According to the latest report by IMARC Group, titled "Oxidized Polyethylene Wax Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global oxidized polyethylene wax market is expected to grow at a CAGR of 5.1% during 2022-2027. Oxidized polyethylene (PE) wax refers to a compound that is generally used to produce wax emulsions that aid in improving the quality and performance of the desired products. It is mainly prepared by oxidizing polyethylene wax that is widely adopted as coating and lubricant agents. Its quality solely depends on the feature of the raw material and oxidation process parameters. It exhibits stable chemical and good electrical properties and a higher softening point that is similar to high molecular weight polyethylene. As a result, it is extensively utilized as an internal dispersant in the processing of color masterbatch and water-based ink and leather manufacturing.
Global Oxidized Polyethylene Wax Market Trends:
The global market is primarily driven by the widespread product adoption across numerous industry verticals. Along with this, the growing utilization of oxidized polyethylene wax across the textile industry as a softener agent is providing an impetus to the market. Moreover, the rising product uptake for rubber processing as it helps in enhancing the dispersion of filler and facilitates easy demolding is creating a positive market outlook. Since oxidized polyethylene wax aid in minimizing the friction between the molecular chain and polymer during the production of polyvinyl chloride (PVC) pipes, this is significantly supporting its demand on the global level. Additionally, the rising product usage in the formulation of printing inks in order to change the fluidity and reduce their viscosity is contributing to the demand for oxidized polyethylene wax. Furthermore, the growing demand for paper and paperboard and building boards for packaging purposes is propelling the market for oxidized polyethylene wax across the globe. Other factors, including rapid industrialization, continual developments in industrial plants and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.
- On the basis of the product, the market has been segmented into high- and low-density.
- Based on the application, the market has been classified into plastic processing, paints and coatings, textiles, rubber processing, metal processing, adhesives and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include BASF SE, Clariant AG, Deurex Ag, Honeywell International Inc, Industrial Raw Material LLC, Innospec Inc., Mitsui Chemicals Inc, Palmer Holland, The Lubrizol Corporation (Berkshire Hathaway Inc.), Trecora Resources, Westlake Chemical Corporation and Zellag.
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