The revenue of the cross-linked polyethylene market generated USD 7,544.8 million by 2023, which will power at a compound annual growth rate of 7.7% by the end of this decade, touching a value of USD 12,587.5 million by 2030.
The use of this material is quickly growing in the automotive sector, for wires and cables; and the construction sector, in pipes and wiring. The main reason behind the use of this polymer in the automotive industry for cables and wiring systems is that it offers electrical insulation and sturdiness.
Wires & cables dominated the industry. In telecom, copper and fiber-optic cables support worldwide connectivity, enabling data, voice, and video transmission. In aerospace, lightweight, and high-performance cables have an important role to play in navigation, communication, and powering aircraft.
Furthermore, in healthcare, cables are put to use for connecting diagnostic equipment and patient monitoring systems, to allow accurate diagnoses and care.
With regards to volume and value, the largest type in the market is HDPE. It is an all-rounder material for plumbing uses as a result of its, high tensile strength, high density, firmness, strong resistance to chemicals, and aptitude to endure higher temperatures than LDPE. Therefore, tubing and pipes made of HDPE have expanded significance in the construction and industrial sectors.
It is because of the rapidly growing use in automotive sector, and the rising requirement for products made of XLPE in solar PV sector, the demand for cross-linked polyethylene is on the rise. This trend will also continue in the future, all over the globe.