Pune, June 05, 2020 (GLOBE NEWSWIRE) -- The global polyethylene market is set to gain momentum from its increasing usage in a wide range of industries, especially in construction and packaging. This is because PE provides increased impact strength, good electrical treeing resistance, excellent chemical resistance, high ductility, and reduced weight at a lower cost. Fortune Business Insights™ published this information in a recently published report, titled, “Polyethylene (PE) Market Size, Share & Industry Analysis, By Type (HDPE, LDPE, LLDPE), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Agriculture, Others), and Regional Forecast 2019-2026,” The report further states that the PE market size stood at USD 103.49 billion in 2019 and is projected to reach USD 143.30 billion by 2026, thereby exhibiting a CAGR of 4.1% during the forecast period.
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This Report Answers the Following Questions:
- How will the market be affected in the near future?
- Which companies are set to generate the largest revenue?
- What are the market opportunities, dynamics, and challenges?
- Which factors are responsible for the growth of the market?
COVID-19 Impact Analysis:
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Drivers & Restraints-
Rising Demand from Food & Beverage Industry to Augment Growth
Polyethylene is experiencing high demand from several industries, such as consumer goods, food & beverage, electrical & electronics, and automotive. It is capable of providing high rigidity that further helps manufacturers in the packaging of electrical and automotive spare parts. Manufacturers in the automotive industry are aiming to surge the efficiency of the vehicles by lowering their weight. Polyethylene delivers easy stiffness, sealing, and processability properties. In the food & beverage industry, the demand for packaging materials is, in turn, increasing the usage of polyethylene. It can prevent the damage of food items from moisture. These factors are expected to boost the polyethylene market growth in the coming years.
Segment-
Packaging Segment to Dominate Owing to Increasing Usage of Polyethylene
Based on end use industry, the market is categorized into agriculture, healthcare & pharmaceuticals, packaging, electrical & electronics, automotive, consumer goods/lifestyle, infrastructure & construction, and others. Out of these, the automotive segment held 5.6% polyethylene market share in 2018. The packaging segment is set to dominate the market in the coming years backed by the extensive usage of polyethylene for manufacturing a wide variety of packaging solutions, mainly for the food & beverage industry.
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Regional Analysis-
High Demand for Consumer Goods in the U.S. to Drive Growth in North America
North America procured USD 18.0 billion in 2018 in terms of revenue. The region is expected to grow considerably because of the high demand for polyethylene from the automotive, packaging, electrical & electronics, and healthcare & pharmaceuticals industries. The U.S. is presently dominating owing to the high demand for consumer goods and the increasing availability of petrochemicals at fair costs.
Asia Pacific, on the other hand, is set to lead the market throughout the forthcoming years stoked by the existence of industry giants in the developing nations, such as India and China. In addition to that, the infrastructure & construction and packaging industries in these regions are seeking for PE. It is also being used to make sports goods, textiles, and toys in this region.
Competitive Landscape-
Key Companies Follow the Strategy of Acquisition to Strengthen Position
The market consists of several organizations that are presently engaging in joint venture and acquisition strategies to intensify competition by strengthen their position.
Fortune Business Insights™ provides a list of all the polyethylene manufacturers operating in the market. They are as follows:
- BASF SE
- LyondellBasell
- China National Petroleum Corporation
- Borouge
- DuPont
- SABIC
- China Petroleum Corporation
- Reliance Industries Limited
- Formosa Plastics Group
- Orpic
- Total S.A.
- Tasnee
- INEOS
- ExxonMobil Chemical
- Braskem
- Other players
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Polyethylene Market Analysis, Insights and Forecast – By Type
- Key Findings
- Market Analysis, Insights and Forecast – By Type
- High-density Polyethylene
- Low-density Polyethylene
- Linear low-density Polyethylene
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Below are two of the latest industry developments:
- June 2019: Bemis Company Inc. was successfully acquired by Amcor to broaden the latter’s footprint and scale capabilities in the packaging industry.
- February 2019: MGM’s flexible packaging unit was acquired by Sealed Air Corporation to expand its operations in Asia Pacific. It would aid the company in broadening its lamination and printing capabilities in the region.
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