The FT wax market value is projected to reach USD 1.1 billion by 2028, according to a new research report by Global Market Insights Inc. Rising consumer focus on hygiene and sanitation coupled with numerous benefits offered by product such as low viscosity, high softening point, and high melting points supporting market demand across plastic, rubber, packaging, and other consumer goods application will propel the industry outlook.
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Fischer-tropsch wax is a byproduct of wax that is generated in the manufacturing of liquid fuels and other products from natural gas and coal. It is highly favored in the textile & paper sectors and as a mold release agent in plastic processing activities. The growth of the FT wax market can also be ascribed to the rising need for petroleum jelly applications. These waxes are rich in saturated straight-chain hydrocarbons and offer a lower oil content, narrower carbon number distribution, greater hardness, and higher melting point.
Here are a few important applications that will significantly influence the development of this industry space.
Increasing penetration in paints & coatings
On account of their high melting point as well as low viscosity and hardness at high temperatures, the demand for high-melt FT waxes is expected to significantly grow to ensure superior performance in the paints & coatings sector. As it is saturated with straight alkanes, it does not contain double bonds. It, therefore, offers good weather resistance and strong anti-oxidation ability. The fischer-tropsch wax industry will also be influenced by rising adoption as a processing aid for powder coatings as well as scratch proofing and matting agents.
Potential in the plastic industry
FT wax is increasingly employed in the coloring and production of modified plastics, as it contributes to excellent smoothness in the mixture and dispersion of the filler. It can also be applied to plastic processing, mainly in injection molding, extrusion and pelletizing. In fact, melted Fischer Tropsch wax can effectively wet the dyes while reducing the extrusion viscosity. In the process of creating color masterbatch and modified plastics, the wax also helps with the dispersion and excellent smoothness of the fillers.
Rising utilization in synthetic rubbers
The FT wax market is expected to expand owing to rising adoption as an antioxidant and toughening agent in the rubber industry. This product is mainly an n-alkane, that is required to be properly isomerized when employed as raw material for rubber protective waxes. Apart from aiding dispersion and processing, these waxes are responsible for the glossy surfaces of some rubber products.
Growing incorporation in printing inks
Fischer Tropsch wax is increasingly used in the ink industry as it mainly provides the effect of anti-scuffing, reduced viscosity and control gloss. The rising need for high-melt waxes that offer a unique combination of low viscosity, high melting point, and hardness, and ensuring superior performance will further influence the product application scope.
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In a nutshell, several prominent FT wax industry participants are constantly turning to well-known marketing strategies, such as capacity expansions and strategic team-ups for improved revenues. They are also taking up contracts for increased production. Rising application in polish and other sanitation goods, as well as corrugated and solid fiber boxes, will further drive the product demand.
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