Email
Print
Market Overview:
The Polyethylene Market size is estimated to reach $157 billion by 2030, growing at a CAGR of 4.2% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Polyethylene Market - By Type [(Low-Density Polyethylene (LDPE), Medium Density Polyethylene (MDPE), High Density Polyethylene (HDPE), Linear Low-Density Polyethylene (LLDPE), Ultra-low-density polyethylene (ULDPE), High-molecular-weight polyethylene (HMWPE), Metallocene polyethylene (mPE), Chlorinated polyethylene (CPE), Ultra-high-molecular-weight polyethylene (UHMWPE), Cross-linked polyethylene], By Manufacturing Technology (Extrusion Blow Molding, Compression Molding, Plastic Injection Molding, Reaction Injection Molding, Rotational Molding, Thermoforming, Vacuum Casting, Others), By Application (Films & Sheets, Pipe, Hoses & Fittings, Extrusion Coatings, Wires and Cables, Trash & Grocery Bags, Toys, Medical Equipment, Household Items, Packaging & Containers, Bottles, Others), By End Use Industry (Food & Beverage, Electrical & Electronics, Automotive, Building & Construction, Health & Hygiene, Agriculture, Textile, Consumer, Chemical, Pharmaceutical, Healthcare, Aerospace & Defence, Sports, Information Technology (IT), Furniture, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”.
The growth of the Polyethylene Market is fuelled by the increasing sustainable development of post-consumer packaging plastic waste recycling systems, rising demand for bio-based products and increasing demand for high-performance polyethylene.
Asia-pacific Accounted for Significant Market Share In 2022:
Asia-pacific region held the major Polyethylene Market share of 38% in 2022 owing to the rapid industrialization and increase in demand from industries like packaging, construction and infrastructure sectors. As per the National Bureau of Statistics (NBS) of China, in 2021, China manufactured around 7.95 million metric tons of polymer products which is anticipated to propel the market growth in packaging industry.
Polyethylene Market Growth Drivers:
Rising Demand for Bio-based Products Drives the Market Growth
The demand for bio-based products in the polyethylene market is increasing owing to a growing awareness of environmental sustainability and the need to reduce reliance on fossil fuels. Bio-based polyethylene is made from renewable raw materials such as sugarcane, corn, and vegetable oils which have a lower carbon footprint compared to fossil fuel-based polyethylene.
Additionally, the increasing demand for bioplastics in various industries such as packaging, agriculture, and consumer goods is also driving the growth of the bio-based polyethylene market. Governments and organizations are also promoting the use of bio-based products through regulations and incentives, which is further boosting the demand for bio-based polyethylene. In December 2022, as per the European Bioplastic report, more than 48 percent (nearly 1.1 million tonnes) of the world's bioplastic production capacity is made up of biobased, non-biodegradable polymers such as biobased polyethylene and polyethylene terephthalate.
For More Queries About "Polyethylene Market" @ https://www.industryarc.com/support.php?id=16134
Increasing Demand for High-Performance Polyethylene Boosts the Market Growth
High-performance Polyethylene (HPPE) is a type of polymer that has a combination of properties such as high strength, high modulus and high chemical resistance. This makes it appropriate for various applications such as consumer goods, medical equipment and industrial constructions. The demand for HPPE is increasing owing to its ability to replace traditional materials such as metal and glass in various applications, resulting in cost savings and improved performance. Additionally, the growing trend of lightweight HDPE in various industries is also driving the market. In July 2022, as per the digital journal report, the high-performance polyethylene production in packaging is $1.1 billion in 2020 and is estimated to be $2.6 billion by 2030.
Scope of the Report:
Recent Developments:
- In December 2022, SABIC has introduced a new HDPE (High-Density Polyethylene) with mechanical recycled material as a part of TRUCIRCLE™, the firm's commitment to advancing a circular economy for polyethylene. The material was specially created for blow molding bottles for motor oil and lubricants.
- In 19 October 2021, LyondellBasell announced the production of polyethylene (PE) and polypropylene (PP) on a commercial basis under the brand name CirculenRenew, which has measured and certified C14 content from renewable feedstock.
Polyethylene Market: Competitive Landscape
Key companies profiled in the Polyethylene Market are SABIC, ExxonMobil Corporation, LyondellBasell Industries N.V., Dow Inc., INEOS Group Limited, Reliance Industries Limited, China Petroleum & Chemical Corporation, Borealis AG, Ducor Petrochemicals B.V., and Chevron Phillips Chemical Company.
To request for a quote, provide your details in the below
link:
https://www.industryarc.com/reports/request-quote?id=16134
Media Contact:
Mr. Venkat Reddy
Sales Manager
Email: [email protected]
Contact Sales: +1-970-236-3677
About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.