Inclination towards the cross linked polyethylene market applications in the medical surgeries over traditional polyethylene wear is expected to enhance the total knee arthroplasty survival rates.
Sellbyville, DE -- (SBWIRE) -- 10/23/2018 -- GMI presents a most up-to-date research on "Cross Linked Polyethylene Market"– Global Industry Analysis, Size, Share, By Process (Chemical, Physical), By Technology (Peroxide, Silane Grafting, Electron Beam) By Application (Plumbing, Wires & Cables, Automotive, Medical, Chemical Industry) Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, Italy, France, Spain, UK, Poland, Benelux, Nordic, China, India, Japan, South Korea, Australia, Thailand, Malaysia, Indonesia, Vietnam, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa) and Forecast 2017 – 2024".
Increasing demand for efficient plumbing systems, radiant heating systems along with shifting economic & demographic trends will drive the cross linked polyethylene market. Growing construction spending to support the rising population is surging the demand for cross linked polyethylene (PEX) market.
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Growing automotive industry along with increasing application of plastic pipes in the solar industry, will further augment the product penetration. In addition, the popularity of PEX pipes is increasing over traditional copper tubes in plumbing applications which is enhancing the Cross linked polyethylene market growth. This is due to PEX pipes re an inexpensive substitute for PVC pipes that offer flexibility during installation and can effectively handle water pressure at joints in residential water distribution system.
HDPE dominated the overall industry and expected to witness growth over the forecast period owing to the high tensile strength and excellent resistance to abrasive wear. It find applications in various industrial and domestic plumbing services. HDPE can resist varying temperature conditions and is cost-effective thus, making it preferred for use in the production of pipes.
Chemical process segment accounted for over 80% of the market share by 2024. In this method, initiators or chemicals are used to generate free radicals which result in cross-linking. This process is more preferred owing to factors including the ability to crosslink at room temperature, low cost and obtaining higher gel percentage as compared to physical cross-linking.
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Peroxide technology segment accounted for over 1,700 kilo tons in 2017. It was observed that crosslinking of polyethylene by using peroxide gives a more uniform degree of crosslinking of up to 90% as compared to other processes. This method of manufacturing is having excellent heat stability, good shelf life stability and is more economical, thereby requiring low investment by manufacturing companies making it a preferable among manufacturers.
Plumbing application is estimated to witness CAGR over 6% up to 2024. PEX acts as a substitute for PVC and copper as they do not perform inefficiently when chlorinated water is passed through them over prolonged periods and when subjected to high temperatures. This is a highly lucrative area of growth for producers in this industry. Thus, the players in the industry are focusing on investing extensively towards the R&D sector to develop more durable and resilient verities of PEX based Cross linked polyethylene market.
Asia Pacific is projected to exceed USD 3 billion by 2024. Factors such as growing demand for plumbing in the region owing to increased urbanization in the commercial sector are expected to drive the market growth. China is the largest market in the region owing to rising R&D activities, easy availability of raw materials, and rising development strategies to meet the Cross linked polyethylene market demand in this region.
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Global cross linked polyethylene market is highly fragmented owing to the presence of several market players. Key industry participants are Dow Chemical Company, ExxonMobil, Borealis, PolyOne, Arkema, AkzoNobel, Hanwha Chemical, and 3H Vinacom. Other significant participants in the industry include Falocne Specialities, Kkalpana, Hyundai EP Kanoo, Saco Polymers, Polylink Polymers, Lyondellbasell, Silon, Polyone, Zimme, and Vanderbilt Chemicals are expected to upgrade their existing production capacity and implement innovative solutions through investments in R&D and accomplish a competitive advantage.