Oxidized Polyethylene Wax Industry Poised to Garner Maximum Revenues During 2019

Posted by Nicky Arora on November 13th, 2019

The global Oxidized Polyethylene Wax Market size is projected to reach USD 446.4 million by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.7% during the forecast period. The growth is majorly driven by rising demand for product in coatings and rubber processing industries.

Asia Pacific is the largest consumer of oxidized Polyethylene (PE) wax with China holding the highest market share. Growth of automotive industry has led to high demand for tire production which is yet another key market driver. However, companies such as Braskem have been successful in the production of bio-ethylene which have the same chemical and physical properties as that of fossil fuel derivatives.

Polyethylene wax and oxidized polyethylene wax are both used in paints and coating applications. The advantage of Oxidized PE wax over its precursor is, it emulsifies more easily in water when added with an emulsifying agent. Moreover, oxidized waxes are typically cationic in nature and chemically more stable. In coating applications, oxidized PE wax is used in temporary protective coatings, wood finishes, textile, glass, leather, fruits, paper, and chlorinated rubber coating.

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Further key findings from the report suggest:

•          High density PE (HDPE) wax is the dominant product owing to its properties such as low viscosity, good hardness and high softening point, and compatibility with various substrates
•          Asia Pacific countries are the largest consumers of ethylene with growing consumption into construction, packaging, and automotive sector. Demand in packaging applications is dominating over others owing to characteristics of the product such as thermal resistance, corrosion resistance and lightweight
•          China is the largest paints and coatings market and is expected to grow irrespective of economic growth. Major automobile manufacturers are also shifting their bases to this country which is further anticipated to have a positive impact on the product consumption
•          Some of the key participants operating in the oxidized polyethylene wax market are Innospec, Clariant International AG, CNPC, BASF SE, Marcus Oil, Lubrizol, and Trecora Chemicals among others