Oxidized Polyethylene Wax Industry Overview
The global oxidized polyethylene wax market size is expected to reach USD 1.04 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to expand at a compound annual growth rate of 4.8% over the forecast period. The global market is expected to witness substantial growth over the forecast period owing to the increase in the demand from end-use applications, such as plastics, coatings, hot melt adhesives, rubber processing, and printing. Nontoxic nature, high thermal stability, and excellent dispersion have increased product consumption in the aforementioned segments.
Oxidized Polyethylene Wax Market Segmentation
Grand View Research has segmented the global oxidized polyethylene wax market report on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into high-density and low-density
In terms of volume, the high-density product segment dominated the market with a share of 51.4% in 2020. This high share is attributed to its wide applications owing to its properties, such as color and chemical resistance, low viscosity, good hardness, and high softening point.
HDPE is used as a dispersant in oil paint and printing ink used in printing applications to make printing work look glossy and to improve the surface finish. It is also being used in plastics, rubber processing, and the adhesive industry due to its chemical resistance property.
The product consumption in printing inks is driven by the enhanced physical properties of the final product. The product consumption in the rubber, metal, and plastic processing markets is highly dependent upon the global industrial output.
The slow growth in plastic manufacturing is expected to influence the consumption of waxes in the rubber and plastics industry.
The low-density products are primarily used as a lubricant for plastic processing, as dispersing agents for color masterbatches, surface modifiers in printing inks, and as toners and processing aids in various industries.
Based on the Application Insights, the market is segmented into plastic processing, paints & coatings, printing inks, textiles, rubber processing, metal processing, adhesives, candles, food and others
In terms of volume, the printing ink is estimated to emerge as the fastest-growing application segment registering a CAGR of 4.7% over the forecast period. This high growth is attributed to the growing demand for printing packaging products across the globe.
Polyethylene wax is used as an additive in ink manufacturing to provide anti-slip and anti-scuff properties in the water-based printing process.
In printing applications, solvent-, water-, and oil-based inks are used along with wax in digital printing, offset printing, and flexo printing processes.
The product application in adhesive formulation enhances strength, provides anti-block performance, modifies permanent tack, modifies open & set time, improves adhesion & wetting properties, and more.
The growing number of packagers on account of the increasing reliability of customers worldwide on e-commerce platforms for purchasing various goods is projected to boost the demand for adhesives in the application spectrum, thereby increasing the demand for oxidized PE wax worldwide.
It is majorly used as an emulsion in the paints & coatings sector as it is an excellent water repellent. It also protects paints & coatings against pollution and other destructive elements, such as high humidity, temperature, and more.
Increasing infrastructure renovation activities in the Europe and North America regions coupled with new project developments in the Asia Pacific region are anticipated to present new avenues for infrastructural coatings, which, in turn, will boost the demand for PE wax-based products in the global market.
Oxidized Polyethylene Wax Regional Outlook
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is highly dynamic with the presence of companies that are engaged in strategic mergers & acquisitions, regional expansion, and product developments. Large- as well as small-scale companies, such as Marcus Oil and Trecora Chemicals, are expected to make major inroads with concentrated efforts on improving their product portfolio.
Some prominent players in the global oxidized polyethylene wax market include:
Baerlocher GmbH
The Lubrizol Corp.
SCG Chemicals Co., Ltd.
Marcus Oil
Deurex AG
Munzing Chemie GmbH
Honeywell International Inc.
Order a free sample PDF of the Oxidized Polyethylene Wax Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.