Global High-Density Polyethylene (HDPE) Market to be Driven by the Rising Thin Film Applications of
Author : Global Lee | Published On : 30 Apr 2021
The new report by Expert Market Research titled, ‘Global High-Density Polyethylene (HDPE) Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global high-density polyethylene (HDPE) market, assessing the market based on its segments like application, feedstock, manufacturing process, and North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): 70.7 Billion
- Forecast CAGR (2021-2025):4.0%
- Forecast Market Size (2026): 89.5 Billion
High-density polyethylene is commonly used in the manufacture of films that are used in warehouse to cover products. The thin-film applications of HDPE are expected to increase exponentially in the future, given the ever-increasing demand for packaging films. Owing to the growing emphasis on extending the shelf life of edible goods, food packaging applications would see an increase in demand. In all types of packaging, HDPE, both flexible and rigid, is commonly used. In addition, it is expected that growing understanding of single-use plastics would further build up an already omnipresent HDPE ecosystem and, in turn, benefit producers and manufacturers. With the rise in e commerce industry due to the convenient shopping platform it provides, the demand for packaging raw material has also increased, of which HDPE is majorly used.
Industry Definition and Major Segments
High-density polyethylene refers to a thermoplastic polymer obtained from the monomer ethylene, also abbreviated as HDPE. For its high strength-to-density ratio, HDPE is renowned. It has high specific strength, is tough, very opaque, and is able to withstand high temperatures. Several distinct solvents can endure it. All these characteristics allow HDPE resin to be used in many industries as a raw material, including plastic bottles, pipes, ropes, disposable suits, chairs, toys, and others.
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By application, the market is segmented as:
Based on feedstock, the industry can be divided into:
- Natural Gas
As per the manufacturing process, the market is divided into:
- Gas Phase
- Slurry Process
- Solution Process
The regional markets for the product comprise of North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The rising construction activities and rapid urbanisation across the globe are driving the global demand for high-density polyethylene. The global amount of construction is projected to increase by 85 percent by 2030, according to Global Construction Perspectives and Oxford Economics. This growth will be driven, in particular, by countries such as India, the United States and China, which are expected to contribute about 57% of the overall market value. In contrast to China, the US building industry is projected to grow at an even higher pace. It is expected that the booming construction industry will increase the demand for HDPE pipes exponentially. Plastic pipes are consistently being replaced by steel or other conventional concrete material pipes because of their lower cost and better performance which in turn is aiding the industrial growth.
Key Market Players
The major players in the market are INEOS Group, LyondellBasell Industries NV, Exxon Mobil Corporation, The Dow Chemical Company, Formosa Plastics Corporation, Reliance Industries Limited, Braskem SA and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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