Cross Linked Polyethylene Market Growth Accelerated by Increasing demand from pipe and cables application

Cross Linked Polyethylene Market


Cross linked polyethylene (XLPE) is a polyethylene thermoplastic material that has been cross linked using irradiation, peroxide, or silane. It has advantages such as high density, tensile strength, and resistance to moisture absorption and chemicals. It finds extensive use in insulation of power cables, water pipes, and insulation of wires and cables.

The global Cross Linked Polyethylene Market is estimated to be valued at US$ 6590.3 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increasing demand from pipe and cables application is one of the key trends that is expected to drive the growth of the global cross linked polyethylene market over the forecast period. Cross linked polyethylene has preferable properties such as high density, tensile strength, and excellent resistance towards chemicals that make it suitable for use in power cables and pipes insulation applications. Growing construction activities along with infrastructural developments are augmenting the demand for piping systems and cables worldwide, which in turn is encouraging the growth of the cross linked polyethylene market. The expanding utilities segment and investments in upgrading the transmission and distribution infrastructure are further contributing to the rising consumption of XLPE in insulation of power cables.

Segment Analysis
The global cross linked polyethylene market is dominated by the plumbing segment. It accounts for over 40% of the total market share owing to the excellent chemical resistance and mechanical properties of XLPE. It does not corrode, rust or weaken with age or exposure making it suitable for manufacturing plumbing pipes and fittings.

Key Takeaways
The global cross linked polyethylene market is expected to witness high growth in the forecast period. The increasing demand from plumbing and wire and cable industries is expected to drive market growth. Global Cross Linked Polyethylene Market Size is estimated to be valued at US$ 6590.3 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2024 to 2031.

Regional analysis
Asia Pacific region currently dominates the cross linked polyethylene market and is expected to maintain its lead position in terms of consumption. The growing construction and infrastructure development activities in China, India are driving the demand for plumbing pipes and fittings. The presence of a large number of XLPE manufacturers and low manufacturing costs make Asia Pacific an attractive market.

Key players
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. BASF SE is one of the largest producers of XLPE globally. Celanese Corporation offers a wide range of polyethylene grades for various applications including plumbing and wire insulation.

Comments

Post a Comment

Popular posts from this blog

The Future Of Solar Energy: Advancements In Thin Film Solar Cell Technology

Image
  Thin Film Solar Cell  Solar energy has emerged as a promising solution to combat climate change and meet the growing global demand for clean, sustainable power. Among the various solar technologies, thin film solar cells have been gaining significant attention due to their potential for cost-effectiveness, flexibility, and efficiency. This article explores the future of solar energy with a focus on the advancements in thin film solar cell technology, highlighting their benefits, ongoing research, and potential applications. Thin Film Solar Cell are a type of photovoltaic technology that utilizes thin semiconductor layers to convert sunlight into electricity. Unlike traditional silicon-based solar cells, thin film solar cells are manufactured by depositing thin layers of light-absorbing materials onto flexible substrates. These materials can include amorphous silicon, cadmium telluride (CdTe), copper indium gallium selenide (CIGS), and organic compounds. Advantages of Th...
Read more

Gastroesophageal Reflux Disease (GERD) Treatment Devices Market is expanding rapidly with Ethicon introducing LINX Reflux Management System to provide effective long-term control over GERD

Image
  Gastroesophageal reflux disease (GERD) is a type of condition wherein the stomach content moves up from the stomach or esophagus and enters the throat, causing a painful burning sensation. Some common factors that are considered to be the cause of GERD are inappropriate diet, the wrong posture of the body, abnormal eating habits such as fast eating or excessive swallowing, smoking, irregular meal timings, and drinking too much alcohol or coffee. As far as regional impact is concerned, North America seems to be exhibiting a positive outlook with rising incidence of GERD in the region. Besides rapidly growing geriatric population is expected to accelerate the regional Gastroesophageal Reflux Disease (GERD) Treatment Devices Market growth in the near future. As more individuals are becoming health conscious, the number of Gastroesophageal Reflux Disease (GERD) Treatment Devices offered for sale on the market is increasing. Before making a purchase, the consumer must...
Read more