Oxidized Polyethylene Wax Market - What Factors Will Drive the Market in Upcoming Years

As per the report by Grand View Research, Inc., the OxidizedPolyethylene Wax Market is poised to rise to a valuation of USD 446.4 million and is estimated to witness a CAGR of 9.7 % by 2025. Increasing usage of hot melt adhesives in several consumer goods applications such as shoe manufacturing, furniture making, baby diapers, cigarettes, and packaging is anticipated to be one of the foremost drivers in the oxidized polyethylene wax.

High demand for oxidized polyethylene wax in paints and covering applications is anticipated to drive the market demand in the forecast period. Furthermore, oxidized waxes are artificially increasingly unfaltering and cationic in nature. In covering applications type, oxidized polyethylene wax is used in a wood finish, nutshell protective coating, material, glass, regular items, calfskin, chlorinated flexible covering, and paper.

On the other hand, the presence of an alternative, Fischer Tropsch wax, is anticipated to hamper the market growth on account of low consistency and excellent hardness. This factor is projected to limit the growth of the oxidized polyethylene wax in the years to come.

However, cost-effective oxidized polyethylene wax is more efficient as compared to its opponent, which is anticipated to boost its demand in numerous application sectors in the years to come.

The increase in the demand for products of oxidized polyethylene wax from segments such as plastics, printing inks, and rubbers is projected to support the market companies to tap the new opportunities in the market.

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Honeywell acquired technology from Evonik Industries for polyethylene wax manufacture, which comprised of ziegler-natta catalysts, intending to progress polyethylene wax function in coating, paints, adhesives, and printing inks industries. In a recent situation, this technology is used by some plastic and chemical producers globally. The technology also helps in developing PE wax additives to improve its performance.

Geographically, Asia Pacific is one of the leading consumers of the market with China holding the highest market share. Development in the automotive industry on account of high demand for tire production is anticipated to drive the market growth in the forecast period.

On the other hand, companies such as Braskem have been effective in the manufacturing of bio-ethylene which have the same physical and chemical characteristics as that of fossil fuel derivatives.

The key players in the oxidized polyethylene wax market include Zell Chemie International; Munzing Chemie GmbH; Honeywell International Inc.; Trecora Chemical; Merco Wax Company; Baker Hughes, Marcus Oil & Chemicals Private Ltd; and Mitsui Chemicals.

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