This market research report segments the global crosslinked polyethylene market into the following applications (plumbing, electric cables, and auto parts), products (linear low-density crosslinked polyethylene, low-density crosslinked polyethylene, and high-density crosslinked polyethylene), technologies (peroxide method, cure method, and electron beam process), and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the low cost of crosslinked polyethylene as a key factor contributing to the growth of the global crosslinked polyethylene market:
Low cost of crosslinked polyethylene
Along with being heat and chemical-resistant, crosslinked polyethylene is very strong. This makes it the best choice for substituting the currently used products such as PVC, copper tubes, and plastic insulations. In terms of long term cost, crosslinked polyethylene costs less than any other polymer. The useful life of the product is considered to calculate the overall cost of a crosslinked polyethylene product. In case of a plumbing system, the cost of installation will be high. The overall cost of the product will also include transportation and labor costs. Hence, if the product has a long life, then the overall cost will automatically reduce. The cost of crosslinked polyethylene material is nearly 20% less than copper or steel, which are used for making pipes.
According to a senior analyst at Technavio for plastics, polymers, and elastomers, “Installation of copper pipes require several connections which increases the cost of installation. There will be a need for connecting two or more pipes together, if the required length of the pipe is less, it will also increase the number of connections. In case of plumbing, crosslinked polyethylene pipes can be of any length which reduces the number of connecting parts required while using crosslinked polyethylene. While using crosslinked polyethylene for plumbing, there is no need for installation fixtures.”
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Global crosslinked polyethylene market segmentation
Of the three major applications, the plumbing segment held the largest market share in 2017, accounting for nearly 48% of the market. The market share for this application is expected to increase by 2022. The fastest growing application is auto parts, which will account for nearly 20% of the total market share by 2022.
APAC was the leading region for the global crosslinked polyethylene market in 2017, accounting for a market share of nearly 49%. By 2022, APAC is expected to witness a decline in market share, whereas the Americas and EMEA will register a positive growth.
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