FT Wax Market revenue to cross USD 1.1 Billion by 2028, Says Global Market Insights Inc.

Some of the prominent market players in the Fischer-Tropsch (FT) wax industry include Sasol, Brenntag, Yi Mei New Material Tech. Co. Ltd., Ter Hell and Co. Gmbh, Michel man, Industrial Raw Materials LLC, and Globalwax LLC.

SELBYVILLE, Del., May 3, 2022 /PRNewswire/ -- The FT wax market value is projected to reach USD 1.1 billion by 2028, according to a new research report by Global Market Insights Inc. Rising consumer focus on hygiene and sanitation coupled with numerous benefits offered by product such as low viscosity, high softening point, and high melting points supporting market demand across plastic, rubber, packaging, and other consumer goods application will propel the industry outlook.

FT wax industry is poised to witness a CAGR of 6.5% from 2022 to 2028 on account of rising consumer awareness regarding the benefits of FT wax. The implementation of waxes from FT technology in various industries owing to their capability to improve product strength and resistance will instigate the market inclination. They also enhance the external traits of the product over which the wax is applied by providing better shine and glaze to it resulting in an enhanced consumer demand.

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some major findings of the FT wax market report include:

• Significant benefits such as cost efficiency and reduced production time & cost are driving the product penetration in paints and coatings.
• Polish and other sanitation goods industry segment is likely to surpass USD 45 million by 2028 due to rapid advancements in technical and chemical aspects.
• Strong demand for product due to its favorable properties such as high strength and induced flexibility has urged manufacturers to utilize it PVC resins, accelerating the market forecasts.
• Growing applications of FT wax in the cosmetics industry for imparting protection and moisturization benefits will boost the market landscape.
• The significant rise in the transport of processed and raw foods have thrusted the corrugated box demand which ultimately fuels the business statistics.

Browse key industry insights spread across 250 pages with 145 market data tables & 9 figures & charts from the report, "FT Wax Market Analysis By Application (Paint & Coating, Resin, Plastics, And Synthetic Rubber, Tire, Polish And Other Sanitation Goods, Corrugated And Solid Fiber Boxes, Printing Ink) Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/ft-wax-market 

FT wax market from printing ink segment is expected to exceed USD 23 Million by 2028, growing at a CAGR of 6.5%. This is owing to an increase in the water-resistant toners and inks industry. FT wax bestows peculiar properties such as coefficient of friction, impacting slip resistance, dispersion and resistance to water, solvents, or grease.

Asia Pacific FT wax market accounted for 30% revenue share in 2021 and is estimated to grow at over 7% CAGR through 2028. This is owing to their benefits comprising high tensile strength and ease of application in varied sectors like printing ink, resins, plastics, synthetic rubber, candle & cosmetics production, will augment the regional market revenue. Additionally, FT wax imparts improved strength & resistance to severe stress upon the products which assists in market enlargement in the region. The focus on progressive printing equipment and technology is gradually bringing about a change in traditional methods for the same around the world and thus, this will increase the consumption of FT wax in the region.

FT wax industry is competitive with presence of multinational corporations and growing regional manufacturers such as Sasol, Shell, Deurex AG, Evonik Industries AG, Nippon Seiro Co. Ltd., Nanyang Saier, KPL International Limited, King Honor International, Brenntag, Yi Mei New Material Tech. Co. Ltd., Ter Hell and Co. Gmbh, Michel man, Industrial Raw Materials LLC, and Globalwax LLC.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.