Global Industrial Wax Market 2019-2023
A key factor driving the growth of the market is the increased demand
for industrial wax from the personal care industry. Industrial wax is
used in cosmetic and personal care product formulations to enhance the
viscosity and consistency of personal hygiene products. Moreover, with
the increase in demand for personal care products, many companies are
coming forward to supply wax to cater to the needs of the personal care
and cosmetics industry. For instance, the International Group Inc.
provides high-quality wax that is safe and non-toxic, which can be used
in the formulation of a wide range of cosmetic products. The personal
care market is expected to grow exponentially as consumers are ready to
spend more on products that offer better benefits and performance. Thus,
the augmented demand for personal care and cosmetic products will drive
the global industrial wax market during the forecast period.
As per Technavio, industrial research and development activities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global industrial wax market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global industrial wax market: Industrial research and development activities
The growing applications for industrial wax have spurred R&D activities in the global industrial wax industry. Several researchers are collaborating with companies that have hands-on experience in offering quality waxes and are in the process of developing new technologies to further extend the areas of applications. One such R&D effort aims at creating high-performance wax for use in wax 3D printers. 3D printing with wax is an emerging technology in which wax is used as an alternative to plastic.
For instance, Solidscape Inc. is involved in working with wax pattern 3D printers that are used in jewelry designing. The company produces high-quality models using 3D wax for flawless castings. Other than jewelry printing, wax is now widely used in 3D printing in the medical field, with a wide range of research activities currently going on in the field. In addition, the new trend of inclining towards bio-degradable waxes will set the stage for future wax supply and demand balance.
As per Technavio, industrial research and development activities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global industrial wax market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global industrial wax market: Industrial research and development activities
The growing applications for industrial wax have spurred R&D activities in the global industrial wax industry. Several researchers are collaborating with companies that have hands-on experience in offering quality waxes and are in the process of developing new technologies to further extend the areas of applications. One such R&D effort aims at creating high-performance wax for use in wax 3D printers. 3D printing with wax is an emerging technology in which wax is used as an alternative to plastic.
For instance, Solidscape Inc. is involved in working with wax pattern 3D printers that are used in jewelry designing. The company produces high-quality models using 3D wax for flawless castings. Other than jewelry printing, wax is now widely used in 3D printing in the medical field, with a wide range of research activities currently going on in the field. In addition, the new trend of inclining towards bio-degradable waxes will set the stage for future wax supply and demand balance.
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