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 News

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.

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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).

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. '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'

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.

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.

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.

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