Emulsifying wax is a blend of cetostearyl alcohol  made from Coconut Oil and Ethoxylated Sorbitan Monostearate) derived from Corn. 

It is suitable for use in vegan products

When used in lotions and creams it acts as a thickener and emulsifier. Its main purpose is to make sure that the oil and water ingredients in the recipe bind well together and stay combined. Without an emulsifier, the oils in the product do not mix with water.

Usually 0.3-0.4% is needed to form a stable emulsion. If more is added it acts as a thickener.

Emulsifying Wax comes in the form of waxy white flakes or beads.