Ozokerite wax is a natural cerium derived from kerogen deposits. It is a pale yellow or white wax substance that consists of kerogen and other alkanes. Ozokerite was originally found in central Europe in the 19th century and has since been mined in other parts of the world including Australia, Canada, Ireland, Brazil and USA. Ozokerite has a variety of industrial uses due to its thermostable nature and water resistance. It is used as components in products such as cosmetics, polishes, electrical insulators, adhesives and more. The global ozokerite wax market has been growing in recent years due to increasing demand from end use industries and rising awareness about the unique properties of natural waxes.
(Market Dynamics):
The global ozokerite wax market is driven by factors such as growing personal care and cosmetics industry, rising electrical and electronics demand, and increasing preference for natural ingredients in various products. Ozokerite wax has properties that make it suitable for use as raw material in skincare creams, lotions, makeup products and more. This is fueling the demand from cosmetics and personal care segment. Moreover, ozokerite finds wide application as electrical insulator in components of motors, generators, wires and cables due to its heat-resistant ability. This is propelling the demand from electrical industry. However, availability of low-cost synthetic substitutes and fluctuations in raw material prices can hamper the market growth. On the other hand, development of innovative applications in new industries and regions presents high growth opportunities for ozokerite wax producers and manufacturers.
(Key features of the study):
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook