The increasing demand for polythene in various industries is a key factor driving the global polyethylene market, says Fortune Business Insights in a report, titled “Polyethylene (PE) Market Size, Share & Industry Analysis, By Type (HDPE, LDPE, LLDPE), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Agriculture, Others), and Regional Forecast, 2019-2026.” The global polyethylene market size was valued at USD 103.49 Billion in 2018 and is expected to reach USD 143.30 Billion by 2026, exhibiting a CAGR of 4.1%.
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List of top companies Covered in the Polyethylene (PE) Market research report are:
- Reliance Industries Limited
- China Petroleum Corporation
- ExxonMobil Chemical
- China National Petroleum Corporation
- Total S.A.
- Formosa Plastics Group
- BASF SE
- Other Players
According to the report, the polyethylene market on the basis of type is segmented into high-density polyethylene (HDPE), low-density polyethylene (LDPE), and linear-low density polyethylene (LLDPE). High-density polyethylene (HDPE) is expected to hold maximum share in the global polyethylene market owing to the characteristics of (HDPE) such as low manufacturing cost, high strength to density ratio, and high-temperature resistance. In addition, HDPE is highly resistant to various types of solvents and has a wide variety of applications such as ballistic plates, bottles caps, boats, chemical resistant piping, food storage containers, and others.
The report comprises of various aspects to benefit companies in the long run. It provides information regarding recent market trends and educates on different levels such as market drivers, growth restraints, industrial development and acquisitions & mergers. The report in-detail discusses the new alterations in the polyethylene market in recent times.
Rising Consumption of Polyethylene In Food & Beverage Industry Will Aid Growth
The increasing demand and consumption of polyethylene in the food & beverage industry will contribute growth to the global polyethylene market owing to its moisture barrier property that protects the food & beverages from external as well as internal environments. The rising focus of manufacturers effective packaging to reduce the possibility of food contamination and loss of quality. This factor is expected to create lucrative growth opportunities for the global polyethylene market.
Furthermore, property such as high rigidity makes polyethylene suitable for industrial use. Primarily for packaging of automotive and electrical spare parts. The rising focus of manufacturers in the automotive industry on increasing the efficiency of vehicles by reducing the weight of the vehicles will further propel the growth of the global polyethylene market. In addition, polyethylene material is light in weight and offers easy processability as well sealing and stiffness properties. The advantages offered by polyethylene will fuel demand and enable the growth of the polyethylene market during the forecast period.
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High-Density Polyethylene (HDPE) To Account for Highest Shares
According to the report, the polyethylene market on the basis of polyethylene market is segmented into high-density polyethylene (HDPE), low-density polyethylene (LDPE), and linear-low density polyethylene (LLDPE). HDPE will account for the largest market shares during the forecast period owing to its characteristics such as low manufacturing cost, high strength to density ratio, and high-temperature resistance.
Furthermore, the low-density polyethylene (LDPE) segment will witness considerable demand owing to its properties such as chemical resistance, flexibility, and softness. In addition, the rising demand for lightweight packaging in industries such as electronics, healthcare, and food & beverages will aid well for the low-density polyethylene (LDPE), which, will, in, turn boost the polyethylene market revenue.
Furthermore, linear-low density polyethylene (LLDPE) segment is expected to grow significantly during the forecast period owing to its properties such as high tensile strength, high impact resistance, and flexibility. (LLDPE) is produced by copolymerization of ethylene with butene, and small amounts of hexene and octene, using Ziegler-Natta catalyst. The properties of (LLDPE) makes it suitable for industries such as packaging, agriculture, building & construction, and healthcare.
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