Polyethylene Market t Size, Share & Trends Analysis 2024

The global polyethylene market size is anticipated to reach USD 213.77 billion by 2030, growing at a CAGR of 5.0% during the forecast period, according to a new report by Grand View Research, Inc. The market growth is driven by the increasing consumption of plastics in the automotive, medical, construction, and electrical & electronics industries. Moreover, the increasing demand for lightweight materials in the automotive industry contributes to industry growth. Polyethylene (PE) is commonly used for manufacturing lightweight plastics, films, and foams used in vehicles.

The emphasis of the automotive industry on enhancing the fuel efficiency of vehicles by reducing their weight leads to the adoption of PE in this industry. As recycling technologies advance, the PE market adapts to integrate more recycled content into its products, contributing to a more circular and resource-efficient approach. Government policies and regulations supporting sustainable practices further bolster the demand for recycled PE. The circular economy encourages the collection, separation, and reprocessing of used PE products, diverting them from landfills.

Polyethylene Market Report Highlights

High-density Polyethylene (HDPE) dominated the product segment with more than 49.0% share in 2023. The demand for efficient and long-lasting solutions in water infrastructure and agriculture enhances the growth prospects of the HDPE segment
The Linear Low-density Polyethylene (LLDPE) type segment is expected to grow at the fastest CAGR of 5.5% over the forecast period
The bottles & containers application segment held a substantial market share in 2023. The sustainability trend in the packaging industry contributes to the growth of this segment
The use of recyclable materials is growing due to environmental concerns. The recyclability and compatibility of PE with recycling processes are essential for eco-conscious industries and consumers
Asia Pacific dominated the global market in 2023. The growing manufacturing industry in Asia Pacific is anticipated to drive the demand for PE
In October 2023, Borealis AG and TotalEnergies SE announced plans to construct a USD 1.4 billion Borstar PE unit within their Baystar joint venture. This PE unit, boasting a capacity of 625,000 metric tons annually, marks a significant increase, doubling the current production capabilities at the Baystar site including two existing PE production units

Browse through Grand View Research's Category Plastics, Polymers & Resins Industry Research Reports.

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Segments Covered in the Report

Grand View Research has segmented the global polyethylene market on the basis of product, application, end-use, and region:

PE Product Outlook (Volume, Kilotons, Revenue; USD Million, 2018 - 2030)