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.
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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.
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.
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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Manufacturers Comply with Purity Regulations to Generate Revenue Streams in Food Packaging
There is a growing demand for high purity specialty waxes in the petroleum wax market in Algeria, Ghana, Nigeria, and Ivory Coast. Hence, manufacturers are increasing their R&D efforts in refining technologies such as distillation and de-oiling in order to produce high-quality personal care products. Apart from beauty products, manufacturers are gauging value-grab opportunities in the field of food additives and food packaging with the help of innovations in microcrystalline waxes. As such, manufacturers in the petroleum wax market in Algeria, Ghana, Nigeria, and Ivory Coast are increasing their production capacities for microcrystalline wax with the help of high-pressure hydrogenation and purification methods.
Manufacturers in the petroleum wax market in Algeria, Ghana, Nigeria, and Ivory Coast are boosting their credibility by abiding the purity and cosmetic regulations issued by the global pharmacopoeia. Ductility, smoothness, and outstanding oil-absorption capacity of microcrystalline wax is acquiring prominence in foodstuff, lip base materials, and other cosmetic formulations.
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Analysts’ Viewpoint
Companies in the petroleum wax market in Algeria, Ghana, Nigeria, and Ivory Coast are increasing efforts to remain highly dynamic amidst the COVID-19 crisis by contacting customers in case of delay in deliveries. Paraffin wax bath machines are being highly preferred by customers to rejuvenate the skin.
Microcrystalline waxes are acquiring prominence in cosmetic products to prevent sweating or oil migration after application. However, the clean beauty movement is creating increased demand for natural ingredients. Hence, companies should gain efficacy in highly refined and high-purity petroleum waxes to win consumers. They should introduce enticing ingredients such as new scents and pigments in products by promoting safety attributes of petroleum waxes.
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