Portland, OR, Sept. 08, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global high-performance polyethylene market was pegged at $1.1 billion in 2020, and is expected to reach $2.6 billion by 2030, growing at CAGR of 9.1% from 2021 to 2030.
Rise in demand for electric & electronic and textile products and increase need for food and agrochemicals across the globe drive the growth of the global high-performance polyethylene market. However, health issues related to long-term use of high-performance polyethylene and emergence of eco-friendly agriculture products hinder the market growth. On the contrary, developments in electrical and construction technology are expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The advent of the Covid-19 pandemic positively affected the demand for high-performance polyethylene for a short period. The surged demand for PPE and other disposable plastics also favored the market.
- The concern over the unparalleled use of single-use plastics during the pandemic significantly increased. This favored the demand for high-performance polyethylene.
The report segments the global high-performance polyethylene market on the basis of analysis application, end-user industry, and region.
On the basis of application, the protective coating segment dominated the market in 2020, contributing to around one-third of the market. However, the sports equipment segment is projected to manifest the highest CAGR of 10.6% during the forecast period.
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Based on end-user industry, the food & beverages segment held the largest share in 2020, accounting for more than one-fourth of the market. However, the textile industry segment is estimated to register the highest CAGR of 11.1% during the forecast period.
The global high-performance polyethylene market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the lion’s share in 2020, accounting for nearly one-third of the market. Moreover, the Asia-Pacific region is expected to portray the highest CAGR of 10.5% from 2021 to 2030.
The global high-performance polyethylene market includes an in-depth analysis of the prime market players such as TEIJIN LIMITED, Dow Chemical Company, DSM, Celanese, LyondellBasell, Braskem, Asahi Kasei Corporation, Sabic, Mitsui Chemicals, Inc., and Artek, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
