[125 Pages Report] The 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%. The PEX market is majorly driven by the automotive and construction industries in APAC, mainly in India, China, Japan, South Korea, and the Southeast Asian countries.

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HDPE is estimated to lead the PEX market, by type during the forecast period.

HDPE is the major type of PEX, and almost all PEX used for pipe and tubing is made from HDPE. The excellent combination of properties makes HDPE an ideal material for diverse applications in various industries. It is also easier to install. Unlike the traditional systems that use copper for piping and tubing, cross-linked HDPE does not corrode and maintains its flexural strength. The increasing demand for these products due to the high growth in the construction industry and improved investments in the industrial and public infrastructure in the developing regions of APAC, Europe, North America, South America, and the Middle East & Africa are expected to drive the demand for PEX.

PEXa is estimated to be the largest technology of PEX.

The PEXa technology segment is estimated to lead the PEX market in 2019. It is the most commonly used technology for the production of PEX as it offers the highest and the most uniform degree of cross-linking. PEXa has many advantages such as increased resistance to stress cracking, good weatherability, improved chemical resistance, and excellent degradation stability. These properties are important for cable insulation and pipe applications, thereby, driving the demand for PEXa technology.

Wires & cables is estimated to be the largest application of PEX.

The wires & cables application is estimated to lead the PEX market during the forecast period. PEX is widely used as electrical insulation in power cables of all voltage ranges, though it is more suited for low and medium voltage applications. This is expected to drive the PEX market in the wires & cables application. PEX is the most common polymeric insulation material, which is resistant to weather, heat, and moisture. It provides better protection to copper wires to transfer energy safely and efficiently. Hence, the increasing demand for wires & cables from these applications is expected to drive the PEX market during the forecast period.

APAC is projected to be the largest and fastest-growing PEX market.

APAC (comprising China, Japan, India, South Korea, Australia, and Rest of APAC) is estimated to be the largest and fastest-growing PEX market during the forecast period. The region’s rapid industrialization and expanding transmission & distribution lines in the electrical & communication industry drive the demand for PEX-based wires & cables. Extensive use of XLPE wires in automotive battery cables, wire & cable coating layer, motors, and other high-voltage resistance materials in APAC is also driving the PEX market. Moreover, the growing residential and non-residential infrastructures in this region are leading to the construction of pipelines and tubing, which is boosting the PEX market in the plumbing application as well.

Key Market Players

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) are the key players operating in the PEX market.

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