USD 1.81 Billion
Polyethylene Wax Market Size, Share, Growth Analysis, By Product(High Density Polymerized PE Wax, Low Density Polymerized PE Wax, Oxidized PE Wax, Micronized PE Wax), By Technology(Polymerization, Modification, Thermal Cracking, Micronization), By Application(Candles, Packaging, Woods & Fire Logs, Printing Inks), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2490 |
Region:
Global |
Published Date: February, 2024
Pages:
184
|Tables:
100
|Figures:
76
Polyethylene Wax Market Insights
Global Polyethylene Wax Market size was valued at USD 1.81 Billion in 2021 and is poised to grow from USD 1.89 Billion in 2022 to USD 2.63 Billion by 2030, at a CAGR of 4.2% during the forecast period (2023-2030).
The increased shale gas output in China and North America, together with rising demand from the coatings & printing inks industries, is expected to boost the growth of the global polyethylene wax market during the forecast period. Polyethylene wax (PE wax) is a nontoxic, firm, and white synthetic wax produced by ethylene polymerization. PE waxes are available in pellets, flakes, & powder. The coating, textiles inks for printing, polish, food storage & manufacturing, paint, oil & gas, pharmaceuticals, beauty products, paper and leather sectors are key applications for PE wax.
The key driver projected to enhance product sectors in the United States is the growth of gas from shale deposits. Chevron Phillips Chemical, INEOS, William the business, the Dow Chemical Company, Formosa Plastics, Westlake Chemical, & LyondellBasell are among the regional industry participants that have undertaken growth projects to increase end-use output and consumer base.
The market is characterized by stringent rules imposed by several global bodies. Unlike Europe and North America, which have well-established regulatory frameworks, rising regions such as Asia Pacific are still improving their regulatory structures to ensure sufficient environmental, safety, health, and human rights protection.
REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals), the EPA (Environmental Protection Agency), and the FDA (Food and Drug Administration) have all established tight emission regulations for dangerous automotive emissions. This aspect is expected to enhance polyethylene wax demand in coating application areas.
The needs for polyethylene wax will be boosted further by the usage of high-quality packaging in the food industry. Players in the industry are working on incorporating innovative technologies into their manufacturing processes. Honeywell pioneered innovations in PE wax production & additive development, which is now utilized by many other plastic and chemical producers throughout the world.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Polymerization
Fastest Growth
Polymerization
Growth Rate
4.2% CAGR
Global Polyethylene Wax Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Polyethylene Wax Market Segmental Analysis
The global polyethylene wax market is segmented based on product, technology, application, and region. Based on product, the market is segmented into high density polymerized pe wax, low density polymerized pe wax, oxidized pe wax, micronized pe wax, and others. Based on technology the market is segmented into polymerization, modification, thermal cracking, micronization, and others. Based on application the market is segmented into candles, packaging, woods & fire logs, printing inks, cosmetics, plastic, additives, lubricants, and rubber. Based on region, the global polyethylene wax Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
Oxidized PE wax was the dominant segment, with more than 36% of sales, due to its use in coating, plastic bottles, inks, rubber, shoe, leather goods, lubricants, and masterbatches. The Asia Pacific oxidized market is expected to grow rapidly as a result of rapid industrialization and expanded research and development efforts.
PE wax has gained universal acceptance in the coating industry, and it is increasingly being used in water-based waxed emulsions, non-ionic Emulsions, & PVC processing in a wide range of manufacturing sectors such as textiles, adhesives, glues packaging, vehicles, & paper coating.
The second-largest segment was High Volume Polymerized PE Wax, which is expected to hold a high market share. The most often used PE wax having high density and tensile strength is high density polymerized. They are employed in a variety of applications since they have a high market saturation and are predicted to increase at a steady rate.
Analysis by Technology
Polymerization led the market in 2022, accounting for more than 47% of total revenue. Metallocene, a polymerization process, has recently been employed by manufacturers as an upgraded and better performance answer for the manufacture of HDP and LDP. This is predicted to boost the expansion of polymerization technology in the PE wax market.
Modification technique is utilized in the production of co-polymers, oxidized, acid-modified, and unique monomers. Because of the rapid growth in acid-modified & oxidized demand, technology share is likely to rise throughout the forecast period.
Growing demand for oxidized, unique monomer, acid altered, and co-polymer products influences modification sector demand proportionally. Growth in the application category of acid-modified coatings & oxidized in inks, adhesives, glues and masterbatches is expected to drive market volume over the projection period.
Global Polyethylene Wax Market By Technology (%)
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Polyethylene Wax Market Regional Insights
Asia Pacific made up more than 28.0% of the global polyethylene wax market & is expected to grow at the quickest CAGR during the projected period. Rapid development and abundant polyethylene supplies in China and India have resulted in the expansion of the region's PE wax market. China's well-established polyethylene wax infrastructure, as well as the presence of important companies in the country, boosted Asia Pacific's dominance. Because of India's and Vietnam's significant industrial growth, the area would see increased PE wax demand during the projection period.
The Middle East and Africa are also expected to have a considerable increase in their revenue share due to the current oil and gas infrastructure and cheap product pricing. The substantial demand for natural gas from shale & crude oil from the United States is expected to boost the North American market. Europe is also predicted to experience sustained growth as a result of growth in end-use sectors such as coating, printing inks, & adhesives, as well as severe food regulations imposed by the FDA and REACH.
The United States is a thriving market sector in terms of technology breakthroughs and rising end-user industries. Due to the saturation of the product market, HDP demand is likely to rise at a static rate in the next few years.
Global Polyethylene Wax Market By Geography
- Largest
- Fastest
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Polyethylene Wax Market Dynamics
Drivers
Growth in the Packaging Industry
- The packaging industry is a major consumer of polyethylene wax. With the rise in e-commerce and online shopping, the demand for efficient and sustainable packaging solutions has increased. Polyethylene wax is used to enhance the performance of packaging materials, providing benefits such as increased slip, improved water resistance, and better printability.
Restraints
Volatility in Raw Material Prices
- Polyethylene wax is derived from crude oil or natural gas. Fluctuations in the prices of these raw materials can directly impact the production costs of polyethylene wax. Price volatility poses a challenge for manufacturers and can affect the overall market growth.
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Polyethylene Wax Market Competitive Landscape
GMT is a major producer of PE wax and a global manufacturer of PE wax. Coschem is also involved in manufacturing and selling the company, whereas EPChem International Pte. Ltd. is an international participant involved in the distribution and marketing of PE wax. Huber Group, a global holding company, has unveiled its product line, which comprises printing inks, printing coatings, press chemicals, & services.
Nanotechnology is expected to emerge as a prominent market driver in the coating industry due to its high-end qualities such as UV resistance, wear, abrasion, corrosion, and mar, metal & micro-ceramic nanoparticles will be employed in paints & coating goods.
Top Player’s Company Profiles
- BASF SE
- Clariant AG
- Innospec Inc.
- The Lubrizol Corporation
- Mitsui Chemicals, Inc.
- Trecora Resources
- Honeywell International Inc.
- Euroceras Sp. z o.o.
- SCG Chemicals Co., Ltd.
- Marcus Oil & Chemical
- Synergy Additives
- SCG Performance Chemicals Co., Ltd.
- Westlake Chemical Corporation
- Micro Powders, Inc.
- Kerax Limited
- Lion Specialty Chemicals Co., Ltd.
- Mitsui Chemicals America, Inc.
- Honeywell Additives
- SQI Group
- DEUREX AG
Recent Developments
- In June 2021, Braskem, a Brazilian petrochemical company based in Sao Paulo, announced the world's first renewable-sourced polyethylene (PE) wax. The material is often employed as a viscosity modification component in coatings, beauty products, adhesives, and various other substances. The most modern polyethylene wax possesses similar properties and performs similar to the fossil-based PE wax. The most recent option, generated from sugarcane ethanol, which has a smaller CO2 impact, can be utilized in a variety of industries, and is recyclable.
Polyethylene Wax Key Market Trends
- Increasing demand for bio-based Polyethylene Wax: As sustainability and environmental concerns gain prominence, there is a growing trend towards bio-based polyethylene wax. Manufacturers are exploring renewable feedstocks and developing innovative production processes to offer bio-based alternatives to petroleum-based polyethylene wax. This trend aligns with the broader shift towards eco-friendly and renewable materials in various industries.
- Growing Focus on Product Innovation and Customization: Market players are investing in research and development activities to develop innovative polyethylene wax products with enhanced performance characteristics. Customization of polyethylene wax to meet specific application requirements is gaining importance. This trend is driven by the need for tailored solutions to address the evolving demands of end-use industries.
- Rising Demand from Emerging Economies: Developing countries, particularly in Asia-Pacific and Latin America, are witnessing rapid industrialization and infrastructure development. This fuels the demand for polyethylene wax in various applications such as packaging, construction, and automotive. The expanding consumer base, urbanization, and economic growth in these regions contribute to the increasing market opportunities.
- Shift towards Sustainable Packaging Solutions: With the growing awareness of environmental issues, there is a significant shift towards sustainable packaging solutions. Polyethylene wax is increasingly used in the production of biodegradable and recyclable packaging materials, such as bio-based films and coatings, to improve their functional properties. This trend is driven by consumer preferences, government regulations, and corporate sustainability initiatives.
Polyethylene Wax Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our polyethylene wax market, the packaging industry analysis, with the rise in e-commerce and online shopping, the demand for efficient and sustainable packaging solutions has increased. Polyethylene wax is used to enhance the performance of packaging materials, providing benefits such as increased slip, improved water resistance, and better printability. The increased shale gas output in China and North America, together with rising demand from the coatings & printing inks industries, is expected to boost the market throughout the forecast period. Polyethylene wax (PE wax) is a nontoxic, firm, and white synthetic wax produced by ethylene polymerization. PE waxes are available in pellets, flakes, & powder. The coating, textiles inks for printing, polish, food storage & manufacturing, paint, oil & gas, pharmaceuticals, beauty products, paper and leather sectors are key applications for PE wax.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 1.81 Billion |
| Market size value in 2030 | USD 2.63 Billion |
| Growth Rate | 4.2% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polyethylene Wax Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polyethylene Wax Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polyethylene Wax Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polyethylene Wax Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polyethylene Wax Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polyethylene Wax Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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