Polyethylene market to be driven by Growing Demand from Packaging Industry

The Asia-Pacific polyethylene market is expected to grow at a CAGR of 11.3 % from 2013 to 2018, as per MicroMarket Monitor. Polyethylene is a most widely used plastic globally. Polyethylene is used for broad range of applications such as packaging, construction, electrical, electronics, and automotive, owing to its several characteristics, including light weight, high impact strength, high chemicals resistance, excellent process ability, and so on. Growing economies such as China, India, Russia, and Brazil offers huge impetus for the growth of polyethylene market in these countries. The Asia-Pacific polyethylene market is expected to grow at a CAGR of 11.3 % from 2013 to 2018. The demand for polyethylene is anticipated to increase in the future because of growing demand for high barrier thin film in the Asia-Pacific. The demand from countries such as India and China is expected to grow at a higher rate as demand for polyethylene is increasing tremendously from the end-user industries. Asia-Pacific is the largest market in the global polyethylene market. The consumption of polyethylene is projected to grow at a CAGR of 6.5% from 2013 to 2018. Growing demand from packaging and construction industry in the Asia-Pacific region is fuelling the demand for polyethylene from the growing end-use industries. Increasing transition of the items previously packaged in rigid containers to high quality flexibility packaging is further driving the demand in the region. The major countries in the region are China, India, and Japan. China accounts for the major share in the overall Asia-Pacific polyethylene market. Packaging is the largest application market in the region. However, the use of polyethylene in the automotive is growing at a faster rate. Europe is the second major market in the global polyethylene market. Automotive industry is the fastest-growing application market for polyethylene. The demand for polyethylene is growing within the end-user industry in Europe, owing to its properties, such as good heat resistance, electric insulation, corrosion inhibition, low density, and so on. Major countries in the region are Italy, France, and Germany. Consumption of polyethylene in the North America region is expected to grow at a CAGR of 8.30% between 2013 and 2018. Availability of cheap natural gas-based feedstock, owing to highly productive shale gas is stimulating polyethylene industry in the region. Packaging industry accounts for the major share of the North America polyethylene market. Major countries in the regions are the U.S., Canada, and Mexico.