Polyethylene Wax Market Analysis

Polyethylene Wax Market Analysis

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 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 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.