What is the future of Cross-Linked Polyethylene Market? Know Covid Impact on Size, Share & Forecasts
June 19, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Cross-Linked Polyethylene Market.
It was estimated prior to this unanticipated outbreak that the Cross-Linked Polyethylene Market was expected to grow at a CAGR of 8.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Cross-linked Polyethylene is mainly a polyethylene form that has cross-links. It is used in a wide number of places such as hydronic systems, pipework systems, electrical cables, and many others.
Cross-linked Polyethylene is available in different types such as high-density polyethylene, low-density polyethylene, and others. PEXA, PEXB, and PEXC are the technology types of the cross-linked polyethylene.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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.
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.
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.
In terms of regions, Asia-Pacific is estimated to be large and fast 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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Cross-Linked Polyethylene Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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