Report ID: SQMIG15E2065
Report ID:
SQMIG15E2065 |
Region:
Global |
Published Date: July, 2036
Pages:
254
|Tables:
68
|Figures:
75
Global Polyethylene (PE) Market size was valued at USD 115.62 billion in 2022 and is poised to grow from USD 120.36 billion in 2023 to USD 165.99 billion by 2031, growing at a CAGR of 4.1% in the forecast period (2024-2031).
Plastics have a number of benefits, including low cost, water resistance, and ease of manufacture, which have led to a wide range of applications in sectors including construction and automotive. An additional aspect boosting market revenue development is the rising demand for plastic packaging solutions to safeguard diverse products. The building industry also records a significant demand for polyethylene. In building and infrastructure applications, polyethylene's high tensile strength and stiffness are generating a consistent demand.
The most widely used plastic in the world is polyethylene, which is used in everything from detergent bottles to car fuel tanks to transparent food wrapping and shopping bags. Additionally, it can be cut, spun into synthetic fibers, or altered to mimic rubber's elastic qualities. The demand for safe packaging solutions is driven by high moisture resistance properties that protect food and drinks from internal as well as exterior surroundings. Market revenue growth is anticipated to be further fueled by manufacturers' increased focus on finding efficient packaging materials and solutions to lower quality loss and the danger of food contamination.
US Polyethylene (PE) Market is poised to grow at a sustainable CAGR for the next forecast year.
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The Global Polyethylene (PE) Market is segmented based on type, end-user and regions. Based on type the market is further sub segmented into High Density Polyethylene (HDPE) , Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE) segments. On the basis of end-user, the market can be bifurcated into packaging, automotive, infrastructure & construction, consumer goods/lifestyle, healthcare & pharmaceuticals, electrical & electronics, agriculture, and other segments. The regional insights of the Polyethylene (PE) Market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Polyethylene (PE) Market Analysis by Type
Due to its qualities, including low manufacturing costs, high strength to density ratio, and high-temperature resistance, the HDPE sector has the highest market share. The molding process used to produce HDPE affects the material's physical characteristics. A wide range of applications, including ballistic plates, bottle caps, boats, chemical resistant pipework, food storage containers, and others, call for HDPE due to its strong resistance to different types of solvents.
Due to its attributes including chemical resistance, flexibility, and softness, LDPE is mostly utilized for packaging. For packaging purposes, it is mostly used in the food business. Further boosting the demand for LDPE in the polyethene market is the increased demand for lightweight packaging in sectors like electronics, healthcare, and food & beverage.
Polyethylene (PE) Market Analysis by End-User
The growing use of resin in the production of various packaging solutions in the food & beverage industry, the packaging segment accounted for the biggest polyethylene market share and is estimated to stay the largest during the projected period. According to our research, the market for flexible packaging is dominated by the food and beverage sector by more than 60%.
In terms of the end-use industry, the infrastructure & construction section is regarded as the second most significant segment. It is anticipated that demand for PE in this end-use industry would rise due to the expanding usage of PE in the production of various construction materials, including films and sheets for windows, flooring, countertops, roofing, covering building components, and sealing off rooms.
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The region with the largest market share is Asia Pacific, which is expected to hold the position for the duration of the forecast. This is related to the fact that the region is home to major consumers like China and India. Reliance Industries Limited reports that the demand for PE increased by 4%. Growing demand from sectors like packaging and infrastructure & construction is what's fueling market expansion in this nation.
The second-largest portion of the worldwide market was accounted for by Europe. The automotive industry's growing demand for this polymer is anticipated to add to the high market revenue in the area. Due to its qualities including electric insulation, corrosion inhibition, strong heat resistance, and low density, PE is the most desired polymer among the several others used in Europe.
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Polyethylene (PE) Market Driver
The rise in demand amongst various end user sectors for high strength plastic is boosting the market growth.
Polyethylene (PE) Market Restraint
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All across the world, there are significant producers of polyethene. One of the well-known businesses, LyondellBasell, is involved in the plastics, chemicals, and refining industries. It offers a huge selection of PE items. The company's use of the acquisition strategy has demonstrated its superiority across the globe. On the other side, ExxonMobil is growing across the globe via tactics like joint ventures and by offering a wide variety of polymer goods.
Polyethylene (PE) Market Top Players Company Profiles
Polyethylene (PE) Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Global Polyethylene (PE) Market is segmented based on type, end-user and regions. The HDPE sector has the highest market share, due to its qualities, including low manufacturing costs, a high strength to density ratio, and high-temperature resistance. The growing use of resin in the production of various packaging solutions in the food & beverage industry, the packaging segment accounted for the biggest polyethylene market share and is estimated to stay the largest during the projected period. The region with the largest market share is Asia Pacific, which is expected to hold the position for the duration of the forecast.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 115.62 billion |
Market size value in 2031 | USD 165.99 billion |
Growth Rate | 4.1% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Polyethylene (PE) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polyethylene (PE) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polyethylene (PE) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polyethylene (PE) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG15E2065