Market Overview and Growth Factors:
Cross-linked polyethylene introduces thermosetting properties in the polymer, which further exhibits high molecular weight, high thermal and abrasion resistance; and superior impact strength and tensile strength. Their demand, owing to these superior physical properties, is increasing in the insulation, packaging, and automotive industries.
According to MRFR analysis, the global cross-linked polyethylene market is estimated to reach USD 8.5 billion at a healthy CAGR of 6.2% by the end of 2025. By type, the global cross-linked polyethylene market has been classified into high-density polyethylene (HDPE), low-density polyethylene (LDPE), and others (linear low-density polyethylene, ethyl vinyl acetate copolymer, and polyolefin elastomer). The HDPE was the dominant segment in 2018 owing to its increasing application in pipes and tubes. Its exceptional combination of physical properties makes HDPE a suitable material for use in several end-use industries. Also, it is easy to install and does not corrode and possess high flexural strength.
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Based on application, the global cross-linked polyethylene market has been divided into wires & cables, plumbing, medical, chemical, automotive, and others (mining and watercraft products). The plumbing segment held the largest market share in 2018, owing to the increasing demand for XLPE in distributed water transmission systems and sewer systems. However, the wires and cables segment is estimated to register the highest CAGR owing to the expanding electronics and telecommunication industries. XLPE is used as an electrical insulation material in power cables and is highly resistant to heat, abrasion, and moisture.
Competitive Analysis:
- Exxon Mobil Corporation (US),
- PolyOne Corporation (US),
- 3H VINACOM CO., LTD (Vietnam),
- Falcone Specialities AG (Switzerland),
- Hanwha Chemical Corporation (South Korea),
- Borealis AG (Austria),
- Solvay (Belgium),
- LyondellBasell Industries Holdings B.V. (The Netherlands),
- HDC HYUNDAI EP COMPANY (South Korea),
- SACO AEI Polymers (US),
- SANKHLA POLYMERS PVT LTD (India),
- SILON s.r.o. (Czech Republic),
- Charloma Inc (US).
Market Segmentation:
The global cross-linked polyethylene market has been categorized on the basis of type, technology, application, and region.
The types studied under the scope of the report are high-density polyethylene (HDPE), low-density polyethylene (LDPE), and others (linear low-density polyethylene, ethyl vinyl acetate copolymer, and polyolefin elastomer).
On the basis of technology, the global cross-linked polyethylene market has been segmented into peroxide method, silane grafting method, and electron beam processing.
By process, the global cross-linked polyethylene market has been bifurcated into chemical and physical.
The application segments are wires & cables, plumbing, medical, chemical, automotive, and others (mining and watercraft products).
Regional Analysis:
The global cross-linked polyethylene market, by region, has been analyzed for five key regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia-Pacific market accounted for the largest share in 2018 and is estimated to register the highest CAGR during the forecast period. This is attributed to the rapid industrialization and growth of the end-use industries such as electronics, telecommunication, and construction. China is projected to be the dominant market in the region owing to the increasing application of XLPE in wires and cables in high-voltage resistance materials.
