03-Feb-17 Low cost, easy installation, and flexibility of cross-linked polyethylene over traditional materials, is driving the global cross-linked polyethylene market. The global cross-linked PE market is projected to reach US$9.43 bln by 2026 at a CAGR of 6.42%. The market is projected to grow at a CAGR of 6.4% and reach 5,424.9 KT by 2026 by volume. The growing use of Cross-Linked Polyethylene (PEX) pipes in potable water distribution applications has led to an increase in its share in the plumbing industry, which is driving the cross-linked polyethylene market in the Asia-Pacific region. Moreover, the growing use of plastic pipes in the solar industry and the significant growth witnessed during the last five years in the automotive industry is further expected to boost the growth of the cross-linked polyethylene market. Safety issues and the possibilities of plumbing failure is a major factor restraining the growth of the cross-linked polyethylene market globally.
High Density Polyethylene (HDPE) was the fastest-growing type in the cross-linked polyethylene market in 2015. The rapid growth of cross-linked HDPE is attributed to its thermosetting nature, which is due to the cross-linking which provides greater mechanical strength and improved stress crack resistance in comparison to the traditional HDPE. Moreover, its lower cost and utilization in the production of pipes and tubings which are used to transport hot/cold water and gases, makes it the fastest-growing application in the cross-linked polyethylene market.
Automotive is the fastest growing application segment in the global cross-linked polyethylene market. Use of cross-linked polyethylene in manufacturing automobile parts and battery cables in the transmission and power distribution channels is driving the global cross-linked polyethylene market. Moreover, the growing use of hybrid and electronic cars is also likely to drive the demand in the automotive application of the market.
The Asia-Pacific region is the fastest-growing market for cross-linked polyethylene, in terms of value and volume. Increasing investments by companies, especially in automotive sector, the growing shift of production facilities to the emerging economies of the region; the strong industrial base in the construction sector, are the major factors contributing to the growth of the cross-linked polyethylene market in this region.
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