by Cross-linked polyethylene (XLPE) cable systems find widespread usage in medium to high voltage power transmission & distribution networks owing to their excellent electrical insulation and mechanical properties. These cables help in reducing transmission losses while safely carrying higher loads over long distances. Rising investments in commercial & residential construction activities are fueling the adoption of XLPE cables as reliable underground wiring solutions. Additionally, infrastructure development projects in rail, road, and telecommunication sectors offer considerable growth prospects.
The global Cross Linked Polyethylene Market is estimated to be valued at US$ 5,720.74 million in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased construction of smart cities and urbanization are some of the major factors propelling the demand for cross linked polyethylene cables. Globally, there is massive ongoing construction of smart cities equipped with advanced connectivity infrastructure. This involves extensive deployment of power transmission and telecom networks requiring large volume of XLPE cables. Furthermore, rapid urbanization in developing economies is translating to new residential and commercial building projects. Well-established underground cabling system is essential to ensure uninterrupted power and telecom services to such urban conglomerations. The abovementioned ongoing construction activities will continue to drive the consumption of cross linked polyethylene in cable jacketing and insulation applications over the forecast period.
Segment Analysis
The global cross linked polyethylene market is dominated by the plumbing segment, which accounts for over 30% of the market share. The pipes used for plumbing are expected to have a long lifespan of over 50 years with cross linked polyethylene material. It has very high reliability against soil organisms, root penetration, and chemicals. It also has excellent burst pressure capabilities making it suitable for both hot and cold water supply.
Key Takeaways
The Global Cross Linked Polyethylene Market Size is estimated to be valued at US$ 5,720.74 million in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
Regional analysis: The Asia Pacific region currently dominates the global market due to high construction activities in countries such as China and India. Growing infrastructure and rising disposable incomes are increasing the demand for piping solutions in the region. The region is expected to continue its dominance over the forecast period.
Key players: Key players operating in the cross linked polyethylene market are ExxonMobil Chemical Company, LyondellBasell Industries, 3H Vinacom Co., Hanwha Chemicals, Arkema Group, AkzoNobel N.V., Falcone Specialities AG, Borealis AG, and PolyOne Corporation. ExxonMobil Chemical Company and LyondellBasell Industries have the largest market share due to their widespread product portfolio and geographical presence across major markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
