Increasing Demand in Polyvinyl Chloride (PVC) Production Expected to Boost Polyethylene Wax Market Growth.

Polyethylene (PE) wax is a type of synthetic wax that is manufactured by the polymerization of ethylene. The molecular weight of polyethylene wax ranges between 600 and 10,000. High molecular weight of some types of polyethylene wax enables processing at a higher temperature as compared to paraffin or other synthetic waxes in plastic processing. Properties of polyethylene wax include excellent heat resistance, high hardness, and high thermal stability.

Polyethylene wax is primarily used in candles, plastic additives & lubricants, and adhesives & coatings. In terms of volume, plastic additives & lubricants is expected to be the largest application segment for polyethylene wax during the forecast period. Polyethylene wax is used in the plastic processing industry as a dispersant, slip agent, mold release agent, and resin modifier. It increases flexural modulus and impact strength of the modified resin; therefore, it is used in a variety of applications.

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Rising demand for polyethylene wax in the production of polyvinyl chloride (PVC) coupled with growth in the coatings industry is projected to drive the polyethylene wax market. Polyethylene wax is an indispensable component in PVC production and contributes to the success of PVC not only in process ability, but also in performance and property modification. Polyethylene wax manipulates the properties of PVC such as gloss, fusion, and behavior. Demand for PVC is likely to rise significantly in the emerging economies of Asia Pacific. China and India are anticipated to be the major consumers of PVC in Asia Pacific due to high demand in the building & construction industry. Polyethylene wax is used in the coatings industry as it offers valuable properties that enhance the performance of coatings and coated surfaces at a lower cost. The global coatings market is driven by building & construction, automotive, and other industries. Key factors driving the demand for coatings include rapid industrialization in developing economies, increasing number of stringent regulations and rising competition.

Transparency Market Research, a leading U.S.-based market research firm, has analyzed the polyethylene wax market, which is projected to expand at a CAGR of 2.8% in terms of volume during the period from 2015 to 2023. The study also provides detailed analysis of the polyethylene wax market with the help of various analysis tools such as value chain analysis and Porter’s five forces model.

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In terms of volume, Asia Pacific dominated the polyethylene wax market, accounting for a majority of the market share in 2014. The region was followed by Europe and North America. The global polyethylene wax market is moderately consolidated. Key players operating in the market include BASF SE, Honeywell International Inc., Clariant Corporation, Westlake Chemical Corporation, Mitsui Chemicals America, Inc., The Lubrizol Corporation, and SCG Chemicals.

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