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Fischer-Tropsch (FT) Wax Market Size

Report ID: GMI1818
Published Date: Apr 2022
Report Format: PDF

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Fischer-Tropsch Wax Market Size

FT Wax Market size surpassed USD 730 million in 2021 and is estimated to grow at over 6.5% CAGR between 2022 and 2028. Increasing consumption of wax-based products including, candles, polishes and coatings will propel the market demand. Focus on increasing the adoption of sanitation products and high-quality packaging materials due to increasing food and hygiene concerns will drive the global market growth.

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Physical properties of Fischer-Tropsch (FT) derived products such as melting point, molecular weight, temperature resistance coefficient etc. can be varied according to production process owing to which it can be used for variety of applications generating a greater demand. Ability of the product to address low production cost or continuous supply compared to petroleum derived hydrocarbons will create new growth opportunities for FT wax market participants.

FT Wax Market Report Attributes
Report Attribute	Details
Base Year:	2021
FT Wax Market Size in 2021:	USD 736 Million
Forecast Period:	2022 to 2028
Forecast Period 2022 to 2028 CAGR:	6.5%
2028 Value Projection:	USD 1100 Million
Historical Data for:	2017 to 2021
No. of Pages:	250
Tables, Charts & Figures:	157
Segments covered:	Application
Growth Drivers:	Europe: Growing paints and coatings demand from automotive and construction sector Asia Pacific: Expansion of plastics & elastomers market
Pitfalls & Challenges:	Fluctuating prices of raw materials

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Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

Global market for fischer-tropsch wax exceeded USD 730 million in 2021 and is expected to expand at a CAGR of 6.5% from 2022 to 2028 owing to the soaring consumption of wax-based products such as coatings, polishes, and candles.

Fischer-Tropsch (FT) wax market revenue from tires processing is estimated to grow at a CAGR of 6.5% through 2028 driven by the flourishing automobile industry and favorable government schemes & initiatives.

North American market for FT wax is anticipated to surpass USD 250 million until 2028 considering the increasing importance of trade and the escalated product demand from the processing industry for formulating inks, PVC lubrication, and adhesives.

Prominent players in the FT wax industry comprise Brenntag, Evonik Industries AG, KPL International Limited, Globalwax LLC, Nippon Seiro Co. Ltd., Ter Hell and Co. GmbH, and others.