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Carnauba Wax Market Research Report Information By Product Type (Type 1, Type 2, and Type 4), By Form (Powder and Flakes), By Application (Food & Beverages, Pharmaceuticals, Personal Care, and Automotive), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

ID: MRFR/F-B & N/0894-HCR | 139 Pages | Author: Sakshi Gupta| April 2024

Global Carnauba Wax Market Overview

Carnauba Wax Market Size was valued at USD 0.28 billion in 2022. The Carnauba Wax market industry is projected to grow from USD 0.29 Billion in 2023 to USD 0.35 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.15% during the forecast period (2023 - 2030). Rising demand for chewy confectionery and increased consumption by the youth population are the key market drivers enhancing the market growth.Carnauba Wax Market OverviewSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Carnauba Wax Market Trends

  • Growing applications of Carnauba wax to boost the market growth

Carnauba wax is made from Copernicia prunifera palm leaves, only grown in Brazil. The wax is obtained by beating the wax off of dried palm fronds and then purifying it. The color of pure wax is yellow. 82-86 °C (180-187 °F) is a very high melting point for carnauba wax. It is nearly insoluble in water and ethanol and is harder than concrete. It is hypoallergenic and non-toxic. It is polishable to a very high gloss.

Carnauba Wax has an extraordinarily high melting point, which makes it perfect for boosting the thermostability of cosmetic formulations, which protects their molecular or physical makeup from high heat. Carnauba Wax is the best ingredient for candles and polishes, such as wood or furniture, due to its natural hardness, luster, and water-proofing properties. It is a well-liked hypoallergenic additive to cosmetics like face creams, deodorants, different types of makeup, and sunblock due to its emulsifying, thickening, softening, and emollient properties. Carnauba Wax is a natural binder in these products, extending their holding power and the amount of time left on the skin or hair. This makes it a popular component of ointments, which must stay on the skin for extended periods to facilitate wound healing and hair products like styling waxes.

Carnauba Wax blends well with various other waxes derived from plants, animals, and minerals, as well as with a variety of natural and synthetic resins. Carnauba Wax enhances the binding abilities of emulsion ingredients in all of these mixtures, making it simpler for liquids to bind with chemical ingredients, especially oils. This aids in producing products with a long-lasting creamy consistency. Incorporating Carnauba Wax with any of these other waxes enhances the density of the lipids when used in formulations for stick products, such as deodorants, lipsticks, or stick foundations. The products can maintain their sturdy structures by gliding easily over the skin. Carnauba Wax is perfect for use in makeup because of its easy spreadability, which keeps the form flexible rather than rigid and makes makeup application and adjustability simple. These characteristics also make carnauba wax a perfect depilatory agent for short-term hair removal from the body. Thus the growing application owing to its applications is anticipated to enhance the Carnauba Wax market CAGR.

Moreover, major market players have introduced new products with enhanced capabilities. They have made the necessary preparations to enhance the functionality and accuracy of new products. Additionally, market participants are looking for ways to broaden their selection of products made with carnauba wax in various industries, including adhesives, roofing, and personal care. Many businesses announced the release of a new item designed specifically for automobiles capable of cleaning alloys without corrosive effects. Introducing such new products is one of the other factors boosting the growth of the Carnauba Wax market revenue.

Carnauba Wax Market Segment Insights

Carnauba Wax Product Type Insights

The Carnauba Wax Market segmentation, based on product type, includes Type 1, Type 2, and Type 4. The Type 1 segment held the majority share in 2022 in the Carnauba Wax Market revenue. Type 1 is the purest form of the product and is highly sought-after in specialized applications like food and pharmaceutical products. It is also employed in producing high-end automotive wax formulations, which are employed to improve the shine and aesthetic appeal of automobile bodies. The demand for the product is anticipated to rise, particularly in fruit coatings. The type 4 segment is anticipated to grow with the fastest CAGR during the forecast period. Due to rising demand for the product as a mold release agent, type 4 demand is anticipated to increase in the coming years..

Carnauba Wax Form Insights

The Carnauba Wax Market segmentation, based on form, includes powder and flakes. The powder segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period. It is offered in lumps, flakes, or powder that ranges from light brown to pale yellow and is graded Type 1, Type 3, or Type 4 according to quality. It is distinguished by having a weak aroma and almost no flavor. Such factors positively impact market growth.

Figure 1: Carnauba Wax Market, by Form, 2022 & 2030 (USD billion)Carnauba Wax Market, by Form, 2022 & 2030Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Carnauba Wax Application Insights

The Carnauba Wax Market data has been bifurcated by surgery into food & beverages, pharmaceuticals, personal care, and automotive. The automotive segment dominated the market in 2022 owing to the high-demand premium shine wax. The food & beverage segment is projected to be the faster-growing segment during the forecast period, 2022-2030. There are distinct uses for every kind of carnauba wax in various industries. Carnauba wax is increasingly in demand for edible products like cosmetics, chocolates, and candies for glazing and shining agent applications.

Carnauba Wax Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific Carnauba Wax market accounted for USD 0.1 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. As a result of the Region's rapid industrialization and the subsequent growth of numerous application industries, it is anticipated that the growth will be driven by rising product consumption in Asia Pacific. Market expansion is anticipated in this area due to rising demand for food glazing agents from China's expanding food and confectionery sector. Another factor anticipated to speed up market growth in the Asia Pacific is the growing adoption of the product in the automobile sector. Moreover, the China Carnauba Wax market held the largest market share, and the India Carnauba Wax market was the fastest-growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: CARNAUBA WAX MARKET SHARE BY REGION 2022 (%)CARNAUBA WAX MARKET SHARE BY REGION 2022Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe Carnauba Wax market accounts for the third-largest market share. Due to the rising demand for wax in cosmetics and food glazing, the carnauba wax market is anticipated to expand. Over the course of the forecast period, the market is anticipated to experience steady growth with little change in production levels. Further, the Germany Carnauba Wax market held the largest market share, and the UK Carnauba Wax market was the fastest-growing market in the European Region

The North America Carnauba Wax Market is the second-largest market share and is expected to grow at the fastest CAGR from 2022 to 2030. The rising use of automotive care waxes is anticipated to increase demand for the product. High demand for the product is likely to result from the expansion of the automotive care sector due to rising new car sales combined with rising used car sales.

Carnauba Wax Key Market Players & Competitive Insights

Major market players are investing a lot of money in R&D to expand their product offerings, fueling further growth in the Carnauba Wax market. With significant market developments like new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic initiatives to expand their global footprint. Carnauba Wax industry competitors must provide affordable products to grow and survive in a more competitive market environment.

One of the primary business strategies manufacturers adopt in the global Carnauba Wax industry is using carnauba wax for various applications. In recent years, the Carnauba Wax industry has seen many new launches in the market. There are several Carnauba Wax market major players, such as Foncepi Comercial Exportadora Ltda (Brazil), Carnauba do Brasil Ltda (Brazil), Brasil Ceras (Brazil), Tropical Ceras Do Brasil Ltda. (Brazil), Strahl & Pitsch Inc. (US), Pontes Industria de Cera ltda. (Brazil), The International Group Inc. (Canada), Kahl GmbH & Co KG (Germany), Norevo GmbH. (Germany), Koster Keunen (Holland), and B.V.(Netherlands), and others.

Carnaba do Brasil Ltda, a company that processes carnauba wax, was established in 2004. Its designers, Gerardo Azevedo and Dedé Tibrcio, both seasoned experts in the carnauba industry, drew on their collective experience to create it.

Strahl & Pitsch Inc. specializes in importing, refining, and custom blending the finest Beeswax, Carnauba, Candelilla, and other waxes worldwide. Providing customers with specialized wax product blends created to meet a specific need, industry trend, or performance requirement has long been a priority for Strahl & Pitsch, and offering the best refined natural waxes available. The company offers Type 1, Type 3, and Type 4 Carauba wax.

Key Companies in the Carnauba Wax market includes

  • Foncepi Comercial Exportadora Ltda (Brazil)

  • Carnauba do Brasil Ltda (Brazil)

  • Brasil Ceras (Brazil)

  • Tropical Ceras Do Brasil Ltda. (Brazil)

  • Strahl & Pitsch Inc. (US)

  • Pontes Industria de Cera ltda. (Brazil)

  • The International Group Inc. (Canada)

  • Kahl GmbH & Co KG (Germany)

  • Norevo GmbH. (Germany)

  • Koster Keunen (Holland)

  • V.(Netherlands), among others

Carnauba Wax Industry Developments

September 2022: Turtle Wax, a Chicago-based auto care company, has partnered with Carxotic to launch a co-branded auto care studio in Mumbai. The store is at Bhulabhai Desai Marg, Breach Candy, and has a team of service personnel and the most recent Turtle Wax detailing technologies. Numerous care packages from Turtle Wax's ceramic and graphene range are among the many cars detailing services and products available at the new Turtle Wax Car Care Studio.

January 2021: Infinity Wax launched a second car care item enhanced with the company's graphene technology. Graphene Wax, a new generation of high-performance car wax, was introduced by Infinity Wax using AGM's market-leading Genable graphene nanoplatelet dispersions.

Carnauba Wax Market Segmentation

Carnauba Wax Product Type Outlook

  • Type 1

  • Type 2

  • Type 4

Carnauba Wax Form Outlook

  • Powder

  • Flakes

Carnauba Wax Application Outlook

Carnauba Wax Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2022 USD 0.28 billion
Market Size 2023 USD 0.29 billion
Market Size 2030 USD 0.35 billion
Compound Annual Growth Rate (CAGR) 3.15% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2019 - 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product Type, Form, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Foncepi Comercial Exportadora Ltda (Brazil), Carnauba do Brasil Ltda (Brazil), Brasil Ceras (Brazil), Tropical Ceras Do Brasil Ltda. (Brazil), Strahl & Pitsch Inc. (US), Pontes Industria de Cera ltda. (Brazil), The International Group Inc. (Canada), Kahl GmbH & Co KG (Germany), Norevo GmbH. (Germany), Koster Keunen (Holland), and B.V.(Netherlands)
Key Market Opportunities Growing application in various end-use industries
Key Market Dynamics Rising population Growing demand for confectionery products

Frequently Asked Questions (FAQ) :

The Carnauba Wax Market size was valued at USD 0.28 Billion in 2022.

The global market is projected to grow at a CAGR of 3.15% during the forecast period 2022-2030.

Asia Pacific had the largest share of the global market

The key players in the market are Foncepi Comercial Exportadora Ltda (Brazil), Carnauba do Brasil Ltda (Brazil), Brasil Ceras (Brazil), and Tropical Ceras Do Brasil Ltda. (Brazil), Strahl & Pitsch Inc. (US), Pontes Industria de Cera ltda. (Brazil), The International Group Inc. (Canada), Kahl GmbH & Co KG (Germany), Norevo GmbH. (Germany), Koster Keunen (Holland), and B.V.(Netherlands).

The powder category dominated the market in 2022.

The automotive held the largest share of the global market.

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