- Polyethylene (PE) wax is a type of synthetic wax that is manufactured by polymerization of ethylene. Molecular weight of polyethylene wax ranges between 600 and 10,000. High molecular weight of few types of polyethylene wax allows for processing at higher processing as compared to paraffin or other synthetic waxes in plastic processing.
- Properties of polyethylene wax include high melting and softening points, high hardness, low viscosity, excellent heat resistance, and thermal stability. Polyethylene waxes can be designed to influence a variety of properties in plastic processing and color masterbatch applications. Addition of polyethylene wax can alter properties such as melt viscosity, abrasion and mar resistance, coefficient of friction, gloss, fusion speed, and melt temperature
- Polyethylene wax is used in candles, packaging, wood & firelogs, plastic additives & lubricants, rubber, adhesives & coatings, and cosmetics among others. These applications together account for majority of the global demand for polyethylene wax. Plastic additives & lubricants and adhesive & coatings are key applications driving the demand for Polyethylene wax. In addition, printing inks application, included in other applications, is significantly boosting the polyethylene wax market.
- Availability of substitutes such as gas-to-liquid (GTL) wax for various applications is expected to hamper the market growth. Furthermore, volatility in raw material prices affects profit margins of polyethylene wax manufacturers. This, in turn, may affect the market growth.
- Increase in production and utilization of plastics to manufacture various products which are highly utilized in end-use industries such as automotive, packaging, medical etc. is the major factor that drives the demand for polyethylene wax
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- On the basis of application, polyethylene wax has been bifurcated into candles, packaging, wood & firelogs, plastic additives & lubricants, rubber, adhesive & coatings, cosmetics, and others. Out of which, plastic additives & lubricants held a major share of more than 20.0% in 2018 and is expected to remain dominant application followed by candles and adhesives & coatings between 2018 and 2027
- Plastic additives & lubricants expected to exhibit significant CAGR between 2019 and 2027. Increase in utilization of plastic based products such as PVC, plasticizers, antioxidants in various end-use application is the major factor which drives the demand for polyethylene wax in plastic additives & lubricants application segment
- Previously, candles were the major application segment for polyethylene wax however, it has overtaken by plastic additives & lubricants. Presence of substitutes for candle manufacturing followed by rise in plastic industry growth is the major factor that surpassed the plastic additives & lubricants segment
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Increasing demand for Polyethylene Wax from end-use industries Makes Asia Pacific Leader
- In terms of geography, the Polyethylene Wax market has been bifurcated into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific held the leading market share of more than 30% in 2018. It is likely to remain dominant region over the forecast period 2019 to 2027
- Developing countries in Asia Pacific such as China and India provide significant growth opportunities for Polyethylene Wax due to a significant number of applications in various industries, such as packaging, automotive, electrical & electronics appliances, medical equipment where plastic additives are majorly utilized to produce plastic based products is the major factor which is anticipated to drive the market in the near future. All these industries have significant growth in near future which makes Asia Pacific highly lucrative market for polyethylene wax during the forecast period 2019 to 2027. Asia Pacific is likely to exhibit CAGR of more than 3.0% between 2019 and 2027
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Global Polyethylene Wax Market: Competition Landscape
- Large number of players available in the market. Majority of the players have strong position in their respective regions.
- Honeywell International Inc.
- Mitsui Chemicals America, Inc.
- The International Group Inc
- SCG Chemicals Co., Ltd.
- Westlake Chemical Corporation
- Clariant AG
- BASF SE.
- A few large market players have established their own strong distribution channels through subsidiaries and joint ventures. For example, BASF SE entered into partnerships with key local players in order to increase its presence in the local market. Large companies typically offer products through supply agreements, distributors, and suppliers.
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