Global Polyethylene (PE) Wax Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Polyethylene Wax Market Overview

"The Polyethylene Wax Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Waxes are a diverse class of lipophilic organic compounds, malleable solids near ambient temperatures. There are two types of waxes; synthetic and natural. Natural waxes are produced by plants and animals, whereas synthetic waxes are prepared in the laboratory mostly from derivatives of other materials.

Polyethylene (PE) wax is a synthetic wax manufactured by polymerization of ethylene, a derivative of crude oil. Polyethylene wax can be commonly found in a pellet form that is translucent, hard, and transparent white.

Polyethylene waxes can be made in two main grades, emulsifiable and non-emulsifiable, and are differentiated based on their molecular weights. It is mostly non-toxic and is odorless, and is resistant to water and certain types of chemicals.

Rising demand for polyethylene wax from various end use industries especially from the manufacturing industry for production of polyvinyl chloride (PVC) is a major factor driving growth of the global polyethylene wax market. In addition, increasing use of polyethylene wax in the manufacture of coatings and printing inks coupled with PE wax being used to increase melting points of hydrocarbon waxes and its compatibility with petroleum and other waxes are major factors expected to fuel growth of the global polyethylene wax market over the forecast period.

Moreover, increasing shale gas exploration and production activities in developed and developing economies, ensuring continuous supply of ethylene for production of polyethylene wax is another major factor anticipated to aid growth of the global polyethylene wax market to a significant extent.

However, volatile prices of crude oil from which ethylene is derived from which used for production of polyethylene wax is a major factor restraining growth of the global polyethylene wax market. Additionally, availability of substitutes for polyethylene wax and developments in other materials that can be a viable substitute for polyethylene wax by players in the market are other major factors anticipated to hamper growth of the global polyethylene wax market over the forecast period.

Currently, the market in Asia Pacific dominates the global polyethylene wax market in revenue terms owing to high production of polyethylene wax and increasing number of exports by industries in countries in the region. Also, the Asia Pacific market is expected to expand, registering highest CAGR of X.X% over the forecast period due to rapid industrialization and rising demand for polyethylene wax from emerging economies such as China, Japan, and India. The markets in Europe and North America accounted for significant revenue shares in the global polyethylene wax market, owing to increasing demand for polyethylene wax from various end use industries, and high reserves of shale gas and increasing exploration for shale gas reserves.

Global polyethylene wax market segmentation:

By type:

• Low Density Polyethylene Wax
• High Density Polyethylene Wax
• Others

By application:

• Low Density Polyethylene Wax
• High Density Polyethylene Wax
• Cosmetics
• Others

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa