Polyethylene Market to Expand at 4.1% CAGR over 2024 to 2032; LyondellBasell Produced Virgin Quality Polymers for Strengthening Industry Footing

The global polyethylene market size stood at USD 110.23 billion in 2023 and is slated to rise from USD 114.89 billion in 2024 to USD 158.49 billion by 2032 at a CAGR of 4.1% during 2023-2030. The surge is attributed to the rapid expansion of the packaging sector and increasing industrialization.

Fortune Business Insights™ presents this information in its report titled “Polyethylene Market Size, Share & COVID-19 Impact Analysis, By Type (HDPE/MDPE, LDPE, and LLDPE), By End-use Industry (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceuticals, Electrical & Electronics, Agriculture, and Others), and Regional Forecast, 2024-2032”.

COVID-19 Pandemic Impacted Industry Expansion Owing to Fluctuations in the Prices of Crude Oil

The pandemic impacted global industry growth driven by a decrease in the rate of operations and reducing production in numerous industries. Besides, the period saw a decline in the prices of crude oil considering the gap in supply and demand. However, a high product demand was recorded from the packaging and healthcare sectors. This helped in the revival of industry growth to some extent.

LyondellBasell Produced Virgin Quality Polymers to Advance Circular Economy

In May 2021, LyondellBasell advanced toward its circular economy ambition by producing virgin quality polymers. The raw materials used in the process were derived from plastic waste at the company’s Wesseling-based site.

The company planned to market the products made from renewable-based and recycled raw materials under the brand name Circulen.

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

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

Soaring Product Demand from Consumer Goods and Food & Beverages Industries to Impel Industry Expansion

Polyethylene market growth is being impelled by the rising product deployment for packaging beverages, food, and consumer goods. This is on account of various factors such as durability, easy customization, and resistance to moisture.

However, the industry expansion could be affected by the fluctuating prices of raw material and the availability of substitute products.

Key Market Players Forge Partnership Agreements to Increase their Geographical Footprints

Pivotal players in the market are entering collaborations and partnership agreements for expanding the reach of their products. Several companies are also focusing on merger agreements and acquisitions for increasing their geographical footprints. Additional strategies include an upsurge in research activities and the development and launch of new products.

Key Players

• 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)   

Key Industry Development

• December 2022 – SABIC launched a new HDPE solution based on mechanically recycled content. The move was aimed at creating a new sustainable business model in Saudi Arabia.

Further Report Findings

• Asia Pacific polyethylene market share dominated the global industry value and is estimated to grow at a considerable pace over the study period. The surge is due to the escalating product demand from the packaging and construction sectors in the region.


• The North America market is expected to register substantial expansion throughout the analysis period. The growth can be credited to the soaring product demand from the healthcare & pharmaceuticals, packaging, electrical & electronics, and automotive industries.


• Based on type, the market is segmented into Linear Low-density Polyethylene (LLDPE), Low-density Polyethylene (LDPE), and High-density Polyethylene (HDPE)/Medium-density Polyethylene (MDPE). The HDPE segment is expected to depict lucrative expansion over the forecast period. The rise is propelled by the surging product deployment across numerous applications including ballistic plates, food storage containers, and others.


• On the basis of end-use industry, the market is categorized into healthcare & pharmaceuticals, electrical & electronics, consumer goods/lifestyle, infrastructure & construction, automotive, agriculture, packaging, and others. The packaging segment held a dominating share in the market and is touted to register substantial growth over the forecast period. The expansion is propelled by growing product deployment in producing packaging solutions for the food & beverage industry.

Table of Segmentation