Industrial Wax Market Booms: Paraffin and Microcrystalline Wax Drive Growth, Reaching US$ 8.36 Billion in 2024

The global Industrial Wax Market is experiencing significant growth, driven by rising demand for paraffin wax in packaging and the increasing use of microcrystalline wax in cosmetics and personal care products. The market is projected to reach US$ 12.85 billion by 2034, with North America and East Asia leading the charge. Key players like Sasol, The Blayson Group Ltd, and Indian Oil Corporation Ltd are driving innovation and expanding their presence in this booming sector.

Flexible Packaging Market to Witness Significant Growth, Driven by Sustainability and Innovation

The global flexible packaging market is projected to experience substantial growth from 2024 to 2028, fueled by a rising focus on extending product shelf life and advancements in sustainable packaging solutions. The market is expected to expand at a CAGR of nearly 3.93% during the forecast period. This growth is attributed to the increasing demand for lightweight, convenient, and environmentally friendly packaging options. Key players in the industry are focusing on incorporating recyclable and compostable materials, such as bio-based plastics, into their packaging solutions.

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