Global Microcrystalline Wax Market Estimated to Register a Value CAGR of 3.9% During 2018-2026 - Persistence Market Research

NEW YORK, October 17, 2018 /PRNewswire/ --

North America to Remain Frontrunner in the Global Microcrystalline Wax Market throughout the Forecast Period, Says Persistence Market Research

Persistence Market Research has rolled out a new market research report titled "Microcrystalline Wax Market: Global Industry Analysis 2013 - 2017 and Forecast 2018 - 2026", which examines the microcrystalline wax market and offers critical insights for the next eight years. Based on the findings specified in the report, the market is expected to witness rising demand from increasing end-use sectors and growing cosmetics as well as pharmaceutical industries. These factors are projected to drive the global microcrystalline wax market.

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The estimated value of the microcrystalline wax market in 2018 is US$ 810.4 Mn, which is expected to expand at a CAGR of 3.9% and reach US$ 1,102.3 Mn by the end of 2026. In addition, the microcrystalline wax market is projected to create an incremental $ opportunity worth US$ 291.9 Mn during the forecast period.

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Microcrystalline Wax Market Dynamics 

The growing shift of manufacturing across globe and rising demand for end-use sectors such as pharmaceuticals, cosmetics & packaging are projected to drive the microcrystalline wax market over the forecast period. Moreover, rise in food packaging across regions is also expected to drive the microcrystalline wax market over the forecast period. The growth of end-use industry demand in key regions, such as SEA & Pacific China and Europe, is estimated to the market demand for numerous industries such as microcrystalline wax in the forthcoming years. Furthermore, changes in lifestyle generate demand for personal care products while the middle-class population is more inclined towards better living standards. Increasing production of pharmaceuticals and cosmetics, specifically in Asia, is estimated to surge raw material demand, which will impact the global microcrystalline wax over the forecast period