Dallas, Texas, Sept. 18, 2020 (GLOBE NEWSWIRE) -- The “Cross-linked Polyethylene (PEX) Market by Type (HDPE, LDPE, Others), Technology (PEXa, PEXb, PEXc), Application (Wires & Cables, Plumbing, Automotive, Others), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa), Global Forecast, 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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The global cross-linked polyethylene (PEX) market size is projected to reach nearly USD 10.0 billion by 2028. Additionally, it is projected to rise at a CAGR of above 7.7% over the forecast years 2018-2028. One of the major end-user industries of the cross-linked polyethylene is the construction industry. PEX tubing is a good option for radiant floor heating in houses. This heating method varies from conventional heating possibilities by heating the floors and all items in its environment. The radiant heating offers a space with a more uniform, constant electricity. Moreover, to this, tubing and piping of cross-linked polyethylene (XLPE) are commonly utilized in plumbing procedures, replacing copper and galvanized steel, and PVC pipe, owing to rusting, expense and circulation. The product gets higher growth because of its versatility during construction, and lower cost than copper.
The report on the global cross-linked polyethylene (PEX) industry outlines various aspects of the market by using PEST and value chain analysis. Moreover, the cross-linked polyethylene (PEX) market report comprises various qualitative parts of the cross-linked polyethylene (PEX) industry in market restraints, drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
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The cross-linked polyethylene (PEX) market has solid competition amongst the already well-known and new market players. Also, the cross-linked polyethylene (PEX) industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
The high-density polyethylene (HDPE) segment led the industry in 2019 due to its thermosetting nature, strong mechanical strength, and improved tolerance to stress fracture. Also, the cross-linked HDPE gains traction over raw HDPE. Also, cross-linked HDPE can be economically developed, and thus finds broad application in domestic and industrial plumbing facilities. These, in effect, drive the development of the global cross-connected polyethylene industry, a phenomenon projected to continue over the coming years.
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Plumbing was the largest application segment on the global cross-connected polyethylene market in 2019 and is expected to maintain its dominance over the forecast period. Conventionally used plumbing products like copper and PVC do not work well at elevated temperatures even when heavily chlorinated water is transferred for lengthy periods. It is a crucial and extremely profitable development field for cross-linked polyethylene producers for expansion in the industry. The specific industry participants concentrate on R&D initiatives to install cross-linked polyethylene (PEX) pipes for chlorinated water source and radiant heating applications.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years. Additionally, increased government spending to generate renewable and clean energy by the construction of solar power plants and windmill power plants is expected to boost demand for wires & cables, which eventually drives the PEX market. Furthermore, growth in the construction sector, increased expenditure in industrial and public infrastructure, gas pipeline production, water delivery, and rapid urbanization-fuelled sewage systems are key factors driving the market in the country over the forecast period. However, the North American region held a moderate growth rate in 2019 and it is projected to remain dominant during the forecast years 2018-2028.
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The major players of the global cross-linked polyethylene (PEX) market are The Dow Chemical Company (US), Borealis AG (Austria), Solvay (Belgium), Lyondellbasell (Netherlands), ExxonMobil Corporation. Moreover, the other prospective players in the cross-linked polyethylene (PEX) market are Polyone Corporation (US), 3H Vinacome Co., Ltd. (Vietnam), Falcone Specialities AG. The cross-linked polyethylene (PEX) market comprises well established local as well as global players. Moreover, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Cross-linked Polyethylene (PEX) Market by Type
Chapter 6 Cross-linked Polyethylene (PEX) Market by Technology
Chapter 7 Cross-linked Polyethylene (PEX) Market by Application
Chapter 8 Cross-linked Polyethylene (PEX) Market By Region
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
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