Global FT Wax Market: Overview

Fischer-Tropsch or FT wax come with a very high melting point and many unique properties due to which the global FT wax market is likely to observe considerable growth over the forecast period, from 2019 to 2027. Low viscosity, very high melting point, and hardness are what that makes FT wax a highly desirable product in many applications across many industries. Increasing utilization of the product in applications like packaging, candle making, personal care products, and coatings supports growth of the global FT wax market.

In a bid to offer a detailed analysis of the global FT wax market, the parameters of type, application, and region could be used for classifications.

Global FT Wax Market: Notable Developments

Like any other market, the FT wax market did come ascross some developments in the last few years. One such significant development in the market is mentioned below:

• In 2018, Sasol Limited announced absolute completion of its of its billion dollar worth FT Wax Expansion Project. The project was divided in two different phases, namely phase 1 and phase 2. Phase 1 began in 2015 and phase 2 was started in 2017. Post completion of the projected it is expected that FT products could gain much better access to the South Africa wax market, which is leading producer of wax across the globe.

Some of the reputed organizations functioning in the global FT Wax market are as mentioned below:

• Nippon Seiro Co. Ltd
• Sasol Limited
• Lu’an Group
• King Honor International
• Industrial Raw Materials LLC
• Royal Dutch Shell PLC

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In addition, Fischer-Tropsch or FT wax also find use in the extrusion of rubber in a bid to better extrusion and processing capabilities of rubber. Another prominent use of FT wax is its role as an internal lubricant, which diminishes friction and betters overall hardness of the end product. The automotive sector has been generating high demand for synthetic wax to be used in car tires. Furthermore, the demand for FT was arises from foam, footwear and plastic industries, which are highly likely to accentuate it demand in foreseeable time.

Global FT Wax Market: Geographical Analysis

In a bid to depict a detailed picture of the global FT Wax market, regional segments of the market could be done. The market is divided into the principal regions of Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.

From the geographical standpoint, North America is likely to hold a large chunk of the market over the period of assessment. Following a considerable rise in the prices of crude oil, the supplies of fuel have declined substantially, which has triggered the demand for FT across North America. Therefore, it can be estimated that the growth of the global FT wax market is likely to be supported by such factors in North America.

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