Widespread usage of polyethylene material in varied industry verticals including packaging, automotive, household, electronic and construction is boosting demand for the polyethylene market. A market report by IndustryARC estimates that the global polyethylene market, which was valued at $182 billion in 2018, is estimated to grow at a CAGR of 3.8% throughout the forecast period 2019-2025.
The report by IndustyARC titled, “Polyethylene Market: By Product (High-Density Polyethylene, Linear Low-Density Polyethylene, and Low Density Polyethylene), By Application (Packaging, Consumer Goods, Construction, Other), & By Region-Forecast (2019-2025)”, gives information related to market size, market share, market drivers, trends, opportunities, strategic analysis, geographical analysis and segments analysis of the global polyethylene market.
Polyethylene Market: Leading Segments
Food Safety and Standards Authority of India (FSSAI) has specified that polyethylene is recommended as a safe material to pack the food stuffs, drinking water and pharmaceutical products. Packaging regulations enhance safety and longer shelf-life of food products, which in turn improves food security. High-density polyethylene (HDPE) and low density polyethylene (LDPE) are the most commonly used types of polyethylene. Increasing demand for HDPE in production of packaging materials is contributing to growth of the packaging application share in the polyethylene market. Packaging application is set to grow at a CAGR of 4.5% over the forecast period.
China recorded the highest import value of $8.82 billion for polyethylene in 2018 and occupied the largest share of about 27.7% in the world polyethylene imports. Additionally, China experienced a 17% annual growth in the import value of polyethylene from 2017 to 2018. All the above factor clearly indicate rising demand for polyethylene in China, which indirectly impacts share of the APAC region in the global polyethylene market. Thus, APAC was leading the global polyethylene market, with a regional share of 42.8% in 2018.
Polyethylene Market: Disruptive Trends
Polyethylene is being widely adopted in storage applications because of its excellent chemical resistant properties.
Polyethylene packaging material is preferred for a wide variety of food products packaging especially milk and milk products, fats, oils and fat emulsions, fruit and vegetable products, cereals and cereal products, fish and seafood, salt, spices, condiments and fruits and vegetable-based beverages.
Properties of polyethylene which include a fully recyclable, weather-resistant, lightweight, and corrosion-resistance nature are driving polyethylene demand across varied end user industries.
Emergence of polymer technologies has resulted in development of LDPE with enriched thermal properties. LDPE is extensively used in power transmissions, electronics, and household goods, especially in manufacturing of kitchen equipment, industrial storage and transportation industries as well.
Polyethylene Market: Major Players
Some of the prominent players operating in the global polyethylene market are E. I. du Pont de Nemours and Company, SABIC, BP PLC, INEOS, BASF, SINOPEC, LyondellBasell Industries, Chevron Phillips, Formosa Plastics Ltd, Hanwha Group, Mitsui Chemicals Incorporated, Repsol SA, and Total SA.
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