Global Polyethylene Market to Continue Growth Pattern
The global polyethylene industry experienced strong growth over the last five years and is expected to continue advancing as it reaches approximately $148.1 billion in 2017 with a compound annual growth rate (CAGR) of 3.5% over next five years. Strategies such as new product innovation, processes, and feedstock technologies are expected to help players capture market share.
Lucintel, a global management consulting and market research firm, recently published “Global Polyethylene Industry 2012-2017: Trend, Profit, and Forecast Analysis.” According to the report, the Asia-Pacific region dominates the polyethylene market and represents 41.8% of the global market. A combination of factors such as feedstock price (crude oil and naphtha), feedstock availability, lightweight properties, energy costs, environmental issues, and government regulations are significantly affecting the industry dynamics.