Rockville , March 26, 2024 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global polyethylene wax market has been analyzed to expand at a CAGR of 5.1% during the forecast period of (2024 to 2034) after having reached a size of US$ 1.1 billion in 2024.
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| Report Attribute | Details |
| Value Projection (2034) | US$ 1.8 Billion |
| Growth Rate (2024-2034) | 5.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 128 Tables |
| No. of Figures | 108 Figures |
Sustainable growth is a priority for companies, and polyethylene wax manufacturers adopting biodegradable formulations. Eco-friendly wax finds application in industries trying to reduce their carbon footprints.
• Novaspers C1491 is a biodegradable PE wax produced by Allinova Company. It is applicable for printing inks, polishes, and floor maintenance purposes.
PE wax is also used in road marking paints.
• LPOO@OP is a high-density polyethylene wax specially formulated for road marking by SCG Chemicals Company.
Related Market Projections for 2034
| Hydrocarbon Wax Market | US$ 5.5 Billion |
| Microcrystalline Wax Market | US$ 2 Billion |
| Industrial Wax Market | US$ 8.5 Billion |
| PVC Emulsion Market | US$ 5.3 Billion |
Key Takeaways from Market Study
- The global polyethylene wax market is projected to expand at 5.1% CAGR and reach US$ 1.8 billion by 2034-end.
- The market created an absolute $ opportunity of US$ 235.9 million from 2019 to 2024.
- East Asia is estimated to hold a market share of 37.9% in 2024.
- Prominent market players include Innospec Inc., BASF, Mitsui Chemicals America, Inc., Clariant International, and Honeywell International.
- Demand for PE wax in the form of flakes/prills is forecasted to increase at a CAGR of 5.5% through 2034. This segment is expected to create an absolute $ opportunity of US$ 157.1 million from 2024 to 2034.
- North America and East Asia collectively are projected to create an absolute $ opportunity of US$ 476.7 million from 2024 to 2034.
“Adoption of biodegradable polyethylene wax can be a sustainable way of reducing carbon footprint. The polyethylene wax market is driven by its pivotal role in adhesive innovation, sustainable development initiatives, and the expanding online marketplace,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Innospec Inc.
- BASF
- Mitsui Chemicals America, Inc.
- Clariant International
- Honeywell International
- Trecora Resources
- EUROCERAS
- Westlake Chemical Corporation
- The Lubrizol Corporation
- Allied Signal
- Qingdao Haihao Chemical Co., Ltd.
- Prizm Marketing Inc.
- Yimei New Material Technology Co., Ltd.
- National Organic Chemicals Ltd., (NOCIL)
- Indian Petrochemical Corporation Ltd. (IPCL)
- Other Prominent Players
Market Development
Companies are collaborating with research and development institutions and end users to drive innovation. Partnerships facilitate the exchange of knowledge, resources, and expertise. The rising demand for PE wax encourages manufacturers to expand their businesses.
• For instance, in June 2023, BASF established a plant at the Zhanjiang Verbund site in China, to meet the fastest-growing Chinese demand for PE wax. The capacity of the new plant is 500,000 metric tons of PE annually.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global polyethylene wax market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on form (flakes/prills, powder, paste/gel), production process (polymerization, thermal degradation), and application (candles, plastic & rubber, paints & coatings, printing inks, adhesives, others), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, and the Middle East & Africa).
Explore More Related Studies Published by Fact.MR Research:
Industrial Wax Market: The global industrial wax market value is expected to reach US$ 12,854 million by the end of 2034.
Hydrocarbon Waxes Market: The global hydrocarbon waxes market is set to reach a valuation of US$ 3.9 billion in 2023 and it is expected to grow at a CAGR of 3.0% to reach US$ 5.3 billion by the end of 2033.
Textile Dyes Market: The global textiles dyes market was valued at US$ 6.7 billion in 2022 and would expand to reach US$ 8.9 billion by 2033, growing at a CAGR of 6.0% during 2023-2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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