According to the report, global Polyethylene Market was valued at around USD163 Billion in 2017 and is expected to reach approximately USD 215 Billion by 2024, growing at a CAGR of slightly above 4% between 2017 and 2024.
New York, NY, May 24, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Polyethylene Market by Types (High Density Polyethylene, Low Density Polyethylene, and Others) by Applications (Wires, Plumbing, Automotives, and Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2025’’. According to the report, global Polyethylene Market was valued at around USD163 Billion in 2017 and is expected to reach approximately USD 215 Billion by 2024, growing at a CAGR of slightly above 4% between 2017 and 2024.
Polyethylene also called as the vinyl polymer is made from monomer ethylene through a polymerization reaction. It has a variable crystalline structure with a wide range of applications. Characteristically, a single molecule of polyethylene comprises of long-chain carbon atoms with two hydrogen atoms bonding with a carbon atom each. Low-density polyethylene (LDPE) and high-density polyethylene (HDPE) are the two most common forms of polyethylene in the market today. LDPE contains branched polyethylene structure whereas HDPE is a linear polyethylene molecule. HDPE has higher strength than that of LDPE.
Browse through 71 Tables & 22 Figures spread over 130 Pages and in-depth TOC on “Global Polyethylene Market Size & Share Report 2017: Industry Demand, Growth Analysis, and Forecast, 2024”.
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Features like easy processing, low production cost, easy feedstock availability and recyclability make polyethylene, most sought out plastics in the world. Polyethylene is used in wide range of applications. Applications of polyethylene range from bottles, containers, bags, and food wraps. Polyethylene is modified into fine synthetic fibers thereby giving it an elastic property to that of a rubber.
Polyethylene market is segmented in terms of types and applications. By types, polyethylene market is classified into high-density polyethylene (HDPE), low-density polyethylene (LDPE) and others. Of both types, HDPE has large market share compared within global polyethylene market owing to its low manufacturing cost, high demand and sturdy properties. Bottles, containers, insulators are some of the common applications of HDPE across the globe. By application, global polyethylene market is bifurcated in terms of automotive, plumbing, wires, and others.
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The positive economic outlook of developing economies, low feedstock cost, diversifying consumer goods industry, rising investment in infrastructure sector, low processing cost are some of the factors driving polyethylene market for the forecast period. According to World Bank estimates global investment in infrastructure is expected to reach $ 94 billion by 2040. Majority of the investments in infrastructure is directed towards the development of sustainable living spaces, electricity and sanitation. Factors like rising demand for green plastics, stringent government regulations towards using petrochemical products, increasing investments in plastic recycling plants, and fluctuating fossil fuel prices are restraining polyethylene market for the forecasted period.
North America and Europe polyethylene market are growing steadily in tandem with the overall plastic market, for the forecasted period 2017-2024. Both North America and Europe lead globally in terms of plastic consumption. Today an average individual consume 100 kg per annum of plastics according to World Watch Institute across North America and Western Europe. Majority of the consumption are in the form of packaging. For FY 2018, revenue of polyethylene market in North America is anticipated to touch approximately $ 35 billion. Rising investments in commercial construction and expanding consumer electronics market are driving polyethylene market in North America. North America accounts for approximately 14% of total global plastic production capacity in 2017.
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Polyethylene production across Europe has been stable in recent years. The share of Europe polyethylene production is falling with expanding capacity in other parts of the world. Polyethylene production (both HDPE & LDPE) in Europe is anticipated to increase marginally (≈1-2%) for FY 2018 and FY 2019. Increase in polyethylene production is likely to be led by expanding the capacity of HDPE plants in Russia. Commercial partnerships between producers and recyclers have gained momentum across Western Europe in last five years especially for automotive sectors in Germany and UK. In order to tackle widespread barriers pertaining production & recycling, EU Commission is launching an action plan Q2 2018, such that more than ten million tonnes of recycled plastics are incorporated into new products by 2025. Germany, UK, France, Italy, Spain, and Poland are leading consumers of plastics in Europe with an average consumption of more than 3000 mt according to PlasticsEurope.
The Asia Pacific and Latin America are amongst the fastest growing markets for polyethylene for the forecast period. Polyethylene market in the Asia Pacific is driven by expanding middle-class consumers and thriving industries. According to Vinyl Council of Australia, polyvinyl chloride (PVC), a common form of polyethylene in the Asia Pacific is anticipated to reach approximately 50 million metric tons by 2025 increasing from 32 million metric tons in 2017. China and India are the key drivers of polyethylene market in the Asia Pacific. Thailand, Vietnam, and Japan are amongst other key markets for polyethylene in the Asia Pacific. Demand for polyethylene products in Latin America for the forecast period will be in line with countries GDP growth post-2016 recession. Argentina and Brazil, two major economies in the region is anticipated to lead the consumption and production of polyethylene in Latin America. Construction, packaging and electronics are major sectors in focus for polyethylene market in Latin America.
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Key players within global polyethylene market are Dow Du Pont Inc., Exxon Mobil Corp., SABIC., Borealis AG., INEOS., Lyondell Basell Industries Holdings., SINOPEC., Sumitomo Chemical Co Ltd., China Petrochemical Ltd., NOVA Chemical Corp., Reliance Petrochemicals Ltd., Formosa Plastics Corp., China National Chemical Corp., Arkema SA., Chevron Phillips Chemical Company LIC.
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The report segments global corrugated packaging market as follows:
Polyethylene Market: Flute Profile Segment Analysis
- High-Density Polyethylene
- Low-Density Polyethylene
Polyethylene Market: End-Use Industry Segment Analysis
Polyethylene Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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