Cross-Linked Polyethylene Market Size, Growth, Dynamics and Forecast to 2030
Cross-Linked Polyethylene (XLPE) Market Overview
Cross-Linked Polyethylene (XLPE) price size was valued at USD 5.78 billion in 2021 . The Cross-Linked Polyethylene (XLPE) market industry is projected to grow from USD 5.96 Billion in 2022 to USD 10.86 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8 % during the forecast period (2022 - 2030).
Cross-linked polyethylene, also known as XLPE, XPE, or PEX, is a type of polyethylene having cross-links. It is extensively used to build insulation for high tension electrical cables, domestic water piping, hydronic radiant cooling and heating systems, and services pipework systems. Besides, it is also used for transportation of slurries and sewage, chemical transportation, and offshore oil and natural gas applications.
Various factors are propelling the Cross-Linked Polyethylene Market growth. These factors, as stated by the latest Market Research Future (MRFR) report, include shifting consumer use towards pipes made of cross-linked polyethylene in potable water distribution applications, rapid urbanization, increasing development strategies, and easy availability of raw materials. Additional factors pushing market growth include increasing research and development activities initiated by key players, booming construction industry, burgeoning demand for cross-linked polyethylene from power and automotive industries, and its alluring features such as ease of installation and low cost.
Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the cross-linked polyethylene market on the basis of application, process, technology, and type.
Based on the process, the cross-linked polyethylene market is segmented into physical and chemical. Of these, the chemical process will lead the market over the forecast period as it can effectively produce cross-linked polyethylene that can be used in ground source geothermal systems and reclaimed water distribution systems.
Based on technology, the cross-linked polyethylene market size is segmented into electron beam processing, silane grafting method, and peroxide method. Of these, the peroxide method will dominate the market over the forecast period owing to the ability to produce a uniform and the highest degree of cross-linking. Besides, it also offers good resistance to aggressive chemicals and stress cracking.
Based on the application, the cross-linked polyethylene market is segmented into automotive, chemical, medical, plumbing, wires and cables, and others. The others include watercraft products and mining. Of these, the plumbing segment will have the maximum share in the market over the forecast period owing to the high consumption of cross-linked polyethylene in distributed water transmission systems and sewer systems.
Based on type, the cross-linked polyethylene market is segmented into low-density polyethylene (LDPE), high-density polyethylene (HDPE), and others. The others segment includes polyolefin elastomer, ethyl vinyl acetate copolymer, and liner low-density polyethylene). Of these, the high-density polyethylene segment will have the largest share in the market over the forecast period for its rising application in pipes and tubing.
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Regional Analysis
By region, the cross-linked polyethylene market report covers the latest trends and growth opportunities across North America, the Middle East and Africa, Latin America, Europe, and the Asia Pacific. Of these, the APAC region is predicted to spearhead the market over the forecast period chiefly on account of the growing construction sector and rising industrialization. Moreover, the increasing commercial and residential construction activities in the region are also propelling the demand for cross-linked polyethylene in plumbing systems and the production of cables and wires.
The cross-linked polyethylene market in North America and Europe is predicted to have a stable growth over the forecast period chiefly on account of their well-developed consumer economy and automotive industry.
The cross-linked polyethylene market in Latin America and the MEA is predicted to have a steady growth over the forecast period.
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Industry News
October 2019: Sabic had recently launched a dedicated POE (polyolefin elastomer) foam for footwear, casual and sports shoes. These shoes will come with high performance properties, low density, and consistency and will offer compression set, superior resilience, and stable foamability, thereby enabling durability and greater bounce.
Key Players
Major players profiled in the cross-linked polyethylene market report include Charmola Inc (US), Silon SRO (Czech Republic), Sankhla Polymers Pvt Ltd (India), Saco Aei Polymers (US), HDC Hyundai EP Company (South Korea), Hanwha Chemical Corporation (South Korea), Falcone Specialties AG (Switzerland), 3H Vinacom Co., Ltd (Vietnam), Polyone Corporation (US), Exxon Mobil Corporation (US), LyondellBasell Industries Holdings B.V. (The Netherlands), Solvay (Belgium), and Borealis AG (Austria).
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