Global Polyethylene Wax Market: Snapshot
The rapid increase in the shale gas exploration and production activities in North America, primarily in the U.S. and Canada, has significantly incremented the availability of ethylene, the raw material for the manufacturing of polyethylene wax, and provided a strong traction to the market for the same. In addition to that, the demand in the global polyethylene wax market is incrementing as a result of the prosperity of the coating and printing ink industry, although associated environment issues continue to pose challenges for the polyethylene market from attaining its true potential.
As per the estimations of the report, the global polyethylene wag market will expand at a CAGR of 3.7% during the forecast period of 2015 to 2023, reaching a valuation of US$359.1 mn by the end of 2023, up from its evaluated worth of 258.9 mn in 2014. Growing requirement for polyethylene wax in polyvinyl chloride production is another key driver for the polyethylene wax market, wherein the existing vendors will gain new opportunities from the advent of RPPW (recycled pyrolytic cross-linked polyethylene wax), which has shown potential for application in the asphalt industry.
Plastic Additives and Lubricants Segment Flourishing
Application-wise, the global polyethylene wax market is segmented into packaging, candles, wood and firelogs, adhesive and coatings, rubber, cosmetics, plastic additives and lubricants, and others such as laminates, printing inks, and polishes. In 2014, the candles segment accounted for the maximum demand in the global polyethylene wax market, at more than 20%, and is expected to remain a highly profitable application-segment. The same year, adhesive and coatings segment was second most prominent contributor of the demand for polyethylene wax. However, towards the second half of the forecast period, the segment of plastic additives and lubricants is anticipated to prosper as most profitable. In the near future, the polyehylene wax industry is anticipated to increment its application in road marking thermoplastic paints, PVC stabilizer, PVC pipes, plastic masterbatches manufacturing. Strict regulations pertaining to the emission standards by environmental bodies such as EPA is another factor positively reflecting on PE wax market for solvent borne coatings.
China Driving Strong Demand from Asia Pacific
Geographically, the report gauges the potential of the polyethylene wax market in the regions of North America including the U.S., Europe including the U.K., France, and Spain, Asia Pacific including China and Japan, Latin America including Brazil, and the Middle East and Africa. Currently, Asia Pacific is the most lucrative region for the vendors operating in the polyethylene wax market, which accounted for more than 30% of the global demand for polyethylene wax, gaining prominent requirement from China, which is the hub of several end-use industries including packaging, coating, adhesives, printing ink, and cosmetics. From India, the report expects strong demand for masterbatch in the near future. North America is expected to maintain its position as second most profitable region, on account of stringent food regulations by the FDA along with shale gas development.
In the present scenario, the global polyethylene wax market is quite consolidated in nature with top five companies holding more than two-third of the global shares. Some of the key players profiled in this report on the polyethylene wax market are Honeywell International Inc., WIWAX, The International Group Inc., Mitsui Chemicals America, Inc., SCG Chemicals Co., Ltd., Clariant AG, BASF SE, and Westlake Chemical Corporation.
Polyethylene wax, an ethylene polymer, is widely used in various applications as it offers properties such as high melting and softening points, high hardness, low viscosity, excellent heat resistance, and thermal stability. Polyethylene wax is employed in the processing of most plastics that are molded using injection and extrusion molding. It is also utilized in applications such as candles, wood & firelogs, rubber, packaging, and cosmetics.
This report covers the estimate and forecast of the polyethylene wax market on a global, regional, and country level. The report includes an estimation of demand for polyethylene wax in 2014 and forecast for the period from 2015 to 2023 in terms of volume (Tons) and revenue (US$ Mn) for the country, regional, and global markets.
The study provides a decisive view of the polyethylene wax market by segmenting it based on applications and regional demand. Application segments have been analyzed based on current trends and future potential, and the market has been forecast from 2014 to 2023 in terms of volume (Tons) and revenue (US$ Mn). Regional segmentation includes the current and forecast demand for North America, Europe, Rest of Asia Pacific, Latin America, and the Middle East & Africa. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual applications in all countries and regions.
The study analyzes various factors driving the growth of the polyethylene wax market. It also includes restraining factors of the market. A detailed analysis of the impact of these drivers and restraints during the forecast period has been included. Furthermore, the report evaluates opportunities available in the market at the global and regional level. The report includes value chain analysis to provide value addition at each stage and understand the industry thoroughly. Value chain analysis comprises detailed evaluation of the roles of various players involved in the polyethylene wax market, right from raw material suppliers to end-users.
The study also analyzes the market with the help of Porter’s Five Forces model to determine the impact of various factors such as degree of competition, bargaining power of suppliers, threat of substitutes, bargaining power of buyers, and threat of new entrants during the forecast period. Company market share analysis has been included for better understanding of the competitive landscape. Furthermore, the report comprises market attractiveness analysis, which analyzes application segments that are expected to be lucrative during the forecast period based on their market size and growth rate. Attractiveness of the market has been derived from market size, profit margin, growth rate, availability of raw materials, competition, and other factors such as social and legal constraints.
The polyethylene wax market has been segmented based on applications, which include candles, packaging, wood & firelogs, plastic additives & lubricants, rubber, adhesive & coatings, cosmetics, and others. Detailed analysis of all segments in the regional and global markets, and forecast based on current and future trends of the industry in terms of volume (Tons) and revenue (US$ Mn) have been included in the report. Geographically, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Demand for polyethylene wax in various applications in these regions has been analyzed and forecast for a period of eight years.
We use a combination of primary and secondary research to determine the market estimate and forecast. Secondary research sources that were typically referred to include, but were not limited to company websites, independent studies, technical journals, annual reports, trade magazines, financial reports, and SEC filings. Other information sources such as internal and external proprietary databases, government documents, statistical databases and market reports, company’s news articles, industry-specific magazines, and webcasts specific to companies operating in the market have also been referred for the report.
The report also covers profiles of leading companies in the global polyethylene wax market. Companies profiled in the report include Honeywell International Inc., WIWAX, Mitsui Chemicals America, Inc., The International Group Inc., SCG Chemicals Co., Ltd., Westlake Chemical Corporation, Clariant AG, and BASF SE. Various attributes of these companies such as company overview, financial overview, business strategies, recent developments, new product launches, expansion, alliances, and partnerships constitute the company profiles section.
The report segments the global polyethylene wax market as follows:
Polyethylene Wax Market - Application Analysis
- Wood & Firelogs
- Plastic Additives & Lubricants
- Adhesive & Coatings
- Others (Including printing inks, laminates, polishes, etc.)
Polyethylene Wax - Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa