Carnauba Wax Market is to grow by USD 74.47 million from 2022 to 2027- Technavio

NEW YORK, Oct. 23, 2023 /PRNewswire/ -- The carnauba wax market is expected to grow by USD 74.47 million from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 4.69% during the forecast period, according to Technavio. Rising consumer awareness about natural and eco-friendly products is notably driving the carnauba wax market. However, factors such as the Side effects of carnauba wax may impede market growth. The market is segmented by product (type 1, type 3, and type 4), end-user (cosmetics, food, automotive, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the carnauba wax market including Akrochem Corp., Brasil Ceras, Carnauba do Brasil, Chestnut Products Ltd., Feast Watson, Foncepi Natural Waxes Ltd., KahlWax, Norevo GmbH, Pontes Industria de Cera ltd., Poth Hille and Co. Ltd., Strahl & Pitsch Inc., Turtle Wax Inc., Frank B. Ross Co, Inc., Koster Keunen, and Spartan Chemical Co. Inc..The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a FREE Sample Report.

Carnauba Wax Market 2023-2027: Company Analysis

Akrochem Corp: The company offers carnauba wax which is a naturally occurring wax, extracted from the carnauba palm.

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Carnauba Wax Market 2023-2027: Segmentation

Product

• The type 1 segment is estimated to witness significant growth during the forecast period. Type 1 Carnauba wax is one of the finest and purest carnauba waxes. A premium-grade wax subjected to a rigorous treatment process to remove impurities and produce a clean and polished product is present in this segment. Furthermore, owing to its high melting performance and good water resistance, this segment offers a durable protective coat on the vehicle's surface.

• end-user (cosmetics, food, automotive, and others

Geography 

• APAC is estimated to contribute 38% to the growth of the global market during the forecast period. The presence of a large industrial and manufacturing sector in the region is an important factor. Carnauba waxes are becoming more and more common in the automotive industry for car detailing and protection. In addition, to satisfy the consumer's demand for superior quality, natural ingredients, several Asian cosmetic corporations are increasingly using their formulations. 

• North America, Europe, South America, and the Middle East and Africa

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Related Reports:

The polypropylene (PP) market size is estimated to grow at a CAGR of 4.34% between 2022 and 2027. The market size is forecast to increase by USD 29.16 billion. 

The wax market size is estimated to grow by USD 1,723.06 million between 2022 and 2027 exhibiting a CAGR of 3.24%.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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SOURCE Technavio