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Polyethylene Wax Market Size, Share and Industry Analysis Report by Form (Pellets, Powders, Flakes, Emulsion) and Application (Candles, Packaging, Wood & Firelogs, Plastic Additives & Lubricants, Rubber, Adhesive & Coatings, Cosmetics), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI2206
  • Base Year: 2021
  • Report Format: PDF

Industry Overview

Polyethylene Wax Market size about USD 947.2 million in 2021 and is expected to show considerable growth at a CAGR of 4.4% from 2022 to 2028 owing to the growing demand for polyethylene wax in cosmetic-based products. The industry size may cross 659.9 Kilo Tons by 2028 in terms of volume, along with an anticipated CAGR of 3.8% over the projected period.
 

polyethylene wax market outlook

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Growth in the construction and automobile industries will ultimately propel PE wax demand over the forecast period owing to increasing product application in plastic manufacturing, PVC synthesis, and hot melt adhesives formulations. Furthermore, the polyethylene wax market is driven by broad applications in the printing ink industry. The product is used in the ink formulation process to upgrade its friction coefficient and gloss.
 

In addition, the global printing ink industry is expected to grow significantly on account of increasing demand from various end-user segments such as packaging, commercial publication, textiles, etc. Therefore, the increasing demand for printing inks in commercial applications such as newspapers, promotional catalogs, and brochures will positively influence the polyethylene wax market share in the near future.
 

The rapidly growing e-commerce industry and increasing consumer spending have given rise to sophisticated & premium packaging formats. These new packaging formats need wax as their key component. However, the main obstacle that may restrain the wax market size is volatility in raw material prices. Oscillating crude oil and petroleum prices disturb the demand & supply dynamics of the polyethylene wax market.
 

Ethylene is the key raw material used in the manufacturing of polyethylene wax. Ethylene prices are primarily correlated to oil prices; hence, any fluctuation in crude oil prices directly impacts ethylene prices. The market has witnessed volatility in polyethylene wax prices on account of rising oil and natural gas prices. Since raw material prices are on the rise, continued volatility in product prices is a restraint as it limits consumer spending and prompts customers to defer spending. However, increasing applications and growing production of polyethylene wax are expected to have a positive impact on the market growth.
 

The powder segment will dominate the market share

polyethylene wax market by form

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The powder polyethylene wax segment was valued at over USD 515 million in 2021 and is expected to grow at over USD 710 million by 2028 on account of growth in the cosmetics industry in Europe and Asia Pacific. The massive share can be attributed to product usage in various kinds of applications. This form of PE wax is used in the rubber industry as a wire sheath additive and is an important ingredient in cosmetic formulations. Other prominent uses include use in PVC production and holt melt adhesives.
 

The plastic additives & lubricants segment will foster the business growth

polyethylene wax market by application

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The plastic additives & lubricants segment was valued at over USD 174 million in 2021 and is anticipated to reach USD 245 million by 2028. Over the last few years, plastic production has dramatically increased due to its cost-efficient and easy handling along with durable and lightweight. Moreover, the utilization of plastics in various industries is further expected to increase the production of plastic products globally.
 

Polyethylene wax is primarily used as a lubricant in PVC processing and also as a dispersing agent in the masterbatch process. It is utilized in the plastics processing industry for its beneficial properties such as mold release agent, dispersant, resin modifier, slip agent, etc. The increasing production of plastics will have a positive impact on the polyethylene wax market revenue during the projected period.

 

Asia Pacific will lead the polyethylene wax market share

polyethylene wax market by region

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Asia Pacific polyethylene wax market was valued at over USD 305 million in 2021 and is anticipated to reach USD 435 million by the end of 2028 due to the presence of various end-user industries. As the demand for PVC is likely to rise substantially in Asia Pacific.
 

China and India will be major consumers of PVC in Asia Pacific due to high demand from the building & construction industry. Rising PVC applications in the automobile sector coupled with rising infrastructure spending will boost the demand for additives such as polyethylene wax. Asia Pacific is also a hub for adhesive & coatings production. Demand for polyethylene wax in adhesive & coatings will increase in the region due to its myriad advantages.
 

The growing automobile and construction industries, especially in India, Japan, China, Indonesia, and Malaysia, will drive the paints & coatings market over the next few years. The Indian paints industry is valued at over USD 8 billion in 2021 and is expected to witness significant growth over the coming years due to increased demand from various end-user industries such as automotive, construction, packaging, etc. It is poised to witness substantial gains in the coming years, which in turn, will propel the polyethylene wax market over the forecast period.
 

Mergers & acquisitions along with increasing R&D activities to drive industry growth

The polyethylene wax market players are primarily focused on developing their strategic partnerships to capture new markets and drive their revenue generation. The industry participants that are associated with the polyethylene wax market are working on upgrading their research & development activities, expanding their production capabilities, and diversifying their product portfolios to stimulate revenue generation.

 

Various industry players associated with the polyethylene wax industry are WIWAX, Honeywell International Inc., Kerax Limited, BASF, Clariant AG, Micro Powders, Westlake Chemical Corporation, SCG Chemicals, Synergy Additives, Mitsui Chemicals America, The Lubrizol Corporation, The International Group, Inc., Innospec Inc., and Arya Chem Inc, Savita, etc.
 

The polyethylene wax industry report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2022 to 2028 for the following segments:

By Form

  • Flakes
  • Powder
  • Pellets
  • Emulsion

By Application

  • Candles
  • Packaging
  • Wood & firelogs
  • Plastic additives & lubricants
  • Rubber
  • Adhesive & coatings
  • Cosmetics
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
       
Authors: Kiran Pulidindi, Hiral Patel

Frequently Asked Questions (FAQ) :

The global polyethylene wax industry is slated to exceed USD 1 billion by 2028 and is poised to record a CAGR of 4.4% from 2022 to 2028 driven by rising adoption in cosmetic-based products.

Polyethylene wax is used for plastic manufacturing, PVC synthesis, and hot melt adhesives formulations.

Demand for powder polyethylene wax had reached more than USD 515 million in 2021 and is anticipated to generate a revenue of over USD 710 million by 2028 owing to the fast-expanding cosmetics sector in Europe and Asia Pacific.

The polyethylene wax market size in Asia Pacific exceeded USD 305 million in 2021 and will account for close to USD 435 million by 2028 led by the robust presence of various end-user industries in the region.

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Premium Report Details

  • Published Date: Mar 2022
  • Companies covered: 15
  • Tables & Figures: 326
  • Countries covered: 17
  • Pages: 210

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