What promotes the growth of Polyethylene market?

Polyethylene Market Size 2021 Industry Share, Strategies, Growth Analysis, Regional Demand, Revenue, and 2029 Forecast Research Report:

Polyethylene is the world’s most-used plastic, derived from natural gas and crude oil. Plastic is extensively used by several processing industries such as automotive, pharmaceutical, packaging, and electronics. It is considered as a potential source of high-strength and chemical resistant material with flexibility, low moisture absorption ability, and waterproof. As recorded by Plastics Europe, the global plastic production increased from 348 million tons to 360 million tons in 2018, of which polyethylene accounted for about 80 million tons. The development of abrasion resistant plastic and its applications in bulletproof vests and artificial joints drives the market growth.  New international trade pacts such as the ASEAN Federation of Plastics Industries (AFPI), Philippines Plastics Industry Association (PPIA), the Thai Plastic Industries Association (TPIA), provides impetus to the market growth.

Changing consumer preference is surging the demand for on-the-go and safe packaged food across the globe. Polyethylene has gained traction in smart packaging due to its durability, flexibility, and sustainability. It is widely used in manufacturing films for food packaging (frozen, dry goods, etc.) as moisture scavenger, antimicrobial, odour removal, and temperature control.

Leading market players are channelizing efforts to reduce their carbon footprint. Recently, Braskem, one of the leading polyethylene producers, invested about USD 290 million in the green-ethylene plant. The plant is equipped with advanced technologies that have the potential to produce polyethylene from sugarcane extracts. Today, recyclable polyethylene plastic is extensively used in the end-user industries over conventional polyethylene, further driving market growth.

Globally, the prevalence of chronic diseases has been increasing at a concerning rate. This is further increasing the number of surgeries and the adoption of advanced medical devices across the globe. As per the European Federation of Pharmaceutical Industries and Associations (EFPIA), in 2017, North America accounted for about 48.1% of the world’s pharmaceutical sales. The rising demand for pharma products is surging the use of high-density polyethylene for the manufacturing of containers as it possesses transparency and clarity, stiffness, and moisture vapor transmission properties. The below graph depicts the pharmaceutical spending of consumers of the G-7 countries, 2018.

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The Major Players Covered in this Report: Eni S.p.A, Lone Star Chemical , The Dow Chemical Co, BASF SE , Braskem , Chevron Phillips Chemical Co, Formosa Plastics , Huntsman , Ineos Olefins & Polymers , LyondellBasell , Reliance Industries , SABIC , LG Chem ,, & More...

By Grade, Low-density polyethylene (LDPE), High-density polyethylene (HDPE), Linear low-density polyethylene (LLDPE),
By End-User, Packaging, Consumer goods, Automotive, Building & construction, Healthcare, Electronics, By Process, Film, Extrusion, Blow molding, Injection molding,

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Polyethylene in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global Polyethylene market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Polyethylene and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Polyethylene. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Polyethylene Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Polyethylene Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Polyethylene Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key Questions Answered in the Report:
What is the current scenario of the Global Polyethylene market? How is the market going to prosper throughout the forecast period?
What are the emerging technologies and related tools that are going to profit the market?
What is the current size of the Global Polyethylene Market?
Which segments are the fastest growing and the largest in the market? What is their market potential?
What are the driving factors contributing to market growth during the short, medium, and long term?

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