Candelilla Wax Market: Introduction
Candelilla Wax falls under the category of vegetable wax. Candelilla wax is gained from the leaves of candelilla bush or shrub which is known as Euphorbia antisyphilitica or Euphorbia cerifera from Euphorbiaceae family. Candelilla plants are found in the regions of Mexico, Arizona, Texas and California in United States. The candelilla wax is mainly obtained by boiling the leaves and stems acidic solution, generally dilute sulfuric acid & the resulting mixture is skimmed off from the surface and is processed for quality purposes. Candelilla wax is yellowish-brown or whitish in color. It is a hard, opaque, brittle substance with slight aromatic odor. Candelilla Wax is composed from ~50% hydrocarbons, ~20-30% high molecular weight esters, ~7-10% of free acids and ~12-15% triterpenoid esters. Candelilla Wax is insoluble in water but is soluble in organic solvents such as acetone, chloroform & others. Candelilla wax is available alternative solution for carnauba wax and beeswax. Candelilla wax is usually mixed with other wax mixtures for hardening purpose by preventing the elevation of its melting point. Candelilla Wax functions as a barrier agent which avoids the loss of moisture, due to which it usually used in the cosmetics and personal care industry, in the products such as lip balms, lotions, moisturizers etc. In food industry candelilla wax finds its application as binder, emulsifier or as a glazing agent. Other identified commercial applications for candelilla wax are as varnishing agent for wood finishing, for waterproofing paper etc. Inclination towards vegan products gives candelilla wax an advantage over the animal based waxes.
Candelilla Wax Market: Dynamics
Growing demand for vegan or plant based materials from cosmetics and personal care industry will be the main factor driving the growth of candelilla wax market. In the developed countries there is increased inclination towards the use of bio-based products, which is escalating the demand for candelilla wax from various end use industries. Rising disposable income and rising youth focus towards grooming & styling for better looks has increased the consumption of cosmetics and personal care products. Growing consumption of personal care & cosmetic products will boost the candelilla wax market. Increased standard of living, changing lifestyle and rising urbanization has resulted into the shift in food preferences owing to which there is up surge in the demand for candelilla wax. Also the growth of the other end use industries such as pharmaceuticals and textile will be responsible for the growth of candelilla wax market. Moreover the properties such as high melting point, water resistance and chemical stability are positively impacting the candelilla wax market. However, availability of alternate products such as carnauba wax and beeswax, and restriction on the extraction of candelilla wax will act as restraining factor the candelilla wax.
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Candelilla Wax Market: Regional Outlook
North America is estimated to be promising market for candelilla wax owing to the high demand for bio-based products and the products with natural ingredients. Along with North America, Latin America is also estimated to be potential market for candelilla wax due the easy availability of the raw materials and increasing demand from various end-use industry. Asia Pacific will be a prominent market for candelilla wax and is estimated to witness lucrative growth owing to the increased urbanization, rising health awareness and personal care consciousness along with the high presence of personal care & cosmetic products. Increasing inclination towards the consumption of natural based and vegan-based products will make Europe a significant market for candelilla wax.
Candelilla Wax Market: Key Participants
Examples of some of the market participants operating in the global Candelilla Wax market are:
Koster Keunen, NOREVO, Strahl & Pitsch, Inc., Carmel Wax Inc., Kahl GmbH & CO., Multiceras, Frank B. Ross Co., Inc., Poth Hille & Co Ltd. and Calwax among others.