Petroleum waxes are soft colorless solids obtained from petroleum. Petroleum waxes are of three types, namely paraffin wax, microcrystalline wax, and petroleum jelly.

Seattle, WA -- (SBWire) -- 09/30/2019 --The Global Petroleum Waxes Market Trends and Outlook 2019- 2027, covering several characteristics such as market Summery, market dynamic, Generation, Investment Trends, Regulations and Company Profiles. The industry analysis specialists that offer comprehensive information and fundamental of the market Key Players globally.

The Petroleum Waxes market report highlights capacity and generation trends from 2018 to 2026. Also, The report provides in-depth analysis of global Petroleum Waxes Market with forecasts up to 2026. A detailed coverage of the market with specific policies pertaining to Petroleum Waxes is provided in the report. The analysis additionally provides company snapshots of a number of the main market participants. The market analysis report speaks about the growth rate of Petroleum Waxes market till 2026 manufacturing process, key factors driving this market with sales, revenue, and price analysis of top manufacturers of Digital Mapping Cameras (Dmc) Market, distributors, traders and dealers of Petroleum Waxes Market.

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Market Dynamics

Increasing application of petroleum waxes in industrial coatings, candles, defoaming agent, surface finishing agents, cosmetics, plastic & rubber processing aids, pharmaceuticals, and electrical insulations is expected to drive the demand for petroleum waxes. This in turn is expected to fuel growth of the petroleum waxes market over the forecast period. It is also used in lubricants, preservatives for histology (tissue) samples, friction reducers on surfaces, and in solid-propellant for hybrid rocket-motors.

In 2015, 41.5% of the market revenue was generated by sales of candles, which is one of the major applications of petroleum waxes. This is owing to its increasing use for aromatherapy in spa, hotels, and other commercial buildings. However, volatile prices of crude oil and harmful emissions are major factors that are expected to restrain the petroleum waxes market growth.

Market Outlook

On the basis of region, the global petroleum waxes market is segmented into North America, Latin America, Asia Pacific, Middle East, and Africa. Asia Pacific holds dominant position in the petroleum waxes market, owing to increasing demand for products such as candles, lubricants, and cosmetics in the region. China, India, Japan, South Korea, Singapore, Taiwan, and Thailand are the major consumers of petroleum waxes, as it has wide range of applications in a variety of industries including automotive, chemicals, and construction. Moreover, increasing population and rising disposable income in emerging economies such as China and India in the region is expected to increase demand for consumer goods using petroleum waxes. This in turn is expected to fuel growth of the petroleum waxes market over the forecast period.

North America is another major consumer for petroleum waxes, especially in rubber latex for automotive industry and coatings for construction and furniture industry. Due to economic meltdown, Europe is expected to witness comparatively slower growth than other regions.

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Key Players

Some of the major players operating the global petroleum waxes market include BASF SE, Clariant International Ltd., Evonik Industries AG, Exxon Mobil Fuels & Lubricants, Honeywell International, Lubrizol Corp., Dow Corning, and Blended Waxes Inc. among others.

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