Polyethylene Market Size to Grow USD 142120 Million by 2029 at a CAGR of 2.5% | Valuates Reports
BANGALORE, India, Oct. 17, 2023 /PRNewswire/ -- The Global Polyethylene Market Is Segmented by Type (HDPE, LLDPE, LDPE, Others), by Application (Packaging, Consumer Goods, Construction Materials, Others): Global Opportunity Analysis And Industry Forecast, 2023-2029.
Polyethylene market is projected to reach USD 142120 million in 2029, increasing from USD 119310 million in 2022, with a CAGR of 2.5% during the period of 2023 to 2029.
Major Factors Driving the Growth of Polyethylene Market:
The strength and durability that polyethylene provides make it the most popular material in the packaging business, which increases demand for polyethylene across the world. The worldwide polyethylene market is anticipated to increase rapidly due to the product's accessibility and affordability. Additionally, the polyethylene industry is growing as a result of a number of characteristics, including its low cost, ease of processing, and recyclability. Increasing demand for polyethylene in the pharmaceutical, electronics, and automotive sectors is also anticipated to fuel market expansion over the forecast period.
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TRENDS INFLUENCING THE GROWTH OF THE POLYETHYLENE MARKET
PE packaging aids in preventing food contamination during all phases of transportation, from the farm to the table. Food waste may be decreased by using plastic packaging, which has been shown to increase the shelf life of perishable items such as fresh fruits, vegetables, and meats. Modified atmosphere packaging, which enables the container to deliver a reduced-oxygen air combination that better preserves food, is one method for doing this. The adaptability of polyethylene packaging for a wide range of package sizes or kinds, as well as its puncture resistance, sterility, and lightweight, are further advantages. HDPE polymers are used in the production of bottles and other containers using the blow molding and thermoforming processes.
PE is essential to healthcare at numerous points during the patient experience. In addition, PE is more chemically compatible than the majority of other materials and is resistant to powerful acids and bases as well as mild oxidizers and reducing agents. Particularly, HDPE is resistant to a variety of organic contaminants, including bacteria and fungus. The hygienic features of multilayer film allow it to have a biological layer or agents that prevent germs and other impurities from accessing the surface while the transition from monolayer to multilayer film proceeds. PE products enable medical staff and patients to work and live in a sterile and safe environment, from the resilient and simple-to-clean waiting room furniture to the flexible packaging safeguarding the doctor's medical gadgets.
Polyethylene furniture has a number of hygienic benefits, including the absence of pores where dirt or pathogens might accumulate. Additionally, they are chemically resistant to body oils and cleaning agents, which lowers the chance of infection and lengthens life. Health professionals can utilize medical equipment that constantly complies with stringent sanitary regulations thanks to polyethylene goods. For instance, PE film packaging, which is frequently used in products like sterile syringes, bottles, vials, bags, and pouches, protects reusable healthcare equipment from harm and contamination. Healthcare providers frequently buy huge quantities of flexible packaging, such as shrink wrap, stretch film, and plastic bags, as secondary or tertiary packaging choices to sterilization wrap. Frequently composed of polyethylene and then recycled, this kind of packaging.
Although plastics like polyethylene are important in healthcare settings, customers also profit from plastic in over-the-counter medicines. Many common personal products like saline bottles, prescription bottles, and single-use bandages are bought in the pharmacy department. Due to its resilience to strong chemicals, HDPE is frequently used to create bottles for domestic cleaning products. By enhancing durability and dependable sterilization, polyethylene and polyethylene manufacturers will play a significant role in the packaging of consumables, personal care items, and healthcare facilities as customers continue to change their hygiene practices and sanitation expectations.
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POLYETHYLENE MARKET SHARE ANALYSIS:
Turtle Wax, DowDuPont, Exxon Mobil Corporation, and others are some of the key companies operating in the worldwide polyethylene industry.
The largest markets, accounting for nearly 50% of the worldwide market, are Asia and the Middle East.
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Key Companies:
- Turtle Wax
- DowDuPont
- Exxon Mobil Corporation
- LyondellBasell
- SABIC
- Sinopec Corporation
- BP
- INEOS
- Borealis AG
- Total
- Shell
- National Iranian Oil Company (NIOC)
- TASCO Group
- Ente Nazionale Idrocarburi (ENI)
- CNPC
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SIMILAR REPORTS
- The global Polyethylene Wax Lubricant market is projected to reach USD 1352.9 million in 2029, increasing from USD 1100 million in 2022, with the CAGR of 3.0% during the period of 2023 to 2029.
- 1-Hexene based Polyethylene Market
- Polyethylene Silage Film Market
- The global Linear Low-Density Polyethylene market is projected to grow from USD 49980 million in 2023 to USD 60030 million by 2029, at a Compound Annual Growth Rate (CAGR) of 3.1% during the forecast period.
- The global High and Ultra High Molecular Weight Polyethylene market is projected to grow from USD 1017.1 million in 2023 to USD 1301.8 million by 2029, at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period.
- The global Polyethylene Pipes & Fittings market was valued at USD 30470 million in 2022 and is anticipated to reach USD 43340 million by 2029, witnessing a CAGR of 5.1% during the forecast period 2023-2029.
- The global Ultra High Molecular Weight Polyethylene Fiber market is projected to grow from USD 1017.1 million in 2023 to USD 1301.8 million by 2029, at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period.
- High Density Polyethylene (HDPE) Tubing Market
- Post Consumer Polyethylene Industry
- Ultra High Molecular Weight Polyethylene (UHMWPE) Sales Market
- Crosslinked Polyethylene (PEX) Market
- Industrial Metallocene Linear Low-density Polyethylene (mLLDPE) Market
- The global Metallocene Polypropylene market is projected to grow from USD 768.2 million in 2023 to USD 1006.2 million by 2029, at a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period.
- Metallocene Linear Low-density Polyethylene (mLLDPE) Market
- The global Metallocene Catalyst market size was USD 347.1 million and it is expected to reach USD 441 million by the end of 2027, with a CAGR of 3.4% during 2021-2027.
- The global High and Ultra High Molecular Weight Polyethylene market is projected to grow from USD 1017.1 million in 2023 to USD 1301.8 million by 2029, at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period.
- The global PE Film market was valued at USD 17850 million in 2022 and is anticipated to reach USD 23240 million by 2029, witnessing a CAGR of 3.9% during the forecast period 2023-2029.
- The global Flexible Packaging market was valued at USD 214120 million in 2022 and is anticipated to reach USD 289000 million by 2029, witnessing a CAGR of 3.9% during the forecast period 2023-2029.
- Polypropylene Compounds Market
- The global Ethylene Carbonate (EC) market size is estimated to be worth USD 308.5 million in 2022 and is forecast to a readjusted size of USD 506.1 million by 2028 with a CAGR of 8.6% during the review period.
- Ethanol-based Polyethylene Market
- The global Bio-based Polyethylene market was valued at USD 1031 million in 2022 and is anticipated to reach USD 3531.4 million by 2029, witnessing a CAGR of 19.0% during the forecast period 2023-2029.
- The global Chlorinated Polyethylene market was valued at USD 434.2 million in 2022 and is anticipated to reach USD 594.4 million by 2029, witnessing a CAGR of 4.5% during the forecast period 2023-2029.
- The global Medical Ultra High Molecular Weight Polyethylene market size was USD 56 million and it is expected to reach USD 103.2 million by the end of 2027, with a CAGR of 8.7% during 2021-2027.
- Cellular Polyethylene Market
- The global HMPE (High Modulus Polyethylene) Ropes market is projected to grow from USD 295.6 million in 2023 to USD 509.6 million by 2029, at a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period.
- Renewable Polyethylene Market
- Low Density Polyethylene Tubing Market
- The global Polyethylene Oxide (PEO) market size is estimated to be worth USD 260 million in 2022 and is forecast to a readjusted size of USD 298 million by 2028 with a CAGR of 2.3% during the review period.
- The Polymethyl Methacrylate market was valued at USD 4752.2 million in 2022, and it is anticipated to reach USD 6589.9 million by 2028, registering a CAGR of about 5.6% during the forecast period (2022–2028).
- The global Medical PMMA market size is expected to grow at a CAGR of 4.1% during the forecast period.
- Antiseptic and Disinfectant Market size is about 46 Billion in 2021, growing at a CAGR of 6.3%.
- The global Quaternary Ammonium Compounds market was valued at USD 1178.6 million in 2022 and is anticipated to reach USD 1545.5 million by 2029, witnessing a CAGR of 4.3% during the forecast period 2023-2029.
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