Ocean View, DE -- (SBWire) -- 05/15/2020 --Global Polyethylene Wax Market report provides in-depth information about Industry overview, top vendors, Key market highlights, drivers, challenges, trends, industry landscape, size and forecast.
Global Polyethylene Wax Market size was estimated at USD 250 million in 2016 and is projected to surpass USD 370 million by the year 2024.
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Aided by the exceptional ability of PE wax to enhance the properties of the finished product, polyethylene wax market has indeed registered a commendable growth rate in the last few years. When applied on various material, particularly plastic, PE wax possesses the capability to improvise on the process parameters of the end product.
It is pivotal to state that the plastic industry has become notably expansive in the last couple of decades and the low molecular weight and wax like properties of polyethylene wax have made it an essential component across this business space. Undeniably, the product's extensive deployment in the plastic sector and the massive growth observed in this sphere is slated to have a major impact on polyethylene wax market trends.
Manufactured from saturated homopolymers, PE wax possesses a high degree of crystallinity and linearity, on the grounds of which the product finds wide application in the processing of rubber and enhancing the quality of plastic additives, petroleum wax and other blends. The product's favorable features such as low solubility in solvents, oil thickness capability and hardness at raised temperatures have also helped increase its deployment across myriad sectors for the processing of diverse products, thus boosting the expanse of polyethylene wax market.
Growth drivers are –
- Increasing product demand in PVC production
- Robust growth in coatings industry
- Elevating product demand from printing inks
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The PVC processing domain has emerged to be a pivotal growth avenue for polyethylene wax market. This trend has primarily come to the fore pertaining to the fact that PE wax, one of the best lubricants ever, is liable to be liberally and conveniently used for the PVC processing method. The best combination and the optimum dosage of lubricants are certain to influence the melt and flow processes of PVC besides affecting parameters like consumption of the processing equipment, productivity, melt pressure in the machine, spreading of fillers and pigments, and the gelation of PVC. Polyethylene wax is thus widely recognized as the most efficient external lubricant in the PVC industry. In consequence, it would be imperative to state that with the expansive growth of the PVC sector, polyethylene wax industry has also experienced a commendable growth.
Of late, many pivotal firms partaking in polyethylene wax market have been attempting to develop and commercially manufacture a wide range of high quality PE wax products. The shifting trends toward innovation thus, will play a major role in propelling polyethylene wax market share. With its widespread application spectrum and the prevalence of numerous research programs, polyethylene wax industry size is estimated to surpass $370 million over 2017-2024.
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