The growth of this market can be attributed to the growing applications of polyethylene wax. Plastic processing is the largest application segment of the polyethylene wax market. The various advantages of polyethylene wax as a lubricant in PVC processing and as a dispersing agent in masterbatch will help create demand for polyethylene wax in plastic processing during the forecast period.
Based on process, polymerization is expected to be the largest segment of the market, in terms of volume, during the forecast period.
The polymerization process segment accounted for the largest share in terms of volume in 2016, of the polyethylene wax market. It is produced by the high-pressure polymerization of ethylene. HDPE and LDPE are obtained through this process. These waxes are generally used as a lubricant for PVC processing, a modifier in hot-melt adhesives, and as an additive in the water-based emulsion to improve slip, rub, and scratch resistance.
Based on type, the oxidized segment of the polyethylene wax market is projected to witness the highest growth during the forecast period. The growth of this segment is backed by its use in different applications, such as lubricants for PVC processing, dispersing agents for polar masterbatches, surface modifiers in hot-melt adhesives, and processing aids in various industries.
Plastic processing is expected to lead the polyethylene wax market during the forecast period. In plastic processing, polyethylene wax is used as a lubricant in PVC processing and as a dispersing agent for color masterbatch. It is used to influence different chemical properties, such as viscosity, temperature, gloss, and fusion speed.
The polyethylene wax market in APAC is expected to witness the highest growth during the forecast period. Rapid industrialization, growing demand from various applications, and increasing government spending are expected to drive the market in this region. China is projected to be the fastest-growing market in the region due to huge demand from various end-use applications.