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Polyethylene Wax Market Size
- Report ID: GMI2206
- Published Date: Mar 2022
- Report Format: PDF
Polyethylene Wax Market Size
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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Polyethylene Wax Market Size in 2021: | USD 947.2 Million |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 3.8% |
| 2028 Value Projection: | USD 1,270.2 Million |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 210 |
| Tables, Charts & Figures: | 326 |
| Segments covered: | Form, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Polyethylene Wax Market Scope
