Cross Linked Polyethylene Market Report

Market Insights

Cross-Linked Polyethylene Market is likely to grow from USD 6.07 billion in 2021 to USD 9.63 billion by 2028 at an impressive CAGR of 6.68% during the forecast period of 2022-2028.

What is cross linked polyethylene?

Cross-linked Polyethylene is mainly a polyethylene form that has cross-links. It is used in a wide number of places such as hydronic systems, pipework systems, electrical cables, and many others.

Cross-linked Polyethylene is available in different types such as high-density polyethylene, low-density polyethylene, and others. PEXA, PEXB, and PEXC are the technology types of the cross-linked polyethylene.

Market Drivers

The major drivers contributing to the growth of the PEX market are the automotive and the construction industries in APAC, mainly in India, China, Japan, South Korea, and the Southeast Asian countries.

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Segments' Analysis

By Type

Based on the type, the market is segmented as High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), and others. The HDPE segment is estimated to lead the market during the forecast period. This growth is attributed to the remarkable combination of properties, which enable HDPE as the ideal material for diverse applications in various industries. The growing demand for products manufactured by using HDPE, owing to the high growth in the construction industry and improved investments in the industrial and public infrastructure in the developing regions of APAC, Europe, North America, South America, and the Middle East & Africa is likely to boost the demand for PEX during the forecast period.

By Technology Type

Based on the technology type, the market is segmented as PEXA, PEXB, and PEXC. PEXA is estimated to be the largest technology type of the market during the forecast period. This technology segment is estimated to dominate the market in 2021. It is the most commonly used technology for the production of PEX, offering the highest and the most uniform degree of cross-linking. The advantages of this technology, such as increased resistance to stress cracking, good weatherability, improved chemical resistance, and excellent degradation stability are an important consideration for cable insulation and pipe applications, thereby, stimulating the demand for this technology.

By Application Type

Based on the application type, the market is segmented as wires & cables, plumbing, automotive, and others. Wires & cables is estimated to be the largest application type of PEX and is likely to lead the PEX market during the forecast period. PEX is extensively used as electrical insulation in power cables of all voltage ranges, though it is more suited for low and medium voltage applications. On account of this, the segment is expected to drive the PEX market in the coming five years.

By Region

In terms of regions, Asia-Pacific is estimated to be the largest and fastest-growing PEX market during the forecast period. The market is driven by the region’s rapid industrialization and expanding transmission & distribution lines in the electrical & communication industry, thereby, bolstering the demand for PEX-based wires & cables. Further, the extensive use of XLPE wires in automotive battery cables, wire & cable coating layer, motors, and other high-voltage resistance materials in the Asia-Pacific region is also boosting the PEX market. In addition, the rising residential and non-residential infrastructures in this region are contributing to the construction of pipelines and tubing, which is underpinning the PEX market in the plumbing application. North America and Europe are also expected to offer substantial growth opportunities in the coming five years. 

Market Scope & segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The cross-linked polyethylene market is segmented into the following categories. 

By Type:

• High-Density Polyethylene (HDPE)
• Low-Density Polyethylene (LDPE)
• Others

By Technology Type:

• PEXA
• PEXB
• PEXC

By Application Type:

• Wires & Cables
• Plumbing
• Automotive
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

Some of the major players in the cross-linked polyethylene market are-

• Borealis AG
• Charloma Inc.
• 3H Vinacom Co., Ltd.
• Solvay S.A
• Falcone Specialties AG
• HDC Hyundai EP
• Hanwha Chemical Corporation
• Exxonmobil Corporation
• Polylink Polymers (India) Ltd.
• Zhejiang Wanma Macromolecule Material Co., Ltd.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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