Portland, OR, Aug. 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global downstream polyethylene market generated $109.53 billion in 2021, and is projected to reach $180.49 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $109.53 billion |
| Market Size in 2031 | $180.49 billion |
| CAGR | 5.2% |
| No. of Pages in Report | 429 |
| Segments covered | Type, technology, end use industry, and region |
| Drivers | Strong, low cost, and resistant to chemicals |
| Extensive application in the packaging sector | |
| Opportunities | Increase in need for environmental prevention |
| Extensive application in automotive and consumer products | |
| Restrains | Presence of stringent rules and regulations |
| Price fluctuations of raw materials |
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COVID-19 Scenario:
- The outbreak of COVID-19 had a negative impact on the growth of the global downstream polyethylene market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of manufacturing facilities of various sectors such as automotive, electronics, consumer products, packaging, and others. Thus, the demand for polyethylene from these industries consequently reduced during the pandemic.
- This was majorly due to the stringent social distancing restrictions imposed by the government to curb the spread of the virus during the pandemic.
- In addition, fluctuations in prices of raw materials and adverse import and export restrictions further aggravated the impact on the market. However, the market is expected to recoup soon.
The report offers a detailed segmentation on the global downstream polyethylene market based on type, technology, end use industry, and region.
Based on type, the high density polyethylene (HDPE) segment held the largest market share in 2021, garnering more than half of the global market, and is expected to maintain its leadership status during the forecast period. The medium density polyethylene (MDPE) segment, on the other hand, is expected to cite the fastest CAGR of 6.2% during the forecast period. Other segment analyzed in the report include Low density polyethylene (LDPE).
Based on technology, the films & sheet extrusion segment held the majority market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 5.8% during the forecast period. Other segments analyzed in the report include pipe extrusion, injection molding, blow molding, and others.
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Based on end use industry, the packaging segment held the dominating market share in 2021, holding more than one-third of the global market, and is expected to maintain its leadership status during the forecast period. The automotive segment, on the other hand, is predicted to cite the fastest CAGR of 6.0% during the forecast period.
Based on region, the market across Asia-Pacific region held the largest market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same region is predicted to cite the fastest CAGR of 5.7% during the forecast period. Other regions analzyed in the report include Europe, North America, and LAMEA.
The key players analyzed in the global downstream polyethylene market report include Borealis AG, Chevron Phillips Chemical Company LLC, China National Petroleum Corporation, Dow Inc., Ducor Petrochemicals, DuPont, Exxon Mobil Corporation, Formosa Plastics Corporation, U.S.A, and Ineos.
The report analyzes these key players of the global downstream polyethylene market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players of the market.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
