PE wax, or polyethylene wax, is a synthetic wax derived from ethylene, a by product of crude oil refining. It's a low molecular weight form of polyethylene, meaning it has a relatively small chain structure, giving it wax-like properties like low viscosity, high hardness, and a relatively high melting point. These properties make it useful as a lubricant, release agent, and processing aid in various industries, including plastics, coatings, and inks.