PE Micronized Wax Market Report Overview
-
Request a Free Sample to learn more about this report
The global PE micronized wax market size was USD 351.5 million in 2022. As per our research, the market is expected to reach USD 426.5 million by 2029, exhibiting a CAGR of 3.3% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the PE micronized wax market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
PE micronized wax is a type of wax that is made from polyethylene (PE). It is a white, odourless, and tasteless powder that is very fine, with particles typically less than 1 micron in size. It is used in a variety of applications.
It can be added to coatings and paints to improve their gloss. This is important for products that need to have a shiny finish, such as car paint and furniture varnish. It can be added to coatings and paints to improve their adhesion to the surface they are applied to. This is important for products that need to have a strong bond to the surface, such as industrial coatings and marine paints.
COVID-19 Impact: Pandemic Decreased the Market Demand
The slowdown in economic activity has reduced the demand for it in various industries. The pandemic has led to a decrease in consumer spending, which has reduced the demand for products that use it, such as coatings, paints, inks, and adhesives. In addition, the pandemic has also led to a decrease in industrial production, which has reduced the demand for it in the plastics and rubber industries. The pandemic has disrupted the supply chain of PE micronized wax. The pandemic has led to factory closures and shipping delays, which has made it difficult for manufacturers to get the PE micronized wax they need. This has led to shortages and higher prices, which has further dampened demand. The pandemic has created uncertainty about the future, which has made businesses reluctant to invest in new products and technologies. This uncertainty has led to a decrease in the demand for it, as businesses are waiting to see how the pandemic will impact their industry before making any major investments.
Latest Trends
"Increasing demand for PE micronized wax in the pharmaceutical industry is expected to fuel the growth in the market"
PE micronized wax is used in the pharmaceutical industry to improve the properties of pharmaceutical products, such as tablets, capsules, and creams. The increasing demand for oral and topical medications is driving the demand for it in this industry. It can be added to powders to make them flow more freely, which is important for the manufacturing of tablets and capsules. It can be added to powders to prevent them from caking or sticking together, which is important for the storage and handling of pharmaceutical products. It can be added to creams and ointments to improve their stability and prevent them from separating. The increasing demand for oral and topical medications is driving the demand for it in the pharmaceutical industry. Oral medications, such as tablets and capsules, are the most common form of medication, and it is used to improve the flow ability and stability of these products.
PE Micronized Wax Market Segmentation
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be segmented into polyethylene wax powder and oxidized polyethylene wax powder.
- By Application Analysis
Based on age, the market can be divided into paint and coating, printing ink and other.
Driving Factors
"Increasing demand for coatings, paints, and inks to foster the market growth"
The increasing demand for these products owing to variety of coatings, paints, and inks to improve their properties It can be added to coatings and paints to improve their gloss. This is important for products that need to have a shiny finish, such as car paint and furniture varnish. It can be added to coatings and paints to improve their adhesion to the surface they are applied to. This is important for products that need to have a strong bond to the surface, such as industrial coatings and marine paints. It can be added to coatings and paints to improve their water resistance. This is important for products that need to be protected from moisture, such as exterior paints and marine coatings. The increasing demand for coatings, paints, and inks is driving the demand for it. This is due to the growing construction industry, the increasing demand for automotive products, and the growing consumer demand for decorative products.
"Growing demand for lightweight vehicles to result in the expansion of the market"
It is used in the automotive industry to improve the fuel efficiency of vehicles. The increasing demand for lightweight vehicles is driving the demand for it in this industry. It is used in the automotive industry to improve the fuel efficiency of vehicles. This is done by reducing the weight of the vehicle, which can lead to a significant improvement in fuel economy. It is typically used in the manufacture of plastic parts, such as bumpers, spoilers, and grilles. The increasing demand for lightweight vehicles is driving the demand for it in the automotive industry. This is due to the increasing fuel prices and the growing environmental concerns.
Restraining Factors
"Competition from synthetic waxes to hamper the market growth"
Synthetic waxes are a substitute for it. The increasing competition from synthetic waxes can impact the demand for It. Synthetic waxes are typically less expensive than PE micronized wax. This is because synthetic waxes can be made from petroleum by-products, which are more abundant and less expensive than the raw materials used to make it.
PE Micronized Wax Market Regional Insights
-
Request a Free Sample to learn more about this report
"Asia Pacific to lead the market owing to technological advancements. "
The Asia Pacific region has shown the highest PE micronized wax market growth. There are a number of technological advancements taking place in the PE micronized wax industry, such as the development of new grades of PE micronized wax with improved properties. These advancements are expected to drive the growth of the PE micronized wax market in the Asia Pacific region.
Key Industry Players
"Key players are employing advanced technologies in order to stimulate further growth of the market"
All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.
List of Market Players Profiled
- Clariant: Muttenz, Switzerland
- BASF: Ludwigshafen, Germany
- Honeywell: Morristown, New Jersey, United States
- Lubrizol: Wickliffe, Ohio, United States
- Deuteron: Shanghai, China
- Ceronas: Milan, Italy
- MUNZING: Worms, Germany
- Shamrock Technologies: Houston, Texas, United States
- Nanjing Tianshi New Material: Nanjing, China
- Shanghai Jiaoer Wax: Shanghai, China
- Jiangxi Longhai Chemical: Nanchang, China
- Kunshan Xinkui Chem: Kunshan, China
Report Coverage
This report examines an understanding of the PE micronized wax market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 351.5 Million in 2022 |
Market Size Value By |
US$ 426.5 Million by 2029 |
Growth Rate |
CAGR of 3.3% from 2022 to 2029 |
Forecast Period |
2022-2029 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the PE micronized wax market expected to touch by 2029?
The PE micronized wax market is expected to touch USD 426.5 million by 2029.
-
What CAGR is the PE micronized wax market expected to exhibit during 2022-2029?
The PE micronized wax market is expected to exhibit a CAGR of 3.3% over 2022-2029.
-
Which are the driving factors of the PE micronized wax market?
The driving factors of the PE micronized wax market are increasing demand for coatings, paints, and inks and growing demand for lightweight vehicles.
-
Which are the top companies operating in the PE micronized wax market?
The top companies operating in the PE micronized wax market are Clariant, BASF, Honeywell, Lubrizol, Deuteron, Ceronas, MUNZING, Shamrock Technologies, Nanjing Tianshi New Material, Shanghai Jiaoer Wax, Jiangxi Longhai Chemical, Kunshan Xinkui Chem.
