Widespread usage of polyethylene material in varied industry verticals including packaging, automotive, household, electronic and construction is boosting demand for the polyethylene market. A market report by IndustryARC estimates that the global Polyethylene Market , which was valued at $182 billion in 2018, is estimated to grow at a CAGR of 3.8% throughout the forecast period 2019-2025.Polyethylene Market: Leading Segments
Food Safety and Standards Authority of India (FSSAI) has specified that polyethylene is recommended as a safe material to pack the food stuffs, drinking water and pharmaceutical products. Packaging regulations enhance safety and longer shelf-life of food products, which in turn improves food security. High-density polyethylene (HDPE) and low density polyethylene (LDPE) are the most commonly used types of polyethylene. Increasing demand for HDPE in production of packaging materials is contributing to growth of the packaging application share in the polyethylene market. Packaging application is set to grow at a CAGR of 4.5% over the forecast period.
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Polyethylene Market: Disruptive Trends
Polyethylene is being widely adopted in storage applications because of its excellent chemical resistant properties.
Polyethylene packaging material is preferred for a wide variety of food products packaging especially milk and milk products, fats, oils and fat emulsions, fruit and vegetable products, cereals and cereal products, fish and seafood, salt, spices, condiments and fruits and vegetable-based beverages.
Properties of polyethylene which include a fully recyclable, weather-resistant, lightweight, and corrosion-resistance nature are driving polyethylene demand across varied end user industries.
Polyethylene Market: Major Players
Some of the prominent players operating in the global polyethylene market are E. I. du Pont de Nemours and Company, SABIC, BP PLC, INEOS, BASF, SINOPEC, LyondellBasell Industries, Chevron Phillips, Formosa Plastics Ltd, Hanwha Group, Mitsui Chemicals Incorporated, Repsol SA, and Total SA.
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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.