Global Montan Wax market will register a CAGR of nearly 3.9% during the period from 2020 to 2026.
Montan Wax Market
The global Montan Wax market will register a CAGR of nearly 3.9% during the period from 2020 to 2026. The report offers assessment and analysis of the Montan Wax market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Montan wax is hard wax and is derived through solvent extraction of particular kinds of lignite. Moreover, it comprises of big chain of fatty acids as well as alcohol. Furthermore, the product possesses outstanding lubricating features. Additionally, it demonstrates excellent thermal stability and low volatility. The product is used as lubricant for molding of plastics & paper as well as the protective layer on fruits. It finds lucrative applications in paints, car polishes, and phonograph records as the product enhances scuff resistance, imparts high gloss, and enhances water repellence.
Market Growth Dynamics
The outstanding physiochemical product features and easy product availability at reasonable prices will drive the growth of the market over the forecasting years. Escalating demand for Montan wax from fruit vendors and various industries will impel the growth of Montan wax industry over the ensuing years. Massive requirement of the product for processing of engineered plastics due to its unique lubricating features will embellish the business surge over the projected timespan. Montan Wax also helps in minimizing the cycle time during engineered plastic processing. It also brings improvement in mold release and flow features without any loss of product, thereby driving the market trends. Nonetheless, scarcity of raw material availability has resulted in end-users looking for substitute products, thereby impeding the market growth.
European Market To Establish Numero Uno Position Over 2020-2026
The growth of the market in the continent during the projected timeline can be credited to presence of key players like ROMONTA GmbH and VÖLPKER SPEZIALPRODUKTE GMBH in the countries of Europe. Apart from this, burgeoning use of the product in automotive along with highest global production of Montan wax by countries like Germany will further contribute towards the regional market size in the years to come and help the business flourish in the continent.
Key players influencing the market growth are AmeriLubes, L.L.C., Clariant, Parchvale Ltd., Carmel Industries, Frank B. Ross Co., Inc., ROMONTA GmbH, S. KATO & CO., Mayur Dyes & Chemicals Corporation, FIRST SOURCE WORLDWIDE, LLC, Poth Hille, Yunphos, Völpker Special Products GmbH, ALTANA, and MÜNZING Corporation.
The global montan wax market is segmented as follows:
By End-use Industry
The outstanding physiochemical product features and easy product availability at reasonable prices will drive the growth of the market over the forecasting years.
The CAGR of the industry is expected to be approximately 3.9% during the forecast timespan.
European region will contribute sizably towards the global market revenue over the estimated timeline.
The key market participants include Clariant, ROMONTA GmbH, S. KATO & CO., Mayur Dyes & Chemicals Corporation, Poth Hille, Yunphos, Völpker Special Products GmbH, Frank B. Ross Co., Inc., AmeriLubes, L.L.C., FIRST SOURCE WORLDWIDE, LLC., Parchvale Ltd., Carmel Industries, ALTANA, and MÜNZING Corporation.