Global Polyethylene Market Definition
Polyethylene (PE) is an integral element of the polyolefin resin family. It is a kind of plastic composed of a long chain of carbon atoms connected by two hydrogen atoms. It is the most widely used plastic in the world, used to make everything from clear food wraps and shopping bags to detergent bottles and car fuel tanks. Polyethylene comes in a wide range of shapes and its versatility makes it to be used in the manufacturing of a wide range of goods, including plastic bags, containers, bottles, and films.
Global Polyethylene Market: Key Insights
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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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Global Polyethylene Market Size, Forecast, and Trend Highlights Over 2023 - 2033
The global polyethylene market is estimated to garner a revenue of ~USD 116.5 Billion by the end of 2033 by growing at a CAGR of ~3.4% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 174 Billion in the year 2022. 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.
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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.
Global Polyethylene Market: Growth Drivers and Challenges
Growth Drivers
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Dynamic Properties and Growing Use of High-Density Polyethylene (HDPE) - High-Density Polyethylene is a low-cost thermoplastic with a uniform structure and no or little branching. It is produced at low temperatures (70-300°C) and pressures (10-80 bar) and is derived from either natural gas modification (a methane, ethane, propane mix) or catalytic cracking of crude oil into gasoline. It has a very good resistance to dilute acids, alcohol, and alkalis. For instance, HDPE is the perfect material for a variety of applications across industries owing to its excellent combination of features. High-density polyethylene is used for a variety of purposes, including the manufacturing of consumer items, fibers, textiles, wiring, and cables.
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Worldwide Escalation in Food and Beverage Industry – The food and beverage industry's global revenue is anticipated to increase from USD 507 billion in 2022 to USD 857 billion by 2025.
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Upsurge in Production of Sports Goods - Between 2015 and 2020, the worth of sporting goods production in the EU increased by more than 7% per year.
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Growth in Textile Industry – For instance, the global textile industry is currently valued at around USD 1.4 trillion and is estimated to grow at a rate of 4 - 5% per year for the next few years.
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Growth in Chemical Industry - In 2021, the total global revenue of the chemical industry reached its highest level in the previous 15 years, bringing the total to approximately USD 4.70 trillion.
Challenges
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Rising Environmental Concerns
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Stringent Government Regulations Over Plastic Use
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Availability of its Substitutes such as polyethylene terephthalate and propylene
The increasing use of other substitutes such as polyethylene terephthalate and propylene is estimated to negatively impact the market growth. The properties of these plastics are similar to PE such as impact resistance, chemical resistance, flexibility, and low cost which are hindering the market growth.
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.
Global Polyethylene Market Regional Synopsis
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.
Market Segmentation
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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Top Featured Companies Dominating the Global Polyethylene Market
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DuPont de Nemours, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- TotalEnergies SE
- Hanwha Group
- Reliance Industries Limited
- Ducor Petrochemicals B.V.
- Borealis AG
- Global Polymer Industries, Inc.
- Lone Star Chemical
- SABIC
- Formosa Plastics Corporation, U.S.A.
