According to the latest report by IMARC Group, titled “High Density Polyethylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global high density polyethylene market size reached US$ 70.4 Billion in 2020. High-density polyethylene (HDPE) is a thermoplastic polymer with a high crystalline structure and tensile strength. It is durable, inexpensive, remains solid at room temperature, possesses excellent processability, and acts as a powerful barrier against moisture. It can be molded into a wide range of products when it reaches its melting point, including soda bottles, trash cans, toys, food storage containers, geomembranes, corrosion-resistant piping, traffic cones and plastic lumber. Besides this, HDPE does not generate harmful emissions during its manufacturing or utilization by the consumer.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global High Density Polyethylene Market Trends:
The rising utilization of HDPE in the packaging industry on account of low moisture absorption and chemical and corrosion resistance represents one of the primary factors strengthening the global market growth. This can also be accredited to rapid urbanization and the burgeoning e-commerce sector. Apart from this, there is a significant increase in the application of HDPE in the food and beverage (F&B) sector due to the rising on-the-go food consumption and the growing number of online food delivery platforms. Furthermore, HDPE pipes are used in the construction industry around the world for residential plumbing purposes. This, in confluence with the rising global population, is anticipated to fuel the market growth. Looking forward, the market value is projected to reach US$ 86.8 Billion by 2026, expanding at a CAGR of 3.5% during the forecast period (2021-2026).
- On the basis of the feedstock, the market has been classified into naphtha, natural gas and others.
- Based on the application, the market has been divided into blow molding, film and sheet, injection molding, pipe and extrusion, and others.
- Region-wise, the market has been segregated into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has been examined, with some of the key players being Chevron Phillips Chemical Company LLC, Dynalab Corp., The Dow Chemical Company, Exxon Mobil Corporation, LyondellBasell Industries N.V., INEOS AG, Saudi Basic Industries Corporation (SABIC), SINOPEC Beijing Yanshan Company, PetroChina Company Ltd., Braskem, Reliance Industries Ltd., Formosa Plastics Corporation, Daelim Industrial Co. Ltd., Prime Polymer Co. Ltd., and Mitsui Chemicals Inc.
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