Global Polyethylene Wax Market: Snapshot

With the five leading companies accounting for around two-third of the market share, the global polyethylene wax market looks consolidated. A noticeable trend in the market is the strategic alliances and partnerships being forged by savvy companies to bolster their positions.

The global polyethylene wax market is set to soar in the next couple of years owing to their increasing usage in paper and paperboard coatings, the food and beverage industry, and in consumer goods manufacture. The uptake is because of this major unique perceived benefit of polyethylene wax – resistance to moisture and grease. As a result those are used in packaging films to reduce the spread of printing ink into food products.

Another major factor fuelling the global polyethylene wax market is their cost effectiveness. They can also be stored easily and transported. Those can be molded as per requirements. This has led to their widespread usage in various processes and industries.

Posing a challenge to the global polyethylene market, on the other hand, is the emergence of substitutes namely Fisher-Tropsch (FT) wax. Additionally, rebounding crude oil prices is also proving to be a challenge for the global polyethylene market since the product is formulated from oil.

A report by Transparency Market Research on the global polyethylene wax market finds that it would rise at a 3.7% CAGR from 2015 to 2023. At this pace, the market which was valued at US$0.25 bn in 2014, would likely clock a value of US$0.35 bn.

Global Polyethylene Wax Market Propped up by Demand from Candle Industry

The global polyethylene wax market is rising because of the numerous applications of the product. Those include its usage in making candles, packaging products, adhesives and coatings, woods and firelogs, cosmetics, rubber, plastic additives, and lubricants. Polyethylene wax is also used in making printing inks, polishes, and laminates. Among them, the candle making industry at present generates most of the demand in the global polyethylene wax market. Adhesives and coatings also account for significant demand in the market. Besides, the plastic additives and lubricants segments are emerging as lucrative application areas too. In the upcoming years, polyethylene wax will likely see rising usage in making thermoplastic paints for markings on roads, PVC pipes, PVC stabilizers, and plastic masterbatches.

Powered by China, Asia Pacific Polyethylene Wax Market Leads

From a geographical standpoint, the global polyethylene wax market is spread across Asia Pacific, Europe, North America, South America, and the Middle East and Africa. Among these, Asia Pacific has emerged as an attractive market. The region is mainly buoyed by China. The nation with its large population and robust industrialization has seen massive growth in the coating, packaging, printing ink, adhesives, and cosmetics market both with respect to production and sales. The Asia Pacific polyethylene wax market is also being driven by India.

Apart from Asia Pacific, the North America polyethylene wax market is another profitable one. Going forward too, the region’s market is predicted rise at a healthy clip. The rising production of shale oil in the region has served to bring down manufacturing costs. This is because the shale oil has reduced its dependence on expensive oil imports from the Middle East.

Some of the leading companies in the market are WIWAX, The International Group Inc., SCG Chemicals Co., Ltd., Mitsui Chemicals America, Inc., and Honeywell International Inc.

 
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
  • Candles
  • Packaging
  • Wood & Firelogs
  • Plastic Additives & Lubricants
  • Rubber
  • Adhesive & Coatings
  • Cosmetics
  • Others (Including printing inks, laminates, polishes, etc.)
Polyethylene Wax - Regional Analysis
  • North America
    • U.S.
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA
.