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Polyethylene Insulation Materials Market Expected to Reach $26.0 Billion by 2030—Allied Market Research

 
2022
Polyethylene Insulation Materials Market

Report Code : A01757

quote Development activities in power and telecommunication sector in India and China is expected to drive the growth of the polyethylene insulation materials market quote

Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Polyethylene Insulation Materials Market," The polyethylene insulation materials market was valued at $15.9 billion in 2020, and is estimated to reach $26.0 billion by 2030, growing at a CAGR of 5% from 2021 to 2030.

Polyethylene is one of the commonly used polymers and is synthesized chemically from ethylene. It 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.

Wire & cable sector is expected to grow rapidly due to increase in demand from power, telecommunication, and real estate sectors in the emerging economies such as India, China, Brazil, and Russia, which fuels the polyethylene insulation materials market. Burgeoning population in Asia-Pacific, especially in India and China has led to the increased consumption of consumer goods representing a bright spot for polyethylene insulation materials market during the forecast period. General economic performance, policies on infrastructure improvements, the level of capital equipment investment & maintenance, seasonality, occasional events such as rebuilding efforts linked to the damage caused by hurricanes, and other natural events influences sales in the U.S.

On the basis of type, the high-density polyethylene (HDPE) segment dominated the global polyethylene insulation materials market in 2020, and is expected to maintain its dominance during the forecast period owing to it offers benefits such as durable, lightweight, dust repellent, and highly resistant to heat.

On the basis of application, the wires and cables segment dominated the global polyethylene insulation materials market in 2020, and is expected to maintain its dominance during the forecast period owing to increase in demand from power, telecommunication, and real estate sectors in the emerging economies such as India, China, Brazil, and Russia, which fuels the polyethylene insulation materials market.

Major players that operate in the global polyethylene insulation materials market include Saint Gobain S.A., BASF SE, Sika AG, Evonik Industries AG, Exxonmobil Chemical Company, Inc., The DOW Chemical Company, Arkema Group, Akzonoble N.V, Solvay SA, and Polyone Corporation.

KEY FINDINGS OF THE STUDY

  • On the basis of type, the high-density polyethylene (HDPE) segment emerged as the global leader by acquiring more than 57.2% of the market share in 2020.
  • On the basis of application, the wires and cables segment emerged as the global leader by acquiring more than 54.7% of the market share in 2020.
  • On the basis of region, Asia-Pacific is the major consumer of polyethylene insulation materials among other regions. It accounted for around 44.6% of the global market share in 2020.

IMPACT OF COVID-19 ON THE GLOBAL POLYETHYLENE INSULATION MATERIALS MARKET

  • Owing to COVID-19 pandemic, transport limitations were implemented resulted in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacted market growth.
  • The companies have not earned any profit as a result of the work stoppage and not only the companies lost money however they were losing suppliers who are providing the required materials to various companies to be used in construction sector, all those suppliers have also faced huge losses.
  • Furthermore, due to social distancing norms during COVID-19, the manufacturing companies were working with limited workforce; thus, negatively impacted the production and construction processes.

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quote Polyethylene Insulation Materials Market by Type (High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene, Others), by Application (Wires and Cables, Packaging, Consumer Goods, Pipes and Fittings, Roof and wall insulation, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030 quote

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