Cross Linked Polyethylene Market
Polyethylene is a low-cost commodity plastic with thermoplastic nature. Cross-linked polyethylene (PEX) is a type of polyethylene containing cross-linked bonds. These cross-linking bonds which are present in the polymer structure converts the thermoplastic to a thermoset material. Generally, cross-linked polyethylene is abbreviated as PEX for piping & tubing application and XLPE for wires & cables application.
Cross linked polyethylene are segmented into three product types namely high density polyethylene (HDPE), low density polyethylene (LDPE), and others (include linear low density polyethylene (LLDPE), ethylene vinyl acetate copolymer (EVA), and polyolefin elastomer (POE)). These types of cross-linked polyethylene are used in various applications such as plumbing, wires & cables, automotive, and others (include mining, chemical industry, dental, and solar). HDPE cross-linked polyethylene (PEX) are used mainly in plumbing application, whereas all LDPE cross-inked polyethylene (XLPE) are used mainly in wires & cables. The HDPE cross-linked polyethylene (PEX) was the largest segment in the global cross linked polyethylene market in 2022, and the trend is expected to remain the same during the forecast period. This is due to the growing population, which in turn is leading to the growth in residential & commercial construction activities in developing regions such as Asia-Pacific, Latin America, and Africa. Owing to this, the demand for plumbing applications is increasing rapidly due to the need for tubing and piping to transport heated water as well as cold water in residential & commercial construction. Moreover, due to high flexibility, corrosion & thermal resistance, and low cost as compared to conventional metallic pipes, the global cross linked polyethylene market is growing at a CAGR of 7.47% during 2023-2030, according to Coherent Market Insights.
Cross-linked polyethylene have wide applications in wires & cables. For instance, cross linked polyethylene is used as a perfect insulator for wires and cables due to its high resistant property to temperature and chemicals to prevent sparking, shocking, and fire. Increasing construction activities around the world are leading to the increasing demand for electrical cables & wires which in turn is propelling the growth of cross-linked polyethylene market globally.
Market Dynamics
The increasing preference of auto manufacturers for the use of cross-linked polyethylene, due to considerable cost reductions, light weight, excellent performance, and other benefits offered by these products, fuels the growth of cross linked polyethylene market. Moreover, favorable government regulations is expected to boost the global cross linked polyethylene market growh.
Asia Pacific followed by North America and Europe is expected to dominate the market in 2022 and the trend is expected to remain the same during 2023-2030. Continuous infrastructure development in China and India includes sanitation, sewage, and water distribution systems. This in turn, is projected to position Asia Pacific as the largest and fastest-growing region in the global cross linked polyethylene market. Moreover, Latin America is expected to experience a CAGR of 6.7% in terms of volume, during the forecast period, due to growing plumbing activities in industrial and residential establishments.
Market Taxonomy
This report segments the global cross linked polyethylene market on the basis of product type and application. On the basis of product type, the market is segmented as HDPE, LDPE, and others. On the basis of application, the global cross linked polyethylene market is segmented as plumbing, wires & cables, automotive, and others. Moreover, plumbing is the largest application segment, accounting for over 45% share of the global crosslinked polyethylene market in 2022, while automotive is projected to be the fastest-growing application segment and expected to grow at a CAGR of 7.1% in terms of revenue during the forecasted period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 90 market data tables and 40 figures on "Cross linked Polyethylene Market - Global forecast to 2030”.
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