Polyethylene  Market Leading Players and Growth Drivers

The global polyethylene market size is expected to gain momentum from its increasing usage in a wide range of industries owing to various beneficial properties, such as high durability, easy customization, and resistance to moisture. This information is given by Fortune Business Insights™ in a new report, titled, “Polyethylene (PE) Market Size, Share & COVID-19 Impact Analysis, By Type (HDPE, LDPE, LLDPE), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Agriculture, Others), and Regional Forecast, 2020-2027.” The report further states that this market size was USD 107.43 billion in 2019 is projected to reach USD 130.26 billion by 2027, exhibiting a CAGR of 3.4% during the forecast period.

This Report Answers the Following Questions:

Fortune Business Insights™ lists out the names of all the PE manufacturers operating in the global market. They are as follows:

Segment-

Packaging Segment to Dominate: Demand from Food & Beverages Industry to Aid Growth

Based on the end-use industry, the automotive segment procured 5.3% in terms of polyethylene market share in 2019. The packaging segment, on the other hand, is expected to generate the largest share throughout the forthcoming years. This growth is attributable to the surging usage of polyethene in the manufacturing of numerous packaging solutions, especially in the food & beverages industry. 

Drivers & Restraints-

High Demand for Drippers & Nozzles at Irrigation Fields to Propel Growth

Polyethylene is nowadays being used extensively in the manufacturing of toys, sports goods, and fashion apparels. This is occurring because the material enables easy molding of products, provides flexibility & durability, and is capable of resisting physical stresses. The agriculture industry is also exhibiting high demand for the material because of the increasing demand for nozzles, micro tubes, emitting pipes, and drippers at irrigation fields. These factors are set to boost the polyethylene market growth in the near future. However, the prices of raw materials are fluctuating constantly, which, in turn, would impact the cost structure of the final product negatively. This factor may obstruct growth.

Competitive Landscape-

Key Players Focus on Launching Unique Products to Intensify Competition

The market consists of a large number of companies that are currently aiming to overtake their rivals in terms of revenue by introducing state-of-the-art polythene products. Some of the others are collaborating to develop such products. Below are two latest industry developments:

Regional Analysis-

Rising Usage in Automotive Industry to Favor Growth in Europe

Geographically, in 2019, Asia Pacific held USD 49.40 billion in terms of revenue. It is anticipated to lead the market in the coming years fueled by the high demand for PE from India and China. The material is utilized in the infrastructure & construction and packaging industries in these countries. In Europe, the U.S. is set to contribute to growth majorly because of the rising usage of the material in the automotive, as well as healthcare & pharmaceuticals industries.

Information Source:

https://www.fortunebusinessinsights.com/industry-reports/polyethylene-pe-market-101584