Cross linked polyethylene is a polyethylene chemical with enhanced physical properties due to chemical cross-linking. It is widely used in pipe manufacturing owing to its excellent chemical resistance, stress cracking resistance and durability properties.
The global Cross Linked Polyethylene Market is estimated to be valued at US$ 5720.74 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for cross linked polyethylene is propelled by growing construction activities worldwide. The material finds widespread application in pressure pipes, hydronic pipes, drainage pipes and others. It helps in providing reliable, durable and sustainable piping solutions for various construction applications like water supply, sewage, oil & gas and heating & cooling. The excellent properties of cross linked polyethylene make it a preferable choice against other piping materials.
SWOT Analysis
Strength: Cross Linked Polyethylene (XLPE) cable features exceptional mechanical and electrical properties that make it an excellent insulation material. It offers durability, moisture resistance, and can operate at higher voltages and temperatures compared to traditional materials.
Weakness: XLPE requires a higher capital investment for manufacturing equipment compared to more conventional cable insulation materials. The cross-linking process also increases material costs.
Opportunity: Growing investments in transmission and distribution networks globally are driving demand for higher performance cable insulation like XLPE that can withstand tougher operating conditions. The need for more reliable power infrastructure offers opportunities.
Threats: Changing environmental regulations around PVC and other halogenated materials pose uncertainties in material selection. Developments in alternative insulation technologies also present competition over the long run.
Key Takeaways
The Global Cross Linked Polyethylene Market Size is estimated to be valued at US$ 5720.74 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
The Asia Pacific Cross Linked Polyethylene market accounts for over 35% of global demand currently. China alone accounts for a third of the world’s annual XLPE consumption driven by the country’s ongoing investments in grid upgrades and expanding rural electrification. India is another fast growing market in the region with stable power sector growth supporting cable insulation needs. Both countries are expected to lead consumption increases through 2030.
Key players operating in the Cross Linked Polyethylene include ExxonMobil Chemical Company, LyondellBasell Industries, 3H Vinacom Co., Hanwha Chemicals, Arkema Group, AkzoNobel N.V., Falcone Specialities AG, Borealis AG, and PolyOne Corporation. ExxonMobil is a major manufacturer with leadership in XLPE technology. LyondellBasell also has a strong presence and is investing to expand capacities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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