Unveiling the World of Polyethylene Procurement Intelligence 2024-2030
Polyethylene procurement is rising due to its usage in industries such as packaging, construction, and consumer goods. The polyethylene (PE) market is anticipated to grow at a CAGR of 4.1% from 2024 to 2030. According to I.C.I.S’ 2024 report, the global demand for PE increased by 140% from 1992 to 2023. This was an increase of 2.8 million tons on average each year for the same period. The demand for the commodity is mainly driven by its consumption in the packaging of food, beverages, and consumer goods. This is due to its properties, such as durability, easy customization, and moisture resistance. The G20 countries accounted for 78% of global PE demand in 2023. Changing consumer preferences is boosting the demand for on-the-go and secure food packaging globally. Procurement of bio-based PE is gaining traction with rising focus on sustainable packaging to reduce environmental impact. Bio-based PE is produced from renewable raw materials such as sugarcane and can be recycled. Companies...