NEW YORK, Oct. 23, 2023 /PRNewswire/ — The carnauba wax market is expected to grow by USD 74.47 million from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 4.69% during the forecast period, according to Technavio. Rising consumer awareness about natural and eco-friendly products is notably driving the carnauba wax market. However, factors such as the Side effects of carnauba wax may impede market growth. The market is segmented by product (type 1, type 3, and type 4), end-user (cosmetics, food, automotive, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the carnauba wax market including Akrochem Corp., Brasil Ceras, Carnauba do Brasil, Chestnut Products Ltd., Feast Watson, Foncepi Natural Waxes Ltd., KahlWax, Norevo GmbH, Pontes Industria de Cera ltd., Poth Hille and Co. Ltd., Strahl & Pitsch Inc., Turtle Wax Inc., Frank B. Ross Co, Inc., Koster Keunen, and Spartan Chemical Co. Inc..The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a FREE Sample Report.
Carnauba Wax Market 2023-2027: Company Analysis
Akrochem Corp: The company offers carnauba wax which is a naturally occurring wax, extracted from the carnauba palm.
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Carnauba Wax Market 2023-2027: Segmentation
Product
- The type 1 segment is estimated to witness significant growth during the forecast period. Type 1 Carnauba wax is one of the finest and purest carnauba waxes. A premium-grade wax subjected to a rigorous treatment process to remove impurities and produce a clean and polished product is present in this segment. Furthermore, owing to its high melting performance and good water resistance, this segment offers a durable protective coat on the vehicle’s surface.
- end-user (cosmetics, food, automotive, and others
Geography
- APAC is estimated to contribute 38% to the growth of the global market during the forecast period. The presence of a large industrial and manufacturing sector in the region is an important factor. Carnauba waxes are becoming more and more common in the automotive industry for car detailing and protection. In addition, to satisfy the consumer’s demand for superior quality, natural ingredients, several Asian cosmetic corporations are increasingly using their formulations.
- North America, Europe, South America, and the Middle East and Africa
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
