New York, USA, July 24, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global polyethylene market size is predicted to grow from USD 102.70 billion in 2023 to USD 161.08 billion by 2032. It is anticipated to grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2032, according to the latest research report by Polaris Market Research.
Market Introduction:
What is Polyethylene?
Polyethylene is one of the most frequently utilized plastics globally. They normally possess a linear framework and are acknowledged to be addition polymers. The principal application of these man-made polymers is in packaging. It is frequently utilized to render plastic bags, bottles, plastic films, containers, and geomembranes. It can be understood that over 100 milion tonnes of polyethylene is generated on a yearly basis for mercenary or industrial grounds.
The polyethylene market is witnessing substantial demand owing to the utilization of polyethylene in plastics is credited to its attractive attributes such as chemical aversion, corrosion aversion, and the potential to combat jarring aerial conditions. Additionally, the growing demand for plastics worldwide is notably highlighting global players to augment their production through alliances, partnerships, and funding.
Download Free Sample PDF Copy of the Report:
https://www.polarismarketresearch.com/industry-analysis/polyethylene-market/request-for-sample
Polyethylene Market Report Attributes
| Report Attributes | Details |
| Market value in 2023 | USD 102.07 billion |
| Market value in 2032 | USD 161.08 billion |
| CAGR | 5.2% from 2024-2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Key Highlights of the Report:
- Several factors, including the surging advancement of agricultural instruments and machines with polyethylene, are driving the market for polyethylene.
- The market is primarily segmented on the basis of type, technology, end-user, and region.
- North America dominated the market with the largest polyethylene market share.
Polyethylene Market Key Players:
- Chevron Phillips Chemical Company (US)
- China Petrochemical Corporation (China)
- Exxon Mobil Corporation (US)
- Formosa Plastics Corporation (Taiwan)
- Ineos Group Holdings (UK)
- LyondellBasell Industries NV (UK)
- Mitsui Chemicals Inc. (Japan)
- Petronas Chemicals Group (Malaysia)
Request for a Discount on this Report Before Purchase:
Top Market Developments:
Growth Drivers and Trends:
- The Growing Production of Plastics: The surging production of plastics with the existence of entrenched market players globally is notably encouraging its obtainability in the market. The rock-bottom intricacy of generating polyethylene is additionally augmenting the nearness and reasonability in the global market. As per the Observer Research Foundation, plastic production has evolved from 230 million tonnes at the commencement of the twentieth century to 450 million tonnes prior to the Covid-19 epidemic.
- Growing Usage in the Packaging Industry: Polyethylene is acquiring acquisition in the packaging industry. This is due to the weightlessness and accessibility. Resilient attributes of HDPE-dependent polyethylene and slashing and rupture aversion are additionally pushing the usage in garbage, grocery, and retail bags, which is supporting the polyethylene market growth.
- Growing Demand for Fertilizers: The growing surge in agricultural instruments and machines with polyethylene and the escalating demand for fertilizers and seeds are escalating the requirement for productive packaging substances. Additionally, the growing demand for polyethylene is further pushing its production in the marketplace. For instance, in September 2023, Nestle declared that it had set foot into an alliance structure with Mitsubishi Corporation to make polyethylene terephthalate.
Challenges:
Environmental Contamination: The growing research concentrates on evaluating the attributes of plastics, and recycled plastics are possible to hamper the market growth. As per the 2024 study, roughly 15 decided recycled plastic commodities were detected to be toxic. Additionally, the escalating environmental contamination causes a surge in greenhouse gas discharge is having an adverse impact on the market.
Which Region Leads the Polyethylene Sector?
- North America: The North America region dominated the polyethylene industry with the largest revenue share. This is propelled by the surging acquisition of plastic in automotive, agriculture, electronics, consumer goods, and packaging, together with improved obtainability of polyethylene and surging production ventures.
- Asia Pacific: Asia Pacific is anticipated to witness the fastest growth in the polyethylene market over the estimated period. This is due to altering consumer inclination towards eco friendly commodity packaging and generating a commending environment for the market in the region.
Inquire more about this report before purchase:
https://www.polarismarketresearch.com/industry-analysis/polyethylene-market/inquire-before-buying
Segmental Overview:
By Type Outlook:
- LDPE
- MDPE
- HDPE
By Technology Outlook:
- Films & Sheets Extrusion
- Pipe Extrusion
- Injection Molding
- Blow Molding
- Others
By End User Outlook:
- Packaging
- Consumer Goods
- Healthcare and Pharmaceuticals
- Building and Construction
- Agriculture
- Automotive
- Electronics
- Household Application
- Others
By Region Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Browse More Research Reports:
Hydrogen Fluoride Gas Detection Market
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
Contact:
Likhil G
30 Wall Street
8th Floor,
New York City, NY 10005,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
