Global Oxidized Polyethylene Wax Market
Oxidized polyethylene wax is a product produced from oxidation of polyethylene creating a product that has a significantly low molecular weight. Oxidation of polyethylene wax involves utilization of additional monobasic/polybasic inorganic acids or monobasic/polybasic carboxylic acid providing low melt viscosity waxes with a light color.
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The main factors behind the growth of the market are:
- Growing paints and coatings industry: With the wide-spread growth experienced by the paints and coatings industry, many associated industries have experienced positive impacts on their own individual demands. Oxidized polyethylene wax enhance the levels of hydrophilic systems in paints and coatings making them easier to apply and utilize, provide the products with a matting effect while improving the resistance of products against abrasion and scratches, they also enhance the anti-slip characteristics of the coatings
- Growing end use applications of polyethylene wax: One of the major factors enhancing the demand for this compound is the growing applicational areas. It has been approved for a large range of applications, such as coatings for food products, packaging adhesive, or as cellophane for packaging of foods. This wide range of applications of this product is due to its low amount of carcinogenic content and the lack of negative impact on food products
The market is segmented on the basis of product as high density polyethylene wax, low density polyethylene wax; application as hot melt adhesive, plastics, coatings, printing inks, rubber processing, lubricants, paper industry, others.
Some of the key market developments are as follows:
- In July 2015, European Food Safety Authority of the European Union provided a scientific opinion on the safety of oxidized polyethylene wax for its use as a food additive. The panel identified that the lowest range of product consumption having adverse effects on consumption was at 800 mg/kg bw/day. The panel estimated that the product does not require any safety concerns in the current use of the product
- Paramelt announced that they had acquired Valan Wax Products Ltd. This acquisition will enhance the presence of Paramelt in the U.K. region as well as enhance their capabilities in providing customized solutions for casting industries. The combined capabilities of both enterprises will establish a leader for products supplying for investment casting
“According to Data Bridge Market Research, global oxidized polyethylene wax market is expected to be growing at a substantial CAGR of 10.0% during the forecast period of 2019 to 2026”
Some of the major players operating in the market are Honeywell International Inc., Westlake Chemical Corporation, Baker Hughes, BASF SE, Clariant, Euroceras, MITSUI CHEMICALS AMERICA, INC., Hase Petroleum Wax Co., EC21 Inc., SpecialChem, Palmer Holland, First Source Worldwide, UPICHEM.COM, CALWAX, The International Group Inc., TRECORA RESOURCES, DEUREX AG, WIWAX, Paramelt, Synergy Additives, Brenntag Pte. Ltd. among others.
One of the most fortunate options available with market players/manufacturers of oxidized polyethylene wax is the significant rise in the demands for its associated products. Many end-users and applicable industries are focusing on the adoption of oxidized polyethylene wax based products due to a number of benefits and characteristics that they provide to the products they are added to. They reduce the need for adhesives, enhance the softening point, while maintaining a stable structure and heat stability.
