What is the global market size of Polyethylene (PE) Market?

Global Polyethylene (PE) Market size was valued at USD 102.49 billion in 2021 and is poised to grow from USD 106.69 billion in 2022 to USD 153.18 billion by 2030, growing at a CAGR of 4.1% in the forecast period (2023-2030).

Polyethylene (PE) Market Size, Share, Growth Analysis, By Type(High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE)), By End User(Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle), By Region - Industry Forecast 2025-2032

Q: What is the key driver of Global Polyethylene (PE) Market?

The rise in demand amongst various end user sectors for high strength plastic is boosting the market growth. Several industries, including the automotive, electrical & electronics, food & beverage, and consumer goods, are seeing an increase in demand for PE. It is suitable for industrial usage, primarily for the packaging of electrical and automotive replacement components, owing to qualities like high stiffness. Manufacturers in the automobile sector are concentrating on lightening their vehicles to increase their efficiency. PE is used because it is lightweight, easy to produce, good for sealing, and has rigidity properties.

Report ID: SQMIG15E2065 | Region: Global | Published Date: October, 2024
Pages: 254 | Tables: 68 | Figures: 75

Polyethylene (PE) Market News

In November 2021, a significant milestone in the widespread deployment of post-consumer resin (PCR) for elastic film applications was recently disclosed by Charter Next Generation and NOVA Chemicals Corporation. Both businesses have successfully worked together to increase the supply of more environmentally friendly packaging films and create a circular economy where valuable plastic components are reprocessed and reused repeatedly. In October, PCR railcar extensions arrived at the CNG production plants.
In May 2021, LACTEL and INEOS collaborated to create the first HDPE milk bottles in the world by using circular polyethylene made from post-consumer recycled materials. LACTEL is the first dairy brand to investigate environmentally friendly packaging options. A trial run of the new product will be conducted in the Montauban manufacturing facility.

Polyethylene (PE) Market Report Snapshots

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Global Polyethylene (PE) Market size was valued at USD 115.62 billion in 2022 and is poised to grow from USD 120.36 billion in 2023 to USD 165.99 billion by 2031, growing at a CAGR of 4.1% in the forecast period (2024-2031).

All across the world, there are significant producers of polyethene. One of the well-known businesses, LyondellBasell, is involved in the plastics, chemicals, and refining industries. It offers a huge selection of PE items. The company's use of the acquisition strategy has demonstrated its superiority across the globe. On the other side, ExxonMobil is growing across the globe via tactics like joint ventures and by offering a wide variety of polymer goods. 'Exxon Mobil Corporation', 'Dow Chemical Company', 'LyondellBasell Industries N.V.', 'SABIC (Saudi Basic Industries Corporation)', 'Formosa Plastics Corporation', 'Braskem', 'Chevron Phillips Chemical Company LLC', 'INEOS', 'Mitsubishi Chemical Corporation', 'NOVA Chemicals Corporation', 'Reliance Industries Limited', 'Sinopec Group', 'Total S.A.', 'Borealis AG', 'BASF SE', 'LG Chem Ltd.', 'China National Chemical Corporation (ChemChina)', 'Lotte Chemical Corporation', 'Versalis S.p.A.', 'Westlake Chemical Corporation'

Several industries, including the automotive, electrical & electronics, food & beverage, and consumer goods, are seeing an increase in demand for PE. It is suitable for industrial usage, primarily for the packaging of electrical and automotive replacement components, owing to qualities like high stiffness. Manufacturers in the automobile sector are concentrating on lightening their vehicles to increase their efficiency. PE is used because it is lightweight, easy to produce, good for sealing, and has rigidity properties.

Owing to its attributes, including durability, ease of customisation, and moisture resistance, manufacturers favour PE for packaging applications. The fact that polythene is a cheap material makes it useful for packaging. This polymer is the perfect choice because of its simple recycling capabilities, chemical resilience, and capacity to shield the contained product from any outside disturbances. Due to the aforementioned features, it is demonstrating a rapidly growing demand from the food and beverage and consumer goods industries.

The region with the largest market share is Asia Pacific, which is expected to hold the position for the duration of the forecast. This is related to the fact that the region is home to major consumers like China and India. Reliance Industries Limited reports that the demand for PE increased by 4%. Growing demand from sectors like packaging and infrastructure & construction is what's fueling market expansion in this nation.

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