Polyethylene Market Research Report - Forecast to 2030

Polyethylene Market Global Segmented By Type (LDPE, MDPE, HDPE), Technology (Films & Sheets Extrusion, Pipe Extrusion, Injection Molding, Blow Molding, Others) End-User (Packaging, Construction, Automotive, Electrical & Electronics, Household Applications, Others) and Region Forecast till 2030

ID: MRFR/CnM/0550-CR | February 2021 | Region: Global | 252 Pages         

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Polyethylene Market

Polyethylene Market is projected to be worth USD 135.87 billion by 2030, registering a CAGR of 5.89% during the forecast period (2022 - 2030). The market was valued at USD 112.15 billion in 2021.

Segmentation
By Type LDPE MDPE HDPE
By End-User Packaging Construction Automotive Electrical & Electronics Household Applications Others
By Technology Films & Sheets Extrusion Pipe Extrusion Injection Molding Blow Molding Others
Key Players
Companies Profiled   china petrochemical corporation (china)   Formosa plastics corporation (Taiwan)   Petronas chemicals group Berhad (Malaysia)   Mitsui chemicals inc. (Japan)   Exxon Mobil Corporation (US)   LyondellBasell Industries NV (the Netherlands)   Sumitomo chemical co. ltd (japan)   SABIC (Saudi Arabia)   Ineos group holdings SA (the UK)   Sasol Ltd. (South Africa)   Chevron Phillips chemical company (US)
Drivers
Market Driving Forces   Significant Contribution of Agriculture Sector to Boost the Market
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Polyethylene Market- Overview


Polyethylene Market is projected to be worth USD 135.87 billion by 2030, registering a CAGR of 5.89% during the forecast period (2022 - 2030). The market was valued at USD 112.15 billion in 2021.


Polyethylene (PE), also known as polythene, is a group belonging to the thermoplastic polymers, and based on its polymerization process, it can be produced for different purposes. 


The polyethylene market is projected to grow significantly during the forecast period owing to rapid industrialization and urbanization. The expansion of the packaging industry is predicted to be another salient cause that can augment the polyethylene market size in the coming period.Lyten, a producer of cutting-edge materials and applications and creator of the groundbreaking Lyten 3D Graphene materials platform, has introduced a new polymer composite product line called LytR. The industry leader in high-strength protective cases, Pelican Products, Inc., will include LytR into their next generation of transport cases. Customers will benefit from less physical strain, lower transportation and fuel expenses, a larger payload, and a less carbon footprint thanks to the lighter weight of LytR reinforced cases.


COVID 19 ANALYSIS


The polyethylene market value was hampered due to the global outbreak of the coronavirus pandemic. The market was witnessing an inability to meet the demand and the imposition of strict norms and lockdown added to the adversity that was already being faced by the market.


However, the upcoming years predict that the market has a good fortune both in terms of value and quality. The rising investments in the production of environmentally friendly goods will help the market grow and attain an excellent market value by the end of the period in 2028.A Memorandum of Understanding (MoU) was signed between Borouge Plc and Abu Dhabi Medical Devices Company (ADMD) to form a new strategic collaboration to advance the medical device manufacturing sector in Abu Dhabi. Because of the COVID-19 pandemic, Borouge began producing 'Made in UAE' polypropylene solutions in particular grades for use in the production of PPE, such as face masks (PPE).


COMPETITIVE LANDSCAPE


To get a comprehensive and acute idea about the polyethylene market insights, it is very important to create a competitive environment amongst the different prime players present at different market locations all around the world. All the market players are engaging themselves in various types of strategies such as product launches and upgrades, mergers and acquisitions, partnerships, etc. The most valuable players of this market are:-



  • china petrochemical corporation (china)

  • Formosa plastics corporation (Taiwan)

  • Petronas chemicals group Berhad (Malaysia)

  • Mitsui chemicals inc. (Japan)

  • Exxon Mobil Corporation (US)

  • LyondellBasell Industries NV (the Netherlands)

  • Sumitomo chemical co. ltd (japan)

  • SABIC (Saudi Arabia)

  • Ineos group holdings SA (the UK)

  • Sasol Ltd. (South Africa)

  • Chevron Phillips chemical company (US)


MARKET DYNAMICS


DRIVERS


The agricultural sector that is functioning as a part of the polyethylene market size is anticipated to make a reliable contribution in the development of the market owing to the rising demand for nozzles and drippers in the irrigation field and functions. The increasing production of microtubes and emitting pipes is likely to play a salient role in helping to develop the global market at an international scale. In addition, there has been a surge in the demand which is resulting in enhancing the manufacturing process of toys and other consumer commodities like fashion apparel, and sports goods. This is another prominent factor that is anticipated to act as another salient factor that can strengthen the polyethylene market trends during the forecast period that will be ending in 2028. The market is witnessing the introduction and development of bio-degradable polyethylene which is believed to present the market with excellent opportunities during the forecast period.


RESTRAINTS


The polyethylene market share is likely to face some challenges while on the path of its growth, as well. The growing need for environmental protection and health awareness is expected to cause hindrances to the market growth predicted for the forecast period that will be ending in 2028. There has been an increase in the imposition of stringent rules and regulations that are expected to restrain the market from growing. Also, the unstable fluctuating prices of the raw materials essential for production are likely to harm the growth prospects for the market during the forecast period.


TECHNOLOGY ANALYSIS


The global polyethylene market trends are anticipated to have an excellent expansion and witness a significant rise during the ongoing forecast period of 2021-2028. The main aim behind this effective growth is owing to the rising degree of demand for packaged goods across an array of industries and consumer groups. Besides this, PE is emerging as a cost-effective solution, and the ongoing developments on the market products and presented portfolio to make it eco-friendly and beneficial for the environment are expected to strengthen the market functioning in the assessment period that will be ending in 2028.Scientists have found a way to convert polyethylene (PE), the most common type of plastic, into polypropylene. Polyethylene (PE), the most commonly used plastic in the world, can now be recycled into polypropylene, one of the top five most prevalent plastics in the world, thanks to a revolutionary upcycling technique devised by scientists. As a result, a significant amount of PE is being wasted in landfills rather than recycled. When the accumulated amount is burned, the energy can be used again. This method of recycling isn't very long-term viable. Preliminary calculations by the researchers show that eliminating the usage of just 20% of the world's PE plastic manufacturing by this technology would have the same effect on greenhouse gas emissions as eliminating the use of 3,000,000 personal automobiles.


STUDY OBJECTIVES



  • To review and understand the point of view of various industry experts and leaders that have anticipated the compound annual growth rate and attainable market revenue by the end of the global forecast in 2028.

  • To examine the growing competitive outlook of the market and the reasons behind the same. The market report also helps the market investors understand the polyethylene market trends and make their buying and investing decisions based on the same.

  • To examine the various market dynamics like trends, drivers, and restraints that are most likely to play a role in helping the market and its different segments grow in the domestic as well as international market.


SEGMENT OVERVIEW


Polyethylene market share is expected to witness significant growth owing to the performance of different market segments. Among these, the low-density polyethylene (LDPE) segment will be the fastest-growing and also contribute towards this market growth more than any other segment. It will be valued at USD 97,157.2 million with a cagr growth of 6.01% by the end of the forecast period. The packaging segment will also witness significant growth with a cagr of 6.12%. For a magnifying use the market has been segmented into the following on different bases:


Based on type,it has medium-density polyethylene (MDPE), low-density polyethylene (LDPE), and high-density polyethylene (HDPE).


Based on end-user,it has construction, packaging, automotive, household applications, electrical & electronics, others.


Based on technology,it has blown molding, pipe extrusion, including films & sheets extrusion, injection molding, and othersThe use of a modified polyethylene (PE) foam to create seamless insulation shells in extreme environments, such as the polar regions, was recently demonstrated in a work published in the journal Polymers. Products made from polystyrene and expanded polyurethane foam are widely utilized in building. PE foams and polyisocyanurate foams are two examples of polyolefins that are gaining popularity as thermal insulation materials. However, these materials' high flammability is a major drawback that calls for the creation of technologies to lower their flammability and boost their resilience to fluctuating and negative temperatures.


REGIONAL ANALYSIS


The polyethylene industry movement is extraordinarily working in 6 major regions of the world that is North America, Asia Pacific, Europe, Africa, South America, and the Middle East. Among all these regions, the Asian Pacific region will dominate this market and the reason for that is rapid urbanization and industrialization. Secondly, the rapid expansion of food and beverages, packaging, infrastructure, and construction industries are expected to make a major contribution towards the growth of this market in this region. The growth of this market in the APAC region will be led by its developing nations such as India, China, and Japan. Europe will come up as the second-largest market of polyethylene with a cagr of 5.53% during the forecast period. The North American region is also anticipated to witness significant growth during the forecast period due to the increasing development of the automotive, electrical & electronics, packaging, and healthcare & pharmaceuticals sector. The Middle East and Latin America region is also anticipated to witness steady growth owing to the growing demand for packaging, construction materials, and consumer goods.The rPE sold by NOVA Chemicals comes from a combination of stretch film from the warehouse and consumer return packaging from the storefront. The rPE sold by NOVA Chemicals comes from a combination of stretch film from warehouses and customer return packaging from storefronts. The company's technological approach is meant to steer clients toward using rPE while keeping performance at a satisfactory level, and its design for recycling strategy is meant to keep flexible packaging recyclable.

Industry News


October 2021- A controversial project proposed by Westcoast Olefins (WCL) has been terminated.Ken James, CEO of WCL, states the Polyethylene Plant initially scheduled for the BCR Industrial Site will not proceed. The CEO confirmed plans are still in place for the NGL Extraction Plant suggested for agricultural land in Pineview. The 5.6 billion dollar Polyethylene Plant will no longer move ahead amid serious concerns from the environmental law department at the University of Victoria and conflicts with local first nations.November 2021- Charter Next Generation and NOVA Chemicals Corporation announced a substantial landmark in the large-scale use of post-consumer resin (PCR) for elastic film applications. Both the companies have effectively collaborated to boost the supply of more sustainable films for packaging and develop a circular economy where valued plastic materials are reprocessed to be used again and again. Railcar extents of PCR reached CNG’s manufacturing facilities in October.


December 2020 : A new chemical process developed at the University of California, Berkeley, can convert polyethylene plastic into a strong and valuable adhesive.


INTENDED AUDIENCE



  • Polyethylene manufacturers and providers

  • third-party vendors

  • Government bodies

  • Technology investors  

  • Research institutes and organizations

  • Market research and consulting firms

  • End-users/enterprise-users

  • Managed service providers (MSPs)


REPORT OVERVIEW


The report qualitatively surveys the market and covers the market functioning based on the following market aspects:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technology Analysis

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


The polyethylene industry report represents a drift analysis that talks about market drivers, opportunities, and restraints that are available in the global market. The report also discusses the impact of the covid-19 outbreak on the prominent players functioning as a part of the global market. The report also informs the potential market investors about the market segmentation on a global basis and how the factors that give rise to a competitive environment in various market regions as the actions of the key market players around the globe. At last, the report discloses and highlights some prominent recent developments in this industry that have taken place during or before the period.



Report Scope:

Report Attribute/Metric Details
  Market Size   2028: USD 135.87 billion
  CAGR   5.89% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Technology and End-Use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   China Petrochemical Corporation (China), Formosa Plastics Corporation (Taiwan), Petronas Chemicals Group Berhad (Malaysia), Mitsui Chemicals Inc. (Japan), Exxon Mobil Corporation (the US), LyondellBasell Industries NV (the Netherlands), Sumitomo Chemical Co. Ltd (Japan), SABIC (Saudi Arabia), DowDuPont (the US), INEOS Group Holdings SA (the UK), Sasol Ltd. (South Africa), Chevron Phillips Chemical Company (US)
  Key Market Opportunities   Introduction of Bio-Degradable Polyethylene to Offer Significant Opportunities for Expansion
  Key Market Drivers   Significant Contribution of Agriculture Sector to Boost the Market


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Frequently Asked Questions (FAQ) :

The polyethylene market would turn out to be USD 135.87 billion by 2028.

The global polyethylene market would mark progress with 5.82% CAGR during the forecast period encompassing 2021 to 2028.

The low-density polyethylene (LDPE) segment would fetch the maximum revenue for the global polyethylene market.

The film & sheet extrusion segment has the power to lead th e polyethylene market.

The packaging segment is the dominating force for the polyethylene market.