Product ID: SQMIG15E2490
Global Polyethylene Wax Market Size, Share, Growth Analysis, By Product(High Density Polymerized PE Wax, Low Density Polymerized PE Wax), By Technology(Polymerization, Modification), By Application(Candles, Packaging) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2490 |
Region:
Global |
Published Date: February, 2024
Pages:
184
|
Tables:
100 |
Figures:
76
Global Polyethylene Wax Market Insights
Global Polyethylene Wax Market size was valued at USD 1.81 Billion in 2021 and is poised to grow from USD 1.89 Billion in 2022 to USD 2.63 Billion by 2030, at a CAGR of 4.2% during the forecast period (2023-2030).
The increased shale gas output in China and North America, together with rising demand from the coatings & printing inks industries, is expected to boost the growth of the global polyethylene wax market during the forecast period. Polyethylene wax (PE wax) is a nontoxic, firm, and white synthetic wax produced by ethylene polymerization. PE waxes are available in pellets, flakes, & powder. The coating, textiles inks for printing, polish, food storage & manufacturing, paint, oil & gas, pharmaceuticals, beauty products, paper and leather sectors are key applications for PE wax.
The key driver projected to enhance product sectors in the United States is the growth of gas from shale deposits. Chevron Phillips Chemical, INEOS, William the business, the Dow Chemical Company, Formosa Plastics, Westlake Chemical, & LyondellBasell are among the regional industry participants that have undertaken growth projects to increase end-use output and consumer base.
The market is characterized by stringent rules imposed by several global bodies. Unlike Europe and North America, which have well-established regulatory frameworks, rising regions such as Asia Pacific are still improving their regulatory structures to ensure sufficient environmental, safety, health, and human rights protection.
REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals), the EPA (Environmental Protection Agency), and the FDA (Food and Drug Administration) have all established tight emission regulations for dangerous automotive emissions. This aspect is expected to enhance polyethylene wax demand in coating application areas.
The needs for polyethylene wax will be boosted further by the usage of high-quality packaging in the food industry. Players in the industry are working on incorporating innovative technologies into their manufacturing processes. Honeywell pioneered innovations in PE wax production & additive development, which is now utilized by many other plastic and chemical producers throughout the world.
Global Polyethylene Wax Market Report Snapshots
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