The global Polyethylene Wax Market is projected to grow at an impressive rate through 2028 due to increasing demand from the packaging industry. China’s overall production of plastic products amounted to 80 million metric tons in 2021.
Polyethylene wax refers to synthetic wax. It is a high molecular weight polyethylene made from chains of the ethylene monomer. There are various ways to make polyethylene wax, including by polymerizing ethylene. Due to its characteristics, including formulation flexibility, low melt viscosity, strong heat resistance, thermal stability, and a controlled molecular weight, it is applied in the plastic production process. Candles, rubber adhesives, plastic additives, lubricants, and cosmetics employ polyethylene wax. Additionally, it applies coatings, bonds, and printing inks. Consequently, the global polyethylene wax market is experiencing profitable growth due to rising product demand.
Manufacturers are now using metallocene, a polymerization process, to produce HDPE and LDPE because it offers enhanced and improved performance. This is anticipated to support the market expansion of polymerization technology for PE wax. Manufacturing of co-polymers, oxidized, acid-modified, and unique monomers uses modification technology. The technological share is anticipated to expand during the projection period because of the rapid demand for acid-modified and oxidized products.
Growing Demand from The Construction Industry
According to the United Nations, the world’s population reached 8 billion on November 15, 2022. Hence,there is promising demand in the construction industry to meet the demand for urban and rural homes. The market for polyethylene wax is anticipated to be driven by the expanding construction industry. Because it gives a good level of water repellency, enhances texture, has anti-settling qualities, and offers abrasion resistance, polyethylene wax is used in paints and coatings. Emulsions made from polyethylene wax improve texture and prevent color fading.
Increasing Demand from Packaging Industry
Increased demand for FMCGs, pharmaceutical supplies, and other consumer durables has increased the need for packaging. These factors, together with growing urban populations, are to blame for the increase in packaging requirements. According to the Flexible Packaging Association, more than 60% of the market comprises flexible packaging for food. The demand for flexible packaging is growing swiftly because it has the potential to offer novel solutions to many packaging issues. IBEF further notes that the food processing industry, which accounts for 32% of India’s total food market and ranks fifth in production, consumption, and exports, is one of the country’s most important industries, with 70% of revenues coming from retail.
Growing Technological Advancement
Due to the rising demand from numerous sectors, several aggressive market players are concentrating on raising polyethylene wax output, assisting in the market’s expansion. Market participants compete to maintain an edge over rivals. To investigate cutting-edge methods for manufacturing polyethylene wax, scientists from industrialized nations are expanding their research activities in polymer science. Technological advancements are accelerating the growth of the polyethylene wax market. Market expansion is accelerating across Asia, particularly in China and India. The market is expected to develop due to the surge in demand for affordable polyethylene wax.
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Market Segmentation
The global Polyethylene Wax market is segmented by type, process, and application. Based on type, the market is divided into HDPE Wax, LDPE Wax, Oxidized Polyethylene Wax, and Others. Based on the process, the market is segmented into Polymerization, Modification, and Thermal Cracking. Based on application, the market is segmented into Plastic Processing, Hot-Melt Adhesive, Ink & Coating Industry, and Others.
Market players
BASF SE, Innospec Inc, SCG Chemicals Public Company Limited, Mitsui Chemicals, SABIC, LyondellBasell Industries N.V., Trecora Resources, Honeywell International Inc., The Lubrizol Corporation, and Westlake Chemical Corporation are some of the key market players.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Type· Process· Application |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States, Canada, Mexico; China, India, Japan, South Korea, Australia; Germany, France, United Kingdom, Italy, Spain; Brazil, South Africa, UAE, Saudi Arabia, Turkey, and Egypt. |
| Key companies profiled | BASF SE, Innospec Inc, SCG Chemicals Public Company Limited, Mitsui Chemicals, SABIC, LyondellBasell Industries N.V., Trecora Resources, Honeywell International Inc., The Lubrizol Corporation, and Westlake Chemical Corporation |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, Global Polyethylene Wax Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Global Polyethylene Wax market, by type:
- HDPE Wax
- LDPE Wax
- Oxidized Polyethylene Wax
- Others
- Global Polyethylene Wax market, by process:
- Polymerization, Modification
- Thermal Cracking
- Global Polyethylene Wax market, by application:
- Plastic Processing
- Hot-Melt Adhesive
- Ink & Coating Industry
- Others
- Global Polyethylene Wax Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Middle East & Africa
- North America
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies in the Global Polyethylene Wax Market.
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