of automobile and resin processing.
Competitive Terrain:
The global Fischer Tropsch Wax market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.
The leading companies operating across the global Fischer Tropsch Wax market are listed below:
Sasol
Shell
Nippon Seiro Co., Ltd
Nanyang Saier.
By Type (Revenue, USD Million; 2017–2027)
C80–C100 Type
C35–C80 Type
C100+ Type
By Application (Revenue, USD Million; 2017–2027)
Adhesives
Inks
Coatings
Polymer Processing
Textiles
Polishes
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Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Fischer Tropsch Wax Market Segmentation & Impact Analysis
Chapter 5. Fischer Tropsch Wax Market, By Type Insights & Trends
Chapter 6. Fischer Tropsch Wax Market, By Application Insights & Trends
Chapter 7. Fischer Tropsch Wax Market, By End Use Insights & Trends
Chapter 8. Fischer Tropsch Wax Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
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Fischer Tropsch Wax Market Opportunities, Top Manufactures, Industry Growth, Share, Size, Regional Analysis and Global Forecast to 2027
Using the process of Fischer–Tropsch, Fischer Tropsch (FT) wax has been synthesized from CO (carbon monoxide) and H2 (hydrogen monohydride).