CHICAGO, Oct. 10, 2023 /PRNewswire/ -- The report Cross-linked polyethylene (PEX) Marketby 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 cross-linked polyethylene (PEX) market 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.
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344 - Tables
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HDPE segment is estimated to dominate the overall cross-link polyethylene (PEX) market.
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.
Wires & Cables is the largest market for cross-link polyethylene (PEX) by end-use industry.
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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Asia Pacific is projected to be the largest cross-link polyethylene (PEX) market.
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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