Polyethylene is a low-cost commodity plastic that, due to its thermoplastic nature, may be reused. Polyethylene cross-linking improves its thermal resistance, and the finished product is changed from thermoplastic to thermosetting plastic.
Plumbing was the largest application segment in the global cross linked polyethylene market in 2016 and is expected to retain its dominance throughout the forecast period. Conventionally used plumbing materials such as copper and PVC do not perform well in high temperatures and when highly chlorinated water is transported through them over prolonged periods.
Automotive segment is expected to witness fastest growth over the following decade. The automotive sales in China grew by 15%, in the U.S. grew by 0.2%, and in Europe 7% Y-o-Y in 2016. This rapid growth of automotive industry is expected to boost growth of the automotive application segment in the global cross linked polyethylene market.
Asia Pacific, followed by North America and Europe, accounted for the majority of revenue and volume in the worldwide Cross Linked Polyethylene market in 2016, and this trend is expected to continue over the projected period. In terms of volume, Asia Pacific had a 47.68 percent share in 2016. The growing demand for plumbing in Asia Pacific as a result of population expansion, urbanisation, and the commercial sector is likely to fuel the growth of the global cross-linked polyethylene market throughout the forecast period. According to a Coherent Market Insights analysis, the global plumbing market is predicted to grow at a CAGR of 6.3 percent from 2017 to 2025, fueling the global Cross Linked Polyethylene market.
Major players in the global Cross Linked Polyethylene market include ExxonMobil Chemical Company, LyondellBasell Industries, 3H Vinacom Co., Hanwha Chemicals, Arkema Group, AkzoNobel N.V., Falcone Specialities AG, Borealis AG, and PolyOne Corporation.
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