Lignite-an Dominant Mineral That Used for the Production of Mineral Waxes -Market Opportunity Assessment Study 2020.Pdf

Transparency Market Research

Mineral Waxes Market - Global Industry

Analysis, Size, Share, Growth, Trends and

Forecast 2014 - 2020

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REPORT DESCRIPTION

Waxes are solid material that melt and convert into liquid state at a slightly higher temperature. Sources of wax can be segregated

into three segments: oil, mineral and plants & animals. Crude oil is the most dominant source of waxes moreover owing to higher

demand for crude oil in other application segments, mineral waxes have been gaining acceptance and demand for mineral waxes

has been surging across the globe. Lignite is the most dominant mineral used for the production of mineral waxes and this trend is

anticipated continue for a foreseeable future. Ozokerite, peat and ceresin waxes are among other major mineral waxes sources.

Environmental hazards associated with processing of crude oil coupled with volatile pricing of crude oil have led to decline in demand

for crude oil based waxes. Moreover, high demand for crude oil for other more lucrative application segments has been the foremost

factor driving demand for mineral waxes. Increasing demand for wax in the production of rubber is expected to drive demand for

mineral waxes during the forecast period. High growth in cosmetics market is also expected to be among major factors driving

demand for mineral waxes. Moreover, supply constraints related to major mineral sources such as lignite is expected to restrain

mineral waxes market growth. Furthermore, availability of other wax sources such as plants, animals and insects are expected to

restrain mineral...