HOME › Research Insight › Expansions and New Product Launches are Among the Key Approaches Adopted by the Leading Market Players to Achieve Growth in the Global Wax Emulsion Market
Expansions and New Product Launches are Among the Key Approaches Adopted by the Leading Market Players to Achieve Growth in the Global Wax Emulsion Market
The growing demand for wax emulsion from the paints & coatings industry led to significant developments in the wax emulsion market. Wax emulsions possess qualities such as high melting point, low melt viscosity without decomposition, and it can also be polished under slight pressures. These qualities make wax emulsions the most preferable additive for industries such as paints & coatings, adhesives & sealants, cosmetics, textiles, and others.
Some of the major participants operating in the wax emulsions market include BASF SE (Germany), Nippon Seiro Co., Ltd. (Japan), Sasol Ltd. (South Africa), The Dow Chemical Company (U.S.), Exxon Mobile Corp. (U.S.), Momentive Performance Materials Inc. (U.S.), Lubrizol Corporation (U.S.), and Danquinsa GmbH (Germany).
Emerging companies in the wax emulsions market have been expanding their business by adopting strategies of expansion and new product developments. The strategy of expansion has been the most preferred growth strategy of the companies operating in the wax emulsion market. Michelman Inc. (U.S.), and Altana AG (Germany) are the two companies who reported maximum number of expansions between 2012 and 2016. The companies has expanded in different geographic locations so as to meet the increased demand for wax emulsion from the customers and also to strengthen its foothold in the global wax emulsion market.
New product launch is the second-most preferred growth strategy adopted by the players engaged in this market. Top two companies which adopted new product launch as a growth strategy include: Michelman Inc. (U.S.) and Altana AG (Germany). Lubrizol Corporation (U.S.) is another company which chose this growth strategy.
Michelman Inc. (U.S.), is a leading player in the wax emulsion market. The company offers wide range of wax emulsions. The company serves a wide range of end use industries such as agricultural ingredients, agricultural specialty coatings, industrial & and maintenance coatings, inks & over paint varnishes, polishes, printing inks, and paper coatings. The company has effectively managed development of new products and acquisition of its sales partners to expand its product portfolio, globally. The company has Michem®Wood Release, mold release agents in March 2015 and Hydrosize® U2-04, Hydrosize PA846, FGLASS™ X91 EMA, and Hydrosize U9-01, fiber sizing solutions in January 2015. These new products will strengthen the company’s presence in the wax emulsion.
Altana AG (Germany) through its subsidiary BYK additives & instruments manufacturers and supplies a wide range of max emulsions. The products range from polyethylene, paraffin, carnauba, polypropylene and many others wax emulsions. Apart from pints and coatings, the company also manufactures wax emulsions for adhesives & sealants, cosmetics, and other industries. The company adopted several growth strategies in past few years. Agreements, new product launches, and expansions have been its key strategies. Altana AG launched a new polymer based, VOC and silicon free defoamer in March 2015 for applications which includes direct contact with food. The wide range of brand & products and active operations make Altana a leading player in this market.
Wax Emulsion Market by Material Base (Synthetic and Natural), by Type (Polyethylene, Paraffin, Carnauba, Polypropylene, and Others), by End Use Industry (Paints & Coatings, Adhesives & Sealants, Cosmetics, Textiles, and Others), by Region - Global Forecast to 2021
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