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Increase in Usage of Polyethylene Wax in Lubricants and Adhesive & Coatings: Key Driver of Polyethylene Wax Market
Polyethylene wax is increasingly used in packaging, food & beverages, pharmaceutical & petroleum, and refining industries
Demand for polyethylene wax is expected to increase in the near future due to the growth of infrastructure and construction industries
Demand for polyethylene wax is also anticipated to rise in emerging regions, especially in Asia Pacific, due to the increase in population in the region. Rise in need for improved infrastructure and residential spaces is expected to drive the global demand for solid acrylic resins. In turn, this is projected to boost the polyethylene wax market.
Increase in production and utilization of plastics to manufacture various products that are utilized in end-use industries such as automotive, packaging, and medical is a major factor driving the demand for polyethylene wax
Lubricants is likely to be a rapidly growing application segment of the global market during the forecast period, due to the high demand for these in the plastic processing industry. Increase in usage of plastic-based products such as PVC, plasticizers, and antioxidants in various end-use applications is a major factor that is boosting the demand for polyethylene wax in the lubricants application segment.
Paints and coatings are widely used in construction, automotive & transportation, and wood industries. They are primarily employed to protect structures from any external damage in the building & construction industry. Paints and coatings are used in various applications in residential and non-residential infrastructure & buildings, industrial equipment, automobiles & marine, and industrial wood.