[125 Pages Report] 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
6.0%. The PEX market is majorly driven by the automotive and construction
industries in APAC, mainly in India, China, Japan, South Korea, and the
Southeast Asian countries.
The Dow Chemical Company (US) is one of the leading players in
the PEX market, which provides PEX for wires & cables application. The
company operates in 12 business segments, namely, coating and performance
materials, consumer solutions, crop protection, electronics and imaging,
hydrocarbons and energy, industrial solutions, packaging and specialty
plastics, polyurethanes, safety and construction, seed, transportation and
advanced polymers, and others. It operates its PEX business through the
packaging and specialty plastics segment. This company is a major player
operating in the PEX market, which caters mainly to the wires & cables
sector. The company has its customer presence in around 180 countries,
globally. In June 2017, it established a new ELITE enhanced polyethylene
production facility in Texas (US). The production facility has a capacity of
400,000 metric tons of polyethylene.
PEX is a type of polyethylene that consists of numerous
cross-links resulting in the formation of a three-dimensional network of high
molecular weight compound. The molecular bonds that result in cross-linking
improve many properties of polyethylene such as heat deformation, abrasion,
chemical, and stress crack resistance. Therefore, PEX, with its superior
properties as compared to copper or CPVC, is gaining market share in the
plumbing as well as in the wires & cables application. The use of PEX in
manufacturing automobile parts and battery cables in the transmission and power
distribution channels is driving the global PEX market in the automotive application.
Moreover, the solar industry is expected to be a major factor in driving the
PEX market in the future, with producers continuously looking to replace the
conventional materials.
The key players in the PEX market are The Dow Chemical Company
(US), Borealis AG (Austria), Solvay (Belgium), LyondellBasell (Netherlands),
ExxonMobil Corporation (US), PolyOne Corporation (US), 3H Vinacom Co., Ltd.
(Vietnam), Falcone Specialities AG (Switzerland), Hanwha Chemical Corporation
(South Korea), and HDC Hyundai EP (South Korea). The PEX market report analyzes
the key growth strategies adopted by the leading market players, between 2014
and 2018, which include expansions, mergers & acquisitions, joint ventures,
and new product launches.
The Dow Chemical Company (US) is one of the leading players in
the PEX market, which provides PEX for wires & cables application. The
company operates in 12 business segments, namely, coating and performance
materials, consumer solutions, crop protection, electronics and imaging,
hydrocarbons and energy, industrial solutions, packaging and specialty
plastics, polyurethanes, safety and construction, seed, transportation and
advanced polymers, and others. It operates its PEX business through the
packaging and specialty plastics segment. This company is a major player
operating in the PEX market, which caters mainly to the wires & cables
sector. The company has its customer presence in around 180 countries,
globally. In June 2017, it established a new ELITE enhanced polyethylene
production facility in Texas (US). The production facility has a capacity of
400,000 metric tons of polyethylene.
Borealis AG (Austria) is among the key players in the PEX
market and offers PEX products for the automotive and wires & cables
industries. The company is actively engaged in R&D and expansion activities
for its different business segments. The company operates in two segments,
namely, polyolefins and base chemicals. It operates its PEX business through
the polyolefins segment. The company provides polyolefins for applications in
the energy, automotive, consumer products, and pipe industries. The International Petroleum Investment Company
(IPIC) of Abu Dhabi owns 64% shares of the company, with the remaining 36%
belonging to OMV Aktiengesellschaft (Austria), an international integrated oil
& gas wcompany in Vienna. The company provides services and products to
customers, globally in collaboration with Borouge, a joint venture with Abu
Dhabi National Oil Company (ADNOC). Borealis AG and NOVA Chemicals Corporation
(Canada) also signed a preliminary agreement on March 2017, to form a joint
venture with Total Petrochemicals and Refining USA, Inc. that will develop and
own a new light feed cracker and a new polyethylene (PE) facility in Bayport,
Texas. It has a strong geographical presence around 120 countries.
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.
Drivers & Opportunities
- 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
- Increasing Demand for Cross-Linked HDPE
Don't miss out on business opportunities in PEX
(Crossed-Linked Polyethylene) Market.
Speak to Our Analyst and gain crucial industry insights that
will help your business grow.
About MarketsandMarkets
MarketsandMarkets
is the largest market research firm worldwide in terms of annually published
premium market research reports. Serving 1700 global fortune enterprises with
more than 1200 premium studies in a year, M&M is catering to a multitude of
clients across 8 different industrial verticals. We specialize in consulting
assignments and business research across high growth markets, cutting edge
technologies and newer applications.
Contact:
Mr. Shelly Singh
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com
Comments
Post a Comment