New York, Sept. 10, 2021 (GLOBE NEWSWIRE) -- Cross-Linked Polyethylene (XLPE) Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Cross-Linked Polyethylene (XLPE) Market Research Report: By Type (High-Density Polyethylene, Low-Density Polyethylene, Others), By Technology (Peroxide Method, Silane Grafting Method, Electron Beam Processing), By Process (Chemical, Physical) and By Application (Plumbing, Wires & Cables, Medical, Chemical, Automotive, Others) – Forecast to 2028” the market size is projected to be worth USD 6.89 billion by 2028, registering a CAGR of 5.83% during the forecast period (2021 - 2028), The market was valued at USD 3.21 Billion in 2020.
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Market Competitive Landscape:
List of the main companies profiled in the cross-linked polyethylene market report are:
- Borealis AG (Austria)
- LyondellBasell Industries Holdings B.V. (The Netherlands)
- Exxon Mobil Corporation (U.S.)
- Falcone Specialities AG (Switzerland)
- SACO AEI Polymers (U.S.)
- SILON s.r.o. (Czech Republic)
- Solvay (Belgium)
- PolyOne Corporation (US)
- 3H VINACOM CO., LTD (Vietnam)
- HDC HYUNDAI EP COMPANY (South Korea)
- SANKHLA POLYMERS PVT LTD (India)
- Charloma Inc (U.S.)
Market USP Covered:
Drivers:
In the global PEX market, automotive is one of the fastest-growing application segments. The PEX market is being driven by the use of PEX in the manufacture of automobile parts and components. In addition, as PVC's market share declines, the likelihood of other materials, such as PEX, being used for insulation in automotive wires and cables is expected to rise during the forecast period.
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Restraints:
PEX tubing should not be utilized in applications that are exposed to direct sunlight since it degrades quickly. When exposed to sunlight, the molecular structure of the pipe breaks down, making it delicate and prone to rupture. If exposed to direct sunlight for as little as 30 days, the tubing may succumb to embrittlement and fail prematurely. As a result, PEX is not recommended for use in outdoor settings or sites exposed to sunlight. This physical characteristic is restraining the market growth.
Market Segmentation
The segmentation of the cross-linked polyethylene market is done by technology, type, application, and process. By technology, the peroxide method held the largest market share due to its ability to manufacture the highest resistance to stress cracking. By type, the HDPE is the most widespread segment due to its application in tubes and pipes. By process, the chemical segment holds the largest market share. By application, the plumbing category dominated the market in 2018.
COVID-19 Analysis
Consumers, businesses, and communities worldwide are concerned about the COVID-19 pandemic, which is causing economic imbalances. Tier-1 and Tier-2 PEX-producing companies across the globe have also been forced to cease operations. In several PEX-producing countries, the pandemic has resulted in production halts, labor shortages, and logistical disruptions.
End-use industries such as construction, chemicals, automotive, consumer goods, and packaging have been hampered by the pandemic. These industries necessitate a robust distribution network as well as a high level of transportation activity. However, due to lockdown and transportation bans in many countries, these end-use industries cannot meet user demands, limiting the PEX market's growth. However, Despite the virus outbreak, demand for PEX in the medical and healthcare industries will boost the market.
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Regional Insights
In 2018, Asia-Pacific was the largest and fastest-growing market for XLPE, and it is expected to grow at a significant CAGR over the review period. The growing industrialization and expanding construction, electronic goods, and automotive industries are responsible for this expansion. As a major electronics hub, China is expected to be the region's leading country, with high use of XLPE compared to other high-voltage resistant materials. India, South Korea, New Zealand, Japan, and Australia are expected to contribute to the regional market's expansion. The expanding use of XLPE in plumbing applications in residential structures and industries is driving the expansion of the North American cross-linked polyethylene market. The United States is likely to be the region's most important market. Increased vehicle manufacturing and rising demand for XLPE in medical packaging solutions and dentistry materials are likely to fuel market expansion in Europe. The construction and automotive industries are expected to fuel market expansion in the Middle East and Africa. The increased demand for XLPE in plumbing and water distribution systems is driving the expansion of the cross-linked polyethylene market in the area.
Market Scope:
Polyethylene is a reduced-cost commodity plastic that can be reused and remolded due to its thermoplastic nature. Polyethylene cross-linking produces a polymer with a high molecular weight, which improves thermal resistance, abrasion resistance, impact strength, and environmental stress cracking resistance without compromising tensile strength or density. Furthermore, after cross-linking, the end product is converted from a thermoplastic to a thermosetting plastic with high tensile properties.
Due to their rusting, cost, and circulation, cross-linked polyethylene is primarily used in the pipe and plumbing industry to replace traditional materials such as copper, galvanized steel, and PVC piping. Polyethylene cross-linking aids in the resolution of plumbing issues and makes installation easier. PEX has several advantages in the plumbing industry, including flexibility, lower material costs, easier installation, and environmental benefits. Because of its superior insulating properties and flexibility, cross-linked polyethylene is also used as an insulation material in wires and cables.
Segmentation of Market covered in the research:
Cross-Linked Polyethylene (XLPE) Market Research Report: By Type (High-Density Polyethylene, Low-Density Polyethylene, Others), By Technology (Peroxide Method, Silane Grafting Method, Electron Beam Processing), By Process (Chemical, Physical) and By Application (Plumbing, Wires & Cables, Medical, Chemical, Automotive, Others) – Forecast to 2028
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