Polyethylene wax is a synthetic wax produced at the time of polymerization of low molecular weight polyethylene. It has good dispersion and fluidity remolding, electrical properties, chemical-resistant properties, and good light resistance. The advantage PP wax provides is its high practicality and use in a wide range of applications. The PP wax can be used as a wear-resisting agent in the printing and inks industry and develop the abrasion resistance of inks.
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The Global Polyethylene Wax Market was valued at USD 1.15 billion in 2021 and is expected to reach USD 1.69 billion by 2029, registering a CAGR of 4.90% in 2022-2029. Major factor driving the growth of this market is the increased usage of polyethylene wax in packaging. PE wax is derived from the petroleum polymers and can survive in any environmental hazards. It is one of the most durable types of packaging which is used. Polyethylene packaging doesn't allow water vapor to pass through, so it can help seal the products and protect them from dangerous elements. The versatility of polyethylene helps in creating a variety of advertising opportunities for the manufacturers without having the particular nature of the product.
The application of synthetic wax for the improvement of foamed bitumen parameters across the world will drive the market's growth rate
The polyethylene wax is showing this effect for some bitumen. To acknowledge the broader range of applications, the bitumen was modified with synthetic wax, resulting in favorable foaming parameters with perfect foam dispersion and fine coatings. The penetration, softening point, penetration index, and range of plasticity is improved due to this enhancing quality of the synthetic wax upon some foamed bitumen parameters. The addition of synthetic wax changed the grade of the bitumen, contributing to improvements in the pavement layers. It also expanded the plasticity range of the foamed bitumen. Such applications serve as an opportunity for the polyethylene wax industry to explore with new developments and applications in the markets.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Low Density Polyethylene Wax, High Density Polyethylene Wax, Oxidized Polyethylene Wax, Micronized Polyethylene Wax, Others), Process (Polymerization Type, Modified Type, Thermally Cracking Type, Others), Form (Powder, Granules, Flakes, Pastilles, Micronized Waxes, Aqueous Wax Emulsions), Grade (Emulsifiable, Non-Emulsifiable), Production Process (High-Pressure Polymerization, Synthesis By The Ziegler-Natta Method, Thermal Degradation Process of Polyethylene, Oxidation of Synthetic Waxes, Walter-Reppe Synthesis, Metallocene Process, Others), Application (Plastic Processing, Hot-melt Adhesive, Ink and Coating, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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BASF SE (Germany), ChemPoint (Israel), Clariant (Switzerland), Trecora Resources (U.S.), AVERY DENNISON CORPORATION (U.S.), Marcusoil (U.S.), Mitsui Chemicals, Inc., (Japan), 3M (U.S.), Sika AG (Switzerland), CEM Corporation (U.S.), Honeywell International Inc.,(U.S.), Westlake Corporation (U.S.), Formosa Plastics Corporation (U.S.), Innospec (U.S.), Clariant (Switzerland) and Goyel Chemical Corporation (India) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
Global polyethylene wax market is categorized into five notable segments which are based on the basis of type, form, raw material, grade and production process.
- On the basis of type, the market is segmented into polymerization type, modified type, thermally cracking type and others. In 2022, polymerization type segment is expected to dominate the market and grow at a CAGR of 6.00% in the forecast period of 2022 to 2029 due to the less amount of separation cost in comparison to the emulsions.
- On the basis of form, the market is segmented into powder, granules, flakes, pastilles, micronized waxes and aqueous wax emulsions. In 2022, powder segment is expected to dominate the market and grow at a CAGR of 5.90% in the forecast period of 2022 to 2029. In Asia-Pacific, the applications of powder form of polyethylene wax is in most of the areas because they are so small in size and has large surface to volume ratio which can be of great benefit to industry.
- On the basis of raw material, the market is segmented into ethylene, low-density polyethylene and polypropylene. In 2022, ethylene is expected to dominate the market and will grow at a CAGR of 5.80% in the forecast period of 2022 to 2029 because it helps as a regulator in the growth of plants.
- On the basis of grade, the market is segmented into emulsifiable and non-emulsifiable. In 2020, non-emulsifiable is expected to dominate the market and will grow at a CAGR of 5.70% in the forecast period of 2022 to 2029 since the major application of polyethylene wax is of non-emulsifiable grade such as hot-melt adhesive, masterbatches and lubrications.
The non-emulsifiable segment will dominate the grade segment of the polyethylene wax market
The non-emulsifiable segment will emerge as the dominating segment under grade. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the chemicals and materials industry all around the globe will further bolster the growth of this segment.
- On the basis of production process, the market is segmented into high-pressure polymerization, synthesis by the ziegler-natta method, thermal degradation process of polyethylene, oxidation of synthetic waxes, walter-reppe synthesis, metallocene process and others. In 2022, high-pressure polymerization is expected to dominate the market and will grow at a CAGR of 6.40% in the forecast period of 2022 to 2029 because during the process of polymerization it controls the molecular weight of the polyethylene wax at high pressure which makes the processing very easier and accurate.
The high-pressure polymerization segment will dominate the production process segment of the polyethylene wax market
The high-pressure polymerization segment will emerge as the dominating segment application segment. This is because of the growing adoption of high-pressure polymerization product process especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in market: BASF SE (Germany), ChemPoint (Israel), Clariant (Switzerland), Trecora Resources (U.S.), AVERY DENNISON CORPORATION (U.S.), Marcusoil (U.S.), Mitsui Chemicals, Inc., (Japan), 3M (U.S.), Sika AG (Switzerland), CEM Corporation (U.S.), Honeywell International Inc.,(U.S.), Westlake Corporation (U.S.), Formosa Plastics Corporation (U.S.), Innospec (U.S.), Clariant (Switzerland) and Goyel Chemical Corporation (India).
Market Development
- In 2020, a new generation of the preservation booster Velsan Flex, which protects cosmetics against microorganisms, was introduced by Clariant. The launch of the new product increases sales and broadens the clientele for the business.
- In 2021, The introduction of the first polyethylene wax made from renewable sources was announced by Braskem. The new polyethylene wax exhibits the same traits and functions as the PE version made from fossil fuels. The new solution derived from sugarcane ethanol is recyclable, has a lower carbon footprint, and can be used to different markets. This development is a component of Braskem's "I'm green" bio-based portfolio, showcasing the company's dedication to the circular economy and includes products manufactured from recycled and renewable materials beyond conventional oil-based resins.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in polyethylene wax market during the forecast period 2022 to 2029
Given the widespread use of cosmetics and personal care products in the region as well as the rising demand for polyethylene wax as an ingredient, North America now holds a monopoly on the polyethylene wax industry.
Asia-Pacific is estimated to be the fastest-growing region in polyethylene wax market the forecast period 2022 to 2029
On the other hand, Asia-Pacific is predicted to have profitable growth as a result of the rising demand for organic cosmetics, which are mostly produced there using polyethylene wax. Growth and expansion of the end-user industries in the region is also determining the growth rate.
COVID-19 Impact
The polyethylene wax market suffered due to the recent coronavirus outbreak since the supply chain was hampered by lockdowns and business closures. The COVID-19 outbreak has halted all commercial activity in the polyethylene wax market, but producers are witnessing higher demand from end-use industries including packaging, medicines, food and drink, petroleum, and refining, which is opening up new opportunities. Global manufacturers are gaining from the expansion of coating, printing ink, and plastic processing applications. Market participants are using strategic ways to help them recover losses brought on by the pandemic. Nations hold large market shares like China and India due to their expanding industrialization.
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