Ningbo Huashang Supply Chain Co.,LTD

Due to the unique chemical properties of PVC, it is prone to thermal decomposition during processing, necessitating the addition of plasticizers, heat stabilizers, lubricants, and some modifiers. The inclusion of wax primarily aims to make the PVC processing performance and process more scientifically rational, improve the product yield rate, and meet the mechanical performance and appearance requirements of the products.

The PVC industry chain encompasses two major sectors: PVC products and heat stabilizers, with heat stabilizers being a crucial additive in the production of PVC products.

From analysis, we can understand:

1) Fischer-Tropsch crude wax directly flows into the PVC product industry, especially in lower-end products within PVC rigid products where less heat stabilizer is used.

2) High melting point Fischer-Tropsch wax and cobalt-based Fischer-Tropsch wax, after precision cutting, are mainly used for heat stabilizers, especially in the production of calcium zinc stabilizers, and can also be used in the production of mid to high-end PVC rigid products. Currently, cobalt-based Fischer-Tropsch wax, due to its high price and good quality, is useful in the PVC industry chain but in limited quantities.

3) PVC products are divided into rigid and flexible products. In the production of PVC rigid products, the use of wax is relatively high, mainly high melting point wax, including PVC pipes, fittings, profiles, special profiles, panels, etc., among which PVC pipes have the largest usage. In flexible products, such as wires, cables, films, etc., different types of wax are added according to the product's performance requirements, with high melting point wax being added in smaller amounts.

4) Heat stabilizers include calcium zinc stabilizers and lead salt stabilizers, mainly used in the production of PVC products. The overall proportion of wax added in PVC end products is limited. This means that although fewer or no Fischer-Tropsch waxes are added compared to lead salt stabilizers, the addition ratio in PVC products considering performance processing will increase. A large amount of wax products are added to calcium zinc stabilizers, so the corresponding wax addition in PVC products needs to be reduced.

2. Hot Melt Adhesive Industry

Hot melt adhesives are thermoplastic materials that are solid at room temperature and used in a molten state, solidifying and adhering to the surface of objects upon cooling below the melting point temperature. Unlike other liquid adhesives, hot melt adhesives generate adhesive action solely through cooling rather than relying on chemical reactions or evaporation of solvents. Hot melt adhesives are primarily applied in automotive interiors, paper pasting, shoe materials, packaging, and other fields, where the main performance requirements include improved heat resistance, rapid bonding, and quick drying.

In hot melt adhesives, paraffin wax, polyethylene wax, and high melting point Fischer-Tropsch wax are commonly used. Paraffin wax has a low melting point, around 58°C, while polyethylene wax and high melting point Fischer-Tropsch wax are generally above 100°C. Paraffin wax, being a low softening point product, has relatively high hardness at room temperature but poor heat resistance and slow curing characteristics, making it suitable for low-temperature hot melt adhesive products. Polyethylene wax and high melting point Fischer-Tropsch wax, due to their higher melting points, are generally suitable for developing heat-resistant and mechanically strong hot melt adhesives, significantly improving the heat resistance and quick drying properties of hot melt adhesive products. High melting point synthetic waxes commonly used in hot melt adhesives are polyethylene wax and Fischer-Tropsch wax.

3. Inks and Coatings

The application of wax products in the ink and coating industry is very small, only in the thousand-ton level, hence a brief introduction to this industry chain follows.

First, wax raw materials need to be processed into wax additives before being sold to the ink and coating industry. Wax raw materials are in solid form and cannot be directly added to ink and coating formulations in most cases; they must first be refined into micronized wax or emulsified wax (i.e., deep-processed Fischer-Tropsch wax), then sold to the ink and coating industry. Wax additives are an indispensable aid in the entire coating industry and are used in almost all areas, including powder coatings, wood coatings, industrial paints, and automotive paints. Although the addition ratio is not high, their effects are significant, mainly enhancing耐磨性，抗皱性， and抗划痕性 or preventing mechanical surface scratches.

Wax additives constitute a formula system that can be made from one or several different types of waxes, each composition endowing the wax additive with unique properties. According to chemical composition, they can be divided into polyethylene wax, polypropylene wax, polytetrafluoroethylene wax, polyamide wax, Fischer-Tropsch wax, etc. In terms of compatibility and cost-effectiveness, polyethylene wax is the best, meeting general requirements for increased hardness and scratch resistance, thus having the widest application range. In terms of increasing hardness and scratch resistance, polytetrafluoroethylene wax is the best but also the most expensive, limiting its use.

4. Masterbatch Fillers

Masterbatch fillers mainly refer to polyolefin masterbatch fillers, composed of carrier resins, fillers, and various additives, among which fillers are the main component, accounting for up to 90%, primarily aimed at reducing production costs. Therefore, all three components also generally use inexpensive materials for production, such as recycled PE, PP, and PVC or PP powder for resins, and widely available and inexpensive calcium carbonate for fillers, with additives primarily using Fischer-Tropsch crude wax and by-product polyethylene wax. Polyolefin masterbatch fillers are mainly used in the production of polyolefin plastics such as polyethylene and polypropylene. For example: polyethylene hollow blow molded products, polyethylene injection molded products, polyethylene films, polypropylene woven bags, woven fabrics, and strapping tapes, etc.

In recent years, many manufacturers have developed a variety of new products that have been applied and promoted in the market. For instance, modified masterbatch produced from PP/talc powder is processed into disposable fast food containers (utensils), featuring low cost and exquisite appearance. PE/talc powder produced modified masterbatch can be used for cables and wires, etc. In plastic filler masterbatches, due to the addition of a large amount of calcium carbonate fillers, the properties of the plastic are greatly reduced, necessitating low viscosity, high hardness, and high dispersion power waxes to act as dispersing lubricants to adjust the surface conditions of calcium carbonate, enabling it to be effectively and uniformly dispersed into the carrier, reducing wear on production equipment and energy consumption, ensuring good performance of the masterbatch in downstream use. Common dispersants include: white oil (liquid paraffin), paraffin wax, dioctyl phthalate, polyethylene wax, Fischer-Tropsch wax, and stearic acid. Since Fischer-Tropsch wax is cheaper than paraffin wax and polyethylene wax, many masterbatch filler manufacturers use Fischer-Tropsch wax instead of paraffin wax and polyethylene wax. Currently, most of the dispersants added to masterbatch fillers are Fischer-Tropsch crude wax. It is applied in mid to low-end masterbatch fillers, generally with a Fischer-Tropsch wax addition ratio of up to 5%. According to statistics, the consumption of FischerAccording to statistics, the consumption of Fischer in 2020 the consumption of Fischer-Tropsch wax in 2020 was approximately 30,000 tons. With the continuous expansion of the future plastic market, the demand for plastic additives is also rising.

5. Color Masterbatch

Color masterbatch, also known as color concentrate or simply masterbatch, is a composite obtained by uniformly loading an exceptional amount of pigments or dyes onto a resin matrix. It is a novel type of polymer material-specific colorant that is currently widely used in plastic products and chemical fiber products. The production of color masterbatch involves the process of dispersing pigment aggregates into primary particles or crystals under shear force. In this industry, high-melting-point wax primarily uses polyethylene wax, with Fischer-Tropsch wax being rarely used, mainly due to its poor dispersibility, which prevents it from replacing polyethylene wax. The color masterbatch industry is highly competitive, with high, medium, and low-end products corresponding to different types of polyethylene waxes, such as synthetic polyethylene wax, cracked wax, and polyethylene by-product wax. Additionally, the requirements for low-end products in this industry are not high, allowing for the use of Fischer-Tropsch crude wax, but it is not the ideal product. Since 2011, China's color masterbatch industry has maintained continuous growth, developing from 624,000 tons in 2011 to 1.8 million tons in 2019, and is expected to reach 2.4 million tons by 2025.