The Global Polyethylene Market was valued at US$ 170 Bn in 2018 and expected to reach US$ 206 Bn by the end of the forecast period, growing at a CAGR of 4% during the period from 2018 to 2023.
DUBLIN, United States – January 30, 2019 /MarketersMedia/ —
Global Polyethylene Market: Polyethylene is a polymer which we use in our day to day life. It is an organic, thermoplastic polymer manufactured by polymerization of various monomer subunits, the monomer unit being ethylene. Polyethylene is used in many applications owing to its properties such as good mechanical strength, good thermal, optical, electrical and chemical properties. It is one of the most widely used plastic worldwide. Although it is not easily biodegradable, it can be recycled. The polyethylene scrap can be melted and reused.
Click here to avail 50% discount on Polyethylene Market report of AllTheResearch Publisher as a PRE-ORDER OFFER. InForGrowth is the exclusive sales & distribution partner of AllTheResearch.
The changing lifestyle has led to an increase in the demand for packaged food and take away food. This increasing demand is expected to boost the demand for polyethylene from the packaging industry. There is an increasing demand for polyethylene from developing countries due to its properties and affordable price. Additionally, there is an ever-increasing demand for polyethylene from the automotive industry. However, the increasing awareness among people regarding the use of one-time use plastics and their environmental hazards is expected to impede the polyethylene market growth. The increasing demand for green plastics and rising investment in plastic recycling plants is further expected to restrain the market growth.
The Polyethylene Market was earlier dominated by the developed countries in North America. However, the increasing industrialization in developing countries has shifted the centre of growth from developed countries to developing countries.
The major companies operating in the Polyethylene Market are BASF SE (US), INEOS (UK), BP Plc (UK), SABIC (Saudi Arabia), Dow Chemical (US), Exxon Mobil Corporation (US), LyondellBasell (The Netherlands), Reliance Industries (India), amongst others.
Recent Developments in the Polyethylene Market:
Linear Low Density Polyethylene: In Feb, 2016 Spanish petrochemicals producer Repsol to launch its first mLLDPE plant. Repsol completed the construction of its first metallocene LLDPE plant in March 2016. The company has invested around €20 million in this project. The company aims to strengthen its polyethylene portfolio with the set-up of this plant. This will also help in the company in to compete against HDPE being imported into Europe.
China: In Dec, 2017 China bans the import of plastic waste. China is one of the biggest importers of waste plastic in the world. In 2016 alone, China imported around 8 million tons of trash. China has banned the import of plastic waste. This ban is expected to boost the demand for virgin plastic both, the polyethylene terephthalate (PET) and polyethylene resins. In 2017, China’s waste polyethylene imports fell by around 23% whereas the virgin polyethylene imports rose by around 18%.
LyondellBasell: In May, 2017 LyondellBasell commences construction of its Hyperzone PE plant in its La Porte complex. The Hyperzone PE plant at the La Porte complex will be capable of producing 500,000 metric tons of high density polyethylene annually. It will utilize the company’s proprietary Hyperzone PE technology. The new technology will result in enhanced material performance. This technology will help its customers to produce, lightweight yet strong plastics that are durable, cost-effective and widely recyclable. The completion of this plant will enable the company to almost double its annual PE manufacturing capacity at the La Porte complex to almost 900,000 metric tons.
Drop in an Email for More Enquiry Regarding This Report at sales@inforgrowth.com
Key Questions Answered into the Polyethylene Market Report:
What is the Polyethylene Market value and volume of the overall market and segments?
What are the key segments and sub-segments in the market?
Which is the largest sub-segment in each segment in the scope of the study?
What are the key drivers, restraints, opportunities and challenges in xx market and how are they expected to impact the market?
What are the attractive segments and geographies to invest in?
What is the Polyethylene Market value and volume at the regional and country level?
Who are the key market players and their key competitors?
Who are the key Polyethylene Market players at different stages of the value chain?
What are the strategies for growth adopted by the key players in the market?
How does a particular company rank against its competitors with respect to revenue, profit comparison, operational efficiency, cost competitiveness and market capitalization?
How financially strong are the key players in the market (revenue and profit margin, market capitalization, expenditure analysis, investment analysis)?
What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)
Related Reports on Polyethylene Market:
Global Polyethylene Market Summary Report
Global Polyethylene Market Segmentation Report
Global Polyethylene Market Regional Report
Global Polyethylene Market Competitive Intelligence & Company Profiles Report
Global Polyethylene Market Statbook
Contact Info:
Name: Aditya
Organization: InForGrowth
Address: 6400 Village Pkwy suite # 104, Dublin, CA 94568, USA
Phone: +1-909-329-2808
Website: https://www.inforgrowth.com/
Source URL: https://marketersmedia.com/global-polyethylene-market-worth-206-bn-usd-by-2023-4-cagr-market-segmentation-and-growth-rate/477524
Source: MarketersMedia
Release ID: 477524