Polyethylene (PE) Market to Reach USD 130.26 Billion by 2027; Rising Usage in Packaging of Electric Spare Parts to Aid Growths

The global polyethylene (PE) market size is projected to reach USD 130.26 Billion by 2027. The increasing usage of PE in the packaging of electrical spare parts and automotive worldwide is set to accelerate growth. Fortune Business Insights™ published this piece of information in a recent study, titled, “Polyethylene Market Size, Share & COVID-19 Impact Analysis, By Type (HDPE, LDPE, LLDPE), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Agriculture, Others), and Regional Forecast, 2020-2027.” The report further mentions that the global market stood at USD 107.43 Billion in 2019. But, it is set to exhibit a CAGR of 3.4% during the forecast period between 2020 to 2027.

UPM Raflatac Adds Forest Film PE™ in its Range of Sustainable Film Labeling Solutions

In May 2020, UPM Raflatac, a supplier of label materials for branding and promotion, headquartered in Finland, introduced its new PE film label named Forest Film PE™. The new product would be able to complement the company’s wide range of sustainable film labeling solutions. With this launch, UPM Raflatac will be capable of moving forward towards a smarter future.

As per one of the company officials, “The new film label material will help customers to lower the reliance on fossil fuels, thereby reducing the carbon footprint in the value chain. At the same time, it wouldn’t affect the recyclability of the final package negatively.”

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

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

Rising Demand for Saline Bottles & PPE amid COVID-19 to Favor Growth

The usage of polyethylene in the food & beverage industry is surging rapidly because of the increasing production of packaging materials. Manufacturers nowadays are demanding for effective packaging to lower quality loss and food contamination. Polyethylene has an excellent moisture barrier property that is able to protect food items from internal and external environments. Besides, the ever-increasing demand for curtains, personal protective equipment (PPE), plastic products, saline bottles, and sampling containers owing to the outbreak of the COVID-19 pandemic is set to boost the PE market growth in the coming years. However,

Key Players Aim to Compete by Introducing Novel Solutions

The market houses a wide range of renowned manufacturers that are striving constantly to gain a competitive edge. LyondellBasell, a dominant player in the market, is currently dealing with the refining, chemicals, and plastics sectors. It is engaging in the strategy of acquisition to compete in the market. Some of the others are launching state-of-the-art products to surge sales and cater to the rising demand.

Fortune Business Insights™ provides a list of all the polyethene manufacturers operating in the global market. They are as follows:

• LyondellBasell Industries N.V. (Netherlands)


• ExxonMobil Chemical (U.S.)


• China National Petroleum Corporation (China)


• INEOS (UK)


• China Petroleum & Chemical Corporation (China)


• SABIC (Saudi Arabia)


• Ducor Petrochemicals (Netherlands)


• Reliance Industries Limited (India)


• Formosa Plastic Group (Taiwan)


• Braskem (Brazil)


• Repsol (Spain)


• Borouge (UAE)


• Borealis AG (Austria)


• MOL Group (Hungary)


• Beaulieu International Group (Belgium)


• Other Key Players

A Significant Industry Development-

• January 2018: Dow Packaging and Specialty Plastics, a business unit of DowDuPont Materials Science, recently created a novel formulation of polyethylene resins. The main aim of this company is to develop a sustainable PE laminate solution that can be used for flexible packaging applications.

Further Report Findings-

• Based on the end-use industry, the automotive segment held 5.3% in terms of polyethylene market share in 2019.


• The consumer goods/lifestyle segment, on the other hand, is anticipated to showcase a significant growth because of the high demand for toys, sports goods, ice boxes, housewares, and fashion apparels worldwide.


• Asia Pacific procured USD 49.40 billion in terms of revenue fueled by the rising demand for polythene from the infrastructure & construction, as well as packaging industries. The region is also set to dominate the market throughout the forthcoming years.


• Europe is set to retain its second position on account of the increasing demand for the material from the automotive industry.

The global market can be segmented in the following way: