DUBLIN--(BUSINESS WIRE)--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.
- Superior Properties Compared to Conventional Materials
- Growing Demand from the Automotive Industry
- Growing Demand in the Packaging Industry
- Growing Need for Plastic Pipes in the Solar Industry
- Degradation from Sunlight & Perforation by Insects
- Safety Issues & Chances of Plumbing Failure
- Increasing Demand for Cross-Linked HDPE
- Replacement of PEX by Polypropylene Pipes
- Fluctuation in Raw Material Prices
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 PEX Market, By Type
7 PEX Market, By Technology
8 PEX Market, By Application
9 PEX Market, By Region
10 Competitive Landscape
11 Company Profiles
- 3H Vinacom Co. Ltd.
- Borealis AG
- Charloma Inc.
- Exxonmobil Corporation
- Falcone Specialities AG
- Hanwha Chemical Corporation
- HDC Hyundai EP
- Hibco Plastics Inc.
- Janco Inc.
- Kkalpana Group
- Polylink Polymers (India) Ltd.
- Polyone Corporation
- Saco AEI Polymers
- Sankhla Polymers Pvt. Ltd.
- Silon S.R.O
- The Dow Chemical Company
- Zhejiang Wanma Macromolecule Material Co. Ltd.
- Zimmer Inc.
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