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The Global Polyethylene Wax Market is growing constantly mainly due to the prominence that PE waxes are garnering as an important material predominantly used in coating and adhesive industry. Owning to the superior performance these waxes deliver with some unique properties such as thermal stability, bio-compatibility, and durability, PE waxes are used in various applications such as plastic processing, hot melt adhesives, inks, and coatings. As a result, PE waxes witness huge demand across industries including the burgeoning automotive industry which further drives their market, globally.Acknowledging the glorious period the market is observing currently, Market Research Future (MRFR), in its recently published study report asserts that the global Polyethylene Wax market will accrue exponentially by 2023 registering a phenomenal CAGR from 2017 to 2023.
Key Players:
Some of the eminent leaders of the market include Mitsui Chemicals, Inc. (Japan), Honeywell International Inc. (U.S.), Clariant (Switzerland), BASF SE (Germany), TRECORA RESOURCES (U.S.), SCG (Thailand), The Lubrizol Corporation (U.S.), Innospec (U.S.), Westlake Chemical Corporation (U.S.), and EUROCERAS (Poland).
Industry/Innovation/Related News:
September 24, 2018 – One out of four cosmetic patents released in the month of Sep. 2018 in the US - High gloss gel-based lipstick is a cosmetic compositions for imparting high gloss films to the lips that enhances its glaze and feel.
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It is a gel-based lipstick composition comprising an Ester Terminated Poly Esteramide (ETPEA) polymeric gellant, waxes, oils and a silicone resin. The preferred waxes, in the combination of composition comprise linear polyethylene wax, microcrystalline petroleum wax, and ozokerite. The preferred silicone resin is phenyl propyl polysilsesquioxane resin.
Other three cosmetic patents released are Cosmetic composition comprising silica aerogel particles and silicone oils., Methods for disguising dermatological blemishes., Emulsion containing a dispersion of bismuth oxychloride.
Global Polyethylene Wax Market – Competitive Landscape
The competitive market of polyethylene wax appears to be fragmented due to several large and small key players along with the new entrants forming a competitive landscape. These players try to gain competitive advantage through the strategic partnership, acquisition, expansion, collaboration, and product/technology launch. Large investments are transpired in the R&D to bring novelty in the product and its applications across the industries.
Global Polyethylene Wax Market - Geographical Analysis
The Asia Pacific region leads the global polyethylene wax market with the largest market share. The market is growing with the increasing demand for the product in packaging, buildings & construction, woodworking, and others. Rapidly expanding production capacities in the region impact the market growth positively.
Besides, the increasing industrialization especially in India and China foster the market growth in the region. The APAC region is expected to retain its dominance during the forecast period. Countries such as China, Japan, South Korea, and India account for the key contributors to the market growth owing to the increasing consumption of polyethylene wax in various processes such as polymerization, modification, and thermal cracking, among others.
The North American region is too growing significantly owing to the augmenting demand for hot melt adhesives in automotive, construction, and other industries. Substantial investments in the end-use industries are driving the market growth in the region.
Besides, countries such as the U.S., Canada, and Mexico backed by the growing consumption of catalogs, magazines, periodicals, directories in end-use applications are propelling the growth in the regional market.
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The polyethylene wax market in the European region has observed a steady growth in the last couple of years. Stringent regulations implemented by the regional governments promoting the use of lightweight materials in end-use industries to achieve fuel efficiency are supporting the market to grow at a higher rate during the forecast period. Simultaneously, these regulations drive also drive various applications such as packaging, chemical, oil & gas industries, and others.
Markets in some European countries such as the U.K, Italy, Germany, and France growing with the increasing innovations and technological advancements of the products are expected to support the market growth during the forecast period.
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