International. According to the Transparency Market Research report, the global polyethylene wax market was valued at US$258.9 million in 2014 and is likely to reach US$359.1 million in 2023, growing at a CAGR of 3.7% between 2015 and 2023.
This product is manufactured by polymerization of ethylene, which is a derivative of crude oil. Companies have developed the polymerization process for the manufacture of wax with different properties. This is because the level of polymerization affects the physical properties of polyethylene wax. The molecular weight of polyethylene wax falls in the range of 600 to 10,000.
According to the study, in terms of volume additives and coatings are likely to be the second fastest growing segment in the global polyethylene wax market during the forecast period.
The demand for this product in Latin America is estimated to increase at a moderate rate in the coming years, due to the growing demand for polyethylene wax in the segments of plastic additives, lubricants, adhesives and coatings.
