Polyethylene Wax Market Will Achieve 3% CAGR up to 2024
SELBYVILLE, Dela., June 27, 2018 /PRNewswire-iReach/ -- Asia Pacific accounted for more than 30% of overall polyethylene wax market volume. Improving consumer lifestyle dynamics, booming construction sector and escalating automobile sales in China, Japan and India are the chief factors stimulating the regional industry size. North America contributed over 20% of the overall PE wax market share in 2016. Uplifting construction spending along with robust packaging industry in the U.S. are the prime regional growth prospects.
Polyethylene Wax Market size is likely to surpass USD 370 million by 2024. Escalating coatings industry across the globe is a prominent factor propelling the overall (PE) polyethylene wax market by 2024. The overall coatings business generated revenue more than USD 90 billion in 2016 and is likely to mark USD 150 billion, with estimated gains close to 5% CAGR over the estimated period. The product addition on the coating material enhances its properties including heat & chemical resistance, thermal stability, friction coefficient, electrical insulation, rheology and gloss.
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Considering the physical form of the product, powders are estimated to lead the overall market by 2024. They feature better anti-sticking properties in PVC melts, better rub & scratch resistance and high viscosity modification when used as hotmelt adhesives.
In 2016, candles had above 20% of the PE wax market share. The factors such as the increasing product application in candles for improving the gloss and burning rate, the strong demand of candles in India and China for decoration and festival usage will drive the business size by 2024. Packaging applications are projected to observe growth over CAGR 3.5% in the forecast period.
Plastics additives and lubricants was one of the major global PE wax market share contributor in 2016 and is forecast to observe prominent gains in the coming years. Increasing product applications as a slip agent, mold release agent, resin modifier and dispersant in the plastic processing industry will positively boost the overall size during the estimated timeframe. The product has also been used in the plastic applications in order to enhance its impact strength and flexural modulus. Escalating global plastic demand on account of its widespread applications across automotive and electronics industry will substantially boost the overall industry size.
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In 2016, the overall PE wax market was consolidated as the major participants contributed over 50% market share. Some key business contributors are Honeywell International, BASF SE, Clariant AG, Innospec Inc, Westlake Chemical, Arya Chem, WIWAX, SCG Chemicals, Mitsui Chemicals, Synergy Additives, Lubrizol Corporation, Micro Powders and Kerax Limited.
Chapter 2. Executive Summary
2.1. Polyethylene wax industry 360° synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Form by application trends
2.1.3. Application trends
2.1.4. Regional trends
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Chapter 3. Polyethylene Wax Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Increasing product demand in PVC production
3.4.1.2. Robust growth in coatings industry
3.4.1.3. Elevating product demand from printing inks
3.4.2. Industry pitfalls & challenges
3.4.2.1. Unstable raw material price trends
3.4.2.2. Substitute threat from Fischer-Tropsch (FT)
3.5. Regulatory trends
3.5.1. U.S.
3.5.2. Europe
3.5.3. China
3.6. Pricing analysis
3.6.1. Cost structure analysis
3.6.2. Pricing by form
3.6.3. Pricing by region
3.7. Innovation & sustainability
3.8. Growth potential analysis
3.8.1. Patent landscape
3.9. Porter's analysis
3.10. Competitive landscape, 2016
3.10.1. Strategy dashboard
3.11. PESTEL analysis
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