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DUBLIN , Jan. 30, 2023 /PRNewswire/ -- The "Polyethylene Wax Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (HDPE Wax, LDPE Wax, Oxidized Polyethylene Wax, and Others), By Process, By Application, By Region, and Competition" report has been added to ResearchAndMarkets.com's offering. Polyethylene Homopolymer Wax
Global Polyethylene Wax Market is projected to grow at an impressive rate through 2028 due to increasing demand from the packaging industry. China's overall production of plastic products amounted to 80 million metric tons in 2021. Due to its characteristics, including formulation flexibility, low melt viscosity, strong heat resistance, thermal stability, and a controlled molecular weight, it is applied in the plastic production process. Candles, rubber adhesives, plastic additives, lubricants, and cosmetics employ polyethylene wax.
Additionally, it applies coatings, bonds, and printing inks. Consequently, the global polyethylene wax market is experiencing profitable growth due to rising product demand. Manufacturers are now using metallocene, a polymerization process, to produce HDPE and LDPE because it offers enhanced and improved performance. This is anticipated to support the market expansion of polymerization technology for PE wax. Manufacturing of co-polymers, oxidized, acid-modified, and unique monomers uses modification technology. The technological share is anticipated to expand during the projection period because of the rapid demand for acid-modified and oxidized products.
Growing Demand from The Construction Industry
According to the United Nations, the world's population reached 8 billion on November 15, 2022 . Hence, there is promising demand in the construction industry to meet the demand for urban and rural homes.
The market for polyethylene wax is anticipated to be driven by the expanding construction industry. Because it gives a good level of water repellency, enhances texture, has anti-settling qualities, and offers abrasion resistance, polyethylene wax is used in paints and coatings. Emulsions made from polyethylene wax improve texture and prevent color fading.
Increasing Demand from Packaging Industry
Increased demand for FMCGs, pharmaceutical supplies, and other consumer durables has increased the need for packaging. These factors, together with growing urban populations, are to blame for the increase in packaging requirements. According to the Flexible Packaging Association, more than 60% of the market comprises flexible packaging for food.
The demand for flexible packaging is growing swiftly because it has the potential to offer novel solutions to many packaging issues. IBEF further notes that the food processing industry, which accounts for 32% of India's total food market and ranks fifth in production, consumption, and exports, is one of the country's most important industries, with 70% of revenues coming from retail.
Due to the rising demand from numerous sectors, several aggressive market players are concentrating on raising polyethylene wax output, assisting in the market's expansion. Market participants compete to maintain an edge over rivals. To investigate cutting-edge methods for manufacturing polyethylene wax, scientists from industrialized nations are expanding their research activities in polymer science.
Technological advancements are accelerating the growth of the polyethylene wax market. Market expansion is accelerating across Asia , particularly in China and India . The market is expected to develop due to the surge in demand for affordable polyethylene wax.
Company Profiles: Detailed analysis of the major companies in Global Polyethylene Wax Market.
Global Polyethylene Wax market, by type:
Global Polyethylene Wax market, by process:
Global Polyethylene Wax market, by application:
Global Polyethylene Wax Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/l4kd2y-wax?w=5
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