Polyethylene wax is a type of synthetic wax commonly known as PE. It is a high molecular weight polyethylene that is composed of ethylene monomer chains. Polyethylene wax can be manufactured using various techniques such as polymerization of ethylene. It is employed in plastic manufacturing process due to its properties such as formulation flexibility, low melt viscosity, high heat resistance, thermal stability, and regulated molecular weight. Polyethylene wax is used in plastic additives and lubricants, rubber adhesives, candles, and cosmetics. Furthermore, it is used in printing inks application and adhesives and coatings. Thus the increasing product demand is creating profitable opportunities in the global polyethylene wax market.
Plastic is used to manufacture variety of products pharmaceutical, textile, coating, food packaging, cosmetics, and automotive industries. Taking into consideration the increase in end-use applications of polyethylene wax, its demand is expected to grow at a rapid rate. The growing construction sector is expected to drive the polyethylene wax market. Polyethylene wax is used in paints and coating as it offers good amount of water repellency, improves the texture, bears anti settling properties, and provides abrasion resistance. Emulsions created from polyethylene wax improve the texture of fabrics and prevents color change. Hence, polyethylene wax is used in textile sector. The aforementioned factors have contributed in the growth of polyethylene wax market.
Formerly, the major application segment for polyethylene wax was candles but in modern times plastic additives and lubricants have substituted them. Polyethylene wax market is expected to exhibit significant growth due to utilization of plastic-based products in various end-use applications. The competitive scenario of polyethylene wax market is based on major factors such as product demand and the supply chain. Major market players are keen on holding large stake in polyethylene wax market due to promising growth opportunities. The competitors are investing in startups and small ventures to maintain their position in the market. New technologies are being explored by initiating R&D activities to cater to the needs of consumers.
Post time: Feb-17-2022