Cross-Linked Polyethylene Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1738
Cross-Linked Polyethylene Market size is expected to witness significant growth owing to increasing demand for plastic pipes in solar industry. Easy installation, flexibility and low cost of cross-linked polyethylene will drive the industry.
Increase in construction activity for sustaining the growing population is surging demand for (PEX) cross-linked polyethylene market. Extensive use of PEX pipes for potable water distribution has led to increased share of the product in plumbing industry, which is fuelling cross-linked polyethylene market.
Growing usage of plastic pipes in solar industry and significant growth of automotive industry will further propel the product penetration. Besides, PEX pipes are gaining popularity over conventional copper tubes for plumbing which is enhancing the growth of cross-linked polyethylene market. These pipes offer several beneficial properties including inexpensive relative to PVC pipes, holds water pressure at fixtures, flexibility during installation for residential water distribution system and offers greater resistance to fire & corrosion.
Moreover, widespread applications in end-use industries including insulation, consumer goods, medical and packaging. Increase in use of these products in chemical storage tanks and electrical tubing will reinforce the market size. Safety issues regarding pipes and plumbing failure may restrict the cross-linked polyethylene market growth.
Cross-linked polyethylene is thermoplastic in nature which is processed at high temperature (150ºC to 220ºC). It cannot be processed repeatedly owing to its thermoplastic nature, hence crosslinking is required for retaining its desirable characteristics. Crosslinking changes polyethylene nature from thermoplastic to thermoset, making it more durable. The process improves its abrasion & environmental stress cracking resistance, and impact strength of the polymer.
The product is available in several types including, high density, low density, ethylene vinyl acetate, polyolefenic elastomer and linear low-density polyethylene. Among them, high density polyethylene (HDPE) holds the largest market share compared to other polymers. The HDPE provides resistance to corrosion, stress, abrasion & cracks and high tensile strength owing to its intensive cross-linking.
Cross-linked polyethylene is used in various applications including, plumbing, wires & cables, tubing, medical, dental, ground keeping, sports and automotive. Automotive segment is the fastest growing application in cross-linked polyethylene market. The product is used in the manufacturing of battery cables for power distribution & transmission channels and automobile parts is driving the industry. Plumbing holds the major industry share due to its wide usage in construction of water transmission and sewer systems.
North America is the leading cross-linked polyethylene market and will witness the same trend due to rising construction of industrial and residential buildings. Well-developed water transmission and sewer systems in the region mainly demands polymer steams which will stimulate product demand.
Europe cross-linked polyethylene market is anticipated to witness a moderate growth owing to well-developed infrastructure. Subsequently, low grade and inferior used materials in water distribution and plumbing systems will upsurge the demand for product in the region. Further, its high-tech automotive industry will boost the industry size.
Asia-Pacific is the fastest evolving region for cross-linked polyethylene market due to its strong base in construction industry. Change in production capacity in emerging economies and increasing automobile sector in the region will strengthen the market size. China and India are rapidly urbanizing and modernizing their public infrastructure which includes water distribution and sewerage systems, thus propelling.
Global cross-linked polyethylene market is fragmented due to wide presence of several regional and international players across the globe. Key industry players are ExxonMobil, Dow Chemical Company, Borealis, PolyOne, AkzoNobel, Arkema, 3H Vinacom and Hanwha Chemical. Several other participants who have marked their presence are Falocne Specialities, Hyundai EP, Kkalpana, Kanoo, Polylink Polymers, Saco Polymers, Silon, Lyondellbasell, Polyone, Vanderbilt Chemicals and Zimmer.
Companies are adopting various strategies including, merger, acquisition and new product launch to capture the industry. In 2016, Polyone, one of the leading manufacturer of advanced and specialized polymer materials, acquired Gordon Composites and Polystrand. This acquisition will create a new platform within speciality engineered materials and will also, accelerate the product development and service to their existing as well as new customers.
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