The global modified-polypropylene-waxes market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Polypropylene wax is a chemical that is produced by cracking and pulverizing with hot air. Polypropylene wax is widely used in a variety of applications, including the production of plastics, rubber, adhesives, printing inks, and paints, among others. The market’s expansion can be attributed to rising demand for polypropylene waxes in a variety of applications such as plastics and polymers, hot melt adhesive, inks and paints, and release agents. Furthermore, the rising demand for polypropylene waxes from emerging economies is fueling growth in this market. However, volatility in raw material prices may limit the market’s growth during the forecast period. Moreover, the polypropylene waxes market has grown significantly as a result of factors such as increased demand for polypropylene wax from the plastic industry. Furthermore, the rising demand for PP waxes from the paints industry creates a huge market opportunity for key players in the polypropylene waxes market.
Slips and falls are one of the leading causes of occupational injuries, according to the National Floor Safety Institute (NFSI). Slippery work floors are dangerous and can result in fatal injuries. Across the globe, there has been an increase in demand for anti-slip floor coatings to prevent slip and fall incidents at the workplace. Furthermore, modified polypropylene is the additive that gives floor coatings anti-slip properties. The growing consumer preference for matt finishes on a wide range of products in industries such as automotive and electronics is expected to boost the global modified polypropylene wax market. Due to its high melting point, modified polypropylene wax is also used as a mould release agent in precision metal castings.The dripping and softening points of modified polypropylene wax are both high. Furthermore, these waxes have excellent matting, anti-slip, and soft touch feel properties, making them an ideal coating additive for applications on metal, wood, and plastic substrates. Polypropylene is also used as a resin binder in polymer composites. The global demand for these composites is expected to drive the modified polypropylene wax market.
Looking towards the high demand for modified-polypropylene-waxes key manufacturers of polypropylene-waxes agents are adopting several market growth strategies such as mergers & acquisitions, partnerships, and new product launches among others to meet the growing demand for dental biomaterials of dental consumables. For instance, in June 2021, PolyPacific Polymers Sdn. Bhd. (PPM) in Port Klang, Malaysia, was acquired by LyondellBasell Industries Holdings B.V. LyondellBasell Industries Holdings B.V. expects this acquisition to bring a 25kt manufacturing facility producing reinforced and modified polyolefin compounds under its control, strengthening its position in the Asia-Pacific region.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Altana AG, AROMAT Chemical Products, Clariant Ltd., Qingdao Sinoplas Hi-New Material Co., Ltd., Micro Powders, Inc., Shamrock Chemical Corporation, ARKEMA INC., among others.
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Global Modified-Polypropylene-Waxes Market Report by Segment
By Type
- Powder
- Emulsion
- Other
By Application
- Plastic
- Nk
- Coating
- Other
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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