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2020-02-25
700
Global
Polyethylene offer reduced weight, increased strength of the product manufactured to achieve faster and thinner product manufacturing at lower costs. Different quality requires different fabrication methods such as plastic welding, compounding, lamination and extrusion. Technology advancement over the period of time has triggered the growth not only in global polyethylene market but also the other industries such as plastic industry, packaging industry and more. Till 2017, total plastic production was 8.3 billion metric tons, majorly using polyethylene for its manufacturing. Polyethylene makes up 6.5% of all carbonated beverages and water bottles. The waste polyethylene is recycled to further manufacture products. One of the applications of polyethylene recycling is producing plastic cement that uses 60% - 40% polyethylene waste. This produced lightweight materials that increases ductility and workability and decreased the density. Polyethylene is obtained from petroleum oil, thus it has adverse impact on the non-renewable resources, for which various alternatives are being discovered on the back of sustainable environment.
The technological research and developments, raw material availability, plastics demand and more are some of the factors augmenting the growth of global polyethylene market.
On the basis of product type, high density polyethylene (HDPE) accounted for largest market share of 47.3% in 2017, on the back of its application n making plastic bags, bottles and equipment that provides high strength to weight ratio and high resistance to chemicals and acids. Plastic industry is the major end-user of the polyethylene. Global Plastic industry is growing at a rate of 4.8% annually, and significantly impacting the growth of polyethylene market.
Based on geography, Asia-Pacific accounted for largest market share of 49.3% in 2017. APAC has been the largest importer of polyethylene for supply to vast packaging industry, plastics industry and others. Europe polyethylene market grew at a rate of 2.1% annually, being the 2nd largest importer of polyethylene. The North America remains the top exporter of polyethylene in 2017 on the back of its shale gas revolution, which has the capacity to produce polyethylene at a faster pace than its domestic demand increases.
With the advent of environmental concerns towards sustainable management of non-renewable resources, trend of producing polyethylene has transformed from traditional practices of using crude oil towards using organic routes, through biological enzymatic reactions. Such trends will continue the growth pace of plastic industry on the line of sustainability.
Among all the type of plastics, polyethylene is most commonly used material, due to its unique features of durability, acid and chemicals resistant which have been contributing factor in the growth of plastics and packaging industries. Thus, global polyethylene market is driven by the growth of forward and backward linkages.
Manufacturing of polyethylene is regulated by different regulations under different governments that limit the manufacturing and supply of polyethylene on account of changing environmental campaigns towards inclusion of bio-based polyethylene. Also shifting towards bio-based polyethylene demands high expenditure as compared to current scenario.
The report covers the present ground scenario and the future growth prospects of the polyethylene market for 2017-2030 along with the global sales and global revenue of the polyethylene. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe. We have forecast the market on the basis of polyethylene production, manufacturers, plastic production, and plastic recycling.
Polyethylene market report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the polyethylene market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global polyethylene market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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