Polyethylene Wax Market | Current Stats and Future Trends 2020-2030
Expansion of oil & exploration industry, rising demand for high quality raw materials from rubber and plastic processing industry, and increasing investment in optimizing manufacturing processes are the key attributes towards the growth of global polyethylene wax market. Polyethylene wax is a fully saturated polyethylene homopolymer with low molecular weight and high linearity. It is formulated using distillation process and is widely used across rubber and plastics processing industry to enhance the quality of finished products through improvement in process parameters. The polyethylene wax is highly crystalline in nature, exhibits low solubility in solvents, oil thickening capability, and offers hardness at elevated temperatures. These properties of polyethylene wax help in enhancing the quality of different materials such as rubber, petroleum wax blends, and plastic additives. Adoption of high-quality recyclable plastic in food packaging has increased significantly during past couple of years. This has significantly contributed towards the growth of global polyethylene wax market. Expansion of oil & gas and paint & coating production industries across the globe has bolstered the growth of global polyethylene wax market. However, the demand for polyethylene wax is anticipated to be impacted due to the trade, logistics, and manufacturing restrictions imposed across the globe to prevent the spread of COVID-19. The market is expected to exhibit swift recover post the lifting on trade and manufacturing barriers globally. The global polyethylene wax market is expected to grow at a single digit annual growth rate close to 5.0% during the forecast period.
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Asia Pacific contributed the largest share to the global polyethylene wax market in 2019 and is expected to be a dominating segment during the forecast period owing to strong presence of leading polyethylene wax producers across the region. The expansion of plastic processing industry across China, India, Vietnam and Indonesia is anticipated to contributed towards the swift growth of Asia Pacific polyethylene market during the forecast period. North America contributed a prominent share to the global polyethylene market owing to increasing demand for processing of shale gas in the United States. Strong demand from paint, coating, printing inks, and adhesive applications across the European countries is expected to contribute towards the growth of Europe polyethylene wax market in coming years.
Polyethylene Wax Market Share Analysis, by Geography (2019)
The report titled “Polyethylene Wax Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global polyethylene wax market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Baker Hughes accounted for a total revenue of US$ 23.8 billion in 2019. The product segment analysis of the company indicates that Oilfield Services business segment of the company dominated revenue in 2019.
The global polyethylene wax market is segmented on the basis of type, process, applications, and geography. Based on type, the global polyethylene wax market is segmented into high density polymerized polyethylene wax, low density polymerized polyethylene wax, oxidized polyethylene wax, acid-modified polyethylene wax, low-density cracked polyethylene wax, and others. Based on process, the global polyethylene wax market is segmented into polymerization, modification, thermal cracking, and others. Based on applications, the global polyethylene wax market is segmented into ink & coating, hot-melt adhesives, plastic, rubber, and others.Based on geography, the global polyethylene wax market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on polyethylene wax. Further, market share of prominent companies in the global polyethylene wax market would also be estimated. For instance, Baker Hughes operates through four segments namely Oilfield Services, Oilfield Equipment, Turbomachinery & Process Solutions, and Digital Solutions. The polyethylene wax is delivered under Turbomachinery & Process Solutions business segment of the company with revenue contribution of US$ 5.5 billion in 2019.
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