According to a report by Grand View Research, Inc.; the global polyethylene (PE) wax market is likely to reach a valuation of USD 2.37 billion by 2022. PE Wax is ultra-low molecular weight polyethylene that contains ethylene monomer chains. Growing demand from printing ink and coating industries can propel the market over the forecast period (2014 to 2022). Stringent emission policies by environmental bodies like the United States Environmental Protection Agency (EPA) are anticipated to increase utilization of the product for solvent borne coatings.
Ethylene is the main raw material used for manufacturing polyethylene wax. Rapid development of shale gas industry has augmented the production level of ethylene, which has decreased the production cost of PE wax. This, along with the declining prices of crude oil is projected to be the major driving factor for the PE wax market. The product can also be widely used in textile and food packaging industries. Technological advancements in the manufacturing process of PE wax for making coating and printing inks is expected to boost the market in near future. The product is also likely to find applications in PVC stabilizers and thermoplastic paints that can be used in road making. However, unpredictable prices of polyethylene are expected to impact the profit margin of the PE wax manufactures.
Full Research Report On PE Wax Market Analysis:
U.S. polyethylene wax market revenue by product, 2012 – 2022 (USD Million)
The worldwide polyethylene (PE) wax market is segmented on the basis of technology, product, application, and region. Based on technology, the market is trifurcated into polymerization, thermal cracking, and modification. As per product, the market is classified into low density polymerized, low density polymerized, high density cracked, oxidized, acid-modified, and others. In 2014, high density polymerized wax was the top product segment with an estimated 40% of overall market share. As per applications, the market is categorized into printing inks, masterbatches, rubber, plastics, adhesives, and others. In 2014, masterbatches dominated the global market with over 20% of total market share in terms of volume.
Geographically, the market divided into Asia-Pacific Central and South America, Europe, North America, and Middle East and Africa. Asia Pacific emerged as the leading market and was estimated for over 35% overall volume share in 2014. This growth can be attributed to growing production in developing countries including China, India, Vietnam and Japan. The region is likely to exhibit the maximum growth of around 8.2% from 2015 to 2022. In addition, increasing growth of various end use industries like packaging, coating, masterbatch, printing ink, and adhesives can also drive the regional polyethylene wax market over the forecast period. Declining prices of crude oil in the region are also anticipated to positively influence various end use industries in the region.
View More Reports Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
North America emerged as the second largest market and is expected to grow at substantial CAGR over the forecast period. The growth can be attributed to rapidly growing shale gas industry in the region. Additionally, strict directives regarding food by the US Food and Drug Administration (FDA) may also boost the polyethylene wax market in the forthcoming years.
Middle East and Africa is likely to witness healthy growth during the forecast period. This growth can be accredited to increasing development of oil and gas industries in the region and availability of raw material in the region. Steady growth of adhesive, masterbatch, printing inks, and other such end use industries can positively affect the regional market. Europe is anticipated also projected to exhibit steady growth during the forecast period.
Leading companies operating in the polyethylene (PE) wax market include Innospec Inc.; Westlake Chemical; Zell Chemie International, OPI Inc.; and Trecora Chemical. Most manufacturers are putting more efforts on research and development (R&D) activities. They are also focusing on developing novel technologies to improve the performance of PE waxes as additives in printing inks and coating applications. Market players are also likely to integrate their processes to maximize revenue channels on account of promising raw material trends.
Recently, DEUREX AG, has developed waxes such as DEUREX E 12 K and DEUREX E O6. These products have low melting point and low molecular weight. They can be used to manufacture hot melt adhesives, thermoplastics, and rubber articles.
Access Full Press Release Of This Report By Grand View Research: https://www.grandviewresearch.com/press-release/global-polyethylene-pe-wax-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
Country: United States