The global polyethylene market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Polyethylene is a polymer produced from polymerization of ethylene monomer. Polyethylene, commonly known as polythene is the largest volume polymer business globally. Polyethylene constitutes about forty percent of polymer resins used in a wide range of applications, from bottles to automotive parts. It is a major feedstock for producing many thermoplastic resins. Polyethylene grades of resins include High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE) and Linear Low Density Polyethylene (LLDPE). High Density Polyethylene (HDPE) beads are mostly used in the production of molded products. Whereas both LDPE and LLDPE are used in the production of thin film packaging materials.
Polyethylene resins is made into different intermediates using various molding technologies such as injection molding, blow molding, film and sheet, pipes and profile, wire and cable and rotomolding.
Rising demand for HDPE resins from various industries such as packaging, construction, and others are likely to drive the polyethylene market. As polyethylene is a major feedstock for various HDPE intermediates production, demand for HDPE is expected to fuel the growth of this market. Demand for HDPE is increasing due rise in demand from construction, packaging and other industries, which is in turn supported by the growing population and extra income in developing countries.
Drivers and Restraints Polyethylene Market
Growing investments in downstream industries in regions like the Americas, the Middle East and the Far East are likely to offer tremendous possibilities for polyethylene market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Polyethylene and its grades are exposed to the probability of volatility in supply and price of crude oil. Polyethylene and its grades have an adverse effect on environment and are prone to stringent regulations. Existing and future regulations concerning the use of polyethylene and its grades in end products are likely to challenge the market growth.
Polyethylene Market by Region
Asia was the largest consumer of polyethylene and its grades and this pattern is anticipated to continue to be identical over the following few years. Consumption in Asia is showing upward trend because of increase in economic activity in China and India. China and India were the largest consumers of polyethylene in this region, whereas Japan and South Korea are likely to grow at a higher pace. Growing demand from packaging, construction and other industries will drive polyethylene and its grades market in Asia. Consumption of polyethylene and its grades in rest of the world is likely to grow at a reasonable rate next to Asia. North America is likely to grow at a significant rate due to demand from packaging and construction industry. With major production capacities in USA, the region is likely to grow in terms of global supply capability. Demand from Europe was low relatively and is likely to stay same in the next few years and will continue focusing on exporting to Asia.
Top players in this market include Exxon Mobil Corporation, China National Petroleum Corporation, INEOS Group AG, Saudi Basic Industries Corporation, Braskem SA, Reliance Industries Limited, Dow Chemical Company, Formosa Plastics Group, China Petroleum & Chemical Corporation, Chevron Phillips Chemical Company LLC, DuPont (EI) de Nemours, LyondellBasell Industries NV and Total SA.
The report covers exhaustive analysis on:
- Global Market Size
- Global Market Segments
- Market Regional Analysis
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth