Algeria, Ghana, Nigeria, and Ivory Coast Petroleum Wax Market Share, Future Growth, Industry Analysis, Outlook, Insights, Share and Forecasts Report 2030
Robust Business Continuity Plans Rescue Manufacturers from Supply Disruptions amidst COVID-19 Crisis
Companies in the Algeria, Ghana, Nigeria, and Ivory
Coast petroleum wax market are closely monitoring the evolving situation of the
COVID-19 (coronavirus) crisis in order to minimize supply chain disruptions.
They are strategizing on rigorous business continuity plans to ensure the
well-being of its end-use customers. Manufacturers in the petroleum wax market
in Algeria, Ghana, Nigeria, and Ivory Coast are establishing a production team
with a skeleton crew in offices and laboratories to ensure a continued business
model amidst the COVID-19 pandemic.
Manufacturers are forming a working group that
assesses and takes the necessary steps according to changing circumstances. It
has been observed that many petroleum wax companies are not facing any issues
in their raw material supplies. There has not been a significant impact on the
supply of personal care products.
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Paraffin Wax Acquires
Prominence in Beauty and Personal Care Industry
Paraffin wax is being
highly publicized for cosmetic products in the Algeria, Ghana, Nigeria, and
Ivory Coast petroleum wax market. Paraffin wax has a melting point, which is
close to natural human body temperature resulting in easy application on the
skin. Hot paraffin wax is growing popular to soothe achy joints and offer
back-of-the-neck relaxation. Thus, companies in the petroleum wax market in
Algeria, Ghana, Nigeria, and Ivory Coast are tapping into incremental
opportunities in paraffin hand treatments to create revenue streams.
Individuals with dry or cracked skin as well as
those looking to soften their calluses are increasingly opting for paraffin
hand treatments. Paraffin wax distributors are entering into tie-ups with
stakeholders in the beauty and personal care sector, as many salons and spas as
paraffin wax pedicures and manicures are becoming increasingly mainstream in
salons and spas. The trend of paraffin wax bath in households is another key
driver fueling market growth.
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Advantages of Highly
Refined Petroleum Jelly Offset Natural Ingredients in Products
The petroleum wax market in Algeria, Ghana, Nigeria,
and Ivory Coast is anticipated to progress at a favorable CAGR of ~5% during
the forecast period. However, natural substitutes to petroleum jelly pose
as a restraint for manufacturers. Oils derived from castor seeds, beeswax, coconut,
olive, and shea are replacing petroleum jelly in most personal care products,
as consumers are becoming increasingly aware about the advantages of natural
ingredients in beauty products. Hence, companies in the petroleum wax market in
Algeria, Ghana, Nigeria, and Ivory Coast are increasing their R&D in
producing highly refined and triple-purified petroleum jelly to make personal
care products safe for utilization.
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In order to entice customers, manufacturers are
introducing new scents, pigments, and shimmers in products to increase uptake.
They are increasing awareness about how lip care products made with petroleum
jelly help reduce the amount of water that evaporates through the skin over
time. Manufacturers are increasing their production capabilities to
develop all-purpose moisturizers that resonate with millennials and Gen Z
shoppers.
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