Candelilla wax is a plant-based complex material. It is brittle, hard, and easily pulverized. It is an opaque material before refining, which can be of different colors ranging from light brown to yellow depending on the grade of refining and bleaching. Candelilla wax has exceptional oil binding characteristics, thus improving the texture and stability of cosmetic products. Candelilla wax delivers good mold release, surface gloss, firmness, and develops softness. It is frequently employed in combination with beeswax and carnauba wax in order to improve adhesion and skin-feel properties. It effortlessly dissolves basic dyes. It is highly soluble in chloroform, acetone, benzene, and numerous other organic solvents, but is soluble in water. Furthermore, it is employed as a glazing agent, lubricant, and surface-finishing agent.
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Candelilla Wax Market: Drivers and Restraints
Demand for candelilla wax is anticipated to increase, determined by the market trend for natural-based ingredients, especially in personal care and other consumer products. However, the upsurge of synthetic waxes for large volume applications, which offer relatively better performance with lower cost, is estimated to hamper the expansion of the candelilla wax market.
Candelilla Wax Market: Segmentation
In terms of different forms, the candelilla wax market can be segmented into:
There are various candelilla wax products which differ mainly in their appearance and refining grade. However, in maximum applications, it is acclaimed to use candelilla wax in the pastilles form, since they propose significant advantages compared to other forms of products. Candelilla wax pastilles offer advanced purity levels in totally refined and semi-refined products, with lower production costs involved. Pastilles allow relatively more defined control during dosing even for a higher thermal efficiency during the wax melting process. Candelilla wax powder, either in ground or in spray form, is considered as a specialty product, which is employed primarily for selected applications such as the food & beverage and cosmetic industries.
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Candelilla Wax Market: Segmentation
In terms of application, the candelilla wax market can be segmented into:
Candelilla wax displays very low shrinkage and hence, it is used in precision foundries. It offers high level of adhesion properties and is used in the preparation of cosmetics and polishes. Moreover, it is utilized for other applications such as leather, textiles, furniture, and floors. Candelilla wax is employed in finishes for textiles and cords, leather, lubricants and greases, paper and cardboard coatings, etc., in combination with other waxes. Candelilla wax possesses a special property where it can strengthen other waxes without considerably rising the melting point of the blended mixture.
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Candelilla Wax Market: Region-wise Outlook
In terms of geography, the global candelilla wax market can be segmented into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. Asia Pacific is estimated to be a highly lucrative region for the candelilla wax market during the forecast period. The region holds major share of the global personal care industry, due to rapid urbanization, increasing awareness about health and hygiene among consumers, population growth, and improved per-capita expenditure. The U.S. dominates the candelilla wax market and is projected to continue its dominance due to rising awareness about natural products. Furthermore, North and Latin America are major producers of candelilla wax due to easy raw material availability, as Mexico is the major producer of candelilla plant.
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Candelilla Wax Market: Key Players
Key players operating in the candelilla wax market include:
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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