Polyethylene Wax Market to achieve 3.5% CAGR over 2018 to 2024 from Packaging applications
The massive scope that APAC Polyethylene
Wax Market
holds in terms of growth mainly grounds on the fact that the region has
shown immense growth in construction, automotive, and food sectors over the
past few years. The region, for instance, accounted for almost 35% of the
overall construction spending in 2016, and is likely to cover nearly 60% of the
global share by 2025.
Inherently stimulated by the fact that PVCs have been
increasingly replacing traditional building materials on grounds of its cost
effectiveness and versatility, APAC polyethylene wax industry size is slated to
generate a substantial momentum in the coming timeframe. Add to it, the
expansive automotive sector is also claimed to be another pivotal factor
complementing the business growth.
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Boasting of an all-encompassing application landscape
including packaging, candles, and plastics additives & lubricants sectors,
polyethylene wax market, is poised to carve a profitable roadmap over the
ensuing years. Polyethylene waxes are basically low molecular weight polymers,
widely utilized for improving the process properties and parameters of finished
products closely linked to plastic industry. It therefore comes as no surprise
that changing polyethylene wax industry trends are meticulously hinged to the
massive growth in plastic sector.
For the records, world plastics production, in the year
2016, was almost around 335 million metric tons, and has witnessed an estimated
CAGR of 8.6% over 1950-2015. In fact,
over 9 billion tons of plastic has been produced since 1950, claim reliable
sources. Quite vividly evident from the
aforementioned statistics, plastic industry has witnessed a paramount upswing
over the years, subsequently opening up a plethora of new opportunities for
polyethylene wax industry players.
Having said that, it is imperative to mention that the
competitive hierarchy of polyethylene wax market is rather consolidated, with
few large-scale manufacturers having procured almost 50% of the global share in
2016. These giants, as it is observed lately, have been readily inclining
toward integrating their operational capabilities throughout the supply chain
model of the product ecosystem, in a bid to stronghold their presence in the
global business space. For instance, renowned biggies like SCG Chemicals and
Westlake Corporation, have not limited their production facilities to PE wax,
but also PVC, given the fact that these lubricants are extensively deployed in
polyvinylchloride production.
In PVC processing industry, the deployment of lubricants is
extremely essential. Several rationales like machine melt pressure,
productivity, energy consumption of the processing equipment, and gelation of
PVC, are directly affected by the right combination, selection, and dosage of
lubricants. Probably, pertaining to its capabilities of improving molding
complexity and abrasion resistance, PE wax has been universally recognized as
an efficient external lubricant for PVC processing.
With global PVC market estimated to exceed a valuation of
55 million tons by 2024, in terms of volume, polyethylene wax market is deemed
to witness substantial gains over the coming years. Add to it, increasing
construction spending especially across APAC belt has tremendously upscaled PVC
demand, leaving a parallel impact on the regional polyethylene wax market.
The controlled molecular weight and narrow poly disparity
of PE wax provide diverse benefits such as low melt viscosity, narrow melt
range and formulating flexibility.
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Polyethylene Wax Market to achieve 3.5% CAGR over 2018 to 2024 from Packaging applications
Reviewed by snehal
on
July 03, 2018
Rating:
Reviewed by snehal
on
July 03, 2018
Rating:
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