Polyethylene Wax Market Insights:
The global polyethylene wax market is projected to grow at a significant CAGR over the coming years. Ethylene is a key raw material used for manufacturing PE wax which is in continuous supply in North America. Manufacturing costs have reduced due to the high production of ethylene in the shale gas industries, unlike the other regions which produce ethylene from crude oil.
The continuous decline in global crude oil prices has to lead to significant development in the paint & coating, food packing, cosmetics, and adhesives producing industries. This has created a favorable market in countries such as India, China, and Vietnam. The rising demand for PE wax in printing inks and adhesives is projected to support market growth over the coming years.
In 2016, polymerization was a leading technology and accounted for 50% of the total market share. It is used for high and low density polymerized PE wax. Modification technology is expected to grow significantly on account of the development of specialized and customized wax.
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Polyethylene Wax Market - Technology Insights:
Polymerization directly produces high and low-density PE waxes while other products are produced from technologies such as thermal cracking and modification for end use application. Modification technology is expected to gain prevalence due to the increasing demand for coating, food packaging, textiles, and adhesives.
Polyethylene Wax Market - Product Insights:
The market is segmented on the basis of products into low density polymerized, high density polymerized, oxidized, and acid-modified, and others.
High-density PE is used for making printing inks, paints, coatings, paper, textile, adhesives, and PVC stabilizers. Low-density PE is used in the plastic producing firms for making rigid containers. They are also used in the textile, food packaging, paint, and automotive coatings industries because of their heat stability and high softening point.
Polyethylene Wax Market - Application Insights:
Masterbatch have been in high demand globally due to the huge plastic demand. Significant gains are expected in the forecast period for the printing inks as PE wax have anti blocking, water repellence, and anti settling properties.
In the coming years applications in PVC stabilizers, PVC pipes, plastic masterbatches and road making thermoplastic paints manufacturing is expected to expand. Strict emission policies by environmental bodies such as EPA are expected to increase PE wax usage for solvent borne coatings.
Polyethylene Wax Market - Regional Insights:
Asia-Pacific region dominated the market in 2016 due to high-level production in the emerging economies such as India, China, and Japan t. The region is expected to grow on account of developing end-use industries including packaging, adhesives, coating, printing inks, and cosmetics.
North America is the second largest producer and is expected to grow significantly on account of stern regulations by the FDA along with the development of shale gas. Low feedstock prices coupled with oil & gas infrastructural development in the Middle East & Africa is projected to lead to the high growth over the forecast period. The European market is expected to have a stable growth due to the prevalence of end-use industries such as printing ink, masterbatch, and adhesives.
Polyethylene Wax Market: End-user Landscape:
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase polyethylene wax over the coming years. Some leading consumers of the polyethylene wax industry are Baker Hughes, Clariant, BASF, Mitsui Chemicals, Nanjing Tianshi New Material Technologies Co. Ltd, and Hase Petroleum Wax Co.
Polyethylene Wax Market - Competitor Analysis:
Technological advancements to enhance the performance of PE wax for use in the manufacture of coating and printing inks is projected to grow over the coming years.
The first company to purchase technology from Evonik for manufacturing PE wax was Honeywell. To maximise returns on account of favourable raw material trends, the industrial participants are expected to integrate their operation across the value chain.
The global polyethylene wax market is fragmented on account of huge domestic as well as global players. Key players include Honeywell, Michelman, Merco Wax Company, Marcus Oil & Chemicals Private Ltd, BASF, Zell Chemie International, and Westlake Chemical.
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