Cross-Linked Polyethylene Market to experience an impressive growth of 8.2% during 2020-2025
January 30, 2020
Cross-Linked Polyethylene Market is likely to witness an impressive CAGR of 8.2% during the forecast period. The major drivers contributing to the growth of the PEX market are the automotive and the construction industries in APAC, mainly in India, China, Japan, South Korea, and the Southeast Asian countries.
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Cross-Linked Polyethylene Market Segment Insights:
By Type:
Based on the type, the market is segmented as High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), and others. The HDPE segment is estimated to lead the market during the forecast period. This growth is attributed to the remarkable combination of properties, which enable HDPE as the ideal material for diverse applications in various industries. The growing demand for products manufactured by using HDPE, owing to the high growth in the construction industry and improved investments in the industrial and public infrastructure in the developing regions of APAC, Europe, North America, South America, and the Middle East & Africa is likely to boost the demand for PEX during the forecast period.
By Technology Type:
Based on the technology type, the market is segmented as PEXA, PEXB, and PEXC. PEXA is estimated to be the largest technology type of the market during the forecast period. This technology segment is estimated to dominate the market in 2019. It is the most commonly used technology for the production of PEX, offering the highest and the most uniform degree of cross-linking. The advantages of this technology, such as increased resistance to stress cracking, good weatherability, improved chemical resistance, and excellent degradation stability are an important consideration for cable insulation and pipe applications, thereby, stimulating the demand for this technology.
By Application Type:
Based on the application type, the market is segmented as wires & cables, plumbing, automotive, and others. Wires & cables is estimated to be the largest application type of PEX, and is likely to lead the PEX market during the forecast period. PEX is extensively used as electrical insulation in power cables of all voltage ranges, though it is more suited for low and medium voltage applications. On account of this, the segment is expected to drive the PEX market in the coming five years.
By Region:
In terms of regions, Asia-Pacific is estimated to be the largest and fastest-growing PEX market during the forecast period. The market is driven by the region’s rapid industrialization and expanding transmission & distribution lines in the electrical & communication industry, thereby, bolstering the demand for PEX-based wires & cables. Further, the extensive use of XLPE wires in automotive battery cables, wire & cable coating layer, motors, and other high-voltage resistance materials in the Asia-Pacific region is also boosting the PEX market. In addition, the rising residential and non-residential infrastructures in this region are contributing to the construction of pipelines and tubing, which is underpinning the PEX market in the plumbing application. North America and Europe are also expected to offer substantial growth opportunities in the coming five years.
Key Players:
Some of the major players in the cross-linked polyethylene market are Borealis AG, Charloma Inc., 3H Vinacom Co., Ltd., Solvay S.A, Falcone Specialties AG, HDC Hyundai EP, Hanwha Chemical Corporation, Exxonmobil Corporation, Polylink Polymers (India) Ltd., and Zhejiang Wanma Macromolecule Material Co., Ltd.
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