Polyethylene is a thermoplastic polymer build form ethylene molecules. Polyethylene is generally used for packaging purposes. It has excellent mechanical, chemical and electrical properties. Moreover, they are cheap and electrical and chemical resistant.
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The global polyethylene market is segmented into application such as collectors, packaging, automotive, electrical and electronics and other application. Among these segments, packaging segment accounted for the biggest segment in overall polyethylene market and is expected to seize an outstanding CAGR by the end of 2024.
Likely, adoption of polythene is predicted to increase owing to increasing consumer preference towards easy-to-open and transparent packaging that can preserve and protect the food item. This factor is projected to foster the growth of global packaging polyethylene market.
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Global polyethylene market is anticipated to post a CAGR of 4.2% during the forecast period i.e. 2017-2024. In terms of volume, global polyethylene market has crossed 160 Million tons in 2016.
Additionally, massive utilization and adoption of polythene in various end-use industries such as electronics and automotive is one of the key growth drivers of global polyethylene market.
The high-density polyethylene segment by product density occupies the largest market of overall polyethylene market. In addition to this, the demand for high-density polyethylene is increasing due to its various properties such as strong, tough and durable.
Thus, high-density polyethylene is highly used for making pipes which can be used for gravity and low pressure sewerage and drainage purposes such as waste water, sanitary sewer and storm sewerage for municipal or industrial use. Moreover, HDPE pipes are lightweight, flexible, and come in long lengths, allowing for easier and convenient installation which is expected to foster the growth of global high-density polyethylene market.
Rising Demand for Packaging Material
Massive utilization of polyethylene by pharmaceutical industry for packaging is projected to boost the growth of polyethylene market in near future. Moreover, rising utilization of polyethylene in automotive sector for various uses such as power trains, under the hood and chassis and others is envisioned to bolster the market of polyethylene across the globe.
Wide Scale Application
Wide spectrum of application of polyethylene in various end use industries such as automotive, electronics, packaging and others is believed to be the dynamic factor behind the rapid growth of polyethylene market. Moreover, growing usage of polyethylene in the manufacturing of household electronics due to its properties such as polyethylene is poor conductor of heat and electricity.
On the contrary, strict government legislations regarding the usage of polyethylene for packaging is expected to hinder the growth of polyethylene market over the forecast period. Moreover, growing awareness towards environment pollution among the population is anticipated to dampen the market of polyethylene.
The report titled “Polyethylene Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global polyethylene market in terms of market segmentation by type, by product density, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global polyethylene market which includes company profiling of BASF Corporation, Sumitomo Chemical, The Dow Chemical Company, Lone Star Chemical, Global Polymer Industries Inc., SABIC, LyondellBasell, Exxon Mobil Corporation, Reliance Polymers and Haldia Petrochemicals. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global polyethylene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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