18-Nov-2019: The global oxidized
polyethylene wax market size is projected to reach USD
446.4 million by 2025, according to a new report by Grand View Research, Inc.
It is expected to expand at a CAGR of 9.7% during the forecast period. The
growth is majorly driven by rising demand for product in coatings and rubber
processing industries.
Asia Pacific is the
largest consumer of oxidized Polyethylene (PE) wax with China holding the
highest market share. Growth of automotive industry has led to high demand for
tire production which is yet another key market driver. However, companies such
as Braskem have been successful in the production of bio-ethylene which have
the same chemical and physical properties as that of fossil fuel derivatives.
Growing paints and
coatings industry in Asia Pacific has been showing increased demand for the
product, especially in countries such as China and India. Moreover, continuous
efforts taken by China to develop shale gas will be a decisive factor for the
region to benefit from lower raw material prices.
Polyethylene wax
and oxidized polyethylene wax are both used in paints and coating applications.
The advantage of Oxidized PE wax over its precursor is, it emulsifies more
easily in water when added with an emulsifying agent. Moreover, oxidized waxes
are typically cationic in nature and chemically more stable. In coating
applications, oxidized PE wax is used in temporary protective coatings, wood
finishes, textile, glass, leather, fruits, paper, and chlorinated rubber
coating.
Ethylene is the
major raw material used for manufacturing oxidized polyethylene wax and it
finds high demand in various application segments. Since the past few years,
increasing capacities of petroleum refineries and manufacturers of petroleum
products have been insufficient to meet the parallel increase in product demand
across end-use industries, and hence it has created supply demand gap in the
market.
In
depth research report on Oxidized Polyethylene Wax Market
Further key findings from the report suggest:
·
High density PE (HDPE) wax is the dominant product owing to
its properties such as low viscosity, good hardness and high softening point,
and compatibility with various substrates
·
Asia Pacific countries are the largest consumers of ethylene
with growing consumption into construction, packaging, and automotive sector.
Demand in packaging applications is dominating over others owing to
characteristics of the product such as thermal resistance, corrosion resistance
and lightweight
·
China is the largest paints and coatings market and is
expected to grow irrespective of economic growth. Major automobile
manufacturers are also shifting their bases to this country which is further
anticipated to have a positive impact on the product consumption
·
Some of the key participants operating in the oxidized
polyethylene wax market are Innospec, Clariant International AG, CNPC, BASF SE,
Marcus Oil, Lubrizol, and Trecora Chemicals among others
Grand View
Research, Inc. has segmented the global oxidized polyethylene wax market on the
basis of product, application and region:
Oxidized Polyethylene Wax Product Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
High Density PE Wax
·
Low Density PE Wax
Oxidized Polyethylene Wax Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Hot Melt Adhesive
·
Plastics
·
Coatings
·
Printing Inks
·
Rubber Processing
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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