The global high-performance polyethylene market was pegged at $1.1 billion in 2020, and is expected to reach $2.6 billion by 2030, growing at CAGR of 9.1% from 2021 to 2030.
Rise in demand for electric & electronic and textile products and increase need for food and agrochemicals across the globe drive the growth of the global high-performance polyethylene market. However, health issues related to long-term use of high-performance polyethylene and emergence of eco-friendly agriculture products hinder the market growth. On the contrary, developments in electrical and construction technology are expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The advent of the Covid-19 pandemic positively affected the demand for high-performance polyethylene for a short period. The surged demand for PPE and other disposable plastics also favored the market.
- The concern over the unparalleled use of single-use plastics during the pandemic significantly increased. This favored the demand for high-performance polyethylene.
The report segments the global high-performance polyethylene market on the basis of analysis application, end-user industry, and region.
On the basis of application, the protective coating segment dominated the market in 2020, contributing to around one-third of the market. However, the sports equipment segment is projected to manifest the highest CAGR of 10.6% during the forecast period.
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Based on end-user industry, the food & beverages segment held the largest share in 2020, accounting for more than one-fourth of the market. However, the textile industry segment is estimated to register the highest CAGR of 11.1% during the forecast period.
The global high-performance polyethylene market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the lion’s share in 2020, accounting for nearly one-third of the market. Moreover, the Asia-Pacific region is expected to portray the highest CAGR of 10.5% from 2021 to 2030.
The global high-performance polyethylene market includes an in-depth analysis of the prime market players such as TEIJIN LIMITED, Dow Chemical Company, DSM, Celanese, LyondellBasell, Braskem, Asahi Kasei Corporation, Sabic, Mitsui Chemicals, Inc., and Artek, Inc.
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