Global Cross-linked Polyethylene Market is Expected to Reach USD 9.32 Billion by 2025 : Fior Markets

Global Cross-linked Polyethylene Market by Type (High Density Polyethylene, Low Density Polyethylene), by Process, Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

| Source: Fior Markets Fior Markets

New Jersey, NJ, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Owing to demand from the automobile industry, housing and industrial sectors for wiring and piping applications are proving to be the driving factors for this growth. The global cross-linked polyethylene market is expected to grow from USD 5.46 billion in 2017 to USD 9.32 billion by 2025 at a CAGR of 6.91% during the forecast period 2018-2025, according to the new report published by Fior Markets.

Crosslinking of polyethylene molecules in the presence of crosslinking agent leads to higher molecular weight with improved mechanical and chemical properties like tensile strength, resistance to abrasion, corrosion and fire resistance. Due to this cross-linking, polyethylene polymers are increasingly being used in the fields of surgery and healthcare. For instance, a study published in The Journal of Bone & Joint Surgery conducted by Australian Orthopedic Association, National Joint Replacement Registry professor, Richard de Steiger, and his colleagues claimed that the use of Cross-linked Polyethylene has resulted in a significant reduction in the rate of revision for hip implant surgery.

The cross-linked polyethylene has revolutionized the piping and tubing segment with its superior qualities such as ease in use, assembly and cost-effectiveness over its metal counterparts. Technological advancement in research and development for new varieties of cross-linked polyethylene are expected to pave innovative applications for the fields of surgery in healthcare. However, plumbing failure and safety hazard issues may limit market growth. Increasing worldwide expenditure on consumer goods as well as acceptance of electrical vehicles is expected to propel the demand for cross-linked polyethylene in the upcoming years.

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The key players in global cross-linked polyethylene market are Borealis AG, Arkema Group, The Dow Chemical Company, AkzoNobel NV, ExxonMobil Chemical Company, LyondellBasell Industries, PolyOne Corporation, 3H Vinacom Co, Hanwha Chemicals, Falcone Specialities AG, Hyundai EP, Saco Polymers Inc, Solvay SA, Vanderbilt Chemicals LLC, Zimmer Inc, Reliance Industries and others. To enhance their market position in the global cross-linked polyethylene market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

  • The inexhaustible demand for cross-linked polyethylene is nudging all the global players towards expanding their manufacturing capacities. For instance, ExxonMobil Chemical Company announced in 2017 that it had commenced production in the first of two new 650,000 tons-per-year high-performance polyethylene lines at its plastics plant in Mont Belvieu, Texas, USA.
  • To better serve the ever-increasing demand for cross-linked polyethylene in developing economies of the world, many major firms have started manufacturing locally. For instance, India became a net exporter of cross-linked polyethylene in 2017 from being the net importer in the past. Developing economies on account of their high population and increasing per capita disposable income is going to prove to have the largest market for cross-linked polyethylene. Increasing acceptance of cross-linked polyethylene for newer and innovative applications are also expected to be a major driving force.

High-Density Polyethylene (HDPE) held the largest share of 59.25% in 2017

The type segment includes High-density polyethylene (HDPE) and Low-density polyethylene (LDPE). HDPE segment dominated the market share by accounting for 59.25% of total revenue. HDPE is the preferred material in piping solutions for the transportation of gas and industrial fluids owing to its superior corrosion, abrasion and cracks resistance. Increased demand for LDPE is accounted to its low production cost and superior insulation property.

Chemical manufacturing process type led with a share of 82% by market volume in 2017

Process type is divided into chemical and physical process manufacturing type. Chemical process type dominated the market with a share of 82% of the total cross-linked polyethylene market by total volume. Ever rising demand from the piping segment for housing and industrial use is expected to propel the demand for chemical type process at a CAGR of 7.21% over the forecast period. Physical type process is also forecasted to grow at a higher trajectory due to its application in manufacturing of cross-linked polyethylene for surgical and healthcare sectors.

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Automobile applications segment is expected to grow with a CAGR of 9.14% over the forecast period

Applications segment consists of plumbing, wires & cables, automotive, surgical, packaging and others. Due to the advent of electric vehicles and hybrid cars, the automobile sector is expected to grow at a CAGR of 9.14% CAGR during the forecast period. Plumbing industry held the largest share of the market at USD 1.64 billion in 2017. Surgical application segment is also growing at a faster pace due to increasing acceptance of cross-linked polyethylene in surgical implants. Unabated consumption of FMCG products is also expected to propel the demand for packaging material made up of cross-linked polyethylene.

Regional Segment Analysis of the Cross-linked Polyethylene Market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific led the market for cross-linked polyethylene with USD 2.27 billion of total market revenue in 2017 whereas Europe and North America are growing at a significant growth rate. The Asia Pacific led the global demand for cross-linked polyethylene on the back of massive demand for automobiles and residential spaces. Developing nature of economies in this segment and surging population with increased disposable income in hand is fuelling this growth. Also, massive consumption of FMCG goods is a contributing factor for cross-linked polyethylene packaging material. Asia Pacific region is forecasted to witness the growth at a 9.13% CAGR over 2018-2025. Europe and North America regions are also expected to report a stable growth owing to their well-developed automotive industry and the consumer economy.

About the report:

The global cross-linked polyethylene market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), import (Kilotons), and export (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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Cross-linked Polyethylene High Density Polyethylene Low Density Polyethylene

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