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Polyethylene Market Worth $157 Billion By 2030, at CAGR of 4.2%: IndustryARC

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IndustryARC

20 Mar, 2023, 14:01 GMT

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HYDERABAD, India, March 20, 2023 /PRNewswire/ -- According to the latest market research report on the Polyethylene Market, published by IndustryARC, Low-Density Polyethylene (LDPE) is estimated to experience the fastest CAGR of 5.3% during the forecast period of 2023-2030. LDPE segmentation is becoming increasingly relevant in the polyethylene market due to its versatile properties, which include flexibility, durability, heat resistance, and low cost.

The Polyethylene Market research report segmented By Type [(Low-Density Polyethylene (LDPE), Medium Density Polyethylene (MDPE), High Density Polyethylene (HDPE), Linear Low-Density Polyethylene (LLDPE), Ultra-low-density polyethylene (ULDPE), High-molecular-weight polyethylene (HMWPE), Metallocene polyethylene (mPE), Chlorinated polyethylene (CPE), Ultra-high-molecular-weight polyethylene (UHMWPE), Cross-linked polyethylene], By Manufacturing Technology (Extrusion Blow Molding, Compression Molding, Plastic Injection Molding, Reaction Injection Molding, Rotational Molding, Thermoforming, Vacuum Casting, Others),  By Application (Films & Sheets, Pipe, Hoses & Fittings, Extrusion Coatings, Wires and Cables, Trash & Grocery Bags, Toys, Medical Equipment, Household Items, Packaging & Containers, Bottles, Others), By End Use Industry (Food & Beverage, Electrical & Electronics, Automotive, Building & Construction, Health & Hygiene, Agriculture, Textile, Consumer, Chemical, Pharmaceutical, Healthcare, Aerospace & Defence, Sports, Information Technology (IT), Furniture, Others) and By Geography, which provides comprehensive analysis of global market & industry forecast (2023 - 2030).

Request Sample Research Report: https://www.industryarc.com/pdfdownload.php?id=16134

Europe Anticipated to Show the Fastest Growth in the Market:

Europe is estimated to be the fastest-growing region in Polyethylene Market owing to the rising demand from the automotive sector for polythene products. Polyethylene is the most popular polymer used in automotive owing to its properties such as low density, good heat resistance, electrical insulation, and corrosion inhibition.

Increasing demand for consumer products owing to the increased disposable incomes, increase in population and shifting consumer preferences also drives the market growth. As per the Plastic Europe report, in Europe, the production of plastics has increased to 57.2 million tonnes with which polyethylene accounts for 9.3% of HDPE and 14.7% of LDPE in 2021.

Polyethylene Market 2023-2030: Scope of the Report

Report Metric

Details

Base Year Considered

2022

Forecast Period

2023–2030

CAGR

4.2 %

Market Size in 2030

$157 billion

Segments Covered

Type, Manufacturing Technology, Application, End-Use Industry and Region

Geographies Covered

North America (the US, Canada and Mexico), Europe
(Germany, France, the UK, Italy, Spain, Russia and the Rest
of Europe), Asia-Pacific (China, Japan, South Korea, India,
Australia & New Zealand and the Rest of Asia-Pacific), South
America (Brazil, Argentina, Chile, Colombia and the Rest of
South America), the Rest of the World (the Middle East and Africa).

Key Market Players

1.  SABIC

2.  ExxonMobil Corporation

3.  LyondellBasell Industries N.V.

4.  Dow Inc.

5.  INEOS Group Limited

6.  Reliance Industries Limited

7.  China Petroleum & Chemical Corporation

8.  Borealis AG

9.  Ducor Petrochemicals B.V.

10.  Chevron Phillips Chemical Company

Get Access to the Full Research Report:
https://www.industryarc.com/Report/16134/polyethylene-market.html

Polyethylene Market Report – Key Takeaways:

  • Packaging Industry is Leading the Market

    The packaging sector dominated the Polyethylene Market share by more than half in 2022; owing to its flexibility, lower cost of production, lightweight and heat-resistant packaging. These products have properties similar to traditional polyethylene and can be used for a variety of packaging applications such as frozen food bags and yogurt containers. The growth in e-commerce and the increasing use of flexible packaging are also driving the demand for the polyethylene industry in the packaging sector.
  • Increasing Demand for High-Performance Polyethylene is Poised to Increase the Polyethylene Market Growth

    The demand for HPPE is increasing owing to its ability to replace traditional materials such as metal and glass in various applications including packaging, consumer goods and industrial products resulting in cost savings and improved performance. Additionally, HPPE is being increasingly used in products such as sportswear, protective equipment and outdoor gear owing to its high strength and durability. As per the Digital Journal report, in 2020, the packaging industry manufactured $1.1 billion worth of high-performance polyethylene.

  • Availability of Substitute Products Hinders the Market

    The development of substitutes such as PET and PU products hinders the adoption of PE products. PET is a plastic resin that is commonly used for packaging, particularly for beverages and food products owing to its transparency, strength and barrier properties. On the other hand, PU is a versatile plastic that is used for a wide range of applications including insulation, upholstery and adhesives. PET and PU products can provide similar or better properties and performance. This can result in a shift towards these alternative materials and a reduction in the demand for PE products. In 2021, as per the NERL report, over 82 million metric tonnes of PET were produced and used as a substitute for Polyethylene.

  • Growing Opportunities in Research and Innovation Investments SSPP

    Most opportunities in the markets include Research and innovation investments in Smart Sustainable Plastic Packaging owing to a growing concern for the environmental impact of plastic waste and the need for more sustainable and eco-friendly packaging solutions. Growing application areas for polyethylene which include fashion clothes, sports goods and toys are likely to give new growth opportunities for the Global Polyethylene Market Growth.

Purchase this Premium Report:

https://www.industryarc.com/purchasereport.php?id=16134

Key Opportunity Analysis:

Research and Innovation Investments in Smart Sustainable Plastic Packaging

Smart Sustainable Plastic Packaging (SSPP) makes plastic packaging fit for a sustainable future. The ambition of SSPP is to make smart and environmentally friendly polyethylene packaging for consumer products. As per UK Research and Innovation, in 2022, the UK government invested £60 million in sustainable plastic R&D. It reflects the urgent need for actions to reduce the impact on the environment and eradicate plastic pollution. The amount of polyethylene waste in the environment would have significantly decreased by 2025. 

Development of New Technologies in Polyethylene Manufacturing

The development of new manufacturing technology such as metallocene catalysts enhances polyethylene performance. Metallocene catalysts are characterized by their ability to produce polyethylene with more uniform properties improved clarity and greater strength compared to traditional catalysts. Metallocene catalyst technology is widely used in the production of high-performance polyethylene products such as films, coatings and packaging materials. It has also found applications in other industries such as the automotive and construction sectors. Superior properties of metallocene-produced polyethylene include benefits such as weight reduction, improved durability and better thermal stability.

For instance, in 2022, Univation Technologies launched its most recent metallocene development, XCATTM VP Metallocene Technology which provides a superior balance of film processibility and performance in a variety of applications such as packaging (food packaging, heavy-duty shipping sack sand stand-up pouches). By enabling down-gauging in HDPE injection molding applications, XCATTM VP Metallocene also creates new market potential in established HDPE.

Increasing Collaboration with FMCG Manufacturers to Improve Plastic Recycling

In collaboration with retailers and manufacturers, the FMCG firms intend to increase recycling and decrease plastic pollution by providing various materials with a stable value. Increasing collaboration between polyethylene producers and FMCG manufacturers can help to improve plastic recycling and reduce the amount of plastic waste generated. By working together to develop joint initiatives, improve product design and increase the use of recycled materials, the industry can support a more sustainable and circular economy for polyethylene.

In the UK, a recent study from the University of Sheffield reveals that there is significant consumer demand for recycling flexible polyethylene with 95% of individuals saying they would be ready to recycle their flexible polymers. In May 2021, as per the Ecosurety report, over 80% of the collected plastics were recycled in the UK.

If you have any questions, please feel free to contact our experts at: https://www.industryarc.com/reports/request-quote?id=16134

The Report also Covers the Following Areas:

  • Polyethylene Market Size and Forecast
  • Polyethylene Market Trends
  • Polyethylene Market Analysis by Type

Polyethylene Market 2022-2030: Key Highlights

  • CAGR of the market during the forecast period 2023-2030
  • Value Chain analysis of key stakeholders
  • Detailed analysis of market drivers and opportunities during the forecast period
  • Polyethylene market size estimation and forecast
  • Analysis and predictions on end users' behavior and upcoming trends
  • Competitive landscape and Vendor market analysis including offerings, developments, and financials
  • Comprehensive analysis of challenges and constraints in the Polyethylene Market

Covid and Ukrainian Crisis Impact:

  • The COVID-19 pandemic has caused significant disruptions in global supply chains which has impacted the availability and cost of raw materials as well as the transportation of finished products. This has resulted in increased lead times, reduced production and higher costs. Additionally, the pandemic has caused delays in investment in new capacity and infrastructure which could impact the long-term supply and demand dynamics in the market.
  • The Ukraine and Russia conflict led to an increase in prices and reduction in production which further led to a shortage of polyethylene. Many companies have shut business in Russia; temporarily shutting down their plants in Ukraine. Additionally, the crisis in Ukraine has also led to a reduction in investments in the polyethylene market as companies are hesitant to invest in a region that is facing political and economic instability. This could impact the long-term supply and demand dynamics of the market.

To Get a Customized Industry Analysis, Speak with our Research Analyst: https://connect.industryarc.com/lite/schedule-a-call-with-our-sales-expert

List of Top Companies in the Polyethylene Market:

The Global Polyethylene Market is highly concentrated as the majority share is held by the leading polyethylene providers. The key companies profiled are listed below:

  • SABIC
  • ExxonMobil Corporation
  • LyondellBasell Industries N.V.
  • Dow Inc.
  • INEOS Group Limited
  • Reliance Industries Limited
  • China Petroleum & Chemical Corporation
  • Borealis AG
  • Ducor Petrochemicals B.V.
  • Chevron Phillips Chemical Company
  • Mitsui Chemicals Inc.
  • Formosa Plastics Corporation
  • Sumitomo Chemical Co. Ltd
  • Petroliam Nasional Berhad
  • Sasol Limited

Related Reports:

Wood Plastic Composites Market - The Wood Plastic Composites Market is projected to grow at a CAGR of 11.4% by 2030 owing to the growing demand for recyclable materials in the automobile industry, increasing environmental concerns and stringent government regulation boosts the market growth.

PE Pipe Resin Market - The PE Pipe Resin Market is projected to grow at an estimated CAGR of 3.1% by 2030 owing to the increasing demand for PE pipe resins in producing pipelines for the water supply and distribution applications across various industries such as water & wastewater treatment, agriculture, construction and others is offering major growth in the market.

Plastic Films & Sheets Market - The Plastic Films & Sheets Market is projected to grow at a CAGR of 5.2% by 2030 owing growing consumption of plastic films from the food and beverage, healthcare, and automotive industry and the rise in demand for eco-friendly and water-soluble films.

Micro-perforated Films Market - The Micro-perforated Films Market is projected to grow at a CAGR of 4.1% by 2030 owing to an increase in agricultural production and surging pharmaceutical production.

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company's Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC's goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

Contact Us: 
Mr. Venkat Reddy
IndustryARC
Email: sales@industryarc.com
USA: (+1) 970-236-3677 
Web: https://www.industryarc.com 
Follow us on: LinkedIn | Facebook | Twitter

Logo: https://mma.prnewswire.com/media/660951/IndustryARC_Logo.jpg

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