Global Polyethylene Market Report to 2027: Rising Application of Polyethylene in Agriculture Drives Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Global Polyethylene Market: Analysis by Demand, by Production, by Product Density, by Application, by Region Size and Forecast with COVID-19 Impact Analysis and Forecast to 2027” was added to from ResearchAndMarkets.com offer.

Polyethylene, often referred to as polyethylene, is the most common type of plastic on the planet. It is also a commonly used polymer that is chemically produced from ethylene. Polyethylene is used in a number of items including plastic containers, plastic films and plastic bags because it can be easily reshaped after being melted into a liquid.

In 2021, the Global Polyethylene Market was valued at 139.95 Billion US$ and is projected to reach 186.16 Billion US$ by 2027. Additionally, the Global Polyethylene Market by Demand reached 109.32 Million tonnes in 2021 and is expected to reach 140.01 million tonnes by 2027.

The growth and expansion of industries such as electrical and electronics, packaged food and beverages, and automotive in most countries are likely to impact the global polyethylene market.

Rising disposable income and increasing number of single person households would impact the demand for polyethylene in the coming years. The Polyethylene Market is expected to grow at a CAGR of 4.87%, during the forecast period 2022-2027. In 2021, the global polyethylene market by production stood at 108.69 million tons and is expected to reach 134.84 million tons by 2027.

Market Segmentation Analysis:

  • By Product Density: The report divides the global polyethylene market into three different product densities: high-density polyethylene (HDPE), low-density polyethylene (LDPE), and linear low-density polyethylene (LLDPE). The high-density polyethylene (HDPE) segment held around 43% of the polyethylene market share in 2021. The HDPE market has witnessed growth in the historical years, owing to several factors such as expanding end-use industry, the growing demand for polyethylene and the increase in technological advances in the production of HDPE.

  • By Application: The report divides the global polyethylene market into five applications: packaging, construction, household, agriculture, and others. The packaging segment held the maximum share of 60% in the global polyethylene market. The growth of the food and beverage industry and the growing concerns towards the environment are mainly driving the demand for polyethylene packaging.

  • By Region: According to this report, the global polyethylene market can be divided into four major regions: Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), North America (United States , Canada and Mexico), Europe (Germany, UK, France, Spain, Italy and Rest of Europe) and Rest of the World. Polyethylene market in Asia-Pacific held a 51% market share in 2021, mainly due to the inexpensive and affordable quality of polyethylene for most producers who use polyethylene as a raw material for other plastic products .

COVID-19 impact analysis and way forward:

The outbreak of the COVID-19 pandemic has increased the use of polyethylene. The rapid development of demand for online sales channels in many industries such as food and beverage, consumer goods and pharmaceuticals has greatly boosted the use of polyethylene packaging. Polyethylene’s versatility, strength, low cost and light weight have made it a popular packaging material, especially for food and beverage products.

Additionally, the rapid rise of online food delivery services has dramatically increased the demand for polythene packaging. Polyethylene has negative effects on the environment, but its use is expected to increase significantly due to its widespread use in many industries around the world.

Market dynamics

Growth engines

  • Increase in online sales

  • Increase in one-person households

  • Rise in demand for plastic bags and bags

  • Increase in demand for packaged food

  • Rapid urbanization

  • Increase in disposable income

  • Growing application of polyethylene in agriculture

Challenges

  • Crude Oil Price Fluctuation

  • Degrading impact on the environment

Market trends

  • Growth of cannabis cultivation (hemp and marijuana)

  • Growing demand for plastic films

Companies cited

  • LyondellBasell Industries

  • SABIC

  • Repsol Group

  • ExxonMobil Corporation

  • INEOS Group Holdings SA

  • MOL Group

  • The Dow Chemical Company

  • Borealis AG

  • Reliance Industries Limited

  • Braskem SA

  • LG Corporation (LG Chem Ltd.)

  • borouge

  • Formosa Plastics Corp.

  • Chevron Phillips Chemical Co.

  • Chinese Petrochemical Company (SINOPEC)

For more information about this report visit https://www.researchandmarkets.com/r/hsbad3