Polyethylene Wax Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (HDPE Wax, LDPE Wax, Oxidized Polyethylene Wax, and Others), By Process (Polymerization, Modification, and Thermal Cracking), By Application (Plastic Processing, Hot-Melt Adhesive, Ink & Coating Industry, and Others) By Region, and Competition

Global Polyethylene Wax Market is projected to grow at an impressive rate through 2028 due to increasing demand from the packaging industry. China's overall production of plastic products amounted to 80 million metric tons in 2021.

Polyethylene wax refers to synthetic wax. It is a high molecular weight polyethylene made from chains of the ethylene monomer. There are various ways to make polyethylene wax, including by polymerizing ethylene. Due to its characteristics, including formulation flexibility, low melt viscosity, strong heat resistance, thermal stability, and a controlled molecular weight, it is applied in the plastic production process. Candles, rubber adhesives, plastic additives, lubricants, and cosmetics employ polyethylene wax. Additionally, it applies coatings, bonds, and printing inks. Consequently, the global polyethylene wax market is experiencing profitable growth due to rising product demand.

Polyethylene (PE) wax is a blend of non-polar polymers used in a variety of industrial applications. It has waxy qualities and contains hydrocarbons with a C20 to C50 or greater molecular weight. PE waxes are significant materials that can be produced in several ways, including low-molecular-weight polyethylene fraction separation from high-molecular-weight polyethylene fractions and direct polymerization of ethylene under specific conditions.

PE waxes are commercially employed in several plastic/polymer processing applications because of their distinctive physicochemical characteristics, such as high crystallinity and linearity, limited solubility in solvents, hardness at high temperatures, and the capacity to thicken oil. Polyethylene (PE) wax is a common addition used to provide lubrication in lubricating oils and coatings. It increases the lubricity and control set/softening point of hot melt adhesives. In many formulations, they act as lubricants and/or as physical modifiers, altering viscosity and/or melting points. They are also employed to alter chemical properties like viscosity, temperature, gloss, and fusion rate.

Analytical techniques such as FTIR, SEM/EDX, XRD, DSC, and TGA have shown that the commercial PE wax samples possessed characteristics that were similar to those of typical commercial PE wax samples used in a variety of industrial applications. Making candles, adding external lubricants to thermoset and thermoplastic extrusions and other polymers, preparing pigment masterbatches, and creating water-repellent hydrophobic surfaces, which are essential to prevent moisture absorption to be able to speed up the degradation process, particularly in the carpet industry, are a few examples.

Manufacturers are now using metallocene, a polymerization process, to produce HDPE and LDPE because it offers enhanced and improved performance. This is anticipated to support the market expansion of polymerization technology for PE wax. Manufacturing of co-polymers, oxidized, acid-modified, and unique monomers uses modification technology. The technological share is anticipated to expand during the projection period because of the rapid demand for acid-modified and oxidized products.

Growing Demand from The Construction Industry

According to the United Nations, the world's population reached 8 billion on November 15, 2022. Hence, there is promising demand in the construction industry to meet the demand for urban and rural homes. The market for polyethylene wax is anticipated to be driven by the expanding construction industry. Because it gives a good level of water repellency, enhances texture, has anti-settling qualities, and offers abrasion resistance, polyethylene wax is used in paints and coatings. Emulsions made from polyethylene wax improve texture and prevent color fading. The printing industry is another significant consumer of polyethylene wax, which it is used as a surface coating material to provide gloss, smoothness, and water resistance to the printed materials. The increasing demand for high-quality printing inks and coatings is driving the growth of the market.

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Increasing Demand from Packaging Industry

The packaging industry is one of the largest consumers of polyethylene wax, as it is used in the production of various types of packaging materials, such as films, bags, and sheets. The growing demand for packaged food and beverages, personal care products, and pharmaceuticals is expected to boost the demand for polyethylene wax in the packaging industry. According to China's National Development and Reform Commission, domestic garment, and knitwear sales for the first 11 months of 2019 were roughly USD 172.4 billion, up about 3% over the same time in 2018. Increased demand for FMCGs, pharmaceutical supplies, and other consumer durables has increased the need for packaging. These factors, together with growing urban populations, are to blame for the increase in packaging requirements. According to the Flexible Packaging Association, more than 60% of the market comprises flexible packaging for food. The demand for flexible packaging is growing swiftly because it has the potential to offer novel solutions to many packaging issues. IBEF further notes that the food processing industry, which accounts for 32% of India's total food market and ranks fifth in production, consumption, and exports, is one of the country's most important industries, with 70% of revenues coming from retail.

Growing Technological Advancement

Due to the rising demand from numerous sectors, several aggressive market players are concentrating on raising polyethylene wax output, assisting in the market's expansion. Market participants compete to maintain an edge over rivals. To investigate cutting-edge methods for manufacturing polyethylene wax, scientists from industrialized nations are expanding their research activities in polymer science. Technological advancements are accelerating the growth of the polyethylene wax market. Market expansion is accelerating across Asia, particularly in China and India. The market is expected to develop due to the surge in demand for affordable polyethylene wax. The automotive industry is also a significant consumer of polyethylene wax, which it is used in the production of coatings and polishes to provide protection and shine to car surfaces. The growing demand for automobiles in emerging economies is expected to boost the demand for polyethylene wax in the automotive industry.

Recent Developments

• In 2018, Clariant, a leading player in the polyethylene wax market, announced the expansion of its production capacity for waxes at its site in China. The expansion was aimed at meeting the growing demand for waxes in the Asia-Pacific region.
• In 2019, China produced approximately 25% of the world's total plastic manufacturing, or 75 million tonnes. Due to its durability and lightweight, plastic is mostly employed in the packaging business. The demand for plastics, which makes up around 30% of all plastics used, is anticipated to rise as the e-commerce business expands. The market for polyethylene wax is anticipated to be driven by the expanding plastics industry.

Product Launch

• In 2019, BASF SE introduced a new product in the polyethylene wax market, called Luwax A. This product is designed to provide excellent slip properties to polymer materials, making it suitable for use in various applications, including films, coatings, and adhesives.
• In 2018, Mitsui Chemicals, a leading player in the polyethylene wax market, launched a new product called Tafmer XM-7070E. This product is a functionalized polyethylene wax that is designed to provide excellent lubrication and slip properties to various polymer materials, making it suitable for use in a wide range of applications, including films, coatings, and adhesives.

Market Segmentation

The global Polyethylene Wax market is segmented by type, process, and application. Based on type, the market is divided into HDPE Wax, LDPE Wax, Oxidized Polyethylene Wax, and Others. Based on the process, the market is segmented into Polymerization, Modification, and Thermal Cracking. Based on application, the market is segmented into Plastic Processing, Hot-Melt Adhesive, Ink & Coating Industry, and Others.

Market players

BASF SE, Innospec Inc, SCG Chemicals Public Company Limited, Mitsui Chemicals, SABIC, LyondellBasell Industries N.V., Trecora Resources, Honeywell International Inc., The Lubrizol Corporation, and Westlake Chemical Corporation are some of the key market players.

Report Scope:

In this report, Global Polyethylene Wax Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Global Polyethylene Wax market, by type:
• HDPE Wax
• LDPE Wax
• Oxidized Polyethylene Wax
• Others
• Global Polyethylene Wax market, by process:
• Polymerization, Modification
•  Thermal Cracking
• Global Polyethylene Wax market, by application:
• Plastic Processing
• Hot-Melt Adhesive
• Ink & Coating Industry
• Others
• Global Polyethylene Wax Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• South America
• Brazil
• Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies in Global Polyethylene Wax Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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