High-Density Polyethylene (HDPE) Market

1. High-Density Polyethylene (HDPE) Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2021-2027

2. Global Online Food Delivery Market - Industry Trends & Forecast Report 2028 A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the GlobalHigh-Density Polyethylene (HDPE) Market was 54.7 million tons in 2021 and is projected to reach 78.0 million tons by the year 2028, growing at a CAGR of 5.6% over the analysis period of 2022-2028. The expansion in the high-density polyethylene (HDPE) market can be primarily attributed to the large array of properties exhibited by HDPE that expands its employability across several sectors. It is strong, possesses excellent processability, is resistant to chemical corrosion and is inexpensive. To be precise, it is the ideal material for manufacturing and packaging operations. These factors are driving the growth of the global high-density polyethylene market during the forecast period 2022-2028. 

3. Growth Drivers  Large-Scale Application Across Various Sectors to Propel High-Density Polyethylene (HDPE) Market Growth The high-density polyethylene finds wide-ranging applications across numerous industries due to its chemical and corrosion resistance coupled with low moisture absorption. For instance- HDPE finds extensive usage in the packaging industry across the world. Moreover, advancing sales of smart devices, increasing internet penetration, rapid urbanization, and the flourishing e-commerce sector are playing a major part in the ever-increasing demand for HDPE. Furthermore, there has been a rise in the employment of HDPE in the food and beverage sector since the production of various products such as bottle caps, takeaway bags, and food storage containers.

4. Restraints  Instability in Crude oil prices Impeding the High-Density Polyethylene (HDPE) Market Growth The volatility in prices of crude oil is projected to hinder the High-Density Polyethylene (HDPE) (PTA) market in the close future. This is due to the fact that the major raw material used in the production of HDPE is ethylene which is a petrochemical feedstock. So, the instability in the price of crude oil directly affects ethylene prices. Furthermore, the International Agency for Research on Cancer has declared HDPE as carcinogenic due to it’s potential to induce lung cancer on inhalation. Moreover, the enactment of rigorous government regulations owing to ecological concerns may act as a prominent challenging factor to the market growth during the forecast period 2022-2028.

5. Impact of COVID-19 The High-Density Polyethylene (HDPE) market was negatively impacted due to COVID-19 in 2020 in different ways. The transportation limitations implemented across the world in response to the pandemic resulted in the disruption of the supply chain of major raw materials required for High-Density Polyethylene (HDPE) production. The construction industry which is one of the most significant end-user industries of high-density polyethylene suffered impediments due to contractual obligations, health and safety measures, resource availability as well as project delays or cancellations due to the global pandemic. Similarly, the packaging, as well as the textiles industry, also faced the negatives as a result of the declining demand due to the global health crisis. All this, in turn, has severely affected the market growth rate of the global high-density polyethylene market.

6. Regional Insights In terms of the regional analysis, the global High-Density Polyethylene (HDPE) (PTA) market can be segmented into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America. Amidst the segmentation, the Asia Pacific region is expected to dominate the High-Density Polyethylene (HDPE) market during the forecast period on account of the remarkable performance exhibited in the sector by co8untries like China and India. China, the largest economy in the Asia-Pacific region is registering high economic growth. The development of road and rail infrastructure by the Chinese government has propelled the growth of the country’s construction industry. The construction sector, being the major deployer of the HDPE has led to the significant growth of the market in the region.

7. Competitive Landscape The global High-Density Polyethylene (HDPE) market is characterized by the presence of many local, regional, and global vendors. The key players operating in the global High-Density Polyethylene (HDPE) market are Chevron Phillips Chemical Company, 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. and other prominent players. 

8. Recent Development December 2021: Atkore Inc. declared the acquisition of the assets of Four Star Industries, which is a manufacturer of ½” – 6” High Density Polyethylene (HDPE) conduit. The Four Star Industries primarily serves the telecommunications, infrastructure, utility and datacom markets. The acquisition was done to expand Atkore’s product portfolio and enable Atkore to serve the growing markets like broadband and renewable energy. In October 2020: SABIC embarked on a pilot project with Schwarz Group, Europe’s largest retail store operator, for the use of transparent film bags made from certified circular polyethylene (PE) in vegetable packaging. SABIC’s TRUCIRCLE certified circular polymers in the pilot project include high-density polyethylene (HDPE) and few other resins.

9. Key Players The key players operating in the global High-Density Polyethylene (HDPE) market are Chevron Phillips Chemical Company, 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. and other prominent playersSample Copy: https://www.blueweaveconsulting.com/report/high-density-polyethylene-hdpe-market/report-sample

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