Cross-Linked Polyethylene Market Size To Witness High Growth In Near Future

Owing to a varied range of domestic, industrial and healthcare applications, the cross-linked polyethylene market has grown considerably over the past few years with products that provide improved performance and durability. Properties like better temperature strength, chemical resistance and the ability to resist slow development of cracks make cross-linked polyethylene materials ideal for public and portable water service lines, commercial plumbing distribution, auto components and light packaging.

Need for highly reliable and corrosion resistant quality pipes for fire sprinkler systems has further given an up thrust to the cross-linked polyethylene industry. Making these products suitable for large scale residential or commercial projects have benefits such as low cost, flexibility, lightweight and ease of transport, all of which have influenced the shifting consumer trend towards the cross-linked polyethylene market.

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Citing another instance to demonstrate the growth potential of the cross-linked polyethylene industry, in 2017 the Indian government had launched a nation-wide initiative to build efficient water networks and other infrastructural facilities in urban areas. As of now, more than 2.4 million new residential water connections have been provided across India since the initiative started, providing water for drinking and sanitary uses to millions of people.

With pipes that allow for easy installation and consistent resistance to moisture, salts and acids, the cross-linked polyethylene market will experience tremendous demand from plumbing and other utility needs. In addition, Asia-Pacific is constituted of highly-populated countries that have been observing a rise in geriatric population, along with increasing prevalence of diseases related to obesity and lack of proper nutrition in younger people.

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An upcoming growth avenue for the cross-linked polyethylene market, medical surgeries for joint replacements have garnered momentum to offer a healthier and pain free living for osteoarthritis patients. Knee and hip replacement arthroplasty involves replacing a dysfunctional joint with a prosthesis, which can now be made from cross-linked polyethylene.

Recently, a broad study conducted on over 240,000 hip osteoarthritis patients revealed that hip implants containing cross-linked polyethylene lower the need for a revision surgery significantly. The reduced long-term wear of implants with cross-linked polyethylene bearing surface are making them more suitable for younger patients as compared to conventional polyethylene implants, since they have a longer life and tend to be more active.

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Subsequently, the APAC cross-linked polyethylene industry is expected to be promulgated extensively from medical applications, besides the prominent demand from infrastructure development activities. The DOW Chemical company, ExxonMobil, Arkema Group, Silon S.R.O, Hanwha Chemical, Vinacom Co Ltd and Borealis AG are some key global market contenders. With incredible predictions regarding population growth and utility requirements, the global cross-linked polyethylene market is anticipated to achieve a CAGR of 6% from 2018 to 2024.

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