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Polyethylene Market Drivers Shaping Future Growth, Revenue USD 198.72 Billion by 2028 | CAGR 2.9%

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Polyethylene Market Drivers Shaping Future Growth, Revenue USD 198.72 Billion by 2028 | CAGR 2.9%

September 17
18:06 2021
Polyethylene Market Drivers Shaping Future Growth, Revenue USD 198.72 Billion by 2028 | CAGR 2.9%
Polyethylene Market
Rise in disposable income and surge in global population are factors expected to boost global polyethylene market revenue growth over the forecast period

The global polyethylene market size is expected to reach USD 198.72 Billion in 2028 and register a revenue CAGR of 2.9% over the forecast period, according to the latest report by Reports and Data. Demand for packaged goods has been rising substantially in the past decade due to changing lifestyle of consumers and rapid expansion across various industries where polyethylene is a major raw material and these factors are expected to boost market revenue growth over the forecast period.

Some major applications of polyethylene include polyethylene sheets, packaging bottles, and polyethylene tubing. Increased demand for such products is expected to significantly drive rising demand for and use of plastic containers in various end-use industries. In addition, rapidly increasing global population is expected to boost revenue growth of the market revenue going ahead.

Advantages associated with plastics such as low-cost imperviousness to water and ease of manufacturing have resulted in its extensive application in industries including construction and automotive industries. Increase in demand for plastic packaging solutions to protect various products is also driving market revenue growth. High tensile strength and rigidity of the material are encouraging rising demand for polyethylene in infrastructure and construction applications.

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However, availability of alternatives of polyethylene such as paper will hinder market growth. Rising concerns related to protection of the environment and volatile prices of raw materials will hamper market revenue growth to some extent. Furthermore, stringent regulations regarding usage of petrochemical products, increasing demand for green products, and ban on single-use plastic products will hamper growth of the market.

Some major players in the market include:

SABIC, Dow Chemical Company, LyondellBasell, Lone Star Chemical, Saudi Gazette KSA, Respol, Sinopec Corporation, Reliance Polymers, Exxon Mobil Corporation, and Orpic.

Some Key Highlights From the Report

In May 2021, LACTEL and INEOS partnered to produce world’s first HDPE milk bottles with circular polyethylene derived from post-consumer recycled material. LACTEL is the first dairy brand to explore sustainable solution of packaging. The new product will be used in Montauban production plant for an initial run.

Polyethylene film segment accounted for a significantly large revenue share in 2020 as it is one of the most common plastic films produced and used globally. Polyethylene films are provided in rolls that are lightweight, and offer durability and excellent tape adhesion. The material is used as a protective barrier in pest control, concrete and mortar, waterproofing, exterminating, painting, and renovation applications.

Low-density Polyethylene (LDPE) segment accounted for a significantly large revenue share in 2020. LDPE is resistant to impact, moisture, and chemicals. Most stock poly bags used to wrap a wide variety of products are made from low-density polyethylene. Flat poly bags, ziplock bags, and poly tubing are also made from LDPE. High demand for LDPE from various sectors is driving revenue growth of this segment to a significant extent.

Polyethylene films or sheets play a major role in construction applications and are used to protect structures from water seepage. It is also used in flooring, vapor retarders, counter-top protection, window films, and in roofing. These sheets can be used to cover building materials, seal off rooms, and is used in lead abatement projects. HDPE plastic sheeting is also used to protect ground water from toxic chemicals during oil drilling or landfills.

Europe accounted for a significantly large revenue share in 2020 due to increase in demand from the automotive industry in the region. Use of polyethylene in vehicles for its corrosion inhibition, low density, electric insulation, and excellent heat resistance is driving growth of the market. The region is registering high demand for polyethylene for packaging of beauty and skin care products, but stringent government regulations to curb usage of single-use plastic is a key factor hampering market growth.

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For the purpose of this report, Reports and Data has segmented the Polyethylene market based on type, product density, technology, end-use, and region:

Type Outlook (Revenue, USD Billion; 2018–2028)

Resin

Film

Product Density Outlook (Revenue, USD Billion; 2018–2028)

High-density Polyethylene

Medium-density Polyethylene

Low-density Polyethylene

Others

Technology Outlook (Revenue, USD Billion; 2018–2028)

Pipe Extrusion

Blow Molding

Injection Molding

Films and Sheets Extrusion

Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

Automotive

Packaging

Construction

Household Appliances

Electrical & Electronics

Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

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