Persistence Market Research
Global Carnauba Wax Market: Overview
Carnauba wax is a type of natural wax-containing mono and di hydroxyl fatty alcohols, hydroxyl acids and their polyesters. Carnauba wax is majorly found in the Brazil and obtained from palm tree leaves. Some of the important properties of carnauba wax are the high melting point, hardest among other natural waxes such as bee wax, high oil retention capability etc. Carnauba wax finds major usage in the cosmetic industry as an additive owing to its characteristic properties. For instance, it delivers high-gloss finish in the makeup products such as lipsticks and lip balms, hypoallergenic properties makes carnauba wax to be used in sensitive skin care products also. In food and pharmaceutical industry, carnauba wax finds application as food additives and binding & coating tablets respectively. The carnauba wax market is well established with the presence of suppliers. The demand for carnauba wax is increasing since the individuals are turning towards adoption of natural and organic products over synthetic and petroleum based products. Carnauba wax is also used as release agents, car polishes and in wood floor polishes.
Global Carnauba Wax Market: Drivers and Restraints
The global cosmetic industry is expected to grow at a CAGR of 3.9% till 2020 coupled with rising population. The global carnauba wax market is primarily driven by the two major end-use industries, cosmetic and food. Increasing disposable income of individuals which aids in expanding the behavior of individuals towards more adoption of cosmetics boosts the global carnauba wax market. For instance, carnauba wax is widely used an additive in lip balms, mascaras and lipsticks owing to the better emulsification, oil binding properties. Further, for carnauba waxes, there are no price fluctuations when compared to synthetic and petroleum based waxes, which gives an additive advantage for carnauba wax manufacturers.
However, the regulations for the manufacture of carnauba wax are strict, since they are widely consumed in food, pharma and cosmetics industries which make the global carnauba wax quite consolidated.
Global Carnauba Wax Market: Segmentation
On the basis of type, carnauba wax market can be segmented as follows:-
On the basis of carnauba wax form, carnauba wax market can be segmented as follows:-
On the basis of application, carnauba wax market can be segmented as follows:-
On the basis of end use, carnauba wax market can be segmented as follows:-
Global Carnauba Wax Market: Region wise Outlook
The global carnauba wax market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). The carnauba wax market in Latin America and APEJ regions is robust owing to the availability of suitable climatic condition for palm trees from which carnauba wax is extracted. Countries such as Brazil in Latin America and Indonesia, India, China are prominent for carnauba wax production. North America and Eastern European regions majorly import high amounts of carnauba wax.
Global Carnauba Wax Market: Key Players
Some of the key players identified in the global carnauba wax market includes:
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