Slack wax is used in production of paraffin wax as a key ingredient. It has high oil content of about 5% to 3.5% as it is made from lubricating oils. It is used as raw material in manufacture of variety of products including personal care products such as baby creams, fragrances, sunscreen and lipsticks along with cosmetic products. An intelligence report titled, “Slack Wax Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027”is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.
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Paraffin wax consumes slack wax to a great extent and is expected to dominate the market for the forecast period. Increase in paraffin wax demand for multiple applications including candle making, wood impregnation products and anti-caking agent, drives the global slack wax market.
Although consumption is high, the global market is facing challenges in form of stringent government regulations. Strict regulations on emission of various gases including carbon dioxide, Sulphur and carbon monoxide compel manufacturers and industry heads to use better technologies in group II and group III base oils production to get cleaner products. Such strategies have declined group I base oil’s production which is a major source of slack wax. Declining preference of group I oil has negative impact on global slack wax market. Increase in focus towards other viable alternatives like synthetic paraffin wax and natural wax hinder the growth of global market.
Global slack wax market is expected at a ?2% CAGR for the forecast period 2019-2027. The major global market share was owned by light grade of slack wax in the year 2018.
Asia Pacific leads market
Asia Pacific held the major global market share in 2018 owing to increased use of various products that include scented candles, polishes and carbon paper. Major stake holders of slack wax market are actively expanding their market presence. HollyFrontier Corporation acquired Sonneborn US Holdings Inc. to expand its geographical foot print.
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Other key players in global slack wax market include Exxon Mobil Corporation, PT PERTAMINA, RAHA Paraffin Company and Royal Dutch Shell plc. Sasol Limited.
Global slack wax market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Global slack wax market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Global slack wax market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on global slack wax market.
An insightful and deep-dive assessment of the competitive assessment of the Global slack wax market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Global slack wax market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Global slack wax market: Research Methodology
Primary sources and secondary sources propel intelligence report on Global slack wax market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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