Global carnauba wax market is set to witness a steady CAGR of 3.20% in the forecast period of 2019- 2026. The report contains data of base year 2018 and historic year 2017. Growing demand for pharmaceutical and rising exports of carnauba wax are the factor for the market growth.
Objectives of the marketing research are kept in mind while preparing this carnauba wax market research report. Market analysis, market definition, currency and pricing, key developments and market categorization along with detailed research methodology are the key factors of this market report. Market segmentation study is carried out in terms of markets covered, geographic scope, years considered for the study, currency and pricing. For research methodology, primary interviews with key opinion leaders, DBMR market position grid, DBMR market challenge matrix, secondary sources, and assumptions are taken into account.
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Key Market Competitors:
Few of the major competitors currently working in the global b carnauba wax market are Foncepi Comercial Exportadora Ltda; Carnaúba do Brasil; Brasil Ceras., Strahl & Pitsch, Inc.; Kahl GmbH & Co. KG; KahlWax; NOREVO; Koster Keunen; The International Group, Inc.; Poth Hille; Akrochem Corporation.; TER HELL & CO. GMBH; J. Allcock & Sons Ltd; Koster Keunen; Arjun Beeswax; KANTILAL BROTHERS; EXCEL INTERNATIONAL; BJ International.; Arjun Bees Wax Industries; Kemie Industries; JOHN AROMAS; AF Suter & Co Ltd; among others.
Global carnauba wax market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of carnauba wax market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Developments in the Market:
- In December 2016, Brenntag announced the acquisition of EPChem Group. This acquisition will help the company to expand their portfolio which will also enhance their specialty chemicals portfolio. This will also provide them opportunity so they can expand their range in different application such as personal care, adhesives, roofing among others
- In October 2015, Simoniz UK announced the launch of their new range of products which is specially designed for car- lovers. The new range consists of Simoniz Ultracare Alloy Wheel Cleaner, which cleans alloys without any corrosive effects. The larger family includes the exclusive Simoniz Shampoo & Wax and Simoniz Shampoo & Carnauba Wax from Halford. The goods combine a shampoo with a wax while still delivering leading results from the industry
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Segmentation: Global Carnauba Wax Market
By End- User
(Food & Beverages, Automobiles, Personal Care, Pharmaceutical, Others),
(Powder, Flakes, Pellet),
(Type 1, Type 3, Type 4),
(North America, Europe, Asia-Pacific, South America, Middle East and Africa)
- Increasing demand for automotive industry will drive the market growth in the forecast period
- Growing popularity of organic products also acts as a market driver
- Rising consumption by young population will also accelerate the growth of this market
- Increasing demand for food glazing agents in the developing food and confectionery industry will also drive the market growth
- Rising concern about the side effect of carnauba wax will hamper the market growth
- Less profitability margins to the manufacturers is restricting the growth of this market
- Low commercialization of carnauba wax will also restrain the market growth
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