The Australia polyethylene resin market is expected to grow from US$ 1.20 billion in 2023 and is projected to reach US$ 1.57 billion by 2031. It is expected to register a CAGR of 3.4% from 2023 to 2031.
A strategic shift toward reducing reliance on imports and enhancing local production capabilities is expected to boost the demand for polyethylene resins. As manufacturing activities increase, the need for raw materials such as polyethylene resins also rises. This material is essential for producing a wide range of products, from packaging materials to automotive components. This surge in demand is likely to encourage investments in local production facilities, fostering innovation and efficiency within the industry. Moreover, the emphasis on domestic manufacturing aligns with broader economic policies to boost job creation and support local businesses.
By developing a robust polyethylene resin industry, Australia can meet its internal demand more effectively and position itself as a competitive player in the global market. This can lead to the expansion of export opportunities regarding polyethylene resins. In addition, local production reduces transportation costs and environmental impacts associated with importing resins, aligning with sustainability goals and enhancing the overall appeal of Australian-manufactured polyethylene products. Thus, the growing focus on domestic manufacturing in Australia is poised to create significant opportunities for the Australia polyethylene resin market during the forecast period.
The pharmaceutical sector in Australia significantly contributes to the increasing demand for polyethylene resins. Polyethylene's chemical resistance and durability are crucial for safely packaging medicines and medical devices. Major pharmaceutical manufacturers are investing in production facilities in the country. For instance, Noumed Pharma, an Australian generic drug manufacturer, established a US$ 65.3 million (100 million Australian dollars) production facility, which is expected to create 180 jobs when completed. With the ongoing advancements in healthcare and the rising consumption of pharmaceuticals, there is a growing requirement for high-quality, reliable packaging solutions, propelling the demand for polyethylene.
Moreover, in the personal care industry, polyethylene is used for packaging a variety of products, from cosmetics to hygiene items. The sector's growth, driven by increasing consumer awareness and demand for diverse personal care products, is also boosting the need for polyethylene packaging. The material's versatility allows for innovative and attractive packaging designs, which are essential in this highly competitive market. Thus, the growing demand for polyethylene resin from diverse sectors for packaging purposes drives the Australia polyethylene resin market.
A few key players operating in the Australia polyethylene resin market are Saudi Basic Industries Corp, Qenos Pty Ltd, Olympic Polymers Pty Ltd, Martogg & Company, Exxon Mobil Corp, LyondellBasell Industries NV, DuPont de Nemours Inc, Lanxess AG, Chevron Phillips Chemical Company LLC, and BASF SE. Players operating in the market are highly focused on developing high-quality and innovative product offerings to fulfill customers' requirements.
The overall Australia polyethylene resin market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants, such as valuation experts, research analysts, and key opinion leaders - specializing in the Australia polyethylene resin market.
A strategic shift toward reducing reliance on imports and enhancing local production capabilities is expected to boost the demand for polyethylene resins. As manufacturing activities increase, the need for raw materials such as polyethylene resins also rises. This material is essential for producing a wide range of products, from packaging materials to automotive components. This surge in demand is likely to encourage investments in local production facilities, fostering innovation and efficiency within the industry. Moreover, the emphasis on domestic manufacturing aligns with broader economic policies to boost job creation and support local businesses.
By developing a robust polyethylene resin industry, Australia can meet its internal demand more effectively and position itself as a competitive player in the global market. This can lead to the expansion of export opportunities regarding polyethylene resins. In addition, local production reduces transportation costs and environmental impacts associated with importing resins, aligning with sustainability goals and enhancing the overall appeal of Australian-manufactured polyethylene products. Thus, the growing focus on domestic manufacturing in Australia is poised to create significant opportunities for the Australia polyethylene resin market during the forecast period.
The pharmaceutical sector in Australia significantly contributes to the increasing demand for polyethylene resins. Polyethylene's chemical resistance and durability are crucial for safely packaging medicines and medical devices. Major pharmaceutical manufacturers are investing in production facilities in the country. For instance, Noumed Pharma, an Australian generic drug manufacturer, established a US$ 65.3 million (100 million Australian dollars) production facility, which is expected to create 180 jobs when completed. With the ongoing advancements in healthcare and the rising consumption of pharmaceuticals, there is a growing requirement for high-quality, reliable packaging solutions, propelling the demand for polyethylene.
Moreover, in the personal care industry, polyethylene is used for packaging a variety of products, from cosmetics to hygiene items. The sector's growth, driven by increasing consumer awareness and demand for diverse personal care products, is also boosting the need for polyethylene packaging. The material's versatility allows for innovative and attractive packaging designs, which are essential in this highly competitive market. Thus, the growing demand for polyethylene resin from diverse sectors for packaging purposes drives the Australia polyethylene resin market.
A few key players operating in the Australia polyethylene resin market are Saudi Basic Industries Corp, Qenos Pty Ltd, Olympic Polymers Pty Ltd, Martogg & Company, Exxon Mobil Corp, LyondellBasell Industries NV, DuPont de Nemours Inc, Lanxess AG, Chevron Phillips Chemical Company LLC, and BASF SE. Players operating in the market are highly focused on developing high-quality and innovative product offerings to fulfill customers' requirements.
The overall Australia polyethylene resin market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants, such as valuation experts, research analysts, and key opinion leaders - specializing in the Australia polyethylene resin market.
Reasons to Buy:
- Progressive industry trends in the Australia extruded polystyrene market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the Australia extruded polystyrene market from 2020 to 2030
- Estimation of the demand for extruded polystyrene across various industries
- Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and the demand for extruded polystyrene compounds across Australia
- Market trends and outlook coupled with factors driving and restraining the growth of the Australia extruded polystyrene market.
- Decision-making process by understanding strategies that underpin commercial interest concerning the Australia extruded polystyrene market growth
- The Australia extruded polystyrene market size at various nodes of market
- Detailed overview and segmentation of the Australia extruded polystyrene market as well as its dynamics in the industry
- The Australia extruded polystyrene market size in different regions with promising growth opportunities
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Australia Polyethylene Resin Market Landscape
5. Australia Polyethylene Resin Market - Key Market Dynamics
6. Australia Polyethylene Resin Market Analysis
7. Australia Polyethylene Resin Market Volume and Revenue Analysis - by Type
8. Australia Polyethylene Resin Market Revenue Analysis - by Process
9. Australia Polyethylene Resin Market Revenue Analysis - by Application
10. Competitive Landscape
11. Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- DuPont de Nemours Inc
- Redbak International
- Stile Board Pty Ltd
- Bewi ASA
- Foamex Group Pty Ltd
- Kingspan Group Plc
- Koolfoam Pty Ltd
- The Foam Co
- Owens Corning
- BASF SE
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 101 |
| Published | July 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value in 2023 | 1.2 Billion |
| Forecasted Market Value by 2031 | 1.57 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Australia |
| No. of Companies Mentioned | 10 |
