by The global Cross Linked Polyethylene (XLPE) Market is estimated to be valued at US$ 5,323.1 Mn in 2022 and is expected to exhibit a CAGR of 7.47% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cross-linked polyethylene (XLPE) is produced by introducing cross-links between polymer chains of high-density polyethylene through radiation, peroxide or silane process. It offers enhanced mechanical and thermal properties. Demand for durable and high strength piping materials for gas and plumbing applications is expected to drive growth of the XLPE market.
Market key trends:
One of the major trends in the XLPE market is its increasing use in oil and gas industry applications such as pipe coatings and tubings. With ongoing infrastructure development and new pipeline projects, the demand for corrosion resistant and high strength piping materials is growing significantly. XLPE exhibits excellent chemical and corrosion resistance making it a preferred material for oil and gas pipelines transportation and distribution. Furthermore, it can withstand higher temperatures and pressures as compared to traditional polyethylene, expanding its use in deep water and Arctic oil and gas exploration projects.
Segment Analysis:
The global cross linked polyethylene market is segmented on the basis of type, application and region. Based on type, the market is segmented into high density polyethylene (HDPE), low density polyethylene (LDPE) and others (linear low density polyethylene (LLDPE), etc.). The HDPE segment is expected to hold the largest market share owing to its excellent properties such as high strength, chemical and stress cracking resistance. Based on application, the market is segmented into plumbing, wiring & cables, coated fabric and others. The plumbing segment dominates the market due to extensive use of cross linked polyethylene pipes for potable water supply, sewage, drainage and irrigation projects owing to its outstanding resistance to corrosion and chemicals.
Key Takeaways:
The Global Cross Linked Polyethylene Market Size was valued at US$ 5,323.1 Mn in 2022 and is expected to grow at a CAGR of 7.47% over the forecast period. The market is witnessing high growth owing to increasing infrastructure development activities globally.
Regional analysis indicates that Asia Pacific dominates the global market and is expected to grow at the fastest pace during the forecast period. This is attributed to increasing investments in water supply and sanitation projects in India and China. Countries like India are experiencing rapid urbanization along with growing demand for plumbing and cable applications which is fueling market growth in the region.
Key players operating in the cross linked polyethylene market are ExxonMobil Chemical Company, LyondellBasell Industries, 3H Vinacom Co., Hanwha Chemicals, Arkema Group, AkzoNobel N.V., Falcone Specialities AG, Borealis AG, and PolyOne Corporation. Key players are focusing on new product launches, partnerships, and capacity expansions to strengthen their market position and cater to the growing demand globally. For instance, in March 2022, Arkema Group announced plans to expand its production capacities for high-performance polymers and cross-linked polyethylene in the United States to meet the growing demand from industrial and infrastructure sectors.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
