Pune, India, Feb. 22, 2021 (GLOBE NEWSWIRE) — Global Polyethylene Market Overview:
Market Research Future (MRFR) projects the Polyethylene Market value of USD 1,83,724.4 Million by 2025 while escalating at a 5.82% CAGR in the forecast period.
Polyethylene is the most extensive and universal synthetic polymer consumed throughout the world, reporting for over a third of the international annual plastic manufacturing yield. It belongs to the thermoplastic polymers collection and can be fashioned as per the industries’ prerequisite. Polyethylene can be derived using ethylene’s polymerization process, and the process consists of anionic addition polymerization, cationic addition polymerization, radical polymerization, or ion coordination polymerization.
Future Market Growth Factors:
Plastic production has seen extensive environmental inspection, with present estimates stating a massive amount of plastic waste has been formed to date, of which just 9% has been recycled. However, many contenders in the market are still expanding their production capacities to meet polyethylene’s surging demand. For instance, Hengyi Industries Sdn. Bhd., has carefully chosen Univation Technologies’ UNIPOL PE Procedure for its world-scale 600,000 TPY polyethylene (PE) plant to be situated in Palau Muara Besar, Brunei. The novel PE plant will be combined into a greater refinery and petrochemicals project positioned on a 14-million metric tons/year crude oil refinery that will consist of 11.2 million metric tons/year of downstream capacity manufacturing polyethylene (PE), among others. The project will also consist of the capacity to manufacture 6.33 MMt/y of fuels.
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The packaging industry is a major consumer as it is a combined sector, which is gaining immense traction to support the fast-tracked demand for polyethylene (PE). HDPE is also widely leveraged in nets for agricultural use, fishing and sports nets, ropes, Industrial and decorative fabrics, etc. The study into the practical usage of forced degradation of polymers by means of specialist bacteria is being conducted to understand the molecular weight and density profiles of common polymeric products and deal with the problem of plastic waste. Additionally, it is vital to research the repercussions of plastics use as they can be degraded under specific environmental circumstances to extensively reduce the creation of hazardous microplastics that can infiltrate human food chains.
The agricultural sector is predicted to contribute to augmenting the polyethylene market due to the rising demand for nozzles and drippers at irrigation fields. The presentation and development of bio-degradable polyethylene are projected to offer various market growth opportunities in the coming period. The availability of PE substitutes such as; polypropylene and polyethylene terephthalate (PET) are expected to hinder the market development in the coming period. The growing environmental protection and health awareness are expected to hinder the market growth.
The increasing imposition of stringent rules and regulations is anticipated to confine the polyethylene market from growing in the forecast period. Furthermore, the development of the construction sector has also contributed to the development of the global market as pipes fabricated from polyethylene are being used extensively due to a low degree of branching and therefore sturdier intermolecular forces ductile strength. Many companies in the market are considering expansion opportunities, such as Sidi Kerir Petrochemicals Company (Sidpec), which is looking to import different polymers’ grades for local use. Through this decision, the firm observed that it would profit from continuing international weakening in petrochemical prices. With respect to capital expenditure, the company has set up properties to take and stock the imported products.
The type segments in the polyethylene market are medium-density polyethylene (MDPE), low-density polyethylene (LDPE), and high-density polyethylene (HDPE). LDPE segment has been found to reflect the maximum polyethylene market share. Low-Density Polyethylene (LDPE) primarily revolves around dispensing bottles, computer components, plastic bags, wash bottles, industrial containers, tubing, and numerous molded laboratory equipment. The most popular application of low-density polyethylene is plastic bags. Still, they are being banned in several countries due to their negative impact on the environment, which has led to a preference for other materials in making carrying bags.
The polyethylene market’s technology segment comprises injection molding, pipe extrusion, films & sheets extrusion, blow molding, and others. The films & sheets extrusion segment has controlled the polyethylene market by raising substantial market revenue. The polyethylene market’s end-user segment consists of automotive, electrical & electronics, packaging, construction, household applications, and others. The packaging segment is ahead in terms of revenues, and the market demography is anticipated to remain the same in the forthcoming period.
Browse In-depth Market Research Report (252 Pages) on Polyethylene: https://www.marketresearchfuture.com/reports/polyethylene-market-1056
Key Players Locking Horns:
The eminent contenders in the Polyethylene Market are:
- Exxon Mobil Corporation (the U.S.)
- China Petrochemical Corporation (China)
- SABIC (Saudi Arabia)
- Chevron Phillips Chemical Company (the U.S.)
- INEOS Group Holdings SA (the U.K.)
- Sumitomo Chemical Co. Ltd (Japan)
- Formosa Plastics Corporation (Taiwan)
- Sasol Ltd. (South Africa)
- LyondellBasell Industries NV (the Netherlands)
- Petronas Chemicals Group Berhad (Malaysia)
- Mitsui Chemicals Inc. (Japan)
- DowDuPont (the U.S.)
The advancement of production capacities is estimated to be a notable trend among the primary contenders operating in the polyethylene market. The accessibility to a greater degree of funding is likely to spur the polyethylene market.
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The APAC region leads the polyethylene market and has important factors that can push the polyethylene market forward with the uppermost CAGR throughout the forecast period. The emerging countries in the region such as Indonesia, India, China, and others have a stimulating effect on their industrial sectors, producing a viable thrust to the polyethylene market. The urbanization in several regions is also observing speedy progress, demonstrating to be useful for the regional polyethylene market. The European polyethylene market has the second principal market, followed by the North American polyethylene market.
Discover more research Reports on Chemicals Industry , by Market Research Future:
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 2025
Polyethylene Terephthalate Market Research Report: Information by Processing Technology (Blow Molding, Injection Molding, Extrusion, 3D Printing), Grade (Textile Grade, Bottle Grade, Film Grade), End-Use Industry (Textile, Packaging, Automotive, Electrical & Electronics, Medical), and Region (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa)—Forecast till 2025
High-Density Polyethylene Market : Information by Product Type (Injection Molded, Blow Molded, HDPE Pipes, HDPE Films), End-Use Industry (Packaging, Building & Construction, Automotive, Consumer Goods), and Region — Global Forecast till 2023
Low-density Polyethylene Market : Global Information by Manufacturing Process (Autoclave Method, Tubular Method) Application (Film & Sheets, Extrusion Coating, Injection Molding, Others) Region (North America, Asia-Pacific, Europe) — Global Forecast till 2023
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