Synopsis of Polyethylene Wax Market:
Polyethylene wax is an ultra low molecular weight polyethylene composed of ethylene monomer chains. It is also called as PE wax. The three types of the compound are high-density polyethylene (HDPE) wax, low-density polyethylene (LDPE) wax and oxidized polyethylene wax. Moreover, its thermal stability, bio-compatible, durability, and superior performance are the important trends and factors influencing the market confidently. Therefore, they are used in various applications such as plastic processing, hot melt adhesive, ink & coating, and others.
Among the various segments in polyethylene wax market, oxidized polyethylene wax sub-segment is the leading type used in the market and is anticipated to continue its dominance over the assessment period. It is extensively used in the end-use industries as a slip agent, resin modifier, mold release agent, and others. Moreover, its growing consumption in paints & coatings, and others are set to drive the market in the next couple of years. It is projected that the modification segment is set to grow at a significant rate owing to its boundless use in food packaging, textiles, and adhesives. Polymerization sub-segment is the leading process utilized in the market owing to the endless production of high density and low-density waxes. The market by application is segregated into plastic processing, hot melt adhesive, ink & coating, and others. The ink & coating segment holds a major portion of the market due to increasing popularity of the product in packaging, corrugated, publication, and others. Moreover, the increasing demand for biocompatible, efficient organic compound in plastic processing, hot melt adhesive, and other sectors are projected to drive the market during the forecast period.
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Polyethylene Wax Market Top Key Players Analyzed are:
Honeywell International Inc. (U.S.), Mitsui Chemicals, Inc. (Japan), Clariant (Switzerland), TRECORA RESOURCES (U.S.), BASF SE (Germany), SCG (Thailand), Innospec (U.S.), The Lubrizol Corporation (U.S.), EUROCERAS (Poland), and Westlake Chemical Corporation (U.S.) among others.
Industry/ Innovation/ Related News:
May 02, 2016– TRECORA RESOURCES, leading manufacturer of specialty polyethylene waxes and provider of custom processing services located in Pasadena, Texas acquired the sterols production plant of BASF. Trecora acquired this sterol production plant to expand and diversify its revenue sources, to address new markets and to allow flexible manufacturing. This has enabled significant operating efficiencies and enhanced the value of combined facilities. This acquisition resulted in the purchase of production equipment of BASF which further resulted into broadening capabilities and potential markets for Trecora Resources.
23 February, 2017– ChemSpec Ltd., OH launched Deurex LDPE wax products in the U.S. Market, which are produced by Deurex AG, Germany. The products are named Deurex E 06 and Deurex E12 K and they exhibit low molecular weight, low melting points and have applications in a range of products such as cosmetics and skin care. These products are additives that act as dispersion aids, lubricants, flow promoters, and release agents. Deurex’s technologically advanced manufacturing processes which include the High-Pressure Polymerization of ethylene and the Ziegler-Natta Polymerization Method has enabled the wax production at a very competitive price and has boosted the market growth.
January 12, 2018– Lubrizol Corporation announced to take participation at the American Coatings Show (ACS) to showcase its latest innovations named PowderAdd ™ and Lanco ™ which will be held on April 9-12 in Indianapolis. PowderAdd ™ is a micronized wax technology that enables unique matting and texturing effects for powder coated metal surfaces. Lanco ™ is the technology which delivers matting efficiency while providing high mar and scratch resistance for wood and metal applications. The wax based research and development is likely to augment the market growth in paints & coatings industry. These properties are also expected to drive the product demand in automotive sector.
Polyethylene Wax Industry Segmentation:
The global polyethylene wax market is segmented into the type, process, and application. On the basis of type, the market is segregated into high-density polyethylene (HDPE) wax, low-density polyethylene (LDPE) wax, and oxidized polyethylene wax. The market by the process is sub-divided into polymerization, modification, and thermal cracking segments. The market by application is further categorized into plastic processing, hot-melt adhesive, ink & coating, and others.
Polyethylene Wax Geographical Analysis:
The North American region is growing significantly due to the growing demand for hot melt adhesives in automotive, construction, and other industries. It is predicted that growing investments in the end-use industries is likely to drive the market during the forecast period. The growing consumption of magazines, catalogs, periodicals, directories in end-use applications has propelled the growth in countries such as the U.S., Canada, and Mexico to achieve a stunning growth in the market as they provide unique structural properties, and high standard performance to the product.
The polyethylene wax market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to growing demand for the product in packaging, buildings & construction, woodworking, and others. The oxidized polyethylene wax segment holds the major portion and is anticipated to continue its dominance in the market due to increasing consumption of polyethylene wax in various processes such as polymerization, modification, thermal cracking, and other processes. Therefore, countries such as China, Japan, South Korea, and India are the major players in this market.
The European market has observed a steady growth in the last couple of years. It is projected that due to stringent rules and regulations implemented by the regional governments to use lightweight materials in end-use industries, the market is set to grow at a higher rate during the forecast period.
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LIST OF TABLES:
Table 1 World Population By Major Regions (2017 To 2030)
Table 2 Global Polyethylene Wax Market: By Region, 2017-2023
Table 3 North America Polyethylene Wax Market: By Country, 2017-2023
Table 4 Europe Polyethylene Wax Market: By Country, 2017-2023
Table 5 Asia-Pacific Polyethylene Wax Market: By Country, 2017-2023
Table 6 Middle East & Africa Polyethylene Wax Market: By Country, 2017-2023
Table 7 Latin America Polyethylene Wax Market: By Country, 2017-2023
Table 8 Global Polyethylene Wax By Type Market: By Regions, 2017-2023
Table 9 North America Polyethylene Wax By Type Market: By Country, 2017-2023
Table10 Europe Polyethylene Wax By Type Market: By Country, 2017-2023
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