The PEX market size is projected to grow from USD 6.1 billion in 2019 to USD 8.3 billion by 2024, at a CAGR 6.0%. The growing construction sector, increasing R&D activities initiated by major players, easy availability of raw materials, and increasing development strategies to meet the demand for PEX in the established and emerging applications are driving the market. Moreover, increased investment by the government to produce green and clean energy by the installation of solar power plants and windmill-powered plants is expected to drive the demand for wires & cables, which, in turn, is likely to drive the PEX market. The global economic growth, increasing standard of living, growth opportunities available in the market, increasing urbanization, and rapidly growing building infrastructure are also boosting the demand for PEX, globally.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=257558278
Based on type, the PEX market is segmented into HDPE, LDPE, and others. Almost all PEX used for pipe and tubing is made from high-density polyethylene (HDPE). HDPE accounts for the largest share of the market and is also the fastest-growing market during the forecast period. Cross-linked HDPE is used in pipes and tubing in the plumbing segment. The excellent combination of properties makes HDPE an ideal material for diverse applications in various industries. Cross-linked HDPE helps in solving plumbing problems at an economical price. 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.
Based on technology, the PEX market is segmented into PEXa, PEXb, and PEXc. PEXa is estimated to be the largest and fastest-growing application of PEX during the forecast period. PEXa is produced using peroxide crosslinking technology. Peroxide crosslinking offers outstanding heat stability, better hot tear, and decent life stability. The rising building & construction industry in the developing economies is leading to an increase in the use of PEXa technology for cable insulation and pipe applications. PEXa is the most commonly used technology in the APAC region. Peroxide cross-linking provides excellent heat stability, better hot tear, and good life stability. The growing building & construction industry in the emerging economies of the APAC region is leading to an increase in the use of PEXa technology for cable insulation and pipe applications.
Request for Sample Reort: https://www.marketsandmarkets.com/requestsampleNew.asp?id=257558278
Based on application, the PEX market is segmented into wires & cables, plumbing, automotive, and others. Automotive is the fastest-growing application of PEX. Cross-linked LDPE is extensively used in automotive cables and wires. With the declining market share of PVC, there is a higher scope for the usage of alternative materials such as PEX for insulation in automotive wires and cables. PEX is used extensively in wires, automotive battery cables, wire and cable coating layer, motors, and other high-voltage resistance materials. Low production cost and easy availability at comparatively low prices are also responsible for the high consumption of PEX in the automotive application.
The PEX market in APAC is projected to register the highest CAGR between 2019 and 2024. The region is also the fastest-growing market for PEX. Stable improvements in construction spending in developing countries such as India and Indonesia and increased investments in industrial and public infrastructure are the key factors responsible for market growth. In addition, the need for extremely consistent and corrosion-resistant quality pipes for residential as well as industrial purposes has further positively impacted the PEX market in this region. China is the largest PEX market in APAC. Rising infrastructural development due to increased population and industrialization is also a key driver for the PEX market in China. North America is also a prominent region for the growing market of PEX. New product launch, strategic expansion, and agreement are adopted by various market players to cater to the growing demand in this region.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Sanjay Gupta
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States