Press release
Polyethylene Wax Market 2018-2024 | key players Honeywell, BASF, Westlake Chemical, SCG, Mitsui Chemicals America, Inc., The Lubrizol Corporation, Kerax Limited, Micro Powders, Inc. and Innospec Inc.
GMI
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In addition, coatings used in textiles, furniture, plastic products, wood products, containerboards, automotive, metals and electronics products are generally blended with the product. Therefore, fervent growth in automotive, electronics and construction industry will subsequently boost industry growth by 2024, as these industries essentially require coatings. Polyethylene Wax Market size is likely to surpass USD 370 million by 2024; according to a new research report by Global Market Insights, Inc.
PE wax market share is positively influence by inclining product applications in PVC manufacturing. It is widely used in the PVC production process to upscale its features such as molding complexity and resistance against chemicals, abrasion & heat. The global PVC manufacturing process will expand at more than 3% CAGR by 2024 for its widespread applications in the construction industry. Furthermore, polyethylene wax market is driven by broad applications printing inks industry. The product is used in printing inks formulation process to upgrade its friction coefficient and gloss. In addition, the global printing inks industry revenue was close to USD 15 billion in 2015 and shall exceed USD 23 billion by 2024, with growth close to 5% in the due course. Therefore, increasing demand of printing inks in commercial applications as newspapers, promotional catalogues and brochures will positively influence the business growth in the near future.
Fischer-tropsch (FT) wax is a product alternative for various applications including printing inks and adhesives owing to its similar features. In addition, major raw material utilized in the industry is ethylene, which is a crude oil derivate. Therefore, the polyethylene wax market price trends follow similar price dynamics. Thus, stiff substitute threat laid by FT along with wavering crude oil price trends may hamper the global industry size in coming years. Considering the physical form of the product, powders are estimated to lead the overall market by 2024. They feature better anti-sticking properties in PVC melts, better rub & scratch resistance and high viscosity modification when used as hotmelt adhesives.
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Plastics additives and lubricants was one of the major global PE wax market share contributor in 2016 and is forecast to observe prominent gains in the coming years. Increasing product applications as a slip agent, mold release agent, resin modifier and dispersant in the plastic processing industry will positively boost the overall size during the estimated timeframe. The product has also been used in the plastic applications in order to enhance its impact strength and flexural modulus. Escalating global plastic demand on account of its widespread applications across automotive and electronics industry will substantially boost the overall industry size.
In 2016, Asia Pacific accounted for more than 30% of overall polyethylene wax market volume. Improving consumer lifestyle dynamics, booming construction sector and escalating automobile sales in China, Japan and India are the chief factors stimulating the regional industry size. North America contributed over 20% of the overall PE wax market share in 2016. Uplifting construction spending along with robust packaging industry in the U.S. are the prime regional growth prospects.
In 2016, the overall PE wax market was consolidated as the major participants contributed over 50% market share. Some key business contributors are Honeywell International, BASF SE, Clariant AG, Innospec Inc, Westlake Chemical, Arya Chem, WIWAX, SCG Chemicals, Mitsui Chemicals, Synergy Additives, Lubrizol Corporation, Micro Powders and Kerax Limited.
Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Polyethylene wax industry 360° synopsis, 2013 – 2024
2.1.1. Polyethylene Wax Market Business trends
2.1.2. Form by application trends
2.1.3. Application trends
2.1.4. Regional trends
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Chapter 3. Polyethylene Wax Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Increasing product demand in PVC production
3.4.1.2. Robust growth in coatings industry
3.4.1.3. Elevating product demand from printing inks
3.4.2. Industry pitfalls & challenges
3.4.2.1. Unstable raw material price trends
3.4.2.2. Substitute threat from Fischer-Tropsch (FT)
3.5. Regulatory trends
3.5.1. U.S.
3.5.2. Europe
3.5.3. China
3.6. Pricing analysis
3.6.1. Cost structure analysis
3.6.2. Pricing by form
3.6.3. Pricing by region
3.7. Innovation & sustainability
3.8. Growth potential analysis
3.8.1. Patent landscape
3.9. Porter’s analysis
3.10. Competitive landscape, 2016
3.10.1. Strategy dashboard
3.11. PESTEL analysis
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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