The global polyethylene market demand is expected to witness high growth owing to increasing demand for packaged goods and changing lifestyles of the consumers. Additionally, easy availability and affordable PE prices are likely to aid market growth. However, increasing environment protection and health awareness among the consumers are anticipated to act as key restraining factors for the market. However, introduction and development of bio-based and bio-degradable polyethylene is likely to open new opportunities for market growth over the forecast period. In addition, manufacture of polyethylene from feedstock derived through unconventional sources such as coal, shale gas and bio-based materials will ensure raw material availability and sustainable resources. Development of new technologies and additives for polyethylene manufacture are expected to improve performance and open new market avenues for polyethylene t over the next six years.
PE can be segmented on the basis of various grades including ultra-low-molecular-weight polyethylene (ULMWPE), high-density cross-linked polyethylene (HDXLPE), ultra-high-molecular-weight polyethylene (UHMWPE), high-molecular-weight polyethylene (HMWPE), chlorinated polyethylene (CPE), cross-linked polyethylene (PEX), low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), very-low-density polyethylene (VLDPE) and medium-density polyethylene (MDPE) and high-density polyethylene (HDPE).PE is employed in various applications including packaging and toys, cable coverings, buckets, lids, containers bottle, films & membrane manufacture. Packaging accounted for the major share of the polyethylene market in 2013 and is expected to observe the fastest growth over the forecast period on account of high demand for packaged items by the consumers.
Asia Pacific accounted for major share of the polyethylene market in 2013, owing to the rapid industrialization and changing preferences of consumers in the region. Furthermore, Asia Pacific is expected to witness the fastest growth in the polyethylene market over the forecast period on account of rapid industrialization and trend of online purchase of goods amongst the consumers in emerging economies such as China and India. India is expected to witness high growth in the polyethylene market owing to the introduction & implementation of “Make in India” campaign which encourages foreign players to set up manufacturing facilities in India taking advantage of a large consumer base along with economical land and low labor rates.
polyethylene market is fragmented in nature with key players being The Dow Chemical Co., Lone Star Chemical, BASF, Chevron Phillips Chemical Co., Formosa Plastics, Huntsman, Ineos Olefins & Polymers, LyondellBasell, Reliance Industries and SABIC.
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In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.