Polyethylene Wax Market Size, Share & Trends Analysis Report By Product (Urea-Formaldehyde, Soy-based), By Application (Candles, Packaging), By Substrate, By Technology, By Region, And Segment Forecasts, 2023 - 2030

Polyethylene Wax Market Size, Share & Trends Analysis Report By Product (Urea-Formaldehyde, Soy-based), By Application (Candles, Packaging), By Substrate, By Technology, By Region, And Segment Forecasts, 2023 - 2030

Polyethylene Wax Market Growth & Trends

The global polyethylene wax market size is expected to reach USD 2.63 billion by 2030, according to a new report by Grand View Research, Inc.It is anticipated to grow a CAGR of 4.2% during the forecast period. Polyethylene waxes are synthetic wax type, which is widely used in diversified industries like printing inks, adhesives, masterbatches, plastics, rubber, cosmetics, food packaging, textile, coating, candles and paper production.

Traditionally, Asia Pacific has been the largest polyethylene (PE) wax producer in the world owing to development of end-user industries in China, Vietnam, Japan, and India. China’s well-established polyethylene wax infrastructure coupled with the dominance of the major players will fuel the regional market share over the projected period.

Furthermore, growing initiatives by industry players and regional governments to develop shale gas reserves by 2020 will contribute positively towards affordable ethylene production. Middle East, on account of prevailing strong oil and gas infrastructure is also estimated to experience significant market expansion.

The industry is highly competitive in terms of product variation and pricing. The major industry participants are favored by their well-established consumer base and global footprint in the market. The players are witnessing growing demand from coating, textile, printing inks, polish, food packaging & processing, paints, oil & gas, cosmetics, pharmaceuticals, paper, and leather industries.

The market growth can be attributed to the widespread applications of PE wax. It is used as a lubricant in PVC processing and as a dispersing agent in masterbatch application. HDPPE and LDPPE are produced using polymerization technology. Modification technology is used to manufacture Oxidized, modified, acid-modified products.

Polyethylene Wax Market Report Highlights

• Asia Pacific is expected to grow at a highest CAGR during the projected period, owing to China’s well-established PE wax infrastructure and high concentration of key players
• The Asia Pacific market is driven by low labor costs, while high higher utility costs such as fuel and power costs may pose to be a challenge during the projected period
• Shale gas boom has increased chemical product exports in North America resulting into polyethylene growth on account of smooth raw material supplies, increasing pipeline transportation, developing shale technology research, and reforming natural gas pricing
• Industry participants are focused on achieving optimum business growth by mergers & acquisition, product differentiation, R&D activities, etc.
• Increasing demand from end-use industries such as lubricants, plastic & rubber, and paint & coatings among others is likely to drive the market growth over the forecast period.

Please note The report will be delivered in 3-8 business days upon order notification.