Cross linked polyethylene (XLPE) is a polyethylene thermoplastic material that has been cross linked using irradiation, peroxide, or silane. It has advantages such as high density, tensile strength, and resistance to moisture absorption and chemicals. It finds extensive use in insulation of power cables, water pipes, and insulation of wires and cables.
The global Cross Linked Polyethylene Market is estimated to be valued at US$ 6590.3 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing demand from pipe and cables application is one of the key trends that is expected to drive the growth of the global cross linked polyethylene market over the forecast period. Cross linked polyethylene has preferable properties such as high density, tensile strength, and excellent resistance towards chemicals that make it suitable for use in power cables and pipes insulation applications. Growing construction activities along with infrastructural developments are augmenting the demand for piping systems and cables worldwide, which in turn is encouraging the growth of the cross linked polyethylene market. The expanding utilities segment and investments in upgrading the transmission and distribution infrastructure are further contributing to the rising consumption of XLPE in insulation of power cables.
Segment Analysis
The global cross linked polyethylene market is dominated by the plumbing segment. It accounts for over 40% of the total market share owing to the excellent chemical resistance and mechanical properties of XLPE. It does not corrode, rust or weaken with age or exposure making it suitable for manufacturing plumbing pipes and fittings.
Key Takeaways
The global cross linked polyethylene market is expected to witness high growth in the forecast period. The increasing demand from plumbing and wire and cable industries is expected to drive market growth. Global Cross Linked Polyethylene Market Size is estimated to be valued at US$ 6590.3 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2024 to 2031.
Regional analysis
Asia Pacific region currently dominates the cross linked polyethylene market and is expected to maintain its lead position in terms of consumption. The growing construction and infrastructure development activities in China, India are driving the demand for plumbing pipes and fittings. The presence of a large number of XLPE manufacturers and low manufacturing costs make Asia Pacific an attractive market.
Key players
Key players operating in the cross linked polyethylene market are BASF SE, Celanese Corporation, Daicel Corporation (Polyplastics Co. Ltd), DuPont de Nemours Inc., Ensinger, Korea Engineering Plastics Co. Ltd, Mitsubishi Chemical Corporation, Westlake Plastics Company, and Yuntianhua Group Co. Ltd. BASF SE is one of the largest producers of XLPE globally. Celanese Corporation offers a wide range of polyethylene grades for various applications including plumbing and wire insulation.
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