(MENAFN- America News Hour)The global bio-wax market can be segmented on the basis of product, end-users and region. On the basis of product, it is sub-segmented into plant wax and animal wax. On the basis of end-users, it is sub-segmented into water protection systems, cosmetics, infrastructure building, personal care and paints & coatings. Cosmetics isexpected to leadthe end-userssegment during the forecast period. The cosmetics industries across the globe is focusing on using bio-based substance for the manufacturing of the cosmetics and personal care products. This in turn is anticipated to be the major reason for the growth of the sub-segment during the forecast period. Thus, various key players in the cosmetic industry areconcentrating on the application of the bio-based products.
The global bio-wax market is anticipated to expand at a CAGR around 3.0% during 2018-2027. The government policies for the adoption of the bio-based materials coupled with the growing application of the environment friendly products is anticipated to be the main reason driving the growth of the global bio-wax market during the forecast period.
By region, global bio-wax market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to lead the global bio-wax market during the forecast period. The increasing expansion of the cosmetic industry in the region coupled with the rising demand for the bio-based products is anticipated to be the major reason supporting the growth of the global bio-wax market. North America accounted 25% of the total share of the cosmetics industry worldwide. Europe is anticipated to hold the second largest market share for the global bio-wax market during the forecast period. The stringent government regulation regarding the pollution control in the region is anticipated to increase the demand for the bio-based products in the region. The European commission has adopted the Clean Air Policy Package, in 2013 in order to improve the quality of the air by restricting the emission of the certain pollutants. Asia-Pacific region is expected showcase significant growth for the global bio-wax market. The expansion of the industry in the region is the driving the growth of the bio-diesel plants. This in turn boost the growth of the global bio-wax market in the region.
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Increasing expansion of the various end-user industries is anticipated to expand the growth of the global bio-wax market
The expansion of the various end-user industries is anticipated to fuel the demand for the bio-based products .This in turn promote the growth of the global bio-wax market.The various industries are taking up the initiative to use natural methods which does not harm skin. The bio-based materials are also used in the personal care industry. Thus, the growing end-users industries is anticipated to drive the growth of the global bio-wax market.
The report titled '' Bio-Wax Market: Global Demand Analysis & Opportunity Outlook 2027'' delivers the detailed overview of the global bio-wax market in terms of market segmentation by product, by end-users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model. This report also provides the existing competitive scenario of some of the key players of the global bio-wax market which includes company profiling of key companies such as Duraflame, Biosil, Chant Oil, Fisch, BioJouvance and Remmers.The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global bio-wax market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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