Waxes
are extensively used by various end user industries. Natural waxes
are obtained through ecological process of biogenesis without any
involvement of chemical process. Natural waxes can be derived from
plant as well as animal source and represents renewable source of
wax. Thereby, gaining traction among wax manufacturers. Carnauba wax
is plant based resin wax which is obtained from palm leaves of
Copernicia prunifera, found exclusively in Brazil. The wax is
attained by beating the dried leaves of palm and then refining it.
Carnauba wax is considered to be naturally occurring hardest wax. Due
to its durability and high melting point, carnauba wax finds
extensive use in various sectors such as cosmetics, automobiles,
pharmaceuticals among others. Carnauba wax is consist of various
exclusive properties such as it swells when exposed to water, has
potential to retain oil and exhibits prominent glossy characteristics
differentiating it from other naturally occurring wax. Apart from
natural source, carnauba wax can also be obtained organically by
filtering the highest quality of untreated carnauba wax.
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Increasing
inclination of consumers towards naturally-derived products is
driving the market for carnauba wax. Carnauba wax is hypo allergic in
nature and easy to swallow hence finds extensive use in
pharmaceutical industry for pills coating. As food & beverage
industry is under continuous innovation, product such as carnauba wax
that exhibit excellent emulsifying properties and binding capacity
for oils, are gaining traction. Moreover, due to its high melting
point and glossy characteristics it is becoming a desired natural
additive choice among manufacturers of cosmetic industry for
manufacturing of lip balms, lipsticks, mascaras among others. Thus,
broad spectrum applicability of carnauba wax is propelling the market
growth. Moreover, due to its hardness and viscosity modifier
properties, it is extensively used as polish wax in automobile
industry. Carnauba wax is gaining traction among consumers over the
bee wax due to broad base of application hence accelerating the
market growth.
However,
the tropical variety of carnauba wax may cause some side effects such
as skin rash, contact dermatitis, inflammation of hair follicle.
Thereby, restraining the growth of carnauba wax market. Moreover,
owing to less commercialisation, carnauba wax market offers low
profitability margins to the manufacturers across the globe.
The
global carnauba
wax market is categorised into seven regions, namely, Western
Europe, Eastern Europe Middle East and Africa (MEA), Asia Pacific
excluding Japan (APEJ), , Japan Latin America and, North America.
Brazil accounts for the major share of the market as it is
exclusively cultivated in the North-eastern Brazil. Asia pacific
region is considered to be prominent segment for growth due to
opportunistic investment and manufacturing hub for various industries
under which carnauba wax finds extensive use. North America exports
its major share of carnauba wax from Brazil.
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