Polyethylene (PE) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Polyethylene Market
The polyethylene market size was valued at USD 110.23 billion in 2023, and the market is now projected to grow from USD 114.89 billion in 2024 to USD 158.49 billion by 2032, exhibiting a CAGR of 4.1% during the forecast period of 2023-2032.
During the COVID-19 pandemic, the polyethylene supply was significantly impacted as demand from industries like automotive, electrical and electronics, and consumer goods decreased. This decline was directly tied to the decrease in crude oil prices, which resulted from a collapse in demand and an oversupply in the market. As a consequence, product prices fell and hindered overall polyethylene market growth.
The demand for merchandise is gaining momentum leading to polyethylene market share in diverse industries consisting of automotive, electric and electronics, meals and beverage, and client items. Properties, which include high tension, make it suitable for business makes use of, especially for packaging automotive and electrical spare elements. In the automobile industry, manufacturers attention on increasing automobiles' performance with the aid of lowering their weight. PE is favored as it's far mild in weight and gives smooth processability, sealing, and stiffness houses.
Manufacturers select PE for the packaging of meals, liquids, and customer goods because of its residences which include resistance to moisture, clean customization, and durability. Polythene is a cost-effective material that acts as an advantage for the motive of packaging. Easy recyclability, resistance to chemical substances, and potential to guard the contained product from any external disturbances have made this polymer a really perfect cloth. It is showcasing a propelling call for from the purchaser items, meals, and beverage industries thanks to the above-noted factors.
Comprehensive Analysis of Polyethylene Market
By kind, the market is segmented into High-density Polyethylene (HDPE)/Medium-density Polyethylene (MDPE), Low-density Polyethylene (LDPE), and Linear Low-density Polyethylene (LLDPE). Amongst these, the HDPE segment holds the most important polyethylene marketplace percentage because of its traits inclusive of low manufacturing fee, excessive energy-to-density ratio, and excessive-temperature resistance. Based on give up-use enterprise, the marketplace is classified into packaging, automotive, infrastructure.
North America generated a revenue of USD 52.89 billion in 2023. The area is predicted to develop at the best boom price at some stage in the forecast duration due to the location's main eating international locations together with China and India.
The top gamers within the marketplace play a important function within the healthcare enterprise assuring commercial prospectus increase and putting marketplace requirements. These gamers include, LyondellBasell Industries N.V. (Netherlands), ExxonMobil Chemical (U.S.), SABIC (Saudi Arabia), Reliance Industries Limited (India), INEOS (U.K.), China National Petroleum Corporation (China), China Petroleum and Chemical Corporation (China), Ducor Petrochemicals (Netherlands), Formosa Plastic Group (Taiwan), Braskem (Brazil), Repsol (Spain), Borouge (UAE), Borealis AG (Austria), and MOL Group (Hungary) these market gamers offer a level-playing competitive panorama.
In November 2023, NOVA Chemicals Corporation and Amcor announced the signing of a Memorandum of Understanding (MoU) for robotically recycled polyethylene. As in line with the settlement, NOVA Chemicals Corporation, the leading manufacturer of polyethylene, could deliver routinely recycled polyethylene to Amcor, a prominent international packaging solutions manufacturer.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth RateCAGR of 4.1% from 2024 to 2032
Unit Value (USD Billion); Volume (Million Ton)
Segmentation By Type
High-density Polyethylene (HDPE)/ Medium-density Polyethylene (MDPE)
Low-Density Polyethylene (LDPE)
Linear Low Density Polyethylene (LLDPE)
By End-use Industry
Packaging
Automotive
Infrastructure & Construction
Consumer Goods/Lifestyle
Healthcare & Pharmaceuticals
Electrical & Electronics
Agriculture
Others
By Geography
North America (By Type, By End-use Industry, By Country)
- U.S.
- Canada
Europe (By Type, By End-use Industry, By Country)
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific (By Type, By End-use Industry, By Country)
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America (By Type, By End-use Industry, By Country)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa (By Type, By End-use Industry, By Country)
- South Arabia
- UAE
- Egypt
- Rest of the Middle East & Africa
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