Middle East & Africa Wax Emulsion Market Forecast to 2031 - Regional Analysis - by Type and Application

The Middle East & Africa wax emulsion market was valued at US$ 85.69 million in 2023 and is expected to reach US$ 124.63 million by 2031; it is estimated to register a CAGR of 4.8% from 2023 to 2031.

Development of Bio-Based Wax Emulsions Bolsters Middle East & Africa Wax Emulsion Market

Bio-based polymers are environmentally friendly and are the subject of extensive research in various fields. Bio-based materials exhibit sustainability, thereby driving their use in commercial applications. The easy availability of natural raw materials to produce bio-based polymers is an added factor fueling its supply and demand. Further, due to rising concerns and awareness about the social and environmental impacts of synthetic wax emulsion systems, customers are shifting toward the utilization of bio-based wax such as carnauba and beeswax.

Stringent government regulations pertaining to the utilization of toxic chemicals across the world have encouraged many market players to develop nontoxic alternatives and green emulsions, aiding global sustainability goals. The rising demand for bio-based materials has prompted manufacturers to develop bio-based wax emulsions for various applications.

In 2023, Emulco NV introduced AquaVeg bio-based wax emulsion for the panel board industry. In 2023, BYK launched a bio-based wax emulsion made from modified rice bran, free from microplastics. It is produced for applications in household care products, polishes, and aqueous coatings. In 2022, Deurex Wax Company launched biomere-based wax emulsion, a biodegradable wax series.

In 2022, Münzing Corporation developed WÜKONIL NAT 1000, a bio-based and biodegradable wax dispersion, for wood and architectural coating applications. Thus, the replacement of petroleum-derived polymers with bio-based materials or polymers, otherwise sourced from natural sources or natural waxes, is expected to become a significant trend in the wax emulsion market.

Middle East & Africa Wax Emulsion Market Overview

A surge in infrastructural projects, sustainable construction, and industrialization in the Middle East & Africa are driving the demand for construction and building materials. As per the International Trade Administration, the construction sector's value in the UAE is expected to grow at 4.7% per annum in the next five years. The growth can be attributed to the growing construction initiatives. The growing need for residential and commercial buildings in the Middle East & Africa is creating lucrative opportunities in the architectural paints & coatings industry. According to the Riyadh Exhibitions Company Ltd report, the paper and paperboard packaging market is projected to reach US$ 5.87 billion by 2028 in Saudi Arabia.

As per the Packaging Council of South Africa (Packaging SA), South Africa consumed ~3.84 million metric tons of packaging (glass, paper, metal, and plastic) in 2022. Wax emulsions improve certain characteristics such as water resistance, surface finish, and high level of opacity of paper. Thus, the development of the region's construction and paper packaging industry is expected to drive the demand for wax emulsion.

Middle East & Africa Wax Emulsion Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa Wax Emulsion Market Segmentation

The Middle East & Africa wax emulsion market is categorized into type, application, and country.

Based on type, the Middle East & Africa wax emulsion market is segmented into polyethylene, polypropylene, paraffin, vegetable-based, and others. The others segment held the largest market share in 2023.

In terms of application, the Middle East & Africa wax emulsion market is categorized into paints & coatings, printing inks, textile, personal care, packaging, and others. The paints & coatings segment held the largest market share in 2023.

By country, the Middle East & Africa wax emulsion market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa wax emulsion market share in 2023.

BASF SE, Hexion Inc, Repsol SA, Sasol Ltd, The Lubrizol Corp, Clariant AG, Michelman Inc, H&R Group, and Productos Concentrol SA., are some of the leading companies operating in the Middle East & Africa wax emulsion market.