“Growth of the PEX market is mainly driven by the growing automotive industry and the growing need for plastic pipes in the solar industry”
The market size of PEX was USD 5.5 billion in 2020 and is projected to reach USD 7.9 billion by 2025, at a CAGR of 7.7%. The growth of the PEX market is mainly driven by the growing automotive industry and the growing need for plastic pipes in the solar industry.
The PEX market is driven by its usage in demanding and dynamic applications in the power industry as well. PEX has also become a preferred option for use in the water plumbing application because of its flexibility. Moreover, installing PEX is much less labor-intensive than the traditional pipes since fewer connections and fittings are needed in a PEX installation. There are a large number of regional players competing for the regional market share, which is contributing to the competitive rivalry among major players.
“HDPE segment is estimated to dominate the overall PEX (Crossed-Linked Polyethylene) market
HDPE is expected to be the largest type of PEX (Crossed-Linked Polyethylene)used globally in terms of both value and volume. Cross-linked HDPE is used in pipes and tubing in the plumbing segment. The excellent combination of properties makes HDPE an ideal material for diverse applications in various industries. HDPE pipe is extensively used in numerous applications such as the construction of pipelines for transportation of water and gases as it offers quick installation, flexibility, and are lightweight and low cost. HDPE pipes are also frequently used for the transfer of liquids in the agriculture sector. Their properties make them suitable for use in the construction and industrial sectors.
“Wires & Cables is the largest market for PEX (Crossed-Linked Polyethylene) by application”
Wires & cables is the largest application of PEX. PEX exhibits high resistance to flame and heat deformation, which makes it suitable for wires & cables. Cross-linking adds brilliant dielectric properties to polyethylene, which is resilient to flow and permanent deformation above the softening point. Expanding transmission & distribution lines in the electrical & communication industry in developing countries is driving the market. Automotive is the fastest-growing application of PEX, as cross-linked LDPE is extensively used in automotive cables and wires.
“APAC is projected to be the largest PEX (Crossed-Linked Polyethylene)market”
The PEX (Crossed-Linked Polyethylene) market in APAC is projected to register the highest CAGR between 2020 and 2025. APAC leads the global PEX market in terms of value and volume The increasing demand for PEX in the plumbing, wires & cables, and automotive applications in China, Japan, and Australia is driving the market in APAC. Moreover, increased investment by the government to produce green and clean energy by the installation of solar power plants and windmill-powered plants is expected to drive the demand for wires & cables, which eventually drives the PEX market in the region.
Extensive primary interviews were conducted in the process of determining and verifying sizes of different types, end-user of the PEX (Crossed-Linked Polyethylene) market gathered through secondary research.
The breakdown of primary interviews is given below:
- By Company Type: Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%
- By Designation: C-Level Executives – 21%, Director-Level – 23%, and Others – 56%
- By Region: North America – 30%, Europe – 18%, APAC – 41%, South America – 6%, and the Middle East & Africa – 5%
The Dow Chemical Company (US), Borealis AG (Austria), Solvay (Belgium), Lyondellbasell (Netherlands), Exxonmobil Corporation (US), Polyone Corporation (US), 3H Vinacome Co., Ltd. (Vssssietname), Falcone Specialities AG (Switzerland), Hanwha Chemical Corporation (South Korea), Hyundai EP (South Korea).
The PEX (Crossed-Linked Polyethylene) market has been segmented based on type, technology, application, and region. This report covers the PEX (Crossed-Linked Polyethylene) market and forecasts its market size until 2025. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the PEX (Crossed-Linked Polyethylene) market. The report also provides insights into the drivers and restraints in the PEX (Crossed-Linked Polyethylene) market along with opportunities and challenges. The report also includes profiles of top manufacturers in the PEX (Crossed-Linked Polyethylene) market.
Reasons To Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
- This report segments the PEX (Crossed-Linked Polyethylene) market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
- This report is expected to help stakeholders understand the pulse of the PEX (Crossed-Linked Polyethylene) market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
- This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the PEX (Crossed-Linked Polyethylene) market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as merger & acquisition, new product developments, expansions, and collaborations.