Polyethylene Insulation Materials Market Overview:
Global Polyethylene Insulation Materials Market was valued at $16,816 million in 2016, and is expected to reach $28,776 million by 2023, supported by a CAGR of 7.8% during the forecast period 2017 to 2023. Polyethylene is a highly dimensionally stable thermoplastic, which is resistant to moisture. It acts as an insulator with a low coefficient of friction and is excellent for guides and other moving parts. It is a white Teflon-like material used for food cutting board. Polyethylene is available in different densities with the ultra-high molecular weight grade, offering toughness that outlasts steel in some applications. Polyethylene insulation material has high resistance to heat and is durable, lightweight, and dust repellent. It finds application in wires & cables, packaging, and consumer goods industry.
The global polyethylene insulation materials market is segmented based on application and geography. Based on application the market is divided into wires & cables, packaging, and consumer goods. Based on geography the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Polyethylene Insulation Materials Market Segmentation
Top Investment Pocket
Wires & cables application is the most lucrative segment for the polyethylene insulation materials. In 2016, wire & cable industry accounted for the highest share of polyethylene for insulation and is expected to grow at a CAGR of 7.9% during 2017 to 2023. It is also used in homes for insulating sealed ground cover system. Packaging & consumer goods sector accounts for about a small share in the global polyethylene insulation materials market and is expected to grow at a CARG of 5.2% during the forecast period.
Polyethylene Insulation Materials Market Top Investment Pockets, By Application
Asia-Pacific is the fastest growing polyethylene insulation materials market growing at a CAGR of 9.7% during 2017 to 2023, owing to increase in demand for insulation materials in wires & cables industry. China, Japan, Korea, and India are the major contributors to the growth of this region. Increase in investments by companies, especially in power and telecommunication sector leads to the higher demand for polyethylene insulation materials. Asia-Pacific is followed by LAMEA, which is expected to grow at a CARG of 9.0%.
UAE and Saudi Arabia offer huge potential for the insulation materials manufacturers. The high living standards in UAE and Saudi Arabia has led to the increased consumption of consumer goods. Moreover, Latin America witnessed increase in investment in the telecommunication industry due to rise in mobile handset and broadband connection. According to the Global System for Mobile Association (GSMA), in 2014, Latin American mobile market was estimated to be the fourth-largest, with almost 718 million connections. Further, growth in the telecommunication industry is expected to increase the demand of polyethylene insulation materials for manufacturing wires & cables, which thus drives the market growth.
Brazil Polyethylene Insulation Materials Market, 2016-2023 ($Million)
Some of the major players operating in the global polyethylene insulation materials market include The DOW Chemical Company, Arkema Group, Borealis AG, Akzonoble N.V., Lyondellbasell Industries N.V., 3H Vinacom Co., Ltd., Exxonmobil Chemical Company, Inc., Falcone Specialities AG, Hanwha Chemical, and Polyone Corporation.
Other key market players (not profiled in this report) in the value chain include Hyundai EP, Kkalpana Group, Kanoo Group, Polylink Polymers (India) Ltd., Saco Polymers Inc., Sankhla Polymers Private Limited, Silon S.R.O., Solvay SA, Vanderbilt Chemicals LLC, and Zimmer Inc.
Key Benefits of Polyethylene Insulation Materials Market:
- This report provides the quantitative analysis of the current market and estimations through 2016-2023, which assists to identify the prevailing market opportunities
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global polyethylene insulation materials market
- The study covers competitive landscape and value chain analysis, which elucidate the competitive environment across the geographies.
- An in-depth analysis of current R&D is provided that help understand the behavior of the market.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
Polyethylene Insulation Materials Market Key Segments:
- Wires & Cables
- Packaging & Consumer Goods
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA