Press release
Polyethylene Wax Market Size Assessment and 5.1% CAGR Expansion (2024-2034)
An example is Novaspers C1491, a biodegradable PE wax from Allinova Company, used in printing inks, polishes, and floor maintenance. Another is LPOO@OP by SCG Chemicals Company, a high-density polyethylene wax specifically formulated for road marking paints.
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Key Takeaways from Market Study
The global polyethylene wax market (폴리에틸렌 왁스 시장) is projected to expand at 5.1% CAGR and reach US$ 1.8 billion by 2034-end.
The market created an absolute $ opportunity of US$ 235.9 million from 2019 to 2024.
East Asia is estimated to hold a market share of 37.9% in 2024.
Prominent market players include Innospec Inc., BASF, Mitsui Chemicals America, Inc., Clariant International, and Honeywell International.
Demand for PE wax in the form of flakes/prills is forecasted to increase at a CAGR of 5.5% through 2034. This segment is expected to create an absolute $ opportunity of US$ 157.1 million from 2024 to 2034.
North America and East Asia collectively are projected to create an absolute $ opportunity of US$ 476.7 million from 2024 to 2034.
Market Development
Companies are collaborating with research and development institutions and end users to drive innovation. Partnerships facilitate the exchange of knowledge, resources, and expertise. The rising demand for PE wax encourages manufacturers to expand their businesses.
For instance, in June 2023, BASF established a plant at the Zhanjiang Verbund site in China, to meet the fastest-growing Chinese demand for PE wax. The capacity of the new plant is 500,000 metric tons of PE annually.
Key Players:
Innospec Inc.
BASF
Mitsui Chemicals America, Inc.
Clariant International
Honeywell International
Trecora Resources
EUROCERAS
Westlake Chemical Corporation
The Lubrizol Corporation
Allied Signal
Qingdao Haihao Chemical Co., Ltd.
Prizm Marketing Inc.
Yimei New Material Technology Co., Ltd.
National Organic Chemicals Ltd., (NOCIL)
Indian Petrochemical Corporation Ltd. (IPCL)
Competitive Landscape:
Polyethylene wax manufacturers are ramping up production to meet global demand, while suppliers are expanding their market reach. Companies are collaborating to share technological expertise, and the use of e-commerce platforms is facilitating access to a broader consumer base.
In December 2023, Innospec Inc. acquired QGP Química Geral (QGP), a leading special chemical company in Brazil. This strategic move aimed to expand Innospec's customer base in South America.
In June 2023, BASF established a plant at the Zhanjiang Verbund site in China to cater to the rapidly growing demand for PE wax in the country. The new plant has a capacity of 500,000 metric tons of PE annually.
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Segmentation of Polyethylene Wax Market (Markt für Polyethylenwachs) Research
By Form :
Flakes/Prills
Powder
Paste/Gel
By Production Process :
Polymerization
Thermal Degradation
By Application :
Candles
Plastic & Rubber
Paints & Coatings
Printing Inks
Adhesives
Others
By Region :
North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia & Pacific
Middle East & Africa
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