Growing Demand for Polyethylene Wax to Significantly Increase Revenues Through 2028
Added: (Thu Feb 28 2019)
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Global Polyethylene Wax Market: Definition and Introduction
Waxes are a solid material that melts and converts into a liquid state at a slightly higher temperature. Basically, waxes are divided into two type i.e. natural waxes and synthetic waxes. Synthetic waxes have numerous types, polyethylene wax is one of them. Polyethylene (PE) wax is also identified as polyethylene homopolymer wax. In term of chemical properties, polyethylene wax has excellent color, lubrication rate, and thermal stability. These properties of the polyethylene wax are dependent on the production process of polyethylene wax. It has been manufactured by three major processes such as polymerization, thermal degradation, and synthesis from monomer. Primary applications of polyethylene wax are as a releasing agent, shining agent, lubricant, dispersant, binding agent, among others. Ease of modification and superior physiochemical properties of polyethylene wax leads to a wide range of applications in end-user industries such as rubber, chemical industry.
Global Polyethylene Wax Market Dynamics
Global developments in the past couple of years have highlighted the key trends in the industrial sector, which impact on global polyethylene market. World’s leading economies are growing due to impressive contribution from the industries such as the electronics industry, packaging industry, crude oil industry, plastic and rubber industry, e-commerce and many more. Application of polyethylene wax remains indispensable in these industries due to which its supply and production will rise rapidly in the next ten years. Rapidly growing expansion of middle-class worldwide has invited many unique trends which previously were limited to a specific population. There is a surge of trends like home décor, presenting innovative gifts, celebrations, and tourism. Use of candles has become a center of attraction for these applications. In turn, the global polyethylene wax market is estimated to be the lucrative market by the end of forecast period.
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Rising demand for plastic and rubber industry as well as paints & coatings has been contributing to the significant growth of the polyethylene wax market. This has been proving to be an important driver, especially in the developed economies such as North America and Western European regions. Besides, increased global wax market has been demanding polyethylene wax as a modifier to improve the melting point, as a result, is expected to be a microeconomic factor for polyethylene wax market throughout the forecast period.
Global Polyethylene Wax Market Segmentation
Polyethylene wax market is segmented on the basis of applications, production process, product form, and regions. Global polyethylene wax market can be segmented on the basis of applications as mentioned below:
Inks & coatings
Plastic processing
Hot melt adhesives
Rubber
Others
Global polyethylene wax market can be segmented on the basis of the production process as mentioned below:
Polymerization
Thermal degradation
Synthesis from monomer
Global polyethylene wax market can be segmented on the basis of product grade as mentioned below:
HDPE (High-density Polyethylene)
LDPE (Low-density polyethylene)
Oxidized
Acid-modified
Monomer modified
Global Polyethylene Wax Market: Regional outlook
On the basis of geography, global polyethylene wax market can be segmented into seven key regions. According to The National Candle Association (NCA), US represent a massive demand for candles including candle accessories by U.S households. Thus, in turn, North America estimated to be a significant platform for the polyethylene wax market. Further, the plastic industry in Europe also accounts for one of the most lucrative industries in the world with respect to production, has been a positive impact on the global polyethylene wax market over the forecast period. Moreover, emerging market such as South East Asia Pacific and China invested in the new expansion, which contribute to the SEA polyethylene wax market over the forecast period.
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Global Polyethylene Wax Market: Key Players
The global polyethylene wax market expected to be fragmented throughout the forecast period. Some of the market participants identified across the value chain of global polyethylene Wax market include: Yi Mei New Material Tech Co., Ltd., M.L.A. industries MITSUI CHEMICALS AMERICA, INC., Honeywell International, Clariant International, Trecora Resources, BASF SE, EUROCERAS, Innospec, Westlake Chemical Corporation, The Lubrizol Corporation and among others.