Cross-linked polyethylene (XLPE) is a type of polyethylene thermoplastic that is cross-linked using gamma, UV, or e-beam radiation. XLPE has superior properties like strength and durability and has gained widespread acceptance for insulation of electric transmission cables and wires.
The global cross-linked polyethylene market is estimated to be valued at US$12.3 billion in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing construction industry has been a major driver of the rising demand for cross-linked polyethylene in recent years. Cross-linked polyethylene finds wide application as insulating material in power and telecommunication cables used extensively in residential, commercial and infrastructure construction projects. It provides corrosion resistance, durability and moisture resistance required for underground cable installation works. The rapid urbanization and infrastructure development activities in emerging economies of Asia Pacific and Middle East & Africa are expected to boost the consumption of XLPE insulated cables, thus augmenting the cross-linked polyethylene market growth over the forecast period.
Segment Analysis
The global Cross Linked Polyethylene market is dominated by the Piping Systems segment. More than 50% of the overall market demand comes from the piping systems segment owing to the strong presence of cross linked polyethylene in pressure pipes applications such as plumbing, sewage, oil & gas due to its corrosion resistance and durability properties. The pressure piping systems segment accounts for around 65-70% share of the overall piping systems segment. Within pressure piping the oil & gas industry is one of the largest consumers of cross linked polyethylene piping solutions for gathering lines, oil & gas transmission and distribution networks.
Key Takeaways
The Global Cross Linked Polyethylene Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 on account of rising infrastructure development activities across the globe.
Regional analysis:
Asia Pacific holds the highest share in the global Cross Linked Polyethylene market currently and is expected to maintain its dominance during the forecast period. Rising population coupled with rapid urbanization in countries such as India and China is driving the demand for piping infrastructure and pressure vessels in multiple industries. Furthermore, the presence of major construction markets in countries like China, India and South East Asian countries is augmenting the regional market growth.
Key players :
Key players operating in the Cross Linked Polyethylene market are The Dow Chemical Company, Arkema Group, Borealis AG, AkzoNobel N.V., LyondellBasell Industries Holdings B.V., PolyOne Corporation, SABIC. The Dow Chemical Company holds the largest market share owing to its wide range of polyethylene and plastics product offerings used in various applications. Arkema Group specializes in specialty materials and occupies a prominent position in the global CXPE market.
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