BASF SE, SCG Chemicals Co., Ltd. and Honeywell International, Inc are Dominating the Global Polyethylene Wax Market in 2018

Global Polyethylene Wax Market is expected to register a steady CAGR of 4.8% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below:

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The polyethylene wax market is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market will see a prominent growth in the coming years due to increased usage of polyethylene wax in packaging and increased usage of polyethylene wax as smoothing agent in textiles.

The market has witnessed developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, In November 2018, Clariant announced the investment for the production capacity of its (EO) ethylene oxide facility situated in Gendorf, Germany. The expansion will help in development of EO-based specialties for variety of industries including crop solutions, personal and home care and industrial applications. It will help in enhancing profitable growth in both developed and emerging markets.

BASF SE dominated the global polyethylene wax market. The other key market players in the market include SCG Chemicals Co., Ltd., Honeywell International, Inc, Clariant, Mitsui Chemicals, Inc., Innospec, The Lubrizol Corporation, Baker Hughes, a GE company LLC, Westlake Chemical Corporation, ceronas GmbH & Co. KG, COSCHEMCO.,LTD, DEUREX AG, euroceras Sp. z o.o., Formosa Plastics Corporation, U.S.A., Linvest GmbH, Lion Chemtech Co., Ltd., Qingdao Bouni Chemical Co., Ltd, SQI Group, TRECORA RESOURCES, The International Group, Inc. and WIWAX.

BASF SE:

BASF SE headquartered in Ludwigshafen, Germany was established in 1865. The company is engaged in providing chemicals, plastics, performance products and crop protection products to oil and gas. The company operates through four business segments which include functional materials & solutions, chemicals, performance products and agricultural solutions. The market focused segment is chemicals. The product categories of the company include automotive & transportation, agriculture, plastics & rubber, electronics & electric, construction, energy & resources, pharmaceuticals, textile, leather & footwear, furniture & wood, packaging & print, pulp & paper, home care and industrial &institutional cleaning, paints & coatings, personal care & hygiene, chemicals and nutrition in which home care and I&I cleaning is market focused category. The company has 122,404 employees as of 31st December, 2018.

  • In June 2017, BASF SE inaugurates new plant for waxes and emollients in China so that they can meet the increasing demand of wax in Asia-Pacific and can also able to meet the personal care demand in Asia-Pacific.

It has its global networks in Americas, Asia, Middle East and Africa and Europe. It operates through its subsidiaries such as BASF Coatings GmbH (Germany), Wintershall (Germany) , BASF Japan (Japan), Engelhard (U.S.), PCI Augsburg GmbH (Germany), Cognis (Germany) among others.

SCG Chemicals Co., Ltd:

SCG Chemicals Co., Ltd headquartered in Bangkok, Thailand was established in 1913. The company is engaged in production and manufacturing of different types of polymers. The company has four operating divisions namely, chemicals business, siemens - business and construction products, packaging business and other work and the market focused segment is chemicals business.  The product categories of the company include cement-building materials, chemicals, packaging and others in which chemicals is market focused category. The company has 52,971 employees as of 31st December, 2018.

  • In August 2019, SCG acquired 80 per cent shares of Visy Packaging (Thailand) Ltd for an amount of USD 143.2 million. The acquired company deals in advanced thermoformed food packaging. It will help the company to increase its sales of PE wax which is getting used in packaging applications.

It has its global networks in Thailand, Indonesia, Vietnam and Myanmar. The company operates through its subsidiaries such as SCG Cement-Building Materials Co., Ltd. (Thailand), Thai Polypropylene Co., Ltd. (Thailand), SCG LEGAL COUNSEL LIMITED (Thailand), The Nawaplastic Industries (Saraburi) Co. Ltd. (Thailand), SCG Distribution (Thailand) and others.

Honeywell International, Inc:

Honeywell International, Inc. headquartered in North Carolina, U.S. was incorporated in 1985. The company is engaged in developing and manufactures technologies for electronic, energy, safety, security, productivity, and global urbanization. It operates through four major strategic business units which include aerospace, building technologies, performance materials & technologies and safety & productivity solution and the market focused segment is performance materials & technologies. The product categories of the company include aerospace & defence, buildings and cities, chemicals & materials, industrial & manufacturing, retail, safety, sporting goods and supply chain and the market focused category is chemicals & materials. The company has 11,4000 employees as of 31st December, 2018.

  • In September 2019, Honeywell International Inc started using UOP's C3 Oleflex technology for producing 450,000 metric tons per year of polymer-grade propylene in a new petrochemicals complex in China. This technology will help the company to expand its business in China and to meet the requirement for propylene.

The company has wide geographical presence in Africa, Asia-Pacific, Europe, Latin America, Middle East, and North America. It operates through its subsidiaries such as Hand Held Products, Inc. (U.S.), Honeywell (China) Co., Ltd., Honeywell Aerospace de México, S. de R.L. de C.V. (Mexico), Honeywell ASCa Inc. (Canada), Honeywell Automation India Limited (India), Honeywell Aerospace Avionics Malaysia Sdn Bhd. (Malaysia), Honeywell Aerospace (UK), Honeywell Pte. Ltd.  (Singapore), Honeywell Specialty Chemicals Seelze GmbH (Germany) and among others.