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Polyethylene Market to Touch USD 142.03 Billion in 2029; Robust Demand for PE Packaging from the Food & Beverage Sector to Fuel Industry Growth

September 14, 2022 | Chemicals & Materials

The global polyethylene market size is expected to exhibit strong growth by reaching USD 142.03 billion by 2029. Fortune Business Insights™ in its report titled “Polyethylene Market Size, Share & COVID-19 Impact Analysis, By Type (HDPE, LDPE, LLDPE), By End-use Industry (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceuticals, Electrical & Electronics, Agriculture, and Others), and Regional Forecast, 2022-2029” observes that the market size in 2021 stood at USD 109.56 billion and touched USD 112.71 billion in 2022. The market is expected to exhibit a CAGR of 3.4% during 2022-2029. The rapidly progressing packaging sector, urbanization, and extensive PE packaging demand from the food & beverage industry are likely to fuel industry growth.


Thong Guan and Dow Chemicals Entered into a Collaboration to Enhance their Brand Image


Thong Guan and Dow Chemicals collaborated to launch a bio-based polyethylene product series in July 2020. The PE film is targeted to satisfy the strong demand for plastic films in Asia Pacific. This strategy may allow the company to enhance its brand image.  


Restrictions on Manufacturing Activities Hampered Market’s Progress


This industry was negatively affected during the COVID-19 pandemic due to manufacturing restrictions. The alarming spike in COVID-19 infections provoked governments to impose stringent lockdown rules. Reduced manufacturing activities across various sectors resulted in lack of materials required for polymer production. However, post-COVID-19 relaxations resumed production activities, allowing several key industry players to regain their market position and balance costs. This factor bolstered market growth during the pandemic.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/polyethylene-pe-market-101584


Robust Polymer Demand from Numerous End-use Industries to Bolster Industry Growth


Polyethylene is a polymer used for packaging goods. Its efficiency enhances its adoption in the construction industry. Strong demand from various end-use sectors is likely to elevate its demand. Further, increasing demand for the polymer from food & beverage, consumer goods, automotive, and electronics & electrical sectors may bolster the industry’s growth. Moreover, robust demand for effective packaging solutions that prevent contamination may bolster the material’s demand. Additionally, robust demand for the material to produce toys, sports goods, and fashion apparel may drive the polyethylene market growth.


Prominent Companies Announce Novel Products to Elevate Brand Image


Prominent companies operating in the market introduce novel products to strengthen their brand image. For example, ExxonMobil launched its high-density HD1954M in August 2021. It provides productivity gains, high rigidity, rendering packaging optimization, and Environmental Stress Cracking (ESCR). This strategy may enable the company to fulfill the polymer demand from the chemical and agrochemical sectors. Further, major companies deploy mergers, innovations, partnerships, research and development, acquisitions, and expansions to boost their market position.


Notable Industry Development



  • April 2022: ExxonMobil launched its Exceed S performance polyethylene resin that possesses toughness and offers easy processing.


List of Key Players Profiled in the Report



  • LyondellBasell Industries N.V. (Netherlands)

  • ExxonMobil Chemical (U.S.)

  • SABIC (Saudi Arabia)

  • Reliance Industries Limited (India)

  • INEOS (U.K.)

  • China National Petroleum Corporation (China)

  • China Petroleum & Chemical Corporation (China)

  • Ducor Petrochemicals (Netherlands)

  • Formosa Plastic Group (Taiwan)

  • Braskem (Brazil)

  • Repsol (Spain)

  • Borouge (UAE)

  • Borealis AG (Austria)

  • MOL Group (Hungary)


Further Report Findings



  • The market in Asia Pacific stood at USD 56.94 billion in 2021 and is expected to gain a huge portion of the global polyethylene market share. Furthermore, increasing demand for the product from the construction and infrastructure sectors is expected to elevate industry growth.

  • In Europe, robust demand for the material from the automotive sector is expected to enhance the product adoption. Further, the increasing popularity of the product’s advantages is expected to fuel industry growth.


Report Scope & Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD Billion); Volume (Million Ton)



Segmentation



By Type, End-use Industry, and Geography



By Type




  • HDPE

  • LDPE

  • LLDPE



By End-use Industry




  • Packaging

  • Automotive

  • Infrastructure & Construction

  • Consumer Goods/Lifestyle

  • Healthcare & Pharmaceuticals

  • Electrical & Electronics

  • Agriculture

  • Others



By Geography




  • North America (By Type, By End-use Industry, By Country)

    • U.S.

    • Canada



  • Europe (By Type, By End-use Industry, By Country)

    • Germany

    • France

    • U.K.

    • Italy

    • Spain

    • Rest of Europe



  • Asia Pacific (By Type, By End-use Industry, By Country)

    • China

    • Japan

    • India 

    • South Korea

    • Southeast Asia 

    • Rest of Asia Pacific



  • Latin America (By Type, By End-use Industry, By Country)

    • Brazil

    • Mexico

    • Rest of Latin America



  • Middle East & Africa (By Type, By End-use Industry, By Country)

    • South Arabia

    • UAE

    • Egypt 

    • Rest of Middle East & Africa




Polyethylene (PE) Market
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  • 2018-2020
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