Montan Wax Market size is projected to reach USD 335 Million by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2022, the industry size of montan wax was over USD 149 Million. The market is driven by the expanding need for montan wax in the personal care and cosmetics industry. Natural and non-toxic montan wax is primarily used to regulate the viscosity and consistency of various cosmetics and personal care compositions. Young audiences now have a greater desire for beauty and cosmetic products, which has enhanced the industry’s output of these goods. Montan wax is used for non-toxic structure makeup items like baby items, massage oils, lipsticks, and more. Additionally, the market demand for Montan wax is being driven by its durability and shine in cosmetic and personal care applications
Further, owing to its superior properties such as improvement in the flow properties and mold release, limited product loss, and improvement of product properties, the montan is substituting carnauba wax, and beeswax, among others. Additionally, the excellent physiochemical properties and cost-effectiveness of montan wax are propelling its demand across the globe.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 7% |
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Base Year Market Size (2023) |
~ USD 149 Million |
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Forecast Year Market Size (2036) |
~ USD 335 Million |
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Regional Scope |
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Function (Emulsifier, Lubricants, Thickening Agents, Coating agent)
The lubricant segment in the montan wax market is anticipated to register the largest revenue during the forecast period, accounting for a market share of 54%. Montan waxes, among other things, are guaranteed to be PVC lubricants. It increases the quality and smoothness of the surface, as well as the shine of the finished product. In injection molding and other procedures that require a high melting speed, montenic ester is used as it helps reduce fluid viscosity. They demonstrate their beneficial lubricating characteristics, for example, in high-speed cable extrusion, particularly at the screw tips. All these admissible features are responsible for the market’s growth.
End-User (Cosmetics, Food, Pharmaceuticals, Rubbers, Plastics, wax polish)
Montan wax market from the food Segment is projected to hold the majority revenue share. The market is being driven by the preservation of fruits, which is majorly responsible for the segment's growth. It aids in reducing how quickly fruits lose water. When handling fruit, it is authorized for use as a food ingredient. The food sector uses montan wax to preserve the freshness of fruits. Growing demand for fruit merchants is the driving force behind the Montan wax industry. Other benefits of montan wax include minimal to non-existent product loss, and enhanced mold release and flow characteristics, and all of these factors support and propel the industry.
Our in-depth analysis of the global market includes the following segments:
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Function |
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Type |
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End-User |
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European Market Forecast
European region is anticipated to hold the largest revenue share, accounting for 46% of the global montan wax market. The growth of this region is attributed to the presence of well-established manufacturers. Further, the cosmetics, adhesives, and coatings industries in Europe continue to rely on montan wax for its unique properties. Also, the use of montan wax as lubricant is prevalent in the region. Demand for lubricants in Europe is on the rise due to increasing industrial activities across various sectors. As the economy grows and the manufacturing sector expands, there is a greater need for lubricants to ensure the smooth function of machinery and equipment. Europe’s manufacturing sector is set to garner a revenue of USD 2.9 trillion. All these factors cumulatively are propelling the market’s growth.
APAC Market Statistics
Asia Pacific montan wax market is estimated to hold a significant revenue share during the forecast period. This region is a major consumer of Montan Wax, with countries such as China and South Korea at the forefront of demand given their robust industry sectors. Montan waxes are used in the automobile sector for car polish, paint, and other vehicle care and protection applications. High growth in the market share of montan wax is being driven by an accelerating automotive industry in major developing countries such as China, India, and others. In addition, the increase in food consumption in APAC is driving up demand for montan wax to be used on fruit edible coating and additives preventing water loss and preserving freshness as a result of an increasing intake of fruits and vegetables. In this way, the montan wax industry will lead over the forecast period due to increasing vertical industries in APAC such as automotive, cosmetics, food, and others.
Author Credits: Smruti Ranjan, Rajrani Baghel
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