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Carnauba Wax Market: Growth, Trends, Key Players, Competitive Strategies and Forecasts
Carnauba wax is a type of natural wax-containing mono and di hydroxyl fatty alcohols, hydroxyl acids and their polyesters.
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.
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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.
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.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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