Downstream Polyethylene Market Research, 2031
The global downstream polyethylene market was valued at $109.53 billion in 2021, and is projected to reach $180.49 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
Polyethylene (PE), commonly referred to as polythene, is a class of thermoplastic polymers that may be generated for a variety of uses depending on the polymerization process. The features of polyethylene include its improved impact resistance, superior chemical resistance, high flexibility, and light weight.
The widespread use of polyethylene in sectors including packaging, building, and consumer products is a major factor driving the market. The polyethylene is readily accessible at a low price, extremely strong, and resistant to chemicals. It is widely utilized in many different applications across the world, including food wraps, detergent bottles, fuel tanks, and shopping bags. The strength and durability that polyethylene provides make it the most popular material in the packaging sector, which increases demand for polyethylene across the world. The global downstream polyethylene market is anticipated to increase rapidly as a result of the accessibility and affordability. Furthermore, a number of variables, including recyclability, ease of processing, and low cost, have a big impact on the expansion of the downstream polyethylene market. Increasing demand for polyethylene in the pharmaceutical, electronics, and automotive sectors is also anticipated to fuel market expansion over the forecast period.
However, the downstream polyethylene market share is also likely to confront certain obstacles. It is anticipated that the increased need for environmental preservation and health awareness would impede market expansion. Increased adoption of stringent rules and regulations, which is predicted to hinder the market from expanding. Additionally, the unstable and fluctuating price of production-related raw materials is projected to hamper the market's growth. An increase in bio-degradable polyethylene may present new growth opportunities for the downstream polyethylene market over the course of the forecast period as a result of growing environmental concerns and stronger governmental restrictions.
Downstream polyethylene market is segmented on the basis of type, technology, end-use industry and region. Depending on type, the market is categorized Low-density polyethylene (LDPE), Medium-density polyethylene (MDPE), High-density polyethylene (HDPE). On the basis of technology, the market is categorized into Films & Sheets Extrusion, Pipe Extrusion, Injection Molding, Blow Molding and Others. On the basis of end-use industry, the market is categorized into Building & Construction, Electrical & Electronics, Automotive, Paper & Textile, Packaging and Others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global downstream polyethylene market include Borealis AG, Chevron Phillips Chemical Company LLC, China National Petroleum Corporation, Dow Inc., Ducor Petrochemicals, DuPont, Exxon Mobil Corporation, Formosa Plastics Corporation, U.S.A, Ineos, Lone Star Chemical, LyondellBasell Industries Holdings, Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals, Petroliam Nasional Berhad, SABIC.
Other players operating in the downstream polyethylene market are LOTTE Chemical Corporation, Braskem S.A., Abu Dhabi Polymers Company Ltd.
The downstream polyethylene market is segmented into Type, Technology and End use industry.
The high-density polyethylene (HDPE) segment accounted for the largest share i.e., 53.8%, this is due to increased demand for high-density polyethylene (HDPE) from construction industry.MDPE segment is the fastest growing segment, growing around 6.2% CAGR over the forecasted period.
The films & sheets extrusion segment accounted for the largest share i.e., 38.8% and is projected as the fastest growing segment, growing around 5.8% CAGR over the forecasted period. This is due to increased demand form automotive and construction industry.
The packaging segment accounted for the largest share i.e., 34.03%, this is due to increased demand for packaging products from various end-use industry like electrical and electronics. Automotive segment is the fastest growing segment, growing around 6.0% CAGR over the forecasted period.
Asia-Pacific contributed the 59.1% market share in 2021 and is projected to grow at CAGR of 5.7% during the forecast period. Asia-Pacific has garnered major share in downstream polyethylene market Owing to the increased demand from construction and electronics industries.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the downstream polyethylene market analysis from 2021 to 2031 to identify the prevailing downstream polyethylene market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the downstream polyethylene market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global downstream polyethylene market trends, key players, market segments, application areas, and market growth strategies.
IMPACT OF COVID-19 ON THE GLOBAL DOWNSTREAM POLYETHYLENE MARKET
- Emergence of COVID-19 had a brief favorable influence on the expansion of the global market for downstream polyethylene.
- During the COVID-19 epidemic, the increased demand for plastic-made personal protective equipment (PPE) played a key role in ensuring the safety of individuals.
- Since the start of the coronavirus pandemic, there has been an unprecedented surge in single-use plastics (SUPs) such as protective medical suits, gloves, hand sanitizer bottles, masks, food & packaging products, and medical test kits. This is also anticipated to contribute positively to the expansion of the downstream polyethylene market.
- Thus, the above reasons are anticipated to stimulate the expansion of the global downstream polyethylene market.
Downstream Polyethylene Market Report Highlights
By End use industry
Key Market Players
H & R Johnson, Caesarstone Ltd., Quartzforms, LX Hausys, A.St.A. WORLD-WIDE, Stone Italiana S.P.A., Granite & Marble Specialties, Technistone s.r.o, Cosentino S.A., vicostone, Santa Margherita Spa, Silestone, Q.R.B.G.s.r.l., Belenco, Topzstone
According to perspective of CXOs of leading companies, demand for polyethylene is projected to increase significantly, owing to rise in use of plastic containers in a variety of vertical industries and domestic households. Use of these polyethylene products is projected to expand further as the global population and economy continue to grow. Despite the fact that polyethylene has several applications, its environmental effect is enormous. This is expected to hinder expansion of the global downstream polyethylene market.