Modified Polypropylene Wax Market: Creating Safer Walkways
- According to National Floor Safety Institute (NFSI), slips and falls are one of the leading reasons for occupational injuries. Slippery work floors can be disastrous and can cause fatal injuries. Increase in demand for anti-slip floor coatings to prevent slip and fall incidents at workplace has been observed across the globe. Modified polypropylene is the additive that imparts anti-slip properties to floor coatings.
- Increase in consumer preference for matt finish for a wide variety of products in industries such as automotive and electronics is anticipated to augment the modified polypropylene wax market across the globe. Furthermore, modified polypropylene wax is used as a mold release agent in precision metal castings due to high melting points.
- Modified polypropylene wax has high dripping and softening points. Furthermore, these waxes possess excellent matting, anti-slip, and soft touch feel which makes them an ideal coating additive for applications on various substrates such as metal, wood, and plastic. Moreover, polypropylene is used as a resin binder in the polymer composites. Increase in demand for these composites across the globe is anticipated to drive the modified polypropylene wax market.
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Increase in Number of Occupational Injuries to Boost Demand for Modified Polypropylene Wax Market
- Modified polypropylene wax imparts anti-slip properties to the floor coatings. Increase in number of occupational injuries across the globe due to slippery work floors is driving demand for anti-slip floor coatings from industries such as chemicals, oil & gas, automotive, and cold storage. This increase, in turn, is anticipated to drive the demand for modified polypropylene wax across the globe.
- Increase in consumer shift toward matt finished electronic products and increase in demand for improved grip in the consumer electronics are anticipated to drive the demand for anti-slip coating for electrical and electronics applications across the globe. Additionally, increased demand for matt finish in premium cars is anticipated to boost the demand for matt finish coatings in the automotive sector, thereby driving the demand for modified polypropylene wax across the globe.
- Increase in use of composites in automobiles across the globe is driving the demand for these composites. This, in turn, is driving the demand for modified polypropylene wax as it is used to manufacture these composites.
Anti-slip and Composite Material Applications to Offer Attractive Opportunities
- Modified polypropylene wax has excellent anti-slip properties. Hence, use of modified polypropylene wax is gaining momentum in industries. Furthermore, modified polypropylene wax is used for domestic floor coatings. Rise in number of co-operative housing societies across developing countries is driving the demand for modified polypropylene wax in the anti-slip applications.
- Rise in urbanization and increase in FDIs in the automotive sector, typically in India, China, and South Korea, are likely to offer significant opportunities to manufacturers of modified polypropylene wax in the near future
- Surge in demand for modified polypropylene wax to use in applications such as composite material manufacturing and mold releasing agent is expected to provide lucrative opportunities to manufacturers operating in the global modified polypropylene wax market in the next few years
Intense Competition from Counterparts to Hamper Market
- Modified polypropylene wax faces intense competition from its counterparts such as modified polyethylene wax in applications wherein high performance is required. The two wax cost almost equal and possess similar chemical and physical properties. This factor is likely to hinder the market during the forecast period.
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Asia Pacific to Lead Global Modified Polypropylene Wax Market
- In terms of region, the global modified polypropylene wax market can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a leading consumer of modified polypropylene wax, followed by Europe and North America. Rise in demand for anti-slip and coatings in the U.S., Canada, and the U.K. is expected to generate high requirement for modified polypropylene wax during the forecast period. Additionally, shift in consumer preference toward matt finish electronic products in developing countries of Asia Pacific, such as China, India, Indonesia, and Vietnam, is expected to offer considerable opportunity to manufacturers of modified polypropylene wax operating in the region during the forecast period.
- Rise in FDIs in the automotive industry in developing countries of Asia Pacific is also likely to fuel the market in the region during the forecast period
- Increase in demand for composites for use in automotive applications, such as automotive is driving the demand for modified polypropylene wax in North America and Europe
- Rise in focus on workplace safety in Latin America and Middle East & Africa is likely to boost the market in both regions during the forecast period
Key Players Operating in Modified Polypropylene Wax Market
The global modified polypropylene wax market is highly fragmented, with top manufacturers accounting for approximately 10% to 15% share of the global market. Key players operating in the global modified polypropylene wax market are:
- Altana AG
- AROMAT Chemical Products
- Clariant Ltd.
- Qingdao Sinoplas Hi-New Material Co., Ltd.
- Micro Powders, Inc.
- Shamrock Chemical Corporation
- ARKEMA INC.
- DEUREX AG
- VIP Coatings Europe GmbH
- Lubrizol Corporation
- Westlake Chemical Corporation
Global Modified Polypropylene Wax Market: Research Scope
Global Modified Polypropylene Wax Market, by Form
Global Modified Polypropylene Wax Market, by Application
- Anti-slip Agent
- Composite Materials
- Mold Release Agent
Global Modified Polypropylene Wax Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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