Cross linked polyethylene market

Cross Linked Polyethylene Market, By Product Type (HDPE, LDPE, Others), By Application (Plumbing, Wires & Cables, Automotive, Others), By Region (North America, Europe, Latin America, Asia, Middle East & Africa, Australia) -

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Feb 2023
CMI329
155 Pages
Excel & Pdf
Polymers and Resins

Summary

Polyethylene is a low-cost commodity plastic that can be reused due to its thermoplastic nature. Cross-linking of polyethylene helps enhance its thermal resistance and the end product obtained is transformed from thermoplastic to thermosetting plastic.

Driver

High density polyethylene (HDPE) segment dominated the market in 2022 according to the stats provided by Coherent Market Insights. Cross-linked HDPE is gaining traction over raw HDPE due to its thermosetting nature, high mechanical strength, and better stress crack resistance. Furthermore, cross-linked HDPE can be produced economically, and thus finds wide application in domestic and industrial plumbing services. This, in turn, is fueling the growth of the global cross linked polyethylene market, a trend that is expected to sustain over the forecast period (2023-2030)

Market Overview

Plumbing was the largest application segment in the global cross linked polyethylene market in 2022 and is expected to retain its dominance throughout the forecast period. Conventionally used plumbing materials such as copper and PVC do not perform well in high temperatures and when highly chlorinated water is transported through them over prolonged periods. This is a key and highly lucrative growth area for manufacturers of cross-linked polyethylene to exploit. Thus, various players in the market are focusing on R&D activities to deploy cross-linked polyethylene (PEX) pipes for the supply of chlorinated water and for radiant heating applications. Also, other emerging applications such as the use of PEX pipes in mining activities and solar applications are also paving way for the growth of the cross-linked polyethylene market globally.

The global cross linked polyethylene market was valued at US$ 5,323.1 million and in 2022 and is expected to expand at a CAGR of 7.47% in terms of revenue and 6.1% in terms of volume during 2023 – 2030.

Market Restraint:

If the PEX tubing exposed to sunlight, the molecular structure breakdown, which makes the piping become more fragile. It should be stored away from sunlight and needs to be protected from sunlight after installation. Exposed to sunlight may result in early tubing failure. This is why PEX is not preferred to be used in the exterior area and this is the factor which affect the growth of the cross –linked polyethylene market.

Covid-19 Analysis:

Companies who produce cross-linked polyethylene were forced to shut their production due to covid-19. The pandemic has led to the shortage of workers, and disruption of logistics in several PEX producing countries. This impacted breakage of supply chain of cross linked polyethylene market.

Figure 1. Global Cross Linked Polyethylene Market, By Application (2022)

Automotive segment is expected to be the fastest-growing application area in the global cross linked polyethylene market

Among application, the automotive segment is expected to witness the fastest growth over the forecast period. Automotive sales in China grew by 15%, in the U.S. grew by 0.2%, and in Europe 7% Y-o-Y growth in 2022 Therefore, the automotive segment is expected to drive growth of the market due to the rapid growth in the automotive industry. PEX plumbing is a type of plastic tubing made from high density polyethylene. Apart from being the newest player in the water supply line game, PEX is also used for radiant floor heating tubing.

Cross Linked Polyethylene Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 5,323.1 Mn
Historical Data for:	2017-2020	Estimated Year	2023
Forecast Period 2023 to 2030 CAGR:	7.47%	Forecast Period:	2023-2030
Geographies covered:	By Region: North America, Europe, Latin America, Asia, Middle East & Africa, Australia.
Segments covered:	By Product Type: HDPE, LDPE, Others By Application: Plumbing, Wires & Cables, Automotive, Others
Companies covered:	ExxonMobil Chemical Company, LyondellBasell Industries, 3H Vinacom Co., Hanwha Chemicals, Arkema Group, AkzoNobel N.V., Falcone Specialities AG, Borealis AG, and PolyOne Corporation.
Growth Drivers:	Cross-linked HDPE finds wide applications Low cost and can be reused
Restraints & Challenges:	PEX is not preferred to be used in the exterior area and this is the factor which affect the growth of the cross –linked polyethylene market.

Figure 2. Global Cross Linked Polyethylene Market, Market Share by Type (2022)

The industry can be divided on the basis of its type as high-density polyethylene (HDPE) and low-density polyethylene (LDPE), among others. The industry can be divided based on its processes as chemical and physical.

Regional Insights

Asia Pacific, followed by North America and Europe, accounted for a major share in the global cross linked polyethylene market both in terms of revenue and volume in 2022, and the trend is estimated to remain the same over the forecast period. In 2022, Asia Pacific held a share of 47.68% in terms of volume. The growing demand for plumbing in Asia Pacific, due to the growing population, increased urbanization, and growth in commercial sector, is expected to drive the growth of the global cross linked polyethylene market over the forecast period. According to a study conducted by Coherent Market Insights, the global plumbing market is expected to witness a CAGR of 6.3% from 2017 to 2025 which is expected to fuel the global cross linked polyethylene market. Growing urbanization and increasing construction activities especially in emerging economies of India, China and other countries in Latin America is a major factor fueling demand for effective plumbing works, subsequently fueling the growth of the cross-linked polyethylene market. For instance, as per statistics released by India Brand Equity Foundation (IBEF)—a Trust in 2022 established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian government plans to invest US$ 376.53 billion in infrastructure development over the following three years.

Multinational players

Major players in the global cross linked polyethylene market include ExxonMobil Chemical Company, LyondellBasell Industries, 3H Vinacom Co., Hanwha Chemicals, Arkema Group, AkzoNobel N.V., Falcone Specialities AG, Borealis AG, and PolyOne Corporation.

Table of Content

Table of Contents

“*” marked represents similar segmentation in other categories in the respective section.

*Browse 90 market data tables and 40 figures on "Cross linked Polyethylene Market - Global forecast to 2030”.

Segmentation

Detailed Segmentation:

Global Cross linked polyethylene Market, By Product Type:

HDPE
LDPE
Others

Global Cross Linked Polyethylene Market, By Application:

Plumbing
Wires & Cables
Automotive
Others

Global Cross Linked Polyethylene Market, By Region:

North America

U.S.

By Product Type

HDPE
LDPE

By Application

Plumbing
Wires & Cables
Automotive

Canada

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Europe

U.K.

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Germany

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Italy

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

France

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Russia

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Rest of Europe

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Asia Pacific

China

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

India

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Japan

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

ASEAN

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Australia

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

South Korea

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Rest of Asia Pacific

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Latin America

Brazil

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Mexico

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Rest of Latin America

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Middle East

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Israel

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Africa

North Africa

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

Central Africa

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

South Africa

By Product Type

HDPE
LDPE
Others

By Application

Plumbing
Wires & Cables
Automotive
Others

- Frequently Asked Questions -

What are the growth estimates for the cross linked polyethylene market till 2030?

The global cross-linked polyethylene market is estimated to surpass US$ 9.47 Billion by 2030.

Which are the prominent market players across the globe?

Major players in the market include ExxonMobil Chemical Company, LyondellBasell Industries, 3H Vinacom Co., Hanwha Chemicals, Arkema Group, AkzoNobel N.V., Falcone Specialities AG, Borealis AG, and PolyOne Corporation.

Which segment, based on product type, accounted for the highest demand in the market?

Automotive segment is expected to witness the fastest growth.

What are the key factors driving growth of the market?

Rapid growth in the automotive industry is the key factor driving the growth of market.

What will be the Compound Annual Growth Rate (CAGR) of the market for next 8 years(2023-2030)?

Is expected to expand at a CAGR of 7.47% in terms of revenue and 6.1% in terms of volume during 2023 – 2030

Which region is dominating the market growth?

Asia Pacific dominating the market growth due to the growing population, increased urbanization, and growth commercial sector, is expected to drive the growth of the market over the forecast period.