Global polyethylene wax market estimated to surpass valuation of us$ 350 mn by 2027: TRANSPARENCY MARKET RESEARCH

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Global polyethylene wax market estimated to surpass valuation of us$ 350 mn by 2027: TRANSPARENCY MARKET RESEARCH

In terms of value, the global polyethylene wax market was stood around US$ 300 Mn in 2018 and is anticipated to expand at a CAGR of more than to 3.0% from 2019 to 2027

KeyHighlights:

· Interms of value, the global polyethylene waxmarket wasstood around US$300 Mn in 2018 andis anticipated to expand at a CAGR of more than to 3.0% from 2019 to 2027

· Interms of application, plastic additives & lubricants segment held a majorshare of the market in 2018 owingto the wide application of plastics in various end-use industries where plasticadditives such as plasticizers, flame retardants, antioxidants are widely usedin making plastics for various application

· Basedon region, Asia Pacific held major share in 2018 and is expected togrow at significant rate of more than 3% comparedto other region between 2019 and 2027. Presence ofvarious end-user industries such as packaging, rubber, plastics, cosmetics andothers where polyethylene wax are majorly utilized is the major factor whichdrives the demand for polyethylene wax in Asia Pacific

· Marketshare of North America and Europe are projected to exhibit moderate growthduring the forecast period 2019 to 2027. Rise indemand for candles in North America and Europe is the major factor which isexpected to drive the demand for polyethylene wax in these regions

· Increasingmanufacturing of plastic products across all regions followed by rise in usageof packaging owing to increase in global trade between the countries is the majorfactor which is expected to drive the demand for polyethylene wax during theforecast period 2019 to 2027

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Presenceof Substitutes and Volatility of Raw Material Prices May Hamper the OverallDemand for Polyethylene Wax

· Fischer-Tropsch (FT) waxes, alsoknown as gas-to-liquid (GTL) waxes, are an attractive alternative topolyethylene waxes for numerous applications including printing inks, paintsand varnishes, hot melt adhesives, textiles, and polishes. This providessuperior performance in a variety of applications. In addition, FT waxes arevirtually odorless, making them ideal for use in applications requiring theaddition of color or fragrance such as candles, printing inks, packaging,fiberboard, and plastic processing.

· Also, gas-to-liquid (GTL) technologyenables the use of natural gas rather than crude oil to produce alternatives toPolyethylene wax. FT waxes are synthetically produced in a controlled mannerfrom carbon monoxide and hydrogen as feed. Hence, they are consistent in qualityand depict better heat stability

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· Manufacturing operations are boundby regulations and rules with respect to evaluation, registration, storage,usage, handling, and transportation of certain substances and such astheir emissions, effluents, and other wastes. Violation of suchregulations is expected to lead to legal compromise future businessactivities.

· These environmental regulationsrestrain the demand for Polyethylene Wax in packaging and printing industries,as the violation of these government regulations is projected to attract heavypenalties and losses. Most market players are shifting from solvent-basedPolyethylene Wax to water-based Polyethylene Wax

· Furthermore, Ethylene is the key rawmaterial used in the manufacture of polyethylene wax. Prices of ethylene are 96% correlatedto oil prices; hence, any fluctuation in crude oil prices directly impacts theprices of ethylene

· These are the major factors whichmay hamper the overall demand for polyethylene wax during the forecastperiod 2019 to 2027

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AsiaPacific Expected to be Highly Lucrative Region of Global Polyethylene WaxMarket

· In terms of volume and value, AsiaPacific held the largest share of more than 30% of the globalpolyethylene wax market in 2018 across the globe. Risingdemand for polyethylene wax in the polyvinyl chloride (PVC) market coupled withburgeoning coatings industry is driving the growth of polyethylene wax in theregion. This trend is anticipated to continue during the forecast period 2019 to 2027

· Apart from Asia Pacific, Europe isexpected to grow at moderate rate compared to other region. Europe is expectedto grow at CAGR of more than 3.0% between 2019 and 2027.

GlobalPolyethylene Wax Market -Key Developments

· In 2018, researchscientists has proposed the idea of preparation of oil-soluble polyethylene waxparticles temporary plugging agent (OPPTA) using polyethylene wax as main rawmaterial to solve the problem of low strength, low permeability recovery rate,and narrow suitable temperature range of the oil-soluble temporary pluggingagent

GlobalPolyethylene Wax Market: Competition Landscape

· Leading companies operating in theglobal polyethylene wax market include WIWAX, SCG Chemicals Ltd.,Honeywell International Inc., Mitsui Chemicals America Inc., and TheInternational Group Inc. The report segments the global polyethylenewax market as follows:

GlobalPolyethylene Wax Market: Application

· Candles

· Packaging

· Wood & Firelogs

· Plastics Additives &Lubricants

· Rubber

· Polyethylene Wax & Coatings

· Cosmetics

· Other Applications

GlobalPolyethylene Wax Market: Regional Analysis

· North America

o U.S.