Polyethylene Market
PUBLISHED: 2023 ID: SMRC22590
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Polyethylene Market

Polyethylene Market Forecasts to 2028 - Global Analysis By Type (LDPE (Low Density Polyethylene), MDPE (Medium Density Polyethylene) and HDPE (High Density Polyethylene)), Technology (Blow Molding, Injection Molding, Films & Sheet extrusion, Pipe Extrusion and Other Technologies), Application (Films & Sheets, Bottles, Household Items and Other Applications), End User and By Geography

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4.4 (71 reviews)
Published: 2023 ID: SMRC22590

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $108.74 BN

Projected Year Value (2028)

US $155.12 BN

CAGR (2022 - 2028)

6.1%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe


According to Stratistics MRC, the Global Polyethylene Market is accounted for $108.74 billion in 2022 and is expected to reach $155.12 billion by 2028 growing at a CAGR of 6.1% during the forecast period. Polyethylene, generated from natural gas and crude oil, is the world's most widely used plastic. Plastic is widely employed in a variety of processing industries, including automotive, pharmaceutical, packaging, and electronics. It is regarded as a possible source of high-strength, chemical-resistant material that is flexible, low in moisture absorption, and waterproof. It is the most frequently used plastic in the world, being a member of the polyolefin resin family. Polyethylene is used to make products such as food wrappers and shopping bags, detergent bottles, and car fuel tanks.

According to the United States Environmental Protection Agency (EPA), approximately 14.5 million tons of packaging and plastic containers were manufactured in 2018.



Market Dynamics:

Driver:

Rising demand from various end users

PE demand is growing in a variety of industries, including automotive, electrical and electronics, food and beverage, and consumer goods. Its properties, including as high stiffness, make it appropriate for industrial applications, primarily packing automotive and electrical replacement parts. Manufacturers in the automobile sector are focusing on boosting vehicle economy by reducing vehicle weight. PE is preferred because it is light and has good process ability, sealing, and stiffness qualities.

Restraint:

Availability of substitutes including PU and PET products

The availability of replacement goods, such as polypropylene and Polyethylene Terephthalate (PET), provides a threat to the market's growth. These polymers have qualities similar to PE, such as impact resistance, chemical resistance, flexibility, moldability, and low cost, which is predicted to limit market expansion. Furthermore, variable raw material costs may have a detrimental impact on market growth by influencing the cost structure of the final product, hence limiting market expansion.

Opportunity:

Increasing number of developing strategies by the market players

The polyethylene market is fragmented, with multiple market participants. The key market players are continually pursuing a number of development strategies in order to obtain a competitive advantage, gain market share, and capitalise on market possibilities. Furthermore, the development of new products and technological advancements are adding to market revenue growth and expanding advantageous chances for the growth of the polyethylene market.

Threat:

Harmful effect on the environment

As polyethylene enters the soil, it degrades the quality and fertility of the soil by releasing poisonous compounds, which is extremely damaging to the ecosystem. These significant market restraints will slow the market's growth pace. Polyethylene is one of the most often produced pollutants on the planet, and it considerably pollutes the oceans and land. The majority of polyethylene-based plastic bag garbage is tossed into the ocean, killing an estimated 100,000 marine species each year. The key challenge for market competitors during the forecast period is expected to be government policies and measures to safeguard the environment from these wastes.

Covid-19 Impact

The COVID-19 pandemic, PE supply got affected as the demand from industries, such as automotive, electrical & electronics, and consumer goods, has declined. Crude oil prices were reduced due to collapse in demand and excess supply. This resulted in PE price decline and affected the market growth. Additionally, decreasing production activities in various industries and increasing restrictions due to lockdown globally reduced the rate of operations. However, polyethylene is set to experience high demand from healthcare and packaging industries. The increasing demand for single-use plastic products, Personal Protective Equipment (PPE), sampling containers, curtains, and saline bottles will propel the polyethylene market growth.

The LDPE (Low Density Polyethylene) segment is expected to be the largest during the forecast period

The LDPE (Low Density Polyethylene) segment is estimated to have a lucrative growth. They are widely utilised in a variety of goods, including blown and cast film, extrusion and coating, and rotational and injection moulding. They are also commonly used in the production of containers, dispensing bottles, tubing, plastic bags for computer components, and various moulded laboratory equipment. Due to its chemical resistance, flexibility, and softness, LDPE is mostly utilised for packaging. It is mostly used in the food industry for packaging. The growing demand for lightweight packaging in electronics, healthcare, and food and drinks is driving up market demand for LDPE.

The packaging segment is expected to have the highest CAGR during the forecast period

The packaging segment is anticipated to witness the fastest CAGR growth during the forecast period. This is simply due to the rising use of polyethylene in the packaging sector for packing a wider range of commodities around the world. PET, which is manufactured from polyethylene, provides a moisture resistant and protective structure to items, making it a highly sought-after material in the packaging business. Rising demand for consumer electronics, food and drinks, automotive vehicles, and the increasing prevalence of e-commerce platforms globally are projected to boost the expansion of the polyethylene market in the near future.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to the region's leading consuming countries such as China and India. Its increasing demand from industries such as packaging and infrastructure and construction, combined with fast industrialization, is driving market expansion in this country. China had the biggest revenue share in the Asia Pacific, owing to lower human expenses and government help. China has emerged as a prominent production and export base for more cost-effective plastic items. These are the primary reasons driving the growth of this region in the market during the forecast period.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, due to the increased demand in the automobile industry in this region. Because of its corrosion resistance, low density, electric insulation, and excellent heat resistance, polyethylene is being used in autos, which is driving market expansion in this region. PE is the most often used polymer in Europe due to its features such as electrical insulation, corrosion inhibition, strong heat resistance, and low density.



Key players in the market

Some of the key players profiled in the Polyethylene Market include Beaulieu International Group, Reliance Industries Limited, China International Petroleum Corporation, MOL Group, DowDuPont, Chevron Phillips Chemical Company, Formosa Plastic Group, SABIC, Ducor Petrochemicals, INEOS, Borouge, Sasol Ltd., Repsol and Braskem.

Key Developments:

In August 2021, Braskem launched HD1954M, a high-density PE, which provides a combination of excellent impact strength, high rigidity, and Environmental Stress Cracking (ESCR), rendering packaging optimization and productivity gains. This launch will help the company to meet the demands from the agrochemical and chemical markets.

In December 2020, INEOS acquired the remaining 50% interest in the Gemini HDPE joint venture from Sasol Chemicals. The acquisition increased the group’s interest in Gemini to 100%.

In September 2020, INEOS Olefins & Polymers Europe announced the expansion of the Recycl-IN range of products. Through this partnership, INEOS Olefins & Polymers can develop high-performance polyethylene Recycl-IN resins, which meet the needs of converters, brand owners, and retailers in using more than 60% recycled plastics in demanding applications, such as stretch and lamination films, particularly used in flexible pouches for personal care product and detergents.

In June 2020, Thong Guan and Dow Chemicals collaborated to launch a bio-based polyethylene product series. The PE film will be targeted to meet the increasing demand for plastic films in Asia Pacific.

Types Covered:
• LDPE (Low Density Polyethylene)
• MDPE (Medium Density Polyethylene)
• HDPE (High Density Polyethylene)

Technologies Covered:
• Blow Molding
• Injection Molding
• Films & Sheet extrusion
• Pipe Extrusion
• Other Technologies

Applications Covered:
• Films & Sheets
• Bottles
• Household Items
• Wires & Cables
• Medical Equipment
• Extrusion Coatings
• Other Applications

End Users Covered:
• Packaging
• Electronics
• Healthcare
• Consumer Goods
• Agriculture
• Aerospace & Defence
• Automotive
• Chemical
• Food & Beverage
• Textile
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Polyethylene Market, By Type
5.1 Introduction
5.2 LDPE (Low Density Polyethylene)
5.3 MDPE (Medium Density Polyethylene)
5.4 HDPE (High Density Polyethylene)

6 Global Polyethylene Market, By Technology
6.1 Introduction
6.2 Blow Molding
6.3 Injection Molding
6.4 Films & Sheet extrusion
6.5 Pipe Extrusion
6.6 Other Technologies

7 Global Polyethylene Market, By Application
7.1 Introduction
7.2 Films & Sheets
7.3 Bottles
7.4 Household Items
7.5 Wires & Cables
7.6 Medical Equipment
7.7 Extrusion Coatings
7.8 Other Applications

8 Global Polyethylene Market, By End User
8.1 Introduction
8.2 Packaging
8.3 Electronics
8.4 Healthcare
8.5 Consumer Goods
8.6 Agriculture
8.7 Aerospace & Defence
8.8 Automotive
8.9 Chemical
8.10 Food & Beverage
8.11 Textile
8.12 Other End Users

9 Global Polyethylene Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 Beaulieu International Group
11.2 Reliance Industries Limited
11.3 China International Petroleum Corporation
11.4 MOL Group
11.5 DowDuPont
11.6 Chevron Phillips Chemical Company
11.7 Formosa Plastic Group
11.8 SABIC
11.9 Ducor Petrochemicals
11.10 INEOS
11.11 Borouge
11.12 Sasol Ltd.
11.13 Repsol
11.14 Braskem

List of Tables
1 Global Polyethylene Market Outlook, By Region (2020-2028) ($MN)
2 Global Polyethylene Market Outlook, By Type (2020-2028) ($MN)
3 Global Polyethylene Market Outlook, By LDPE (Low Density Polyethylene) (2020-2028) ($MN)
4 Global Polyethylene Market Outlook, By MDPE (Medium Density Polyethylene) (2020-2028) ($MN)
5 Global Polyethylene Market Outlook, By HDPE (High Density Polyethylene) (2020-2028) ($MN)
6 Global Polyethylene Market Outlook, By Technology (2020-2028) ($MN)
7 Global Polyethylene Market Outlook, By Blow Molding (2020-2028) ($MN)
8 Global Polyethylene Market Outlook, By Injection Molding (2020-2028) ($MN)
9 Global Polyethylene Market Outlook, By Films & Sheet extrusion (2020-2028) ($MN)
10 Global Polyethylene Market Outlook, By Pipe Extrusion (2020-2028) ($MN)
11 Global Polyethylene Market Outlook, By Other Technologies (2020-2028) ($MN)
12 Global Polyethylene Market Outlook, By Application (2020-2028) ($MN)
13 Global Polyethylene Market Outlook, By Films & Sheets (2020-2028) ($MN)
14 Global Polyethylene Market Outlook, By Bottles (2020-2028) ($MN)
15 Global Polyethylene Market Outlook, By Household Items (2020-2028) ($MN)
16 Global Polyethylene Market Outlook, By Wires & Cables (2020-2028) ($MN)
17 Global Polyethylene Market Outlook, By Medical Equipment (2020-2028) ($MN)
18 Global Polyethylene Market Outlook, By Extrusion Coatings (2020-2028) ($MN)
19 Global Polyethylene Market Outlook, By Other Applications (2020-2028) ($MN)
20 Global Polyethylene Market Outlook, By End User (2020-2028) ($MN)
21 Global Polyethylene Market Outlook, By Packaging (2020-2028) ($MN)
22 Global Polyethylene Market Outlook, By Electronics (2020-2028) ($MN)
23 Global Polyethylene Market Outlook, By Healthcare (2020-2028) ($MN)
24 Global Polyethylene Market Outlook, By Consumer Goods (2020-2028) ($MN)
25 Global Polyethylene Market Outlook, By Agriculture (2020-2028) ($MN)
26 Global Polyethylene Market Outlook, By Aerospace & Defence (2020-2028) ($MN)
27 Global Polyethylene Market Outlook, By Automotive (2020-2028) ($MN)
28 Global Polyethylene Market Outlook, By Chemical (2020-2028) ($MN)
29 Global Polyethylene Market Outlook, By Food & Beverage (2020-2028) ($MN)
30 Global Polyethylene Market Outlook, By Textile (2020-2028) ($MN)
31 Global Polyethylene Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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