The revenue of the cross-linked polyethylene market generated USD 7,544.8 million by 2023, which will power at a compound annual growth rate of 7.7% by the end of this decade, touching a value of USD 12,587.5 million by 2030.
The use of this material is quickly growing in the automotive sector, for wires and cables; and the construction sector, in pipes and wiring. The main reason behind the use of this polymer in the automotive industry for cables and wiring systems is that it offers electrical insulation and sturdiness.
Automotive will be the fastest-growing category, with a rate of 8%, in the years to come. This is as a result of the growing use of this polymer in numerous automobile mechanisms and parts for its sturdiness, elasticity, electrical insulation, and high resistance to rust and extreme temperatures.
Additional key factor powering the requirement for this polymer amongst automotive OEMs is that it improves the life of automobiles as a result of its mechanical strength.
Wires & cables dominated the industry. In telecom, copper and fiber-optic cables support worldwide connectivity, enabling data, voice, and video transmission. In aerospace, lightweight, and high-performance cables have an important role to play in navigation, communication, and powering aircraft.
Furthermore, in healthcare, cables are put to use for connecting diagnostic equipment and patient monitoring systems, to allow accurate diagnoses and care.
With regards to volume and value, the largest type in the market is HDPE. It is an all-rounder material for plumbing uses as a result of its, high tensile strength, high density, firmness, strong resistance to chemicals, and aptitude to endure higher temperatures than LDPE. Therefore, tubing and pipes made of HDPE have expanded significance in the construction and industrial sectors.
APAC cross-linked polyethylene market is growing the fastest, with regards to both value and volume, and showcase the fastest rate in the future. XLPE’s requirement has been growing in the region in diverse applications, for example plumbing, wires & cables, and automotive.
China, India and Japan are the key nations in the region with regards to the consumption of this polymer. The ongoing expansion of the construction sector, growing rate of urbanization, booming population, easy availability of raw material, increasing R&D in key industries, and players of the industry’ implementation of strategies to fulfill the requirement for this material powers the industry.
