Polyethylene Market size is poised to cross USD 174 Billion by the end of 2033, growing at a CAGR of 3.4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of polyethylene was over USD 116.5 Billion. The growth of the market is primarily attributed to its increasing popularity, demand in the packaging, and construction industries, and rising demand for bio-based polyurethane. According to the United States Environmental Protection Agency (EPA), approximately 14.5 million tons of packaging and plastic containers were manufactured in 2018. Besides, the increasingly high demand for PE packaging of food and beverages, and growing consumer goods boost the market growth.
For instance, polyethylene's (PE) primary features include its low cost, strong electrical insulation across a wide frequency range, extremely good chemical resistance, outstanding processability, toughness, flexibility, and a major factor of transparency in thin films of specific grades. The increasing investments in the production of goods that are eco-friendly and the growing agricultural sector to propel the market growth in the forecast period. More than 40% of the executives said that the population is demanding sustainability in the textile and fashion industry.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
3.4% |
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Base Year Market Size (2022) |
USD 116.5 Billion |
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Forecast Year Market Size (2033) |
USD 174 Billion |
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Regional Scope |
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End-user (Packaging, Automotive, Infrastructure & Construction, Electronics & Electrical, Healthcare & Pharmaceuticals, Consumer Goods, Transportation, Agriculture)
The polyethylene market is segmented and analyzed for demand and supply by end-user into packaging, automotive, infrastructure & construction, electronics & electrical, healthcare & pharmaceuticals, consumer goods, transportation, agriculture, and others. Amongst these, the packaging segment is anticipated to grow at a significant rate over the forecast period owing to the rising use of polyethylene in the production of various packaging solutions in the food and beverage sector, and an increasing number of E-commerce portals that deliver packaged goods on doorsteps. It was observed that, in 2020, the global packaging industry flourished to be worth around USD 768 billion.
Our in-depth analysis of the global polyethylene market includes the following segments:
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By Type |
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By Technology |
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By End-User |
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Asia Pacific Market Forecast
The Asia Pacific region polyethylene market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growing intake of packaged food items, growth in the automotive sector, and significant growth in infrastructure, packaging, and construction industries in the region. For instance, packaging consumption in India has increased 203% over the last decade, from 4 kg per person per annum (pppa) to 8 kg pppa. With an annual growth rate of 27%, the industry is expected to reach USD 205.81 billion by 2025, up from USD 51 billion in 2019.
TotalEnergies SE announced a strategic agreement with Honeywell International Inc. to promote the development of advanced plastic recycling. As part of this contract, Honeywell is estimated to provide TotalEnergies with Recycled Polymer Feedstock (RPF) using Honeywell's UpCycle Process Technology at a newly announced advanced recycling plant being constructed in Andalucia, Spain.
Formosa Plastics Corporation, U.S.A. announced the start-up of its low-density polyethylene (LDPE) plant in Point Comfort, Texas. The LDPE unit is estimated to join the existing high-density polyethylene (HDPE) and linear low-density polyethylene (LLDPE) units.
Author Credits: Smruti Ranjan, Rajrani Baghel
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