Metallocene Polyethylene (mPE) Market Worth 6.98 Billion USD by 2023
PUNE, India, April 2, 2018 /PRNewswire/ --
The report "Metallocene Polyethylene (mPE) Market by Application (Films, Sheets, Injection Molding, Extrusion Coating), Type (mLLDPE, mHDPE), and Region (APAC, North America, Europe, Middle East, South America) - Global Forecast to 2023" published by MarketsandMarkets™, the Metallocene Polyethylene (mPE) market is estimated at USD 4.99 Billion in 2018 and is projected to reach USD 6.98 Billion by 2023, at a CAGR of 6.9% between 2018 and 2023 This market has been segmented on the basis of application, type, and region. The availability of plastic products at affordable rates and rise in demand for packaging materials have contributed to the increased consumption of mPE products in various applications.
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Browse 115 market data Tables and 48 Figures spread through 161 Pages and in-depth TOC on "Metallocene Polyethylene (mPE) Market"
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The films application segment is projected to lead the mPE market during the forecast period.
Based on application, the mPE market has been segmented into films, sheets, injection molding, extrusion coating, and others (heavy duty sacks and wires & cables). The films application segment is estimated to account for the largest share of the mPE market in 2018, in terms of volume. mPE films are used in various end-use industries, such as food & beverage packaging, automotive, and building & construction.
Properties of mPE films include good rigidity-to-thickness ratio, improved toughness, high moisture and chemical resistance, and excellent moisture barrier properties. The unique properties of mPE films, coupled with their widespread applicability, have contributed to the growth of the films segment of the mPE market.
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The mLLDPE segment is expected to be the largest type segment of the mPE market.
Based on type, the mLLDPE segment is projected to lead the mPE market from 2018 to 2023. mPE resins have high tensile strength and are used in various industrial products, such as custom marine parts, water tanks, and chemical storage containers as well as consumer products, such as food packaging materials, heavy-duty sacks, and stretch films.
Asia Pacific is expected to be the fastest-growing regional segment of the mPE market.
The mPE market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The growth of the mPE market in this region can be attributed to the increasing demand for mPE resins from various end-use industries, such as packaging, solar energy, and automotive. Asia Pacific is a key consumer of mPE resins, followed by North America and Europe. The expansion of the plastics industry and increase in demand for packaging materials, especially from China, India, South Korea, and Malaysia have contributed to the growth of the mPE market in the Asia Pacific region.
Leading players operating in the Metallocene Polyethylene (mPE) Market include Sasol (South Africa), Braskem (Brazil), Reliance (India), Mitsui (Japan), ExxonMobil (US), Dow Chemical, LyondellBasell (Netherlands), SABIC (Saudi Arabia), Borealis (Austria), Formosa (Taiwan), INEOS (UK), Westlake (US), and NOVA Chemicals (Canada).
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