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. H
Download Free Sample Report Increasing Demand from 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
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.
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.
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.
|
Attribute |
Details |
|
Base
Year |
2022 |
|
Historic
Data |
2018 –
2021 |
|
Estimated
Year |
2023 |
|
Forecast
Period |
2024 – 2028 |
|
Quantitative
Units |
Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2022
and 2023-2028 |
|
Report
Coverage |
Revenue
forecast, Volume Forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments
Covered |
Type Process Application |
|
Regional
scope |
North
America; Europe; Asia Pacific; South America; Middle East & Africa |
|
Country
scope |
United States, Canada, Mexico; China, India, Japan, South
Korea, Australia; Germany, France, United Kingdom, Italy, Spain; Brazil, South
Africa, UAE, Saudi Arabia, Turkey, and Egypt. |
|
Key
companies profiled |
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 |
|
Customization
scope |
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope. |
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and purchase options |
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Format |
PDF and Excel through
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format on special request) |
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