by The Cross Linked Polyethylene (CLPE) Market is estimated to be valued at US$ 5,323.1 Mn in 2022 and is expected to exhibit a CAGR of 7.47% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cross linked polyethylene (CLPE) is a form of polyethylene in which the molecular chains of the polymer are cross-linked using radiation, peroxides, or silanes. It is used in applications requiring excellent environmental stress crack resistance such as high-pressure pipes, cable insulation, hydraulic hose, and gas distribution pipes. Cross linked polyethylene offers advantages such as high tensile and impact strength, chemical resistance, swell ratio and softening point over linear polyethylene.
Market key trends:
Cross Linked Polyethylene Demand finds its major application in HVAC systems due to its ability to withstand higher operating temperatures and pressures. It is widely used in piping, tubing and sheet applications for HVAC systems due to properties like chemical and UV resistance, superior stress crack resistance and longevity under high pressure and temperature conditions. According to a recent study, the HVAC system market is expected to grow at a CAGR of 5.6% from 2022 to 2028 owing to rising construction activities and increasing demand for energy-efficient climate control systems especially in developing countries. Growing HVAC market thus translates to increased demand for cross linked polyethylene which is driving the overall CLPE market growth over the forecast period.
Market Dynamics:
Growing adoption of XLPE in pipes and fittings manufacturing across industries like oil & gas, chemicals and water supply is a major factor expected to propel growth of the market over the forecast period. XLPE enhances performance and durability of pipes. It offers crack and damage resistance and can withstand extreme temperatures. Moreover, increasing usage of XLPE in electrical and electronics industry for insulation coating in wires and cables is also boosting market growth. XLPE is highly preferred for insulation owing to its resistance to heat, chemicals and moisture, and ability to retain those properties over the lifespan of the product. Rising investments in upgrading and expansion of transmission and distribution infrastructure will further augment the market growth over the next few years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
