The global Oxidized Polyethylene Wax market size is expected to be worth around US$ 2.04 billion by 2030, according to a new report by Vision Research Reports.
The global Oxidized Polyethylene Wax market size was valued at US$ 721.5 million in 2020 and is anticipated to grow at a CAGR of 4.10% during forecast period 2021 to 2030.
The global market is expected to witness substantial growth over the forecast period owing to the increase in the demand from end-use applications, such as plastics, coatings, hot melt adhesives, rubber processing, and printing. Nontoxic nature, high thermal stability, and excellent dispersion have increased product consumption in the aforementioned segments.
It is used in masterbatches in other applications including polymer processing, leather, textile, metalworking industries, and tire manufacturing. The market growth is also driven by rising product demand in the coatings and rubber processing industries. The rising usage of hot melt adhesives in various consumer goods applications, such as furniture making, shoe manufacturing, packaging, baby diapers, and cigarettes, is expected to be one of the major drivers. Moreover, the rise in demand for paperboard & paper and building boards is likely to contribute to the market development.
Ethylene and petrochemical waxes are the main raw materials used in the manufacturing of polyethylene (PE) wax, which is further oxidized to manufacture the product. The major demand for printing ink across the globe arises from printed packaging products, followed by newspaper printing and printed advertisements. Solvent, water, and oil-based inks are used along with wax in digital printing, offset printing, and flexo printing processes. Furthermore, with the high penetration of print manufacturing companies globally, such as DIC India, Toyo Ink, Wikoff Color, and Ruco, the demand is likely to rise over the coming years.
Asia Pacific is one of the largest plastic manufacturing regions globally. The high demand for commodity plastics in the region, such as PVC, PE, and PU, has boosted the application of PE waxes. The demand for products that have applications in the infrastructure and industrial sectors is growing rapidly. The paints and coatings industry is expected to be the major contributor to the regional market growth, owing to the presence of a large number of emerging economies making significant investments in infrastructure development.
In terms of volume, the high-density product segment dominated the market with a share of 51.4% in 2020. This high share is attributed to its wide applications owing to its properties, such as color and chemical resistance, low viscosity, good hardness, and high softening point. HDPE is used as a dispersant in oil paint and used in printing applications to make printing work look glossy and to improve the surface finish. It is also being used in plastics, rubber processing, and the adhesive industry due to its chemical resistance property.
The product consumption in printing inks is driven by the enhanced physical properties of the final product. The product consumption in the rubber, metal, and plastic processing markets is highly dependent upon the global industrial output. The slow growth in plastic manufacturing is expected to influence the consumption of waxes in the rubber and plastics industry.
The low-density products are primarily used as a lubricant for plastic processing, as dispersing agents for color masterbatches, surface modifiers in printing inks, and as toners and processing aids in various industries. The market is driven by rising demand for specialty products and increased emphasis on innovative offerings.
In terms of volume, the printing ink is estimated to emerge as the fastest-growing application segment registering a CAGR of 4.7% over the forecast period. This high growth is attributed to the growing demand for printing packaging products across the globe. Polyethylene wax is used as an additive in ink manufacturing to provide anti-slip and anti-scuff properties in the water-based printing process. In printing applications, solvent-, water-, and oil-based inks are used along with wax in digital printing, offset printing, and flexo printing processes.
The product application in adhesive formulation enhances strength, provides anti-block performance, modifies permanent tack, modifies open & set time, improves adhesion & wetting properties, and more. The growing number of packagers on account of the increasing reliability of customers worldwide on e-commerce platforms for purchasing various goods is projected to boost the demand for adhesives in the application spectrum, thereby increasing the demand for oxidized PE wax worldwide.
It is majorly used as an emulsion in the paints & coatings sector as it is an excellent water repellent. It also protects paints & coatings against pollution and other destructive elements, such as high humidity, temperature, and more. Increasing infrastructure renovation activities in the Europe and North America regions coupled with new project developments in the Asia Pacific region are anticipated to present new avenues for infrastructural coatings, which, in turn, will boost the demand for PE wax-based products in the global market.
The U.S. led the North American regional market with a volumetric share of 24.3% in 2020. North America is potentially a robust market for oxidized polyethylene wax with major demand arising from the growing plastics industry in the region. According to multinationals, such as Chevron, the demand for PE is largely undertaken by formulators of PE resins and the application scope of these compounds are broadening since the past decade. Furthermore, with rising demand for the product from industries, such as plastics, rubbers, and printing inks, the market is projected to show significant growth over the forecast period.
Asia Pacific is poised to reflect steady growth, which is attributed to the rising demand for plastic compounds from packaging material formulators, bottle producers, and automobile component manufacturers. This region is one of the fastest evolving markets, in terms of oxidized PE wax product development, which is due to the increasing product demand from end-use markets.
The Lubrizol Corp.
SCG Chemicals Co., Ltd.
Munzing Chemie GmbH
Honeywell International Inc.
Paints & Coatings
Central & South America
Middle East & Africa
The Oxidized Polyethylene Wax market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Oxidized Polyethylene Wax market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Oxidized Polyethylene Wax market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Oxidized Polyethylene Wax market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Oxidized Polyethylene Wax market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Oxidized Polyethylene Wax capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Oxidized Polyethylene Wax by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Oxidized Polyethylene Wax market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Oxidized Polyethylene Wax market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Oxidized Polyethylene Wax market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Oxidized Polyethylene Wax industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Oxidized Polyethylene Wax market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Oxidized Polyethylene Wax market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Oxidized Polyethylene Wax market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Oxidized Polyethylene Wax market. These factors have benefited the growth of the global market for Oxidized Polyethylene Wax. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Oxidized Polyethylene Wax. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Oxidized Polyethylene Wax are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.