According to a research report by Stratview Research, PEX (Crossed-Linked Polyethylene) market is likely to witness a healthy CAGR of 6.1% during the forecast period. The growth of the market for PEX (crossed-linked polyethylene) is mainly driven by the construction and automotive industries in the Asia-Pacific region.
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Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Segments’ Analysis
Stratview Research has segmented the “PEX (Crossed-Linked Polyethylene) Market”by Product Type (HDPE, LDPE, and Others), by Technology Type (PEXA, PEXB, and PEXC), by Application Type (Wires & Cables, Plumbing, Automotive, and Others), and by Region.
Based on the product type, the market is segmented as HDPE, LDPE, and others. The HDPE segment dominated the market in 2019, and is expected to remain dominant during the forecast period. HDPE PEXs are used in pipe and tubing. The excellent properties of HDPE make it an ideal material choice for various applications. Further, it is easy to install and unlike copper, used for piping and tubing, HDPE PEX maintains its flexural strength and does not corrode. All these factors are likely to drive the growth of the segment during the forecast period.
Based on the technology type, the market is segmented as PEXA, PEXB, and PEXC. PEXA is the most dominant technology used for the production of PEX, as it offers the most uniform degree of cross-linking. In addition, it provides added advantages, such as higher chemical resistance, improved resistance to stress, and better degradation stability, which are estimated to drive the growth of this segment during the forecast period.
Based on the application type, the PEX (crossed-linked polyethylene) market is segmented as wires & cables, plumbing, automotive, and others. The wires & cables segment leads the market owing to its wide usage as electrical insulation in electric cables of all ranges of voltage, but the most preferred ones are for the medium and low ranges of voltage.
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing market for PEX (crossed-linked polyethylene) during the forecast period. The region’s market is underpinned by rapid industrialization and expansion in the distribution lines in the communication and electrical industries. In addition, the large-scale employment of wires & cables in the automotive industry is giving an impetus to the growth of the market, with China and India, being the major growth engines of the Asia-Pacific region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
Leading Players Covered in the PEX (Crossed-Linked Polyethylene) Market Report:
- 3H Vinacom Co., Ltd.
- Borealis AG
- Exxonmobil Corporation
- Falcone Specialities AG
- Hanwha Chemical Corporation
- HDC Hyundai EP
- LyondellBasell Industries N.V.
- Polyone Corporation
- Solvay S.A.
- The Dow Chemical Company.
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