Polyethylene Wax Market Size, Share and Industry Analysis Report by Form (Pellets, Powders, Flakes, Emulsion) and Application (Candles, Packaging, Wood & Firelogs, Plastic Additives & Lubricants, Rubber, Adhesive & Coatings, Cosmetics), Regional Outlook,

Polyethylene Wax Market Size, Share and Industry Analysis Report by Form (Pellets, Powders, Flakes, Emulsion) and Application (Candles, Packaging, Wood & Firelogs, Plastic Additives & Lubricants, Rubber, Adhesive & Coatings, Cosmetics), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The global polyethylene wax market share is expected to grow at a significant rate through 2028 due to increasing use of polyethylene wax in the printing ink, cosmetics, adhesive & coatings, candles, wood, and other sectors.

Polyethylene wax is widely utilized in downstream petrochemical industries to improve the qualities of manufactured products. In addition to domestic use, it is also used in storage, extrusion, and PVC injection processes in Southeast Asian countries and Turkey. The different uses and low-cost availability of polyethylene wax have resulted in exponential industrial growth.

The polyethylene wax market has been segmented in terms of form, application, and region. Based on form, the industry has been classified into flakes, powder, pellets, and emulsion. In 2021, the emulsion sub-segment was worth around USD 128 million, and by 2028, it is predicted to be worth more than USD 155 million. Polyethylene wax emulsions are a significant sector of the polyethylene wax market. They are commonly used in coatings and are directly combined with additives in plastic processing.

With respect to application, the polyethylene wax market has been divided into rubber, cosmetics, wood & firelogs, packaging, plastic additives & lubricants, candles, adhesive & coatings, and others. In 2021, the candles sub-segment surpassed USD 30 million in revenue, and by the end of the forecast period, it is predicted to be worth nearly USD 165 million. In 2017, candles accounted for a considerable portion of the worldwide polyethylene wax sector. Polyethylene wax is utilized in candles to add sheen and make votive and molded candles. The addition of polyethylene wax improves the hardness, burn rate, as well as quality of burning of candles.

The wood & firelogs sub-segment is slated to expand at a CAGR of above 4.3% through the projected period. Polyethylene wax is largely utilized in the coatings and composites of wood furniture. It aids in the application of furniture coatings by providing a uniform mat, better slippage, metal marking resistance, as well as improved polishing. In fire logs, polyethylene wax is utilized as both a binder and a fuel.

The rubber sub-segment is likely to grow at a CAGR of approximately 4.0% through the forecast timeframe. In the forthcoming years, the rubber industry would see significant demand from the constantly developing automotive industry. When it comes to tire manufacture, rubber is a crucial component. Rubber production necessitates the use of a variety of chemicals and solvents. PE wax is commonly utilized in rubber processing.

in 2021, the cosmetics sub-segment was worth around USD 20 million, and by 2028, it is predicted to exceed the valuation of USD 30 million. The personal care products sector is enormous. As per the Personal Care Products Council, it produces generates over USD 250 billion in annual retail sales worldwide. It offers everything right from bath products to make-up necessities, including lipsticks, eyeshadow, mascara, face creams, and skin creams, among others.

The other segment is estimated to grow at a CAGR of about 4.2% through 2028. Printing inks, cable filler, thermoplastic & road marking are some of the other applications for polyethylene wax. Printing inks are expected to have a major impact on the demand for polyethylene wax in the upcoming years.

From a regional standpoint, by 2028, the LATAM polyethylene wax market was valued at over USD 127 million in 2021 and is foreseen to be worth more than USD 170 million, up from. Growing investment towards infrastructural development in most Latin American countries is expected to boost demand for polyethylene wax in plastic additives & lubricants.

Meanwhile, the Middle East & Africa polyethylene wax market is slated to grow at approximately 5.0% CAGR through the forecast timeline on account of the region's growing population and disposable income. Rising FDI in the construction and automobile sectors in MEA is also speculated to drive regional market growth in the coming years.