Cross-linked Polyethylene (PEX) Market by Type (HDPE, LDPE), Technology (PEXa, PEXb, PEXc), End-use Industry (Wires & Cables, Plumbing, Automotive), Region (North America, Europe, Asia Pacific, South America, MEA) - Global Forecast to 2028

Cross-linked Polyethylene (PEX) Market by Type (HDPE, LDPE), Technology (PEXa, PEXb, PEXc), End-use Industry (Wires & Cables, Plumbing, Automotive), Region (North America, Europe, Asia Pacific, South America, MEA) - Global Forecast to 2028

The cross-linked polyethylene (PEX) market is projected to grow from USD 7.6 billion in 2023 to USD 11.0 billion by 2028, recording a CAGR of 7.6% during the forecast period. Cross-linked polyethylene (PEX) has been steadily gaining traction in various industries, particularly in plumbing and wire & cable end-use industry. This rise in popularity can be attributed to the numerous advantages it offers compared to traditional materials like copper or CPVC. Notably, cross-linked polyethylene (PEX) demand has seen a significant surge in the Asia Pacific and North American markets, primarily due to the discontinuation of alternative piping materials such as polybutylene, polyvinyl chloride (PVC), chlorinated polyvinyl chloride (CPVC), and copper tubing, which were previously prevalent.

One sector poised to play a pivotal role in driving the cross-linked polyethylene (PEX) market in the future is the solar industry. Producers are consistently seeking alternatives to the costly traditional materials used in solar applications. Cross-linked polyethylene (PEX) pipes have emerged as a flexible and reliable plastic material for solar water heating systems. Their exceptional resistance to high temperatures and UV exposure makes them a preferred choice for outdoor installations in solar energy setups.

Another key area where cross-linked polyethylene (PEX) is gaining substantial traction is in the wires & cables segment. This sector is poised for significant growth due to increasing demands from both the power industry and the burgeoning automotive sector. In particular, the wires & cables market is ripe with opportunities in emerging economies across the Asia Pacific region. Rapid urbanization and continuous investments in industrialization are driving up the demand for reliable and efficient wiring and cable solutions, making cross-linked polyethylene (PEX) an attractive choice.

“HDPE segment is estimated to dominate the overall cross-linked polyethylene (PEX) market.”

HDPE stands out as the primary type of cross-linked polyethylene (PEX) with the greatest global utilization in both value and volume. Cross-linked HDPE finds extensive application in plumbing, particularly in pipes and tubing. The exceptional blend of characteristics positions HDPE as an ideal material for diverse applications spanning various industries. HDPE pipes are notably prevalent in a wide array of uses, such as the establishment of pipelines for water and gas transportation due to their advantages of swift installation, flexibility, lightweight nature, and cost-effectiveness. In addition, HDPE pipes are frequently chosen for liquid transfer within the agricultural sector. These inherent properties render them well-suited for deployment in construction and industrial domains. This escalating demand for HDPE is poised to propel the overall growth of the cross-linked polyethylene (PEX) market. The rising demand for HDPE can be attributed to several factors, including its versatility, cost-efficiency, and suitability for various applications. Additionally, the ease of installation and adaptability of HDPE pipes make them an attractive choice for numerous industries. As industries continue to expand and modernize, the demand for reliable, durable, and cost-effective piping solutions like HDPE is expected to increase. Furthermore, environmental considerations and regulations promoting sustainable materials are likely to drive the adoption of HDPE, further boosting its demand and subsequently contributing to the growth of the overall cross-linked polyethylene (PEX) market.

“PEXa is the largest market for cross-linked polyethylene (PEX) by technology.”

PEXa stands out as the largest market for cross-linked polyethylene (PEX) by technology in terms of both value and volume. Peroxide technology, often referred to as PEXa, holds several advantages over other methods of cross-linking polyethylene (PEX), and these advantages are expected to drive the market for cross-linked polyethylene. PEXa achieves a high degree of cross-linking within the polyethylene molecules. This results in improved strength and durability of the PEX pipes and makes them suitable for various applications, including plumbing and heating systems. PEXa pipes exhibit excellent resistance to chemicals, including chlorine and other disinfectants commonly found in water supplies. This resistance helps maintain the integrity of the pipes over time, reducing the risk of corrosion and deterioration. Additionally, PEXa pipes are known for their flexibility, which allows for easier installation, even in challenging and cold weather conditions. They can expand and contract without rupturing, making them highly resistant to freezing and thawing cycles. Hence, PEXa technology is expected to continue driving the market for cross-linked polyethylene (PEX) pipes, especially in applications where durability, flexibility, and resistance to chemical and temperature extremes are essential considerations.

“Wires & Cables is the largest market for cross-linked polyethylene (PEX) by end-use industry.”

Cross-linked polyethylene (PEX) finds its predominant application in the wires and cables industry due to its exceptional resistance to flame and heat deformation. This property renders it highly suitable for use in wires and cables. The process of cross-linking imparts outstanding dielectric characteristics to polyethylene, ensuring it maintains its structural integrity even when exposed to temperatures beyond its softening point. The expanding transmission and distribution networks within the electrical and communication sector in developing nations are serving as a catalyst for market growth.

Additionally, the automotive sector represents the fastest-growing end-use industry for cross-linked polyethylene (PEX). This growth is particularly pronounced in the electric vehicle (EV) segment, as cross-linked low-density polyethylene (LDPE) is extensively employed in automotive cables and wiring. The burgeoning electric vehicle industry is set to significantly boost the demand for cross-linked polyethylene (PEX) in the near future.

“Asia Pacific is projected to be the largest cross-linked polyethylene (PEX)market.”

The cross-linked polyethylene (PEX) market in Asia Pacific is projected to register the highest CAGR between 2023 and 2028. The Asia Pacific region is experiencing a growing demand for PEX (cross-linked polyethylene) in various sectors, including plumbing, wires & cables, and automotive applications. This demand surge is primarily fueled by countries like China, Japan, and Australia. Furthermore, government initiatives aimed at promoting clean and green energy, such as the installation of solar power plants and windmill-powered plants, are expected to boost the requirement for wires & cables, indirectly benefiting the PEX market in the region.

In addition to the energy sector, the Asia Pacific region has also witnessed a notable increase in construction activities. This construction boom has led to a heightened demand for cross-linked polyethylene products, particularly in the form of pipes and cables.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the cross-linked polyethylene (PEX) marketplace.

Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and information was gathered through secondary research.

The break-up of primary interviews is given below:

By Company Type - Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%

By Designation – C level Executives – 21%, Director level – 23%, and Others* – 56%

By Region – North America – 30%, Europe – 18%, Asia Pacific – 41%, Middle East & Africa – 5%, South America – 6%.

Notes: *Others include sales, marketing, and product managers.

Notes: Tier 1: >USD 5 Billion; Tier 2: USD 1 Billion– USD 5 Billion; and Tier 3:

Companies Covered: The companies profiled in this market research report include Dow, Inc. (US), Borealis AG (Austria), LyondellBasell Industries Holding B.V. (Netherlands), Avient Corporation (US), Exxon Mobil Corporation (US), Finproject S.p.A. (Italy), SACO AEI Polymers (US), HDC Hyundai EP Company (South Korea) and 3H Vinacom Co., Ltd (China) among others.

Research Coverage:

The market study covers the cross-linked polyethylene (PEX) market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on technology, end-use industry and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the cross-linked polyethylene (PEX) market.

Key Benefits of Buying the Report

The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall cross-linked polyethylene (PEX) Market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Superior characteristics compared to conventional materials, Growing demand from automotive industry, Extensive use in the medical packaging industry, Growth in solar energy sector to boost the market) opportunities (Increasing demand for cross-linked HDPE), and challenges (Rise in preference for polypropylene pipes, Fluctuation in raw material prices) influencing the growth of the cross-linked polyethylene (PEX) market.

Product Development/Innovation: Detailed insights on upcoming technologies, research &

development activities, and new product & service launches in the cross-linked polyethylene (PEX) market

Market Development: Comprehensive information about lucrative markets – the report analyses

the cross-linked polyethylene (PEX) market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped

geographies, recent developments, and investments in the cross-linked polyethylene (PEX) market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service

offerings of leading players like Dow, Inc. (US), Borealis AG (Austria), LyondellBasell Industries Holding B.V. (Netherlands), Avient Corporation (US), Exxon Mobil Corporation (US), Finproject S.p.A. (Italy), SACO AEI Polymers (US), HDC Hyundai EP Company (South Korea) and 3H Vinacom Co., Ltd (China) among others in the cross-linked polyethylene (PEX) market