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Cross-linked Polyethylene (PEX) Market worth $11.0 billion by 2028 | Key players Dow, Inc. (US), Borealis AG (Austria), LyondellBasell Industries Holding B.V. (Netherlands).

06-19-2024 04:19 PM CET | Chemicals & Materials

Press release from: MarketsandMarkets

Cross-linked Polyethylene Market, Cross-linked Polyethylene, Polyethylene Market, APAC Cross-linked Polyethylene Market

Cross-linked Polyethylene Market, Cross-linked Polyethylene, Polyethylene Market, APAC Cross-linked Polyethylene Market

According to recent market research the "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", 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. The expansion of the cross-linked polyethylene (PEX) market can be primarily attributed to the burgeoning automotive sector and the increasing demand for plastic pipes within the solar industry. Notably, the automotive industry stands out as the most rapidly expanding end-user segment for PEX, with an anticipated Compound Annual Growth Rate (CAGR) of 8.0% in terms of market value throughout the forecast period. Asia Pacific is the largest market for PEX owing to the rapid urbanization and continuous investments for industrialization. This dominance is primarily attributed to the region's ongoing urbanization trends and significant investments in industrialization. As urban areas expand, there is a growing requirement for reliable plumbing and infrastructure, which drives the demand for PEX pipes. Moreover, the continuous industrial investments in this region further stimulate the adoption of PEX for various applications, reinforcing its status as the largest PEX market.

Browse 344 market data Tables and 46 Figures spread through 319 Pages and in-depth TOC on "Cross-linked Polyethylene Market - Global Forecast to 2028"
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HDPE is expected to be the largest type of cross-link polyethylene (PEX)used globally in terms of both value and volume. Cross-linked HDPE is commonly employed in plumbing for pipes and tubing due to its exceptional blend of qualities, rendering it a preferred material for a wide array of applications across multiple industries. HDPE pipes find extensive use in various applications, including the establishment of water and gas transportation pipelines, owing to their advantages of rapid installation, flexibility, lightweight design, and cost-effectiveness. Additionally, in the agricultural sector, HDPE pipes are frequently utilized for liquid transfer purposes. Their inherent characteristics render them well-suited for deployment in construction and industrial settings as well.

Cross-link polyethylene (PEX) is known for its exceptional resistance to flames and heat deformation, making it an ideal choice for applications involving wires and cables. The process of cross-linking enhances the dielectric properties of polyethylene, providing durability against flow and permanent deformation even at temperatures beyond its softening point. The increasing expansion of electrical and communication transmission and distribution networks in developing nations is a significant driver of the PEX market. Additionally, the automotive sector is experiencing rapid growth in the utilization of cross-link polyethylene (PEX), particularly in the production of automotive cables and wires made from cross-linked low-density polyethylene (LDPE).

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The cross-link polyethylene (PEX) market in Asia Pacific is projected to register the highest CAGR between 2023 and 2028. Asia Pacific leads the global PEX market in terms of value and volume The rising demand for PEX (cross-linked polyethylene) in plumbing, wires and cables, and automotive applications in China, Japan, and Australia is fueled by factors such as urbanization, infrastructure development, and economic growth in the region. cross-link polyethylene (PEX) is preferred for plumbing due to its flexibility and durability, while its use as an insulation material in wires and cables meets the growing demand in various industries.

Additionally, cross-link polyethylene (PEX) tubing finds applications in the automotive sector for its lightweight and robust qualities. Government investments in green energy, including solar power plants and windmill-powered plants, are boosting demand for cross-link polyethylene (PEX)in wiring and cabling infrastructure. These combined factors are driving the growth of the cross-link polyethylene (PEX) market in the Asia Pacific region.

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) are the major players in the cross-link polyethylene (PEX) market.

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Dow, Inc. is a materials science company and is engaged in the development of innovative solutions. Dow, Inc. operates across 31 countries and has 104 manufacturing sites across the globe. The company operates through four main reporting segments: Packaging and Specialty Plastics, Industrial Intermediates and Infrastructure, Performance Materials and Coatings, and Corporate. Within the Packaging and Specialty Plastics segment, Dow, Inc. has two integrated businesses: Hydrocarbons and Energy, and Packaging and Specialty Plastics. The Hydrocarbons and Energy business offers a range of products including propylene, ethylene, butadiene, benzene, octane, power, and various aromatics co-products. On the other hand, the Packaging and Specialty Plastics business provides products, such as bio-based plasticizers, ethylene copolymer resins, methacrylic acid copolymer resins, low-density polyethylene (LDPE), high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), ethylene vinyl acetate (EVA), polyethylene (PE), and elastomers.

Borealis AG is a company specializing in chemical and plastic solutions. The company has a global presence spanning Europe, the US, Brazil, Mexico, the Middle East, and the Asia Pacific region. The company organizes its business into three primary reportable segments: Polyolefins, Base Chemicals, and Borealis NITRO. Through its Polyolefins segment, Borealis manufactures and markets a range of polyolefin products, primarily targeting five key market sectors: pipes and fittings systems, energy, automotive, consumer products, and the development of new business ventures focusing on circular economy solutions. It operates in the PEX industry through the Polyolefins segment. Borealis's Base chemicals segment includes products, such as phenol/acetone (phenol and acetone), feedstock (naphtha and liquefied natural gas (LPG)), and olefins (ethylene, propylene, and butadiene). The company's Borealis NITRO segment carries out the production and marketing of technical nitrogen, melamine, and fertilizers. In 2017, The International Petroleum Investment Company (IPIC) of Abu Dhabi owned 64% shares of the company, with the remaining 36% belonging to OMV Aktiengesellschaft (Austria), an international integrated oil & gas company in Vienna.

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