According to estimates, the market for PE resins will be worth USD 152.3 billion in 2022 and is anticipated to grow to USD 181.5 billion by 2027 at a CAGR of 3.6%. According to the PE resins market description, 3.4% growth year-over-year (YoY) is predicted for the market’s volume in 2021–2022. The Asia Pacific region is estimated to dominate the PE resins market, accounting for a sizeable market share of around 41% in 2022.
The researcher predicts that the Indian PE resins market will grow by 5.4% on a yearly basis in 2021–2022. Total PE resin sales in the Asia Pacific region are anticipated to reach USD 61.7 billion in 2022.
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The research report covers analysis of various market segments across key regions in the globe, such as North America, Eastern Europe, Latin America, Western Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The in-depth market segmentation coupled with historical data and future market projections from value and volume perspectives for a period of 10 years delivers a comprehensive research approach that the reader can use to establish a global footprint.
How will the Rise in Demand for PE Resins in Asia Pacific Supplement the Global Market Growth?
High concentration of resin manufacturers in Asia Pacific has made the market more competitive and is another factor boosting the expansion of polyethylene resin market in the region. On the back drop of physical properties such as high moisture, abrasion resistance the demand for different grades of PE polymer is expected to increase over the forecast period.
According to United Nations, APAC is home to 60% of world’s youth due to which this region is one of the key contributors to growth of the global consumer electronics industry, as millennial generation is more inclined to purchase latest developed technologies and remain up to date with trends.
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Global Market Study on PE Resins: Competitive Analysis
The research report on the global PE resins market covers an in-depth analysis on the key players operating in the market. These include companies such as
- Exxon Mobil Corp.,
- E.I. du Pont de Nemours & Co.,
- LyondellBasell Industries NV,
- LG Chem Ltd.,
- Formosa Plastics Corporation,
- The Dow Chemical Company,
- Braskem S.A,
- Saudi Arabia Basic Industries Corporation,
- Ineos Group Limited,
- LANXESS Corporation,
- Chevron Phillips Chemical Co. LLC,
- Saudi International Petrochemical Company – Sipchem, Borouge,
- Versalis S.p.A.,
- NOVA Chemicals Corporation and
- BASF SE.
The market intelligence on these players covers aspects such as SWOT analysis, product portfolio analysis, key developments, innovations, geographical spread, marketing strategies, pricing analysis and other key financials.
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Global Market Study on PE Resins: Segmental Snapshot
The global PE resins market is segmented on the basis of resin type, end use and region.
- By resin type, HDPE is largely used in various applications. The HDPE segment is the largest and is expected to dominate the market in the coming years with a high market valuation of around US$ 82 Mn by the end of the year of assessment. The LLDPE segment also shows high potential for growth and is the second largest segment with the highest value CAGR throughout the period of forecast.
- By end use, packaging segment is the most attractive and is expected to lead the market with a high market share. The consumer goods segment is projected to grow at a high value CAGR of 4.0% during the forecast period, 2022-2027.
- By region, Asia Pacific excluding Japan is the most lucrative owing to the presence of major players in the emerging economies in this region. The PE resins market in APEJ is projected to grow at the highest CAGR of 5.0% during the said period to attain a higher market valuation by the end of the year of assessment (2027).
PE Resins Market by Category
By Resin Type:
- HDPE
- LDPE
- LLDPE
By End-Use:
- Packaging
- Flexible Packaging
- Rigid Packaging
- Consumer Goods
- Automotive & Transport
- Building & Construction
- Textiles
- Agriculture & Horticulture
- Electricals & Electronics
By Region:
- North America
- Asia Pacific
- Western Europe
- Eastern Europe
- Latin America
- Middle East and Africa (MEA)
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