Paraffin Wax Market To 2022- Industry Trends, Forecast: Grand View Research, Inc.

Global paraffin wax market is expected to witness significant growth on account of increasing application scope in electrical and lubricant blending industries. Paraffin wax finds increasing application in manufacturing electrical insulation. Growing need for electrical insulation in power industry owing to rising short circuit incidents is expected to impact the global paraffin wax market positively. Paraffin wax is also used as anti-ozonant agent in rubber compounds to prevent it from cracking. Increasing application scope of rubber in automotive industry for tires, belts, flooring, and hoses is expected to drive the global market over the next six years.
http://www.grandviewresearch.com/industry-analysis/paraffin-wax-market