Global Carnauba Wax Market to Reach $473.6 Million by 2030
The global market for Carnauba Wax estimated at US$314 Million in the year 2023, is expected to reach US$473.6 Million by 2030, growing at a CAGR of 6% over the analysis period 2023-2030. Type 1 Carnauba Wax, one of the segments analyzed in the report, is expected to record a 5.9% CAGR and reach US$188.8 Million by the end of the analysis period. Growth in the Type 3 Carnauba Wax segment is estimated at 6.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $82.3 Million, While China is Forecast to Grow at 9.2% CAGR
The Carnauba Wax market in the U.S. is estimated at US$82.3 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$110.1 Million by the year 2030 trailing a CAGR of 9.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$67.3 Million by the year 2030.
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