Polyethylene wax is among the oldest materials used by humans. Their value as versatile construction materials was discovered very early. Today, polyethylene wax waxes are used mostly as active substances and additives. The use of polyethylene wax is anticipated to increase in the upcoming period because of its normally favorable ecological and toxicological properties. The demand for polyethylene wax will increase with the application in various sectors. Given the versatile applications of the product in various sectors, the demand for polyethylene wax is likely to increase steadily in coming years.
According to Data Bridge Market Research the Polyethylene Wax Market accounted for USD 1.15 billion in 2021, and expected to reach USD 1.69 billion by 2029. The market is expected to grow with a CAGR of 4.90% from 2022 to 2029.
“Increasing demand of polyethylene wax in plastic manufacturing wax is expected to drive the market growth”
Polyethylene wax is extensively used in the manufacturing of plastics because of its superior properties such as anti-sticking properties, and is anticipated to increase rapidly during the forecast period of 2023 to 2030. Plastics have become an important part of our daily life, the increasing demand for plastics from numerous industries such as packaging and automotive is anticipated to propel the market for polyethylene wax. Polyethylene wax provides more lubrication during plastics manufacturing by modifying viscosity or melt point and improving filler dispersion. They increase thermal stability and improve plastic's resistance to heat during plastics manufacturing. Therefore, increasing demand of polyethylene wax in plastic manufacturing wax is expected to drive the market growth”
What restraints the growth of polyethylene wax market?
“High cost of raw materials”
The fluctuating prices of crude oil and petroleum disrupt the supply and demand dynamics of the polyethylene wax market. The volatility in the prices of raw material such as crude oil and petroleum is expected to hamper the growth of the market during the forecast period of 2023 to 2030.
Segmentation: Polyethylene Wax Market
The polyethylene wax market is segmented on the basis of type, process, form, production process and application.
- On the basis of type, the market is segmented into low density polyethylene wax, high density polyethylene wax, oxidized polyethylene wax, micronized polyethylene wax, others.
- On the basis of process, the market is segmented into polymerization type, modified type, thermally cracking type, others.
- On the basis of form, the market is segmented into powder, granules, flakes, pastilles, micronized waxes, and aqueous wax emulsions.
- On the basis of grade, the market is segmented into emulsifiable, non-emulsifiable.
- 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, others.
- Based on application, the polyethylene wax market is segmented into plastic processing, hot-melt adhesive, ink and coating, others.
Regional Insights: North America is expected to dominate the polyethylene wax market
North America is expected to dominate the market and is expected to grow significantly due to the high usage of polyethylene wax in cosmetics and personal care products in this region. Moreover, growing consumption of polyethylene wax as additives in various industries will further boost the growth of the polyethylene wax market in this region.
In addition, the Asia-Pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 due to the growing demand for the organic cosmetics manufactured from the polyethylene wax in this region. Furthermore, increasing expanding end-user industries and technological advancements will positively influence the market growth in this region.
Recent Developments: Polyethylene Wax Market
- In 2021 Braskem, has disclosed the world's first renewably-sourced polyethylene (PE) wax. This substance is generally used as a viscosity adjustment ingredient in adhesives, coatings, cosmetics, and other compounds. The most recent polyethylene wax has similar qualities to the fossil-based PE wax. The latest polyethylene wax, made from sugarcane ethanol which has a lower CO2 impact and can be used in various markets.
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The Prominent Key Players Operating in the Polyethylene Wax Market Include:
- BASF SE (Germany)
- ChemPoint (Israel)
- CLARIANT (Switzerland)
- TRECORA RESOURCES (U.S.)
- AVERY DENNISON CORPORATION (U.S.)
- Marcus Oil (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 (Taiwan)
- Innospec (U.S.)
- Goyel Chemical Corporation (India)
Above are the key players covered in the report, to know about more and exhaustive list polyethylene wax market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Polyethylene Wax Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
