Global PEX (Crossed-Linked Polyethylene) Market Analysis & Forecast 2019-2024 - Increasing Demand for Cross-Linked HDPE Presents Opportunities

6/28/2019, 10:51 AM (Source: GlobeNewswire)

Dublin, June 28, 2019 (GLOBE NEWSWIRE) -- The "PEX (Crossed-Linked Polyethylene) Market by Type (HDPE, LDPE), Technology (PEXA, PEXB, PEXC), Application (Wires & Cables, Plumbing, Automotive), Region (APAC, Europe, North America, South America, Middle East & Africa) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The PEX market size is estimated at USD 6.1 billion in 2019 and is projected to reach USD 8.3 billion by 2024, at a CAGR of 6%.

The key companies profiled in this report on the PEX market include The Dow Chemical Company (US), Borealis (Austria), Solvay (Belgium), LyondellBasell (Netherlands), ExxonMobil Corporation (US), PolyOne Corporation (US), 3H Vinacom Co. (Vietnam), Falcone Specialities (Switzerland), Hanwha Chemical Corporation (South Korea), and HDC Hyundai EP (South Korea).

The growth of the construction, automotive, and power industries is expected to drive the PEX market.

The increasing demand for PEX wires & cables from the power, communication, and automotive industries is the major factor driving the global PEX demand during the forecast period. Furthermore, PEX is used in various applications such as building pipework and tubing systems, hydronic radiant heating, and cooling systems. However, PEX tubing cannot be used in applications exposed to sunlight and is vulnerable to being perforated by the mouthparts of plant-feeding insects. Moreover, there can be safety issues and chances of plumbing failure as well. These are some of the factors that are expected to restrain the market growth during the forecast period.

HDPE is the largest and fastest-growing type of PEX.

HDPE is estimated to be the fastest-growing type of PEX between 2019 and 2024. HDPE is expected to register a slight increase in demand as compared to LDPE owing to its superior properties such as high tensile strength and resistance to cracks and deformation that occurs due to external factors such as temperature, stress/strain, and climatic changes. Furthermore, the rising demand for HDPE in developing countries worldwide owing to the steady growth in construction spending and improved investments in the industrial and public infrastructure are the key factors responsible for market growth.

PEXa is the largest technology of PEX.

PEXa technology is estimated to lead to the PEX market in 2019. It is the most frequently used technology for the production of PEX as it offers the maximum and the most uniform degree of cross-linking. PEXa has numerous advantages such as improved resistance to stress cracking, decent weather-ability, better chemical resistance, and superb degradation stability. These properties are significant for cable insulation and pipe applications, thereby, driving the demand for PEXa technology.

Wires & cables are the largest application of PEX.

The wires & cables application is projected to lead the PEX market during the forecast period. PEX is extensively used as electrical insulation in power cables of all voltage ranges, though it is more appropriate for low and medium voltage applications. This is likely to drive the PEX market in the wires & cables application. PEX is the most common polymeric insulation material, which is resistant to weather, heat, and moisture. It delivers better protection to copper wires to transfer energy safely and efficiently. Hence, the growing demand for wires & cables from these applications is expected to drive the PEX market during the forecast period.

APAC is the largest as well as the fastest-growing market for PEX.

APAC (comprising China, Japan, India, South Korea, Australia and Rest of APAC) is estimated to be the largest and fastest-growing PEX market during the forecast period. The region's rapid industrialization and expanding transmission & distribution lines in the electrical & communication industry drive the demand for PEX-based wires & cables. Extensive use of XLPE wires in automotive battery cables, wire & cable coating layer, motors, and other high-voltage resistance materials in APAC is also driving the PEX market. Moreover, the growing residential and non-residential infrastructures in this region are leading to the construction of pipelines and tubing, which is boosting the PEX market in the plumbing application as well.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the PEX Market
4.2 PEX Market Growth, By Type
4.3 PEX Market, By Type and Region
4.4 PEX Market, By Application
4.5 PEX Market: Major Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Superior Properties Compared to Conventional Materials
5.2.1.2 Growing Demand From the Automotive Industry
5.2.1.3 Growing Demand in the Packaging Industry
5.2.1.4 Growing Need for Plastic Pipes in the Solar Industry
5.2.2 Restraints
5.2.2.1 Degradation From Sunlight and Perforation By Insects
5.2.2.2 Safety Issues and Chances of Plumbing Failure
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Cross-Linked HDPE
5.2.4 Challenges
5.2.4.1 Replacement of PEX By Polypropylene Pipes
5.2.4.2 Fluctuation in Raw Material Prices
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
5.4.1 Introduction
5.4.2 Trends and Forecasts of GDP
5.4.3 Global Automotive Production

6 PEX Market, By Type
6.1 Introduction
6.2 High-Density Polyethylene (HDPE)
6.2.1 Non-Corrosive and Efficient Pricing Makes HDPE PEX the Preferred Choice in Plumbing Application
6.3 LDPE
6.3.1 Usage at Higher Operating Temperatures, Makes Cross-Linked LDPE A Good Insulation Material in Wires & Cables Application
6.4 Others

7 PEX Market, By Technology
7.1 Introduction
7.2 PEXA
7.2.1 Excellent Heat Stability, Better Hot Tear, and Enhanced Stability to Increase the Use of PEXA Technology for Cable Insulation and Plumbing Applications.
7.3 PEXB
7.3.1 Cost-Effective and Higher Gel Percentage to Drive the PEXB Market, Globally
7.4 PEXC
7.4.1 Energy-Efficient Characteristics to Drive the PEXC Market in End-Use Applications, Globally

8 PEX Market, By Application
8.1 Introduction
8.2 Wires & Cables
8.2.1 Wires & Cables to Be the Largest Application of PEX
8.3 Plumbing
8.3.1 PEX Plumbing Installations Cost Less Than Copper Pipes
8.4 Automotive
8.4.1 Low Production Cost and Easy Availability are Factors Responsible for the High Consumption of PEX in the Automotive Application
8.5 Others

9 PEX Market, By Region
9.1 Introduction
9.2 APAC
9.2.1 China
9.2.1.1 Rising In-Vehicle Wiring Applications and Infrastructural Development are Augmenting the Market Growth
9.2.2 Japan
9.2.2.1 Advanced Communication Industry and Growing Use of Electronic Cars are Fueling the Growth of the PEX Market
9.2.3 South Korea
9.2.3.1 Infrastructural Developments and Rapid Industrialization are Providing Opportunities to Market Players for Growth
9.2.4 India
9.2.4.1 Upcoming Infrastructure Projects and Growing Urbanization are Fueling the Demand for PEX Products
9.2.5 Australia
9.2.5.1 Growth in the Construction, Power, and Telecommunication Industries is Driving the PEX Market
9.2.6 Rest of APAC
9.3 Europe
9.3.1 Germany
9.3.1.1 The Demand for PEX Wiring in the Growing Automotive Application is Driving the Market
9.3.2 Italy
9.3.2.1 Increasing Power Consumption to Drive the PEX Market in Wire & Cables Application
9.3.3 UK
9.3.3.1 Increased Spending on Infrastructure Activities to Drive the PEX Market
9.3.4 France
9.3.4.1 Growing Automotive, Packaging, and Medical Sectors are Expected to Drive the PEX Market
9.3.5 Russia
9.3.5.1 Increasing Demand for Automotive Wires and Cables is Expected to Support the Market Growth in Automotive
9.3.6 Turkey
9.3.6.1 Growth in the Telecommunication Industry of Turkey is Driving the Market for PEX in the Wires & Cables Application
9.3.7 Rest of Europe
9.4 North America
9.4.1 US
9.4.1.1 Increase in Radiant Heating Application and Demand for Packaged Foods to Drive the PEX Market
9.4.2 Canada
9.4.2.1 Growing Construction and Automotive Applications to Boost the Market in Canada
9.4.3 Mexico
9.4.3.1 Use of PEX Wires in the Power Industry and Automotive Wiring is Driving the Market in Mexico
9.5 South America
9.5.1 Brazil
9.5.1.1 Continuous Development in the Construction and Power Industries Due to the Steady Economic Growth is Driving the Market
9.5.2 Argentina
9.5.2.1 Increasing Use of Wires & Cables in the Automotive Industry is Expected to Boost the PEX Market
9.5.3 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.1.1 The Rapid Infrastructural Development Along With Low Cost and Easy Availability of Raw Materials is Boosting the PEX Market
9.6.2 UAE
9.6.2.1 The Growing Construction and Power Industries are Driving the PEX Market
9.6.3 Rest of the Middle East & Africa

10 Competitive Landscape
10.1 Introduction
10.2 Ranking of Key Players
10.3 Competitive Scenario
10.3.1 Expansion
10.3.2 Merger & Acquisition
10.3.3 Joint Venture
10.3.4 New Product Launch

11 Company Profiles
11.1 The Dow Chemical Company
11.2 Borealis AG
11.3 Solvay
11.4 Lyondellbasell
11.5 Exxonmobil Corporation
11.6 Polyone Corporation
11.7 3H Vinacom Co. Ltd.
11.8 Falcone Specialities AG
11.9 Hanwha Chemical Corporation
11.10 HDC Hyundai EP
11.11 Other Company Profiles
11.11.1 Kkalpana Group
11.11.2 Polylink Polymers (India) Ltd.
11.11.3 Saco AEI Polymers
11.11.4 Zhejiang Wanma Macromolecule Material Co. Ltd.
11.11.5 Sankhla Polymers Pvt. Ltd.
11.11.6 Silon S.R.O
11.11.7 Charloma Inc.
11.11.8 Hibco Plastics Inc.
11.11.9 Janco Inc.
11.11.10 Zimmer Inc.

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