The global cross-linked polyethylene market size is expected to reach USD 8.60 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a 6.0% CAGR over the forecast period. Increasing demand from wires and cable insulation sector and plumbing products manufacturing is likely to boost the market growth. Cross-linked polyethylene based plumbing products utilized in hot water supply system are required for their high creep resistance & mechanical strength at high temperature
Cross-linked polyethylene is most commonly utilized in plumbing and wires and cable insulation industry supported by their mechanical as well as chemical properties such as enhancement of chemical and oil resistance in at elevated temperatures, high tensile strength, impact resistances and elongation and impact resistance, etc. Availability of alternative materials such as polypropylene pipe, corrugated stainless steel tubings, aluminium plastic composite for plumbing application may impact the demand of cross-linked polyethylene over the coming years
The PEX market is segmented based on type into high density polyethylene (HDPE), Medium density polyethylene (MDPE) and low density polyethylene (LDPE). HDPE was the largest segment and accounted for 48.4% of the global revenue in year 2018. Cross-linked HDPE provides two advantages as compared to its alternatives which include improved heat resistance and oil resistance, which can be useful for wire and cable insulation and jacketing application
Increasing demand for reliable, efficient energy and data communications will strengthen the demand for wires and cables which in turn is expected to push the consumption growth of cross-linked polyethylene over the forecast years
Growing demand for wires and cables across Asia-Pacific region supported by growing urbanization and infrastructural activities is expected to push the demand for cross-linked polyethylene over the coming years
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www.grandviewresearch.com/industry-analysis/cross-linked-polyethylene-pex-market
Further key findings from the report suggest:
- Peroxide production technology segment wields maximum share in the global cross-linked polyethylene market by the end of 2018. Plumbing products which are made up of peroxide cross-linking have better performance, such as thermal shock resistance and creep resistance as compared to the products made by other methods such as silane grating and electron beam processing.
- Plumbing was the prominent application segment in 2018 and accounted for 52.7% of global market value. Asia-Pacific, spearheaded by China accounted for maximum share in the market across the globe and is expected to continue its dominance over the coming years
- Capacity expansions and acquisitions are some of the strategies adopted by the prominent manufacturers in order to enhance their presence in the market as well as to expand their existing product portfolio. For instance, in October 2017, Armacell has announced the expansion of its cross-linked polyethylene manufacturing capabilities in U.S. to complement its existing capabilities
- Key players include Borealis AG, The Dow Chemical Company, LyondellBasell Industries Holdings B.V, PolyOne Corporation, SABIC, Arkema, Exxon Mobil Corporation, Armacell, etc.
