The global polyethylene market is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising demand for packaged goods in emerging economies.
Polyethylene is manufactured from polymerization of ethylene and exhibits properties such as flexibility, thermal and electrical insulation, and chemical and thermal resistivity. Polyethylene is one of the basic chemical materials used in everyday life. The polymer is light in weight, easy to manufacture, and is availed easily. This has proliferated the applications of polyethylene in various industries such as packaging and construction.
The thermoplastic polymer offers high ductility and impact strength. It is extensively used for the manufacturing of shopping bags, food wraps, detergent bottles, and automobile fuel tanks. The recent technological advancements in the market has led to manufacturing of polyethylene from feedstock derived through unconventional sources such as coal, shale gas, and bio-based materials. This factor is expected to ensure raw material availability during the forecast period.
The report on the global polyethylene market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Polyethylene Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Grades (Ultra-low-molecular-weight polyethylene (ULMWPE), High-density cross-linked polyethylene (HDXLPE), Ultra-high-molecular-weight polyethylene (UHMWPE), High-molecular-weight polyethylene (HMWPE), chlorinated polyethylene (CPE), Cross-linked polyethylene (PEX), Low-density polyethylene (LDPE), Linear low-density polyethylene (LLDPE), Very-low-density polyethylene (VLDPE), Medium-density polyethylene (MDPE), and High-density polyethylene (HDPE)) and Applications (Packaging and Toys, Cable Coverings, Buckets, Lids, Containers bottles, and Films & Membrane Manufacture) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
The Dow Chemical Co., Lone Star Chemical, BASF, Chevron Phillips Chemical Co., Formosa Plastics, Huntsman, Ineos Olefins & Polymers, LyondellBasell, Reliance Industries, and SABIC |
On the basis of grades, the market is bifurcated into ultra-low-molecular-weight polyethylene (ULMWPE), high-density cross-linked polyethylene (HDXLPE), ultra-high-molecular-weight polyethylene (UHMWPE), high-molecular-weight polyethylene (HMWPE), chlorinated polyethylene (CPE), cross-linked polyethylene (PEX), low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), very-low-density polyethylene (VLDPE), medium-density polyethylene (MDPE), and high-density polyethylene (HDPE).
The high-density polyethylene (HDPE) segment is expected to represent a considerable market share during the forecast period. Low manufacturing cost, high strength to density ratio, and high temperature resistance are the key factors that are expected to boost the grade demand in the coming years. The physical properties of HDPE depend upon the process of molding used during the manufacturing process. HDPE is highly resistant to a wide range of solvents and can be used to product products such as ballistic plates, bottle caps, boats, chemical resistant piping, and food storage containers.
The low-density polyethylene (LDPE) segment is projected to expand at a healthy CAGR during the forecast period. LDPE is extensively used in packaging owing to its properties such as lightweight, flexibility, softness, and chemical resistance. Increasing demand for lightweight packaging in industries such as electronics, healthcare and food & beverages is projected to fuel the LDPE segment growth during the forecast period.
Based on applications, the market is segmented into packaging and toys, cable coverings, buckets, lids, containers bottles, and films & membrane manufacture. The packaging segment is expected to constitute a significant market share during the forecast period. Increasing use of polyethylene in packaging of various products across several industries and rising e-commerce activities in emerging economies are driving the segment growth.
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is projected to account for a large market share during the forecast period. Rapid industrialization and changing lifestyle of consumers is driving the regional market growth. Additionally, the trend of online shopping in emerging economies such as India and China is expected to further boost the product demand in this region.
For Instance, the market in India is anticipated to expand at a healthy growth rate during the polyethylene market owing to the introduction of several government initiatives such as “Make in India” to boost the growth of the manufacturing industry. This encourages foreign market players to set up manufacturing facilities in India, taking advantage of a large consumer base, economical price of land, and low cost of labor
The global polyethylene market has been segmented on the basis of
Some of the key players in the global polyethylene market are The Dow Chemical Co., Lone Star Chemical, BASF, Chevron Phillips Chemical Co., Formosa Plastics, Huntsman, Ineos Olefins & Polymers, LyondellBasell, Reliance Industries, and SABIC.
Companies are focusing on product innovation to acquire a large consumer base. They are also focusing on various business strategies such as joint ventures to improve their market presence.
Some other reports from this category!