According to the new market research report "PEX (Crossed-Linked Polyethylene) Market by Type (HDPE, LDPE), Technology (PEXA, PEXB, PEXC), Application (Wires & Cables, Plumbing, Automotive), Region (APAC, Europe, North America, South America, Middle East & Africa) - Global Forecast to 2024", published by MarketsandMarkets™, the PEX market is projected to grow from USD 6.1 billion in 2019 to USD 8.3 billion by 2024, at a CAGR of 6.0% during the forecast period. This growth is attributed to the growing demand in the automotive and power industries as well as expansion of the construction industry in the developing economies, globally.

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125 – Pages

The wires & cables application is expected to drive the PEX market.

The wires & cables application is expected to drive the demand for PEX. PEX exhibits high resistance to flame and heat deformation, which makes it suitable for wires & cables. The high demand from the wires & cables application is due to the increasing urbanization and rapidly rising building infrastructure and construction sectors. Urbanization and growing construction sector have impacted the energy and power demand in the residential, commercial, and industrial sectors. This has augmented investments in smart networks and upgrading of power transmission and distribution systems, which is driving the market. 

HDPE is the fastest-growing type segment of the PEX market.

HDPE is projected to be the fastest-growing type segment of the PEX market. Most of the cross-linked pipes manufactured globally are made from cross-linked HDPE owing to its superior properties such as high tensile strength and resistance to cracks and deformation that occurs due to external factors such as temperature, stress/strain, and climatic changes. It is also easier to install. Unlike the traditional systems that use copper for piping and tubing, cross-linked HDPE does not corrode and maintains its flexural strength. HDPE is used in the packaging of milk jugs, detergent bottles, margarine tubs, and others. HDPE is also used in fireworks. 

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APAC is projected to be the largest and fastest-growing PEX market.

APAC is estimated to be the largest and fastest-growing PEX market. This growth is attributed to the rapidly growing economy, growth opportunities available in the market, increasing urbanization, and rapidly growing building infrastructure. Moreover, the growing consumption of plastic pipes due to natural gas production and residential & non-residential building construction expenditures in the leading countries of APAC, such as Japan, Australia, and China, are estimated to increase the demand for PEX. Moreover, steady improvements in construction spending in emerging countries such as India and Indonesia and improved investments in industrial and public infrastructure are the key factors responsible for market growth. 

The Dow Chemical Company (US), Borealis AG (Austria), Solvay (Belgium), LyondellBasell (Netherlands), ExxonMobil Corporation (US), PolyOne Corporation (US), 3H Vinacom Co., Ltd. (Vietnam), Falcone Specialities AG (Switzerland), Hanwha Chemical Corporation (South Korea), and HDC Hyundai EP (South Korea) are the leading players operating in the PEX (Crossed-Linked Polyethylene) Market.

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