Resin, plastic and synthetic rubber application is expected to hold dominating share in the FT wax market. Factors such as enhanced heat resistance and low viscosity will propel product demand for sewing, mechanical fastening and thermal bonding applications. Industry participants are expected to invest in new technologies to reduce the carbon footprint and launch new tailor-made blends to gain competitive edge in the market.
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FT Wax Market growth will be driven by increasing production of coal and natural gas derived products over conventional petroleum. Favorable policies and implementation of advanced processing technologies in U.S., China and Germany utilizing coal reserves for producing FT wax fueling industry development. Factors such as abundant feedstock availability, higher carbon and thermal efficiency of the product will further support the market growth as low carbon footprint is becoming part of business zeitgeist.
Also, the strengths and weakness profiles of the competitive firms have been provided, so that the efficiency and the overall productivity of these companies will depict a rise. The FT wax market report segmentation also aims to identify the high yield segments of the industry.
Strong demand as an additive in various applications, such as in inks, paints and coatings, plastics, hot melt adhesives (HMAs), fruit coating, emulsions for preventing metal corrosion and polishes likely to augment product sales. These waxes reduce the viscosity of a hot melt adhesive, impart gloss to a fruit coating emulsion or ink. Increasing demand for lubricants during the manufacture of PVC pipes or lend desirable buffability, gloss and hardness properties to a solvent or emulsion paste polish supporting production penetration rate.
The competitive analysis comprising numerous market players is a rather noteworthy feature of the FT wax market report, as it provides details about the direct and indirect competitors in the market. The report also provides the company profile of these market players inclusive of certain specifications, technologies, and their future development plans.
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North America is displaying a robust growth in the FT wax market owing to the rapid growth of automobile and resin processing sectors along with a rise in research and development activities. The U.S. is among the major contributors to the industry growth due to increasing crude oil demand & supply gap and favorable government policies formulated for facilitating production of synthetic waxes in the country. With rising involvement & direction from government authorities and mounting demand for ecofriendly products, it is expected that the product will continue to experience substantial growth in the North America region.
The market is divided with respect to the product type, end-use, and regional reach. Also, the report compares the growth rate and production value of the FT wax market spanning different geographies.
Global Key players are Sasol, Shell, DEUREX AG, Evonik Industries AG, Nippon Seiro Co., Ltd, Nanyang Saier, KPL International Ltd, King Honor International, Brenntag, Yi Mei New Material Tech Co., Ltd., TER HELL & Co. GmbH, Michelman, Industrial Raw Materials LLC, and Globalwax LLC.
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