Lignite-An dominant mineral that used for the production of mineral waxes -Market Opportunity Assessment Study 2020
Waxes are solid material that melt and convert into liquid state at a slightly higher temperature. Sources of wax can be segregated into three segments: oil, mineral and plants & animals. Crude oil is the most dominant source of waxes moreover owing to higher demand for crude oil in other application segments, mineral waxes have been gaining acceptance and demand for mineral waxes has been surging across the globe. Lignite is the most dominant mineral used for the production of mineral waxes and this trend is anticipated continue for a foreseeable future. Ozokerite, peat and ceresin waxes are among other major mineral waxes sources. Environmental hazards associated with processing of crude oil coupled with volatile pricing of crude oil have led to decline in demand for crude oil based waxes. Moreover, high demand for crude oil for other more lucrative application segments has been the foremost factor driving demand for mineral waxes. Increasing demand for wa...