The report of Slack Wax market, By Grade (Light and Heavy) Application (Construction Boards, Candle Manufacturing, Paraffin Wax and Others) and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ 989 Mn by 2027, at a CAGR of 4.5% during a forecast period.
By grade segment is expected to grow at the highest CAGR of XX% during the forecast period.
By grade segment, the light segment detained a major share of the global slack wax market in the base year. Light grade slack wax is soft and adheres properly to the sides of containers. Thus, the light grade is superlative for light candles and containers. An upsurge in the matchstick boxes and scented candles as consumer goods is a key factor expected to boost the demand for light grade slack wax in near future.
The Asia Pacific region dominated the slack wax market in 2019.
Regionally, Asia Pacific is expected to witness the noticeable growth during the forecast period. China is a key manufacturer and consumer of the product in the Asia Pacific. As cosmetic and grooming sector in developing countries like India China is very high is expected to grow the slack wax market in Asia Pacific region. Technological advancement and manufacturing process in this region are key factors to drive the market in Asia Pacific region.
Major Key players executing in the global slack wax market are Shell, Exxon Mobil, BP, IRPC, Pertamina, HandR Gruppe, American Refining Group, Iranol Oil, Thai Oil, CNPC, Sinopec, Exxon Mobil Corporation, Royal Dutch Shell plc, Sasol Limited, RAHA Paraffin Company and American Refining Group.
Maximize Market Research, a global market research with a dedicated team of specialists and, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Slack Wax Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Slack Wax Market positioning of competitors.
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