Cross-linked Polyethylene Market
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Plumbing was the largest application segment in the global cross linked polyethylene market in 2016 and is expected to retain its dominance throughout the forecast period. Conventionally used plumbing materials such as copper and PVC do not perform well in high temperatures and when highly chlorinated water is transported through them over prolonged periods.
Automotive segment is expected to witness fastest growth over the following decade. The automotive sales in China grew by 15%, in the U.S. grew by 0.2%, and in Europe 7% Y-o-Y in 2016. This rapid growth of automotive industry is expected to boost growth of the automotive application segment in the global cross linked polyethylene market.
Asia Pacific, followed by North America and Europe accounted for major share in the global Cross Linked Polyethylene market both in terms of revenue and volume in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, Asia Pacific held a share of 47.68% in terms of volume. The growing demand for plumbing in Asia Pacific due to growing population, increased urbanization and commercial sector is expected to drive the growth of the global cross linked polyethylene market over the forecast period. According to a study conducted by Coherent Market Insights, the global plumbing market is expected to witness a CAGR of 6.3% from 2017 to 2025 which is expected to fuel the global Cross Linked Polyethylene market.
Major players in the global Cross Linked Polyethylene market include ExxonMobil Chemical Company, LyondellBasell Industries, 3H Vinacom Co., Hanwha Chemicals, Arkema Group, AkzoNobel N.V., Falcone Specialities AG, Borealis AG, and PolyOne Corporation.
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