Wilmington, Delaware, United States, April 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global wax dispersants market stood at US$ 1.3 billion in 2022 and the global market is projected to reach US$ 2.1 billion by 2031. The global industry is anticipated to expand at a CAGR of 5.5% between 2023 and 2031.
The market value of Wax Dispersants is also increasing due to growing demand from the paints and coatings industry. The paints and coatings industry is one of the major end-users of wax dispersants. The increasing demand for eco-friendly and low-VOC coatings has led to the development of new and advanced wax dispersants.
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Wax dispersants help in improving the durability, gloss, and scratch resistance of the coating. The rising demand for high-performance coatings in various end-use industries such as automotive, construction, and furniture is expected to propel the growth of the wax dispersants market in the near future.
Additionally, increasing demand for adhesives is also driving the demand for Wax Dispersants. The demand for adhesives is increasing due to their versatility and ease of use. Wax dispersants play a crucial role in improving the adhesive properties of the product by preventing the agglomeration of wax particles. They also improve the wetting and spreading properties of the adhesive, thereby enhancing its performance.
Furthermore, the rising demand from the printing inks industry is another factor that is escalating the growth of the Wax Dispersants market. The printing inks industry is another major end-user of wax dispersants. Wax dispersants help in improving the gloss, rub resistance, and scratch resistance of the printed surface. They also prevent the build-up of ink on the printing plate, thereby improving printing quality.
Key Findings of the Market Report
- On the basis of type, polymeric dispersants, is likely to be most preferred, expected to expand at a significant rate.
- This growth can be attributed to their growing adoption in various end-use industries and their eco-friendliness and low-VOC content.
- Based on the application, the texturizing agents segment holds the highest market share, due to the growing demand for convenience food products, changing food habits, and increasing awareness about healthy eating.
- By End-Use, the personal care & cosmetics segment holds the highest market share, attributed to the factors such as changing lifestyles, increasing disposable income, and growing awareness about personal hygiene and grooming.
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Global Wax Dispersants Market: Growth Drivers
- The global Wax Dispersants market is projected to expand at a steady pace from 2021 to 2028, due to government regulations regarding the use of eco-friendly and low-VOC products.
- Another factor that is projected to augment the market growth includes the strategic partnerships and collaborations between key players in the market.
- Additionally, the expansion in the oil & gas sector boosting wax dispersants is another factor that is anticipated to fuel the market prospects in the near future.
Global Wax Dispersants Market: Regional Landscape
- North America is expected to dominate the Wax Dispersants market during the forecast period.
- The regional market is witnessing an increase, due to the increasing demand for these products in various end-use industries, the presence of key market players in the region, and the growing focus on sustainability and eco-friendliness.
- Additionally, favorable regulatory environment, and high levels of investment in the sector in the region, are expected to further aid the market's growth.
Global Wax Dispersants Market: Key Players
Some of the key market players in the global Wax Dispersants market are:
- Dow
- Alkhebra Technology
- SLB
- Clariant
- Schlumberger Limited
- BASF SE
- Baker Hughes Company
- ChampionX
- Halliburton
- Croda International Plc
- Zirax Limited
- Refinery Specialties, Inc.
- Evonik
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Competitive Landscape
Prominent players in the wax dispersants industry are taking advantage of the rapidly increasing demand for wax dispersants. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
- In 2021, Croda International Plc launched a new range of wax dispersants, called IncroMax Wax Dispersions. These products are designed to improve the stability and performance of water-based formulations in various industries such as coatings, adhesives, and personal care.
- In 2021, Lubrizol Corporation introduced its new Solsperse™ W200 wax dispersant, which is designed to improve the stability and dispersion of wax particles in water-based systems. The company claims that this new product can help reduce settling and sedimentation in paints, coatings, and inks.
- In the same year, Momentive Performance Materials announced the launch of its new NXT* silane product, which is designed to improve adhesion and durability in coatings and other applications. This product can also be used as a wax dispersant in certain formulations.
Global Wax Dispersants Market: Segmentation
Type
- Polymeric Dispersants
- Nonionic Surfactants
- Anionic Surfactants
- Cationic Surfactants
- Solvents
- Additives
- Others
Application
- Production Tubing
- Wellbores
- Pipelines
- Separators
- Heat Exchangers
- Valves
- Texturizing Agents
- Pesticides
- Herbicides
- Others
End-use
- Oil & Gas
- Agriculture
- Personal Care & Cosmetics
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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