PEX (Crossed-Linked Polyethylene) Market

Dow Chemical Company (US) and Borealis AG (Austria) are the Leading Players in the PEX (Crossed-Linked Polyethylene) Market

The global PEX market size is estimated at USD 6.1 billion in 2019 and is projected to reach USD 8.3 billion by 2024, at a CAGR of 6.0% between 2019 and 2024. PEX is a type of polyethylene that consists of numerous cross-links resulting in the formation of a three-dimensional network of high molecular weight compound. The molecular bonds that result in cross-linking improve many properties of polyethylene such as heat deformation, abrasion, chemical, and stress crack resistance. Therefore, PEX, with its superior properties as compared to copper or CPVC, is gaining market share in the plumbing as well as in the wires & cables application. The use of PEX in manufacturing automobile parts and battery cables in the transmission and power distribution channels is driving the global PEX market in the automotive application. Moreover, the solar industry is expected to be a major factor in driving the PEX market in the future, with producers continuously looking to replace the conventional materials.

The key players in the PEX market are 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). The PEX market report analyzes the key growth strategies adopted by the leading market players, between 2014 and 2018, which include expansions, mergers & acquisitions, joint ventures, and new product launches.

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The Dow Chemical Company (US) is one of the leading players in the PEX market, which provides PEX for wires & cables application. The company operates in 12 business segments, namely, coating and performance materials, consumer solutions, crop protection, electronics and imaging, hydrocarbons and energy, industrial solutions, packaging and specialty plastics, polyurethanes, safety and construction, seed, transportation and advanced polymers, and others. It operates its PEX business through the packaging and specialty plastics segment. This company is a major player operating in the PEX market, which caters mainly to the wires & cables sector. The company has its customer presence in around 180 countries, globally. In June 2017, it established a new ELITE enhanced polyethylene production facility in Texas (US). The production facility has a capacity of 400,000 metric tons of polyethylene.

Borealis AG (Austria) is among the key players in the PEX market and offers PEX products for the automotive and wires & cables industries. The company is actively engaged in R&D and expansion activities for its different business segments. The company operates in two segments, namely, polyolefins and base chemicals. It operates its PEX business through the polyolefins segment. The company provides polyolefins for applications in the energy, automotive, consumer products, and pipe industries.  The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% shares of the company, with the remaining 36% belonging to OMV Aktiengesellschaft (Austria), an international integrated oil & gas wcompany in Vienna. The company provides services and products to customers, globally in collaboration with Borouge, a joint venture with Abu Dhabi National Oil Company (ADNOC). Borealis AG and NOVA Chemicals Corporation (Canada) also signed a preliminary agreement on March 2017, to form a joint venture with Total Petrochemicals and Refining USA, Inc. that will develop and own a new light feed cracker and a new polyethylene (PE) facility in Bayport, Texas. It has a strong geographical presence around 120 countries.

Related Reports:

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

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Report Code
CH 4904
RI Published ON
6/12/2019
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