Increased application of PE based products in packaging, building and construction sectors to be the latest trend observed in the global PE resins market
HDPE Pipes are now being preferred over PVC pipes for supplying of fresh water to residential areas and farms. HDPE does not have any long term hazardous effects unlike PVC. Apart from fresh water supply application, HDPE plastic is also used for gas/compressed air system, hydro-transport systems, chemicals & edibles transport, and effluent & waste water disposal systems. The trend for over wrapping of palletized goods is also gaining traction, attributed to the ability of minimizing the pilferage of packed goods. Shipping and logistics industry is replacing polyester straps with LLDPE films due to their high efficiency, as it is more flexible and stretchable. Demand of LLDPE films is growing rapidly in export oriented countries such as U.S, Germany, France, Spain, Mexico and Italy. To gain competitive advantage and minimizing loss, packaging manufactures are focusing on increasing the shelf life of the packed products. The demand for LDPE films have significantly increased over the last decade owing to its high barrier properties and increasing trend for flexible packaging. Use of PE resins is also mushrooming with a view to meet the demand of PE polymer across various industries.
An insightful research report on global PE resins market skilfully devised by analysts has been added to the Future Market Insights research repository, which says that the global market is anticipated to show steady growth rate during the assessment period 2017-2027. The global PE resins market is poised to register a CAGR of 3.5% during this period to reflect a market evaluation of a little more than US$ 181 Bn by the end of 2027 from an estimation of around US$ 128 Bn in 2017. Few of the factors contributing to the growth of the PE resins market include rapidly changing consumer lifestyle, rising demand for PE resins in packaging sector and building cross border trade boosting the demand for LLDPE film resins. The global PE resins market is expected to have a largely positive outlook, over the forecast period, with emerging economies such as China and India projected to register high CAGRs over the next 10 years
Increasing demand for PE resins in the packaging sector is one of the main reasons for growth of the global market
The packaging sector is expected to showcase higher inclination towards the use of PE resins. This sector is highly lucrative for the growth of the global PE resins market. Packaging segment is anticipated to be the largest in terms of market share and is projected to grow at a significant CAGR during the period of forecast. The segment is estimated to reach a high valuation of above US$ 73 Bn by the end of the year of assessment (2027) from a value of around US$ 52 Bn in 2017.
Rigidity and flexibility to contribute to the growth of the global market
Rigid packaging and flexible packaging are two sub categories of the packaging segment. The rigid packaging sub segment is estimated to be the lead the market with a high market value. In 2017, this segment reflected a market value of around US$ 41 Bn and is likely to dominate the global market by the end of the assessment year. The flexible packaging sub segment is poised to register a higher CAGR throughout the period of forecast, thus contributing to the growth of the parent market.
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