Polyethylene Wax Market Research Report: Information by Type (High-Density Polyethylene (HDPE) Wax, Oxidized Polyethylene Wax), by Process (Polymerization, Modification), by Application (Plastic Processing, Hot Melt Adhesive) - Forecast till 2030
ID: MRFR/CnM/3901-HCR | February 2021 | Region: Global | 138 pages
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Polyethylene Wax Market Synopsis
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 Polyethylene Wax 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.
The Polyethylene Wax Market Share by Application:
Product: MRFR analysis
Regional Analysis
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 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 Polyethylene Wax 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 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 Polyethylene Wax Market is set to grow at a higher rate during the forecast period. These rules and regulations drive various applications such as packaging, chemical, oil & gas industries, and others. Moreover, it is estimated that the growing innovation and technological advancement of the products, is predicted to propel the market growth in the countries such as the U.K, Italy, Germany, and France during the forecast period.
The Middle East & Africa region is estimated to witness a significant growth in the Polyethylene Wax Market due to the growing adoption of polyethylene wax in construction, automotive, and packaging industries. Moreover, Latin America is anticipated to witness a higher growth in the market due to increasing demand for polyethylene oxide products in the end-use industries.
Segmental Analysis:
The Polyethylene Wax Market is segmented into the Type, Process, and Application. On the basis of Type, the Polyethylene Wax Market is segregated into high-density polyethylene (HDPE) wax, low-density polyethylene (LDPE) wax, and oxidized polyethylene wax. The Polyethylene Wax Market by the process is sub-divided into polymerization, modification, and thermal cracking segments. The Polyethylene Wax Market by application is further categorized into plastic processing, hot-melt adhesive, ink & coating, and others.
Key Players:
Some of the prominent players operating in the Polyethylene Wax Market 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.
Recent Development
June 2021- Braskem, a Brazilian petrochemical company headquartered in São Paulo, has announced the world’s first renewably-sourced polyethylene (PE) wax. The product used in manufacturing coatings, cosmetics, adhesives, and several compounds is usually used as a viscosity adjusting agent in different formulations.
The latest polyethylene wax has similar characteristics and offers the same performance as the one prepared from fossil-based PE. Obtained from sugarcane ethanol, the latest solution causes a lower CO2 footprint, has applications in numerous market areas and is recyclable.
October 2020 – a private investment company devoted to the specialty materials, chemicals and pharmaceuticals sectors, an affiliate of SK Capital Partners, LP, has finished its earlier disclosed acquisition of the Baker Hughes’s specialty polymers business. Post the acquisition, the business has been rebranded as NuCera Solutions, indicating the company’s past of innovation in the polyethylene wax and specialty polymers markets.
NuCera, with productions in Barnsdall, Oklahoma, is well-known to produce specialty low molecular weight olefin polymers, such as a variety of distinguished functional polymers and finest, high melting point polyethylene waxes. With a history of 85 years, the business is devoted to innovation and has managed to build a solid reputation as a supreme specialty provider and solutions supplier to its vast customer base.
Geographical Analysis:
The Polyethylene Wax Market Report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Intended Audience:
- Polyethylene Wax Market manufacturers
- Traders and Distributors of Polyethylene Wax market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030: Significant value |
| CAGR | (2020-2030): 4.20% CAGR |
| Base Year | 2021 |
| Forecast Period | 2020 to 2030 |
| Historical Data | 2019Â &Â 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Process, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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. |
| Key Market Opportunities | The increasing demand for biocompatible, efficient organic compound in plastic processing, hot melt adhesive, and other sectors are projected to drive the market |
| Key Market Drivers | Its growing consumption in paints & coatings, and others are set to drive the market in the next couple of years. |
Frequently Asked Questions (FAQ) :
Polyethylene Wax market is predicted to grow through forecast period of 2020-2030.
The forecast period for Polyethylene Wax market research report is 2020-2030.
Global Polyethylene Wax market is dominated by APAC region.
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.
