Polyethylene Market Forecasts to 2028 – Global Analysis By Type (LDPE (Low Density Polyethylene), MDPE (Medium Density Polyethylene) and HDPE (High Density Polyethylene)), Technology (Blow Molding, Injection Molding, Films & Sheet extrusion, Pipe Extrusio

Polyethylene Market Forecasts to 2028 – Global Analysis By Type (LDPE (Low Density Polyethylene), MDPE (Medium Density Polyethylene) and HDPE (High Density Polyethylene)), Technology (Blow Molding, Injection Molding, Films & Sheet extrusion, Pipe Extrusion and Other Technologies), Application (Films & Sheets, Bottles, Household Items and Other Applications), End User and By Geography

According tStratistics MRC, the Global Polyethylene Market is accounted for $108.74 billion in 2022 and is expected treach $155.12 billion by 2028 growing at a CAGR of 6.1% during the forecast period. Polyethylene, generated from natural gas and crude oil, is the world's most widely used plastic. Plastic is widely employed in a variety of processing industries, including automotive, pharmaceutical, packaging, and electronics. It is regarded as a possible source of high-strength, chemical-resistant material that is flexible, low in moisture absorption, and waterproof. It is the most frequently used plastic in the world, being a member of the polyolefin resin family. Polyethylene is used tmake products such as food wrappers and shopping bags, detergent bottles, and car fuel tanks.

According tthe United States Environmental Protection Agency (EPA), approximately 14.5 million tons of packaging and plastic containers were manufactured in 2018.

Market Dynamics:

Driver:

Rising demand from various end users

PE demand is growing in a variety of industries, including automotive, electrical and electronics, food and beverage, and consumer goods. Its properties, including as high stiffness, make it appropriate for industrial applications, primarily packing automotive and electrical replacement parts. Manufacturers in the automobile sector are focusing on boosting vehicle economy by reducing vehicle weight. PE is preferred because it is light and has good process ability, sealing, and stiffness qualities.

Restraint:

Availability of substitutes including PU and PET products

The availability of replacement goods, such as polypropylene and Polyethylene Terephthalate (PET), provides a threat tthe market's growth. These polymers have qualities similar tPE, such as impact resistance, chemical resistance, flexibility, moldability, and low cost, which is predicted tlimit market expansion. Furthermore, variable raw material costs may have a detrimental impact on market growth by influencing the cost structure of the final product, hence limiting market expansion.

Opportunity:

Increasing number of developing strategies by the market players

The polyethylene market is fragmented, with multiple market participants. The key market players are continually pursuing a number of development strategies in order tobtain a competitive advantage, gain market share, and capitalise on market possibilities. Furthermore, the development of new products and technological advancements are adding tmarket revenue growth and expanding advantageous chances for the growth of the polyethylene market.

Threat:

Harmful effect on environment

As polyethylene enters the soil, it degrades the quality and fertility of the soil by releasing poisonous compounds, which is extremely damaging tthe ecosystem. These significant market restraints will slow the market's growth pace. Polyethylene is one of the most often produced pollutants on the planet, and it considerably pollutes the oceans and land. The majority of polyethylene-based plastic bag garbage is tossed intthe ocean, killing an estimated 100,000 marine species each year. The key challenge for market competitors during the forecast period is expected tbe government policies and measures tsafeguard the environment from these wastes.

Covid-19 Impact

The COVID-19 pandemic, PE supply got affected as the demand from industries, such as automotive, electrical & electronics, and consumer goods, has declined. Crude oil prices were reduced due tcollapse in demand and excess supply. This resulted in PE price decline and affected the market growth. Additionally, decreasing production activities in various industries and increasing restrictions due tlockdown globally reduced the rate of operations. However, polyethylene is set texperience high demand from healthcare and packaging industries. The increasing demand for single-use plastic products, Personal Protective Equipment (PPE), sampling containers, curtains, and saline bottles will propel the polyethylene market growth.

The LDPE (Low Density Polyethylene) segment is expected tbe the largest during the forecast period

The LDPE (Low Density Polyethylene) segment is estimated thave a lucrative growth. They are widely utilised in a variety of goods, including blown and cast film, extrusion and coating, and rotational and injection moulding. They are alscommonly used in the production of containers, dispensing bottles, tubing, plastic bags for computer components, and various moulded laboratory equipment. Due tits chemical resistance, flexibility, and softness, LDPE is mostly utilised for packaging. It is mostly used in the food industry for packaging. The growing demand for lightweight packaging in electronics, healthcare, and food and drinks is driving up market demand for LDPE.

The packaging segment is expected thave the highest CAGR during the forecast period

The packaging segment is anticipated twitness the fastest CAGR growth during the forecast period. This is simply due tthe rising use of polyethylene in the packaging sector for packing a wider range of commodities around the world. PET, which is manufactured from polyethylene, provides a moisture resistant and protective structure titems, making it a highly sought-after material in the packaging business. Rising demand for consumer electronics, food and drinks, automotive vehicles, and the increasing prevalence of e-commerce platforms globally are projected tboost the expansion of the polyethylene market in the near future.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast period due tthe region's leading consuming countries such as China and India. Its increasing demand from industries such as packaging and infrastructure and construction, combined with fast industrialization, is driving market expansion in this country. China had the biggest revenue share in the Asia Pacific, owing tlower human expenses and government help. China has emerged as a prominent production and export base for more cost-effective plastic items. These are the primary reasons driving the growth of this region in the market during the forecast period.

Region with highest CAGR:

Europe is projected thave the highest CAGR over the forecast period, due tthe increased demand in the automobile industry in this region. Because of its corrosion resistance, low density, electric insulation, and excellent heat resistance, polyethylene is being used in autos, which is driving market expansion in this region. PE is the most often used polymer in Europe due tits features such as electrical insulation, corrosion inhibition, strong heat resistance, and low density.

Key players in the market

Some of the key players profiled in the Polyethylene Market include Beaulieu International Group, Reliance Industries Limited, China International Petroleum Corporation, MOL Group, DowDuPont, Chevron Phillips Chemical Company, Formosa Plastic Group, SABIC, Ducor Petrochemicals, INEOS, Borouge, Sasol Ltd., Repsol and Braskem.

Key Developments:

In August 2021, Braskem launched HD1954M, a high-density PE, which provides a combination of excellent impact strength, high rigidity, and Environmental Stress Cracking (ESCR), rendering packaging optimization and productivity gains. This launch will help the company tmeet the demands from the agrochemical and chemical markets.

In December 2020, INEOS acquired the remaining 50% interest in the Gemini HDPE joint venture from Sasol Chemicals. The acquisition increased the group’s interest in Gemini t100%.

In September 2020, INEOS Olefins & Polymers Europe announced the expansion of the Recycl-IN range of products. Through this partnership, INEOS Olefins & Polymers can develop high-performance polyethylene Recycl-IN resins, which meet the needs of converters, brand owners, and retailers in using more than 60% recycled plastics in demanding applications, such as stretch and lamination films, particularly used in flexible pouches for personal care product and detergents.

In June 2020, Thong Guan and Dow Chemicals collaborated tlaunch a bio-based polyethylene product series. The PE film will be targeted tmeet the increasing demand for plastic films in Asia Pacific.

Types Covered:
• LDPE (Low Density Polyethylene)
• MDPE (Medium Density Polyethylene)
• HDPE (High Density Polyethylene)

Technologies Covered:
• Blow Molding
• Injection Molding
• Films & Sheet extrusion
• Pipe Extrusion
• Other Technologies

Applications Covered:
• Films & Sheets
• Bottles
• Household Items
• Wires & Cables
• Medical Equipment
• Extrusion Coatings
• Other Applications

End Users Covered:
• Packaging
• Electronics
• Healthcare
• Consumer Goods
• Agriculture
• Aerospace & Defence
• Automotive
• Chemical
• Food & Beverage
• Textile
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements