SAN FRANCISCO, July 23, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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
Read 76 page research report with TOC on "Oxidized
Polyethylene Wax Market Size, Share & Trends Analysis Report By
Product (HDPE Wax, LDPE Wax), By Application (Hot Melt Adhesives,
Plastics, Coatings), And Segment Forecasts, 2019 - 2025" at:
https://www.grandviewresearch.com/industry-analysis/oxidized-polyethylene-wax-market
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.
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
- Oxidized Polyethylene Wax Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
-
- North America
-
- Europe
-
- Germany
- Italy
- France
- U.K.
- Asia Pacific
-
- China
- Japan
- India
- South Korea
- Central & South
America
-
- Middle East & Africa
Find more research reports on Petrochemicals Industry, by
Grand View Research:
- Phenol Market – Global demand for industrial
phenol is growing at a steady pace in past few years, owing to the
commercial viability and use of its derivatives which are used to
manufacture a wide variety of products.
- Methanol Market – Global methanol
market is expected to witness high growth over the forecast period
owing to its widespread applications in various end use industries
such as plastics, automotive, paints & adhesives, construction
and pharmaceutical.
- Bunker Oil Market – Growing ship
transportation industry is expected drive the global bunker oil
market growth over the next seven years. Bunker oil is emerging as
the primary fuel for marine and shipping industry.
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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.
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Grand View Research, Inc.
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SOURCE Grand View Research, Inc.