Cross-Linked Polyethylene Market Grows the Fastest in the APAC Region

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.

Automotive will be the fastest-growing category, with a rate of 8%, in the years to come. This is as a result of the growing use of this polymer in numerous automobile mechanisms and parts for its sturdiness, elasticity, electrical insulation, and high resistance to rust and extreme temperatures. 

Additional key factor powering the requirement for this polymer amongst automotive OEMs is that it improves the life of automobiles as a result of its mechanical strength.

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.