Polyethylene is commonly known as plastic and is commercially obtained through the polymerization process of ethylene monomer. Plastic is the most popular thermoplastic products and is widely used in the various consumer applications across the globe. Polyethylene can also be produced from renewable resources like natural gas or petroleum.Growing demand for polyethylene in the packaging industry is expected to fuel the
polyethylene market growth over the coming years. In addition, rising application of polyethylene for several purposes such as insulating materials and molded parts in automotive and engineering industry is likely to augment the market growth over the forecast period.
The report on
"Global Polyethylene Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2021" is a comprehensive study providing complete market analysis. The details can be used by strategists to take forward looking decisions related to the market.Polyethylene is classified into a broad range of isomers including LDPE (low density), HDPE (high density), MDPE (medium density), VLDPE (very low density) and LLDPE (linear low density) polymers among others.
Increasing need for plastic bags and containers along with high purchasing power of consumer has already boosted the polyethylene market demand for various usage arcoss sectors. Polyethylene comprises of a broad range of benefits including its low cost, versatility, recyclability and easy processability, which makes it the most accepted plastic derivatives in the world. However, increasing environmental regulations and bans on plastic bags can hinder the market growth over the coming years. Many organizations such as, Toyota and Braskem are initiating joint activities to produce polyethylene from plant biomass, which in turn will decrease the environmental concerns. Additionally, production of polyethylene from renewable resources such as coal, bio-based material, and shale gas will provide a price advantage over other plastic derivatives. Brazil will always get first mover advantage on account of being first in the production of polyethylene from renewable resources and is expected to witness significant growth over the forecast period.
HDPE (high density) is the leading product segment, accounted for more than 50% of the global market in past years and is expected to grow at a considerable rate over the forecast period on account of its increasing usage in construction items and the rising popularity of molded processing. Packaging is the fastest growing application segment and is anticipated to witness substantial demand owing to its growing application scope and broad usage in various sectors. In addition, its several benefits such as its clarity aspect, moisture barrier and stiffness properties make it a vital material in the packaging market.
Asia Pacific is the leading market for polyethylene and is anticipated to grow at a substantial rate in the near future. Major driving force includes emerging economies particularly China, Vietnam and India coupled with favorable environmental and economic conditions in the region. North America and Europe market is expected to grow at a moderate rate owing to the expansion of existing market to a maturity. Increasing infrastructure spending and rising construction in the emerging economies will open new avenues for the polyethylene demand owing to its need for basic infrastructure and housing in rapidly expanding urban areas. Technological advancement in the form of process and catalyst and technologies are helping converters and fabricators to adept with the more versatile and improved end-use applications. The cost-effective production of polyethylene from shale gas in the US and from sugar cane in Brazil has restructured production in the above regions and acted as a major breakthrough which in turn is expected to surge the polyethylene demand in the near future.
Major market players includes BASF SE, BP Plc, Chevron Philips, China National Petroleum Corporation, Dow Chemicals Company, Dow Polyethylene, DuPont, Exxon Chemicals, Formosa Plastics Ltd., Global Polymer Industries Inc., INEOS, Lone Star Chemical, LyondellBasell Industries Ltd., National Petroleum Company, NOVA Chemicals, Reliance Industries, and Sumitomo Chemicals. Competitive advantage for players lies in technological innovations and rising merger and acquisitions for the betterment of the production process.
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