The Asia & Africa polyethylene (PE) wax market is expected to reach USD 595.1 million by 2025, according to a new report by Grand View Research, Inc. Polyethylene wax is used globally in diversified industries including coating, printing ink, adhesives, food packaging, and masterbatches.
Ethylene emerges as a key raw material used in the manufacture of polyethylene. Unstable crude oil prices and geopolitical issues are affecting raw material trends. The industry will be driven by high supply from Asia Pacific countries including India, China, and Japan coupled with technological innovations.
HDPPE and LDPPE waxes are obtained using polymerization technology. Oxidized, modified, acid-modified are manufactured using modification technology. Low density cracked is produced by thermal cracking of LDPPE wax.
China consists of large number PE manufacturers with flexible prices. Also, government initiatives to develop shale gas reserves by 2020 are also expected to contribute positively towards low cost and high level of ethylene production. The Middle East, on account of well-established oil & gas infrastructure, is also projected to make a significant contribution towards industry growth.
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Further key findings from the report suggest:
The Asia PE wax demand was USD 228.9 million in 2016 and is expected to grow at a CAGR of 10.2% from 2017 to 2025
Growth of printing inks, adhesives, cosmetics, and pharmaceuticals particularly in emerging countries of Asia Pacific and Africa are expected to have a positive impact on growth
High polyethylene supplies from India and China coupled with rapid industrialization have resulted in high demand in the region
Africa is also projected to observe significant gain in its market size on account of oil & gas infrastructure development coupled with lower product prices
The high density polymerized segment accounted for 40.5% of the volume in 2016 and is expected to grow at a high CAGR from 2017 to 2025
High density polymerized PE wax is widely used as a lubricant for plastics processing and in the textile industry.
Petrochemical manufacturers in Asia Pacific have invested in large-scale ethylene plants, and have upgraded and expanded their facilities to cater to large demand arising in the region
Mitsui Chemicals, Inc., Nanjing Tianshi New Material Technologies Co., Ltd., EPChem International Pte Ltd., Sanyo Chemical Industries, Ltd., and SCG Chemicals Co., Ltd. are the prominent leaders in the industry
Grand View Research has segmented the Asia & Africa polyethylene wax market on the basis of technology, product, application, and region:
Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
High Density Polymerized PE Wax
Low Density Polymerized PE Wax
Oxidized PE Wax
Acid-Modified PE Wax
Low Density Cracked PE Wax
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
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