The global cross linked polyethylene market offers several advantages like durability, tensile strength, and chemical resistance which makes it suitable for usage in diverse industrial applications such as pipes, cables, and wires. As a thermosetting plastic, cross linked polyethylene exhibits superior characteristics that enables its use as an insulation material for wiring and cabling in construction, automotive as well as oil & gas industries.
The global cross linked polyethylene market size is estimated to be valued at US$ 6590.3 Mn in 2024 and is expected to exhibit a CAGR of 3.3% over the forecast period 2024 to 2031.
Key players operating in the Cross Linked Polyethylene Market Growth are BASF SE, Celanese Corporation, Daicel Corporation (Polyplastics Co. Ltd), DuPont de Nemours Inc., Ensinger, Korea Engineering Plastics Co. Ltd, Mitsubishi Chemical Corporation, Westlake Plastics Company, and Yuntianhua Group Co. Ltd. These players are focused on developing innovative products and adopting organic and inorganic growth strategies like mergers & acquisitions to strengthen their global presence.
The demand for cross linked polyethylene is increasing in the construction sector owing to properties like moisture resistance, rigidity and durability. It is widely used for manufacturing pressure pipes, oil & gas pipes, and conduit pipes. Rapid urbanization and infrastructural development activities across regions are fueling the consumption of XLPE for various construction applications.
The cross linked polyethylene market is also expanding globally on account of rising export & import of XLPE products between nations. Key manufacturers are strategizing their foreign operations to cater to the surging requirements from developing markets in Asia Pacific and Middle East & Africa. Countries like India, China, Saudi Arabia, and UAE offer huge untapped growth potential for cross linked polyethylene producers.
Market drivers:
Rising construction activities: Cross linked polyethylene finds major usage in pressure pipes, oil & gas pipelines, and conduit pipes used in residential, commercial and industrial construction. The booming real estate and infrastructure industries worldwide has increased the demand for cross linked polyethylene for various construction applications.
Key Takeaways
Key players operating in the cross linked polyethylene market are BASF SE, Celanese Corporation, Daicel Corporation (Polyplastics Co. Ltd), DuPont de Nemours Inc., Ensinger, Korea Engineering Plastics Co. Ltd, Mitsubishi Chemical Corporation, Westlake Plastics Company, and Yuntianhua Group Co. Ltd.
The demand for cross linked polyethylene is increasing in the construction sector owing to properties like moisture resistance, rigidity and durability.
The cross linked polyethylene market is also expanding globally on account of rising export & import of XLPE products between nations. Countries like India, China, Saudi Arabia, and UAE offer huge untapped growth potential for cross linked polyethylene producers.
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