Increased application of PE based products in packaging, building and construction sectors to be the latest trend observed in the global PE resins market
Valley Cottage, NY -- (SBWIRE) -- 05/09/2019 -- As per the fact based research report titled "PE Resins Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)" crafted by Future Market Insights, the global market is anticipated to reach a significant valuation by the end of the year of assessment. The research report focusses on market trends, opportunities, drivers and restraints that have a direct or indirect influence on the growth of the global PE resins market. According to the report, to leverage the surge in demand for PE resins, manufacturers across the globe are focussing on expansion in PE resin production capacity.
Additionally, falling crude oil prices across the globe have created opportunities for manufacturers of HDPE, LDPE, LLDPE and TPE resins. Falling crude oil prices have significantly reduced the raw material cost for resin manufacturers. Crude oil prices are expected to remain low for a few years, attributed to the shrinking demand from Chinese refineries and increasing production capacity in North America. To gain benefit from this global scenario, PE resin manufacturers need to do a deep dive analysis of the market and build cost models.
The research report covers analysis of various market segments across key regions in the globe, such as North America, Eastern Europe, Latin America, Western Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The in-depth market segmentation coupled with historical data and future market projections from value and volume perspectives for a period of 10 years delivers a comprehensive research approach that the reader can use to establish a global footprint.
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Global Market Study on PE Resins: Competitive Analysis
The research report on the global PE resins market covers an in-depth analysis on the key players operating in the market. These include companies such as Exxon Mobil Corp., E.I. du Pont de Nemours & Co., LyondellBasell Industries NV, LG Chem Ltd., Formosa Plastics Corporation, The Dow Chemical Company, Braskem S.A, Saudi Arabia Basic Industries Corporation, Ineos Group Limited, LANXESS Corporation, Chevron Phillips Chemical Co. LLC, Saudi International Petrochemical Company – Sipchem, Borouge, Versalis S.p.A., NOVA Chemicals Corporation and BASF SE. The market intelligence on these players covers aspects such as SWOT analysis, product portfolio analysis, key developments, innovations, geographical spread, marketing strategies, pricing analysis and other key financials.
Global Market Study on PE Resins: Segmental Snapshot
The global PE resins market is segmented on the basis of resin type, end use and region.
By resin type, HDPE is largely used in various applications. The HDPE segment is the largest and is expected to dominate the market in the coming years with a high market valuation of around US$ 82 Mn by the end of the year of assessment. The LLDPE segment also shows high potential for growth and is the second largest segment with the highest value CAGR throughout the period of forecast.
By end use, packaging segment is the most attractive and is expected to lead the market with a high market share. The consumer goods segment is projected to grow at a high value CAGR of 4.0% during the forecast period, 2017-2027.
By region, Asia Pacific excluding Japan is the most lucrative owing to the presence of major players in the emerging economies in this region. The PE resins market in APEJ is projected to grow at the highest CAGR of 5.0% during the said period to attain a higher market valuation by the end of the year of assessment (2027).
Global Market Study on PE Resins: Forecast Analysis
According to the research report, the global market for PE resins is anticipated to reach a value of more than US$ 180 Bn by the end of 2027 and is projected to grow at a CAGR of 3.5% during the 2017-2027 timeline.
Global Market Study on PE Resins: Dynamics Influencing Growth
Various aspects are responsible for changing the dynamics of the global market. Factors such as building cross border trade spurring the demand of LLDPE and rising construction industry across various regions have positively influenced the growth of the global PE resins market.
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