Polyethylene Market: Market Would Grow 206 Bn and 4.0% of CAGR | Key Manufacturers: BASF, INEOS, SABIC etc.
The Global Polyethylene Market was valued at US$ 170 Bn in 2018 and is 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 – February 19, 2019 /MarketersMedia/ —
The Polyethylene Market research report presents the analysis of each below mentioned segments and sub-segments from 2016 to 2023 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments and sub-segments calculated for the forecast period from 2019 to 2023.
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 ethylene being the monomer unit. Polyethylene is used in many applications due to its properties such as good mechanical strength and good thermal, optical, electrical, and chemical properties. It is one of the most widely used plastics worldwide. Although it is not easily biodegradable, it can be recycled. The polyethylene scrap can be melted and reused.
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The major companies operating in the Polyethylene Market are BASF SE, INEOS, BP Plc, SABIC, Dow Chemical, Exxon Mobil Corporation, LyondellBasell, and Reliance Industries, among others.
The changing lifestyle has led to an increase in the demand for packaged and takeaway food. This increasing demand for packaged and takeaway food is expected to boost the demand for polyethylene from the packaging industry. There is a growing 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 growing awareness among people about the environmental hazards associated with single-use or one-time use plastics is expected to impede the growth of the polyethylene market. The increasing demand for green plastics and rising investments in plastic recycling plants is further expected to restrain the market growth.
The Polyethylene Market was earlier dominated by the developed countries of North America. However, the increasing industrialization in developing countries has shifted the centre of growth from developed countries to developing countries.
Recent Developments in the Polyethylene Market:
Linear Low density polyethylene: In Feb 2016, Spanish petrochemicals producer Repsol launched 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 setup of this plant. The establishment of this plant helped the company compete against HDPE imported in Europe.
China: In Dec 2017, China imposed a ban on 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 banned the import of plastic waste, in December 2017. In 2017, China’s imports of waste polyethylene fell by around 23%, whereas the virgin polyethylene imports rose by around 18%. This ban is expected to boost the demand for virgin plastic both the polyethylene terephthalate (PET) and polyethylene resins.
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Key Questions Answered in 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 the 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 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)
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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
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