Cross Linked Polyethylene Market

Cross-linked Polyethylene Market

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The global cross-linked polyethylene market size was USD 6.23 Billion in 2022 and is likely to reach USD 12.28 Billion by 2031, expanding at a CAGR of 7.83% during 2023–2031. The market growth is attributed to the rapid expansion of the automotive and construction industry in developing regions and the rising need for plastic pipes from various industries.

Cross-linking is the process of forming covalent bonds to join two or more polymer chains together. Cross-linked polyethylene (PEX or XLPE) is an irregular crystalline structure, which is made up of durable thermoplastic. Cross-linking transforms thermoplastic into thermosetting plastic that enhances thermal resistance. It holds a high molecular weight that helps to improve the tensile strength, density, and environmental stress-cracking resistance of the polymer.

Cross Linked Polyethylene Market Outlook

Cross-linked polyethylene is light in weight and can be reused. It is widely used for tubing and pipes in the plumbing industry as a replacement for copper and PVC piping owing to its flexibility and non-corrosion property. PEX pipes act as efficient alternatives as it is not resistant to acid, salt, and moisture. Its high dielectric strength and good mechanical and chemical resistance property make it suitable for electrical insulation of medium to high voltage cables and wires.

COVID-19 Impact on Cross-linked Polyethylene Market

The market report finds that the COVID-19 pandemic affected the global cross-linked polyethylene market. The growth of the global market decreased due to a sharp decline in demand from the end-use industries, such as construction and chemicals owing to some limitations and restrictions across the globe.

Labor shortages due to preventive measures imposed by the government, such as social distancing slowed down the operation of various manufacturing units that produce PEX materials. Many manufacturing industries were temporarily shut down and a few companies have already announced possible delays in the delivery of raw materials due to lockdowns and transportation bans across the globe, which hampered the overall revenue generation of the global cross-linked polyethylene market during the COVID-19 pandemic.

Cross-linked Polyethylene Market Dynamics

The research report provides a complete overview by providing detailed information and by focusing on the growth and historic data to determine the key market trends, major drivers, existing restraints, growing opportunities and potentials, and emerging challenges. The global cross-linked polyethylene market report has up-to-date insights about the market scenarios that can help in shaping the overall performance and output of the market during the forecast period, 2023 to 2031.

Cross Linked Polyethylene Market Dynamics

Drivers

Growing Automobile Industries at a Rapid Pace

The rapid expansion of the automobile industry across the globe is a major factor driving the growth of the global cross-linked polyethylene market. PEX is widely used in the manufacturing of automobile parts and components due to its flexibility and high resistance to corrosion. It provides mechanical strength that enhanced the life of the vehicles. Thus, growing automobile industries at a rapid pace demand for PEX, which drive the global market growth in the coming years.

Rising Construction and Plumbing Activities Across the Globe

Rising construction and plumbing activities across the globe are other major factors driving the global market growth during the forecast period. PEX pipes offer flexibility compared to galvanized steel or metal pipes. It eliminates the need for elbows as it is easy to bend, which reduces the number of accessories. Growing demand from various end-use industries, such as the chemical, mining, and solar industry demands for PEX piping rather than PVC piping, which fuels the market growth.

Restraints 

Safety Issues Regarding Plumbing Applications

Safety issues regarding plumbing applications hinder the global market growth at a certain limit in the coming years. PEX pipes cannot be preferred in applications that are exposed to sunlight. The molecular structure of PEX breaks down due to the sunlight, which easily ruptures the pipes. Therefore, it cannot be installed in high-heat areas as it is extremely sensitive to UV lights.

Fluctuation in Raw Material Cost

Raw materials prices increase at a rapid pace, due to this, vendors increase product costs and reduce profit margin to the manufacturers. Continuous rise and fall in raw material prices disrupted the supply chain. Thus, fluctuation in raw material prices adversely hampers the growth of the global cross-linked polyethylene market during the assessment period.

Opportunities

Increasing Demand for Cross-linked HDPE

Increasing demand for high-density polyethylene (HDPE) in various applications creates immense opportunities for the market players. Cross-linked HDPE offers high tensile strength and has excellent insulation properties compared to low-density polyethylene (LDPE), which is beneficial to produce pipes, tubes, cables, and wires. Thus, the widespread use of pipes, cables, and wires leads to accelerates the growth of the market during the projected period.

Growing Availability of Other Sustainable Alternatives along with Technological Advancement

Growing availability of other sustainable alternatives gives opportunities to the market players competing in the market. Recycling content reduced environmental impact which leads to motivating manufacturers to opt for recyclable materials. Furthermore, market players are focusing on reducing costs by improving the properties of PEX materials. Thus, rising technological advancement accelerates the growth of the global market in the coming years.

Scope of Cross-linked Polyethylene Market Report

The cross-linked polyethylene market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Cross-linked Polyethylene Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016-2021

Forecast Period

2023–2031

Segmentation

Product Type (Low-density Polyethylene, Medium Density Polyethylene, and High-density Polyethylene), Technology (Peroxide, Silane Grafting, and Electron Beam Processing), Process (Physical and Chemical), Application (Automotive, Chemical Industry, Medical appliances, Plumbing, Wires & Cables, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Cross-linked Polyethylene Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

3H VINACOM CO., LTD; Arkema; AVIENT (PolyOne Corporation); Borealis AG; Charloma, Inc.; Dow (Dow Chemical Company); Exxon Mobil Corporation; Falcone Specialities AG; Hanwha Solutions Chemical Division Corporation; HDC HYUNDAI EP COMPANY; LyondellBasell Industries Holdings B.V.; Polylink Polymers (India) Ltd.; R.T. Vanderbilt Holding Company, Inc.; Saco AEI Polymers; Sankhla Plolymers; SILON; Solvay; THE CHEMICAL COMPANY; and Zimmer Biomet

Cross-linked Polyethylene Market Segment Insights

Why is High-Density Polyethylene Segment More Prevalent than Medium Density Polyethylene?

Based on product type, the global cross-linked polyethylene market is divided into low-density polyethylene, medium-density polyethylene, and high-density polyethylene. The high-density polyethylene segment held a key share of the market and is expected to expand at a significant growth rate during the projected period due to its high mechanical strength and can recycle. Rising plumbing activities in the domestic and industrial sectors demand for high-density polyethylene, which fuels the global market growth.

The medium-density polyethylene segment is anticipated to hold a key share of the market in the coming years owing to its wide application in medical devices. Growing healthcare sector and rising adoption of various medical devices demands for medium-density polyethylene. However, low-density polyethylene is expected to expand at a rapid pace due to its wide applications in wires & cables owing to its good electrical properties.

Cross Linked Polyethylene Market Product Type

What are Main Aspects for Boosting the Technology Segment?

On the basis of technology, the global cross-linked polyethylene market is fragmented into peroxide, silane grafting, and electron beam processing. The peroxide segment is projected to register a considerable CAGR during the forecast period due to its various superior advantages. It offers good processability, high breakdown strength, and low dielectric loss, which is suitable for diverse industrial applications. It improves efficiency and flexibility. Thus, the rising demand for flexible pipes in plumbing applications encouraged manufacturers to adopt peroxide technology, which boosts the global market growth.

On the other hand, the silane grafting segment is anticipated to account for a major market share in the coming years due to low costs and ease of the process, which reduces the operation cost. It allows crosslink in ambient temperature without moisture content. Growing demand for cost-effective technology drives the growth of the global market.

What Key Factors Contribute to Rapid Expansion of the Process Segment?

Based on the process, the global cross-linked polyethylene market is bifurcated into physical and chemical. The chemical segment is anticipated to generate a revenue share of the market during the assessment period. Chemical cross-linking is the intermolecular joining of two or more molecules through a covalent bond. It offers high strength and durability. Rising demand for durable PEX products from various industries boosts global market growth.

The physical segment is expected to contribute to segment growth in the coming years due to its wide applications in the medical industry. Physical cross-linking is the process of joining molecules through a weak reaction, which is widely used for the implantation of prostheses in body parts.

How is Application Segment Generating More Revenue Share in Cross-linked Polyethylene Market?

On the basis of application, the global market is segregated into the automotive, chemical industry, medical appliances, plumbing, wires & cables, and others. The wires & cables segment accounted for a large market share in 2021 and is expected to hold a market share in the coming years. Cross-linking offers dielectric property, which is suitable for medium to high voltage ranges. The growing requirement for electric power transmission and distribution equipment due to the rapid expansion of power distribution lines leads to driving the growth of the global cross-linked polyethylene market.

The plumbing segment is estimated to generate a major share of the market during the projected period. PEX pipes perform well compared to traditional materials. PVC pipes and copper pipes do not perform in high temperatures. Thus, rising demand for PEX due to its flexibility leads to accelerate the global market growth.

Cross Linked Polyethylene Market Application

Why is Demand for PEX High in Asia Pacific?

In terms of region, the global cross-linked polyethylene market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projected period. Growing power industries and automobile industries within the region demand for PEX in the wires & cables, and automotive applications.

Rising urbanization in the developing countries of the region highly demands for PEX pipes due to increasing construction and plumbing activities. Furthermore, rising government initiatives to produce green & clean energy projects and expansion of chemical industries demand for the PEX pipes and wires & cables, which accelerates the regional growth of the global cross-linked polyethylene market.

The market of North America is anticipated to expand at a rapid pace during the forecast period owing to the developed sewerage and water transmission systems present in the region. The rising development of parallel plumbing systems demands for PEX piping due to its flexibility, which fuels the growth of the global market in the coming years.

Cross Linked Polyethylene Market Region

Segments

The global cross-linked polyethylene market has been segmented on the basis of

Product Type

  • Low-density Polyethylene
  • Medium Density Polyethylene
  • High-density Polyethylene

Technology

  • Peroxide
  • Silane Grafting
  • Electron Beam Processing

Process

  • Physical
  • Chemical

Application

  • Automotive
  • Chemical Industry
  • Medical appliances
  • Plumbing
  • Wires & Cables
  • Others

Region

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • 3H VINACOM CO., LTD
  • Arkema
  • AVIENT (PolyOne Corporation)
  • Borealis AG
  • Charloma, Inc.
  • Dow (Dow Chemical Company)
  • Exxon Mobil Corporation
  • Falcone Specialities AG
  • Hanwha Solutions Chemical Division Corporation
  • HDC HYUNDAI EP COMPANY
  • LyondellBasell Industries Holdings B.V.
  • Polylink Polymers (India) Ltd.
  • R.T. Vanderbilt Holding Company, Inc.
  • Saco AEI Polymers
  • Sankhla Plolymers
  • SILON
  • Solvay
  • THE CHEMICAL COMPANY
  • Zimmer Biomet

Competitive Landscape

The competitive landscape of the global cross-linked polyethylene market report provides key insights into the growth strategies and development initiatives implemented by the key players in the market.

Key players competing in the global cross-linked polyethylene market are 3H VINACOM CO., LTD; Arkema; AVIENT (PolyOne Corporation); Borealis AG; Charloma, Inc.; Dow (Dow Chemical Company); Exxon Mobil Corporation; Falcone Specialities AG; Hanwha Solutions Chemical Division Corporation; HDC HYUNDAI EP COMPANY; LyondellBasell Industries Holdings B.V.; Polylink Polymers (India) Ltd.; R.T. Vanderbilt Holding Company, Inc.; Saco AEI Polymers; Sankhla Plolymers; SILON; Solvay; THE CHEMICAL COMPANY; and Zimmer Biomet.

Some of these major companies adopted various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share. For instance,

  • On November 3, 2022, Borealis AG (a leader in innovative polyolefins-based solutions) offers a portfolio of polyethylene resins for the compounding and polymer modification industries. This portfolio includes high-density polyethylene, low-density polyethylene, and linear low-density polyethylene. These resins are suitable for the manufacturing of flexible applications having high thermal stability.

  • On November 1, 2022, Dow entered into a business agreement with ByFusion. This agreement continues their collaboration to divert the hard-to-recycle plastics from the landfill of the greater Boise area.

  • On June 20, 2022, AVIENT highlighted its portfolio at the Wire 2022 Trade Fair in Dusseldorf. This portfolio includes specialty solutions for wire and cable applications and recently launched Colorant Chromatics UV Laser Marking Solutions for fluorinated ethylene propylene.

Cross Linked Polyethylene Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cross-linked Polyethylene Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Cross-linked Polyethylene Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Cross-linked Polyethylene Market - Supply Chain
  4.5. Global Cross-linked Polyethylene Market Forecast
     4.5.1. Cross-linked Polyethylene Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Cross-linked Polyethylene Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Cross-linked Polyethylene Market Absolute $ Opportunity
5. Global Cross-linked Polyethylene Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Cross-linked Polyethylene Market Size and Volume Forecast by Applications
     5.3.1. Automotive
     5.3.2. Chemical Industry
     5.3.3. Medical appliances
     5.3.4. Plumbing
     5.3.5. Wires & Cables
     5.3.6. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Cross-linked Polyethylene Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Cross-linked Polyethylene Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Cross-linked Polyethylene Demand Share Forecast, 2019-2026
7. North America Cross-linked Polyethylene Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Cross-linked Polyethylene Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Cross-linked Polyethylene Market Size and Volume Forecast by Applications
     7.4.1. Automotive
     7.4.2. Chemical Industry
     7.4.3. Medical appliances
     7.4.4. Plumbing
     7.4.5. Wires & Cables
     7.4.6. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Cross-linked Polyethylene Demand Share Forecast, 2019-2026
8. Latin America Cross-linked Polyethylene Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Cross-linked Polyethylene Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Cross-linked Polyethylene Market Size and Volume Forecast by Applications
     8.4.1. Automotive
     8.4.2. Chemical Industry
     8.4.3. Medical appliances
     8.4.4. Plumbing
     8.4.5. Wires & Cables
     8.4.6. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Cross-linked Polyethylene Demand Share Forecast, 2019-2026
9. Europe Cross-linked Polyethylene Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Cross-linked Polyethylene Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Cross-linked Polyethylene Market Size and Volume Forecast by Applications
     9.4.1. Automotive
     9.4.2. Chemical Industry
     9.4.3. Medical appliances
     9.4.4. Plumbing
     9.4.5. Wires & Cables
     9.4.6. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Cross-linked Polyethylene Demand Share Forecast, 2019-2026
10. Asia Pacific Cross-linked Polyethylene Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Cross-linked Polyethylene Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Cross-linked Polyethylene Market Size and Volume Forecast by Applications
     10.4.1. Automotive
     10.4.2. Chemical Industry
     10.4.3. Medical appliances
     10.4.4. Plumbing
     10.4.5. Wires & Cables
     10.4.6. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Cross-linked Polyethylene Demand Share Forecast, 2019-2026
11. Middle East & Africa Cross-linked Polyethylene Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Cross-linked Polyethylene Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Cross-linked Polyethylene Market Size and Volume Forecast by Applications
     11.4.1. Automotive
     11.4.2. Chemical Industry
     11.4.3. Medical appliances
     11.4.4. Plumbing
     11.4.5. Wires & Cables
     11.4.6. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Cross-linked Polyethylene Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Cross-linked Polyethylene Market: Market Share Analysis
  12.2. Cross-linked Polyethylene Distributors and Customers
  12.3. Cross-linked Polyethylene Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. 3H VINACOM CO., LTD
     12.4.2. Arkema
     12.4.3. AVIENT (PolyOne Corporation)
     12.4.4. Borealis AG
     12.4.5. Charloma, Inc.
     12.4.6. Dow (Dow Chemical Company)
     12.4.7. Exxon Mobil Corporation
     12.4.8. Falcone Specialities AG
     12.4.9. Hanwha Solutions Chemical Division Corporation
     12.4.10. HDC HYUNDAI EP COMPANY
     12.4.11. LyondellBasell Industries Holdings B.V.
     12.4.12. Polylink Polymers (India) Ltd.
     12.4.13. R.T. Vanderbilt Holding Company, Inc.
     12.4.14. Saco AEI Polymers
     12.4.15. Sankhla Plolymers
     12.4.16. SILON
     12.4.17. Solvay
     12.4.18. THE CHEMICAL COMPANY
     12.4.19. Zimmer Biomet

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FAQ Section

Some frequently asked questions about this report!

The global cross-linked polyethylene market is driven by the growing automobile industries at a rapid pace and rising plumbing activities across the globe.

Product type, technology, process, and application are the major segments provided in the global cross-linked polyethylene market report.

The global cross-linked polyethylene market size was USD 6.23 Billion in 2022 and is likely to reach USD 12.28 Billion by 2031, expanding at a CAGR of 7.83% during 2023–2031.

Asia Pacific is anticipated to dominate the global cross-linked polyethylene market during the projected period.

3H VINACOM CO., LTD; Arkema; AVIENT (PolyOne Corporation); Borealis AG; Charloma, Inc.; Dow (Dow Chemical Company); Exxon Mobil Corporation; Falcone Specialities AG; Hanwha Solutions Chemical Division Corporation; HDC HYUNDAI EP COMPANY; and LyondellBasell Industries Holdings B.V. are some key players competing in the global cross-linked polyethylene market.