India Ammonia Market, By Grade, By Application, By Manufacturing Process, Region, Competition Foreca (Business Opportunities - Advertising Service)

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India Ammonia Market, By Grade, By Application, By Manufacturing Process, Region, Competition Foreca

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The India Wax Market is anticipated to grow at an impressive rate in the projected period. Wax is an organic compound that is ductile and aquaphobic at an average temperature. It contains higher alkane series and fatty acids that typically melt at 40 degrees Celsius. Due to the viscosity of the liquid, it is impenetrable in water but solvable in natural and non-polar solvents. Waxes are extracted from different sources like plants, animals, and petroleum. Characteristically, natural wax contains unsaturated bond and involve various functional groups such as fatty acid, primary and secondary alcohol, ester, aldehydes, and ketones.
In comparison, synthetic waxes consist of long chain aliphatic carbon, which lacks function groups. Wax is used to make candles, waterproofing, crayons, friction reducer, coating & polish, tires, electric appliances, matchsticks, fabrics, and cosmetic products. Due to the growing population, there will be an increase in the demand for the product mentioned above. Many initiatives or policies are run by the government, indirectly impacting the wax market's growth. Furthermore, growing awareness about bio-wax and technological advancement are other factors expected to impact the market's growth through 2028 positively.
Growing Food Preservation and Coating Led Increase in Demand
As the population grows, the demand for food is expected to increase worldwide. There is a massive scarcity of food in the world due to the limited amount of resources. According to the Central Institute of Post-Harvest Engineering and Technology (CIPHET), in 2020, as per their estimation, more than 16% of fruit and vegetables get destroyed due to the lack of proper storage and technology. Government and private market players are working and taking initiatives to safeguard and tackle this drastic situation. The government has established many research institutions for food preservation through coating technology. All this effort is going to impact the growth of the food preservation market and indirectly drive the increasing trend in the wax market.

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Target State: All States
Target City : Navi Mumbai
Last Update : Nov 15, 2022 12:11 AM
Number of Views: 36
Item  Owner  : vidhya
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2023-03-25 (0.230 sec)