Crossed-Linked Polyethylene (PEX / XLPE) Market is projected to be worth USD 10.27 billion by 2030, registering a CAGR of 7.81% during the forecast period (2021 - 2030), The market was valued at USD 5.73 billion in 2020.
An irregular crystalline structure made up of durable thermoplastic and is very lightweight is known as polyethylene. Cross-linked polyethylene is a thermosetting resin with three types of cross-linking: peroxide cross-linking, radiation cross-linking, and silane cross-linking. It holds a high molecular weight which improves the impact strength, environmental stress cracking resistance of polymer, abrasion resistance without altering the tensile strength and density. Cross-linked polyethylene is principally utilized in the pipe and in the plumbing industry as a replacement for traditional materials such as copper, galvanized steel, PVC piping, owing to their rusting and cost of circulation.
Due to the flexibility of the polymer, it is quickly replacing the copper pipes and tubes. It is much cheaper, resists corrosion and shows an extensive useful temperature range. Another most important function of the polymer is in the mining industry. Cross-linked polyethylene is also taking chemical storage tanks due to its high strength and heat, and chemical resistance. Its use in wear resistance joints is also examined currently. Some of the other important function of the polymer includes dental materials, automotive ducts and housings, canoes and kayaks.
The outbreak of covid-19 has caused worldwide panic and economic imbalance for consumers, businesses and communities globally. The tier 1 and tier 2 companies, those who were involved with theCross-Linked polyethylene market in the production department, were forced to shut down their activities. The pandemic has led to the stoppage of production, shortage of workers and disruption of logistics in several PEX producing countries. All of these impacted in breakage of the supply chain of the Cross-Linked polyethylene market as the operation has slowed down in many manufacturing units. The pandemic has negatively impacted the end-use industries such as automotive, construction, chemicals, packaging, and consumer goods. These are the industries that require a strong distribution network and high transportation activities. Due to strict regulations implemented by the government, the lockdowns and the ban on transportation across several countries, these end-use industries cannot meet user requirements, thus weakening the growth of the Cross-Linked polyethylene market. The market is expected to have slow growth until the second quarter of 2020, as the lockdown and shutdowns continue in many regions across the world. The demand for PEX in the medical & healthcare industry will fuel the market in the virus outbreak.
Chief Factors Existing In The Market
Cumulative Evaluation Of The Market
Cross-linked Polyethylene market size is projected to be worth USD 10.27 billion by 2030, registering a CAGR of 7.81% during the forecast period (2021 - 2030), The market was valued at USD 5.73 billion in 2020. Strong demand from the plumbing industry and the wires and cables manufacturing sector are the key factors expected to have a positive impact on the market in the upcoming years. The rising demand for weather, heat, and moisture resistant materials that provides better protection to wires to transfer energy effectively and efficiently is one of the key factors expected to drive the demand for cross-linked polyethylene over the upcoming years.
The global Cross-Linked Polyethylene Market is segmented on the basis of Type, Technology, Applications, And Geography.
Under the type, The market is divided into Low-Density Polyethylene , Medium-Density Polyethylene, and High-Density Polyethylene. The High-Density Polyethylene segment is expected to report the highest share. The benefits which it provides, such as lightweight, cost-effective and ease of installation, are the reason why it can be assigned to a wide range of applications such as in plumbing and construction of pipelines.
Under the technology, the market is divided into Peroxide, Silane Grafting, and Electron Beam Processing. The Peroxide segment is expected to report the highest share.
Under the applications, the market is divided into Wires and Cables, Automotive, Plumbing, Medical, and Others. The Wires and Cables segment is expected to report the highest market share.
Under the regional analysis, the global Cross-Linked Polyethylene Market is divided into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific is expected to report the highest market share.
According to Cross-Linked Polyethylene Market Analysis, the Asia Pacific is reported for more than 2/5th of the overall market by the end of 2018 due to the rising infrastructure activities in developing nations such as India and China. The increasing development of sewer systems, natural gas production units, expansion of pipelines etc. is found to be some of the major key factors assisting the cross-linked polyethylene demand over the upcoming years.
In European countries, the use of cross-linked polyethylene is expected to have moderate growth due to the rising demand from the automotive sector, particularly for thermal insulation, interior parts, gaskets, seals, etc.
North America in the market is reported for a small share by 2018; however, it is expected to grow at below average rate during the estimated years, supported by a positive outlook of the wires and cables industry in the U.S.
Competitive Intensity Within The Industry
Manufacturers are expected for significant investments in R&D and apply innovative solutions through advanced technology for achieving a competitive advantage. Companies are adopting a number of mergers and acquisition strategies to achieve their cross-linked polyethylene market share. In June 2018, Polyone Corporation, a leading manufacturer of specialized and advanced polymer materials, acquired Plasticomp. The acquisition will expand the company’s footprint into the LFT composites segment.Some of the key main players are Silon S.R.O., The DOW Chemical Company, Lyondellbasell Industries N.V., AkzoNobel N.V., Viacom Co., Ltd., ExxonMobil, Chemical Company Inc., Arkema Group, Borealis AG. Other prominent industry players are Falcone Specialities AG, Zimmer Inc., Hanwha Chemical, Polyline Polymers Ltd., Vanderbilt Chemicals LLC, Polyone Corporation. This enhances the growth and Cross-Linked Polyethylene market outlook.
Recent Market Developments
This report contains all the data of the market, such as market overview, covid-19 analysis and how it affects the market, the key drivers, the market opportunities, theCross-Linked Polyethylene market forecast, the key drivers, the challenges that the market face, the market restraints, the market segmentation, the regional analysis, the competitive landscape, report overview and recent development of the market.
Key Industrial Segments
Wires and Cables
|Market Size||2030: USD 10.27 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Technology, Process and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Borealis AG (Austria), Solvay (Belgium), LyondellBasell Industries Holdings B.V. (The Netherlands), PolyOne Corporation (US), Exxon Mobil Corporation (US), 3H VINACOM CO., LTD (Vietnam), Falcone Specialities AG (Switzerland), HDC HYUNDAI EP COMPANY (South Korea), SACO AEI Polymers (US), SANKHLA POLYMERS PVT LTD (India), SILON s.r.o. (Czech Republic), Charloma Inc (US)|
|Key Market Opportunities||The widespread usage of XLPE in wires & cables is another important factor propelling the growth of the global cross-linked polyethylene market.|
|Key Market Drivers||
The global XLPE market is expected to rise to USD 10.27 billion by 2028.
The market is expected to exhibit a strong 7.81% CAGR over the forecast period from 2021 to 2028.
Increasing use in the production of pipes, wires and cables, and solar panels is the major driver for the XLPE market.
Asia Pacific dominates the global XLPE market.
Leading players in the XLPE market include Borealis AG, Solvay, and Hanwha Chemical Corporation, among others.