Cross Linked Polyethylene (XLPE) is a polyethylene thermoplastic resin reinforced using sulfur cross linking. It offers benefits such as high strength, durability, resistance to moisture and chemicals. XLPE finds wide ranging applications in gas pipes, oil pipes, coating and insulation.
The global Cross Linked Polyethylene Market is estimated to be valued at USD 7.6 billion in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Increasing demand from pipes and coating applications has been a key driver boosting the cross linked polyethylene market. XLPE pipes find applications in transporting oil, gas and water owing to their durability and resistance to corrosion. They have largely replaced aging cast iron and steel pipes. Usage of XLPE has also increased in protective coatings for tanks, pipelines and infrastructure as it acts as an effective barrier against moisture, chemicals and corrosion. The growth in oil & gas industry along with rising investments in pipeline network expansion have augmented the consumption of XLPE for pipes globally.
Strength: Cross linked polyethylene offers excellent resilience and durability. It provides good resistance to cracking and weathering.
Weakness: Production of cross linked polyethylene requires high energy and leads to high carbon footprint. It has low flexibility making installation process difficult.
Opportunity: Growing construction industry globally is driving the demand for durable piping materials like cross linked polyethylene. Development of green production technologies can reduce carbon footprint.
Threats: Availability of cheaper substitutes like PEX and PVC poses pricing pressure. Stringent environmental regulations can increase production costs.
The global cross linked polyethylene market is expected to witness steady growth. The global Cross Linked Polyethylene Market is estimated to be valued at USD 7.6 billion in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the global market and is expected to maintain its leading position over the forecast period driven by rapid growth of construction and infrastructure activities in China and India. North America is another major market supported by demand from oil & gas industries.
Key players operating in the cross linked polyethylene market are Dow Chemicals, ExxonMobil, Hanwha Chemical, Borealis, LyondellBasell Industries N.V., PolyOne Corporation. Dow Chemicals is a leading player with wide product portfolio and global presence. ExxonMobil also has strong market share through its brands such as Escorene.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it