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APAC Cross-Linked Polyethylene Market To Witness Remarkable Proceeds Over 2019-2024, Expanding Infrastructure Sector To Boost The Product Penetration

Author : Rahul Varpe | Published Date : 2019-03-06 

Global Cross-Linked Polyethylene Market will grow at 6% to exceed USD 8 billion by 2024. Owing to a varied range of domestic, industrial and healthcare applications, the cross-linked polyethylene market has grown considerably over the past few years with products that provide improved performance and durability. Properties like better temperature strength, chemical resistance and the ability to resist slow development of cracks make cross-linked polyethylene materials ideal for public and portable water service lines, commercial plumbing distribution, auto components and light packaging.

 Need for highly reliable and corrosion resistant quality pipes for fire sprinkler systems has further given an up thrust to the Cross-Linked Polyethylene Market . Making these products suitable for large scale residential or commercial projects have benefits such as low cost, flexibility, lightweight and ease of transport, all of which have influenced the shifting consumer trend towards the cross-linked polyethylene market.

Generally, projects of such magnitude require huge investments in the construction sector, to build gas and sewer pipelines in order to facilitate proper utility and waste systems for communities. Electric wires and cables to support the electricity and communication needs of future residents also contribute towards strengthening the cross-linked polyethylene industry, which supplies reliable flame resistant insulation.

To access a sample copy or view the Cross-Linked Polyethylene Market report in detail along with the table of contents, please click the link below: www.gminsights.com/request-sample/detail/1738


Scope of the Report

Report Metric

Details

Market Size available for years

2018-2024.

Historic Data

2014-2017

Base year considered

2017

Forecast period

2019–2024

Forecast Value

8 Bn (USD).

Segments covered

Product, Process, Technology, Application and Region

Geographies covered

Asia Pacific, North America, Europe, The Middle East, Africa, and South America.

Companies covered

The DOW Chemical Company, Arkema Group, Borealis AG, Borealis AG, LYONDELLBASELL INDUSTRIES N.V., Hanwha Chemical Corporation, PolyOne, Saco Polymers Inc., SILON s.r.o.


 The Indonesia project represents a huge requirement of pipes for water and gas supply, water heating, as well as insulated electrical wires that ensure a safe electricity grid, directly boosting the APAC cross-linked polyethylene market which garnered a remuneration of over USD 2 billion in 2017. Other Asian countries like India and China have also pledged to ensure adequate utility supply to citizens, creating the necessity for quality, long lasting pipes.

Citing another instance to demonstrate the growth potential of the cross-linked polyethylene market, in 2017 the Indian government had launched a nation-wide initiative to build efficient water networks and other infrastructural facilities in urban areas. As of now, more than 2.4 million new residential water connections have been provided across India since the initiative started, providing water for drinking and sanitary uses to millions of people.

The UN estimates that by 2050, the total world population could reach 9.8 billion, with countries like China, India, Japan and Indonesia being the dominant contributors within the Asia-Pacific (APAC) region. Due to rapid urban and industrial development resulting from massive government spending in several emerging economies of the region, the cross-linked polyethylene market is slated to witness remarkable consumption rates.

According to data released by Indonesia’s Public Works and Housing Ministry, a total of 805,169 housing units were constructed in 2016 and further 499,702 by June 2017, as part of an ongoing scheme to provide sufficient residential facilities in the country. In 2017, the Indonesian government apparently targeted construction of 700,000 houses for low-income groups and 300,000 for those with a higher income. Reports indicate that Indonesia is looking to gather more funds to complete the ambitious five-year national development plan, which is half way through.

With pipes that allow for easy installation and consistent resistance to moisture, salts and acids, the cross-linked polyethylene market will experience tremendous demand from plumbing and other utility needs. In addition, Asia-Pacific is constituted of highly-populated countries that have been observing a rise in geriatric population, along with increasing prevalence of diseases related to obesity and lack of proper nutrition in younger people.

Subsequently, the APAC cross-linked polyethylene industry is expected to be promulgated extensively from medical applications, besides the prominent demand from infrastructure development activities. The DOW Chemical company, ExxonMobil, Arkema Group, Silon S.R.O, Hanwha Chemical, Vinacom Co Ltd and Borealis AG are some key global market contenders. With incredible predictions regarding population growth and utility requirements, the global cross-linked polyethylene market is anticipated to achieve a CAGR of 6% from 2018 to 2024.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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