The global polyethylene (PE) market is expected to reach USD 1.47 Billion by 2026, according to a new report by Reports and Data. Polyethylene wax, a homopolymer wax, is an exceptional and commonly used ingredient for end formulations to enhance physical appearance and thermal characteristics of products in a wide range of end-user applications.
Increasing demand from ink coatings applications is estimated to stimulate market demand in the forecast period. Waxes have a significant impact on many processes and formulations. A relatively small quantity of PE wax, often categorized as surface conditioner additives, typically below 3.0% solids content of the total composition of formulations help in improving the effects such as slip and lubrication, anti-blocking, abrasion resistance, matting and water repellency essential for printing ink and coatings.
Increasing demand for PE wax in PVC processing is likely to fuel the market growth in the upcoming years. The use of lubricant is essential for the PVC industry for emphasizing on major factors such as machine melt pressure and energy consumption of equipment. PE wax is a suitable lubricant for being used in industries for PVC processing. The demand for PVC is anticipated to experience massive growth in the upcoming years, which, in turn, is expected to propel the demand for PE wax in the future. Furthermore, the widespread application of the product as a slip agent, dispersant, mold release agent, and resin modifier in the plastic industry is likely to complement market growth.
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Top Players in the Global Polyethylene Wax Market:
Baker Hughes, BASF, Clariant, Mitsui Chemicals, Nanjing Tianshi New Material Technologies Co. Ltd., Hase Petroleum Wax Company, EPChem Petroleum Pte Ltd., Kato Co., Honeywell International Inc., and Innospec Inc.
Further key findings from the report suggest
- By product type, high density polymerized PE wax held the largest market share in 2018 and is expected to reach USD 0.55 Billion by 2026 growing at a rate of 3.2% in the forecast period. It is used widely as one of the major components in many plastic and rubber processing industries. The HDPE Wax has a unique blend of extreme hardness and high drop point paired with an exceptionally low melt viscosity.
- Pellet form of polyethylene wax held a substantial market size in the year 2018.
- By technology, modification is projected to witness the fastest CAGR of 3.9% in the forecast period owing to the increasing demand for acid-modified and oxidized PE wax, requiring the implementation of this technology in the manufacturing process.
- The market in the Asia Pacific region is expected to grow at the fastest rate of 4.3% in the forecast period due to the increasing demand of polyethylene wax in countries like India, China, and Japan in the region.
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Market segmentation based on Product Type Outlook:
- Low-Density Polymerized PE Wax
- High-Density Polymerized PE Wax
- Oxidized PE Wax
- Thermal Cracking
- Ink Coatings
- Plastic Processing
- Hot Melt Adhesive
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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