The new report by Expert Market Research titled, ‘Global PEX (Crossed-Linked Polyethylene) Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global PEX market, assessing the market based on its type, process, technology, application and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 6.2 billion
• Forecast CAGR (2023-2028): 7%
• Forecast Market Size (2026): USD 9.2 billion
The global PEX market witnessed modest growth in the historical period, due to increased awareness and subsequent demand among end use industries with regards to excellent properties of flexibility, insulation, among others.
PEX (Crossed-Linked Polyethylene) Industry Definition and Major Segments
Cross-linked polyethylene, often known as PEX or XLPE, is a form of polyethylene that has been cross-linked. It is made of tubing and is mostly utilised in the construction of pipework structures, hydronic radiant heating and cooling systems, water piping, and the insulation of high-voltage electrical cables. Cross-linked polyethylene is mostly used to replace traditional materials such as copper, galvanised steel, and PVC piping because of its low rusting tendencies, cost, and improved circulation. The use of PEX in the plumbing sector has multiple advantages like flexibility, lower raw material prices, easy installation, good environmental benefits etc.
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By type, the market is segmented into:
• High-Density Polyethylene (HDPE)
• Low-Density Polyethylene (LDPE)
By process, the market is split into:
By technology, the market is classified into:
• PEXA (Peroxide Method)
• PEXB (Silane Method)
• PEXC (E-Beam Method)
By application, the market is bifurcated into:
• Wires & Cables
• Chemical Industry
The regional market for PEX includes:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
PEX (Crossed-Linked Polyethylene) Market Trends
Geographically, the Asia Pacific holds the largest market share, and in the forecast period this region will continue to dominate the market shares. Increasing infrastructure investment and setting up of factories and support services in developing countries like India, China, Japan, are some of the key drivers propelling this region’s market.
This domination of the market is expected to continue as development of sewer systems, natural gas production plants and their expansion systems, will accelerate the market growth in the forecast period. The North America and European regions are anticipated to showcase decent CAGR growth in the forecast period, owning to increased demand from end use applications in the automobile, wires, and cables sector.
Technological breakthroughs in manufacturing technologies and material sciences, are expected to fuel the market growth. Increased demand from automobile and construction sectors for insulation of wires and cables are anticipated to drive the market in the forecast period. However, due to the tendency of PEX tubing to become fragile and rupture under direct sunlight, may limit the market’s growth.
The fluctuating prices of crude oil having a significant impact on polymers and in turn, on PEX market can also hinder the growth of the market. Nevertheless, advancements in PEX technology and with the availability of cross-linked HDPE, boasting superior chemical resistance and strength, can improve the market’s awareness, penetration and in turn its growth, in the forecast period.
Key Market Players
The major players in the global market involve The Dow Chemical Company, Borealis AG, Solvay SA, Lyondellbasell Industries N.V., Exxonmobil Chemical Company, Inc., Polyone Corporation, Akzonobel N.V., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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