ExxonMobil Expands Polyethylene Product Portfolio

Shanghai: ExxonMobil Chemical Co., a US based global petrochemical manufacturer, introduced a new polyethylene product, that is, Exceed XP at the Chinaplas trade show held in Shanghai. The new product offers improved performance for flexible packaging applications and provides enhanced level of protection for a broad range of products. The launch of Exceed XP polyethylene products would complement the polyethylene resins business of the company. The new product is targeted for consumers in China, which is the largest growth market for polyethylene market. Around 90% growth in the performance polyethylene business of the company arises from the developing economies. Furthermore, 50% of this growth is generated through the sales in China. As a result, China is an important market for polyethylene business.

TechSci Research depicts that the introduction of a new polyethylene product for application in China would generate augmented demand for PET resins. This strategic expansion is expected to prove beneficial for ExxonMobil Chemical Co as the company is involved in the production of polyethylene resins.

According to TechSci Research report, “China PET and PBT Resins Market Forecast and Opportunities, 2020”, the PET & PBT resins market in China is projected to surpass USD11.6 billion by 2020. China PET market continues to be dominated by PET packaging films and sheets, which is forecast to register robust growth through 2020. The remaining PET market in China includes PET bottles for food packaging and carbonated drinks, packaged drinking water, alcoholic and non-alcoholic beverages, edible oils, etc.