A recent report published by Infinium Global Research on high density polyethylene market provides an in-depth analysis of segments and sub-segments in the global as well as regional high density polyethylene market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional high density polyethylene market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global high density polyethylene market. According to the report, the global high density polyethylene market is projected to grow at a CAGR of 3.90% over the forecast period of 2018-2024.
High-density polyethylene (HDPE) is a recyclable thermoplastic with a high strength to density ratio. It is a derivative of ethylene produced from catalytic cracking. HDPE is a widely used cost-effective polymer and often replaces heavier materials. It finds applications in the production of plastic bottles, corrosion-resistant piping, geomembranes, plastic lumber, toys, and chemical containers. They are characterized by greater toughness, stronger mechanical properties, higher service temperatures and create less impact on the environment.
The growing demand for eco-friendly plastics from the end user industries primarily drives the growth of the high-density polyethylene market. HDPEs are highly consumed by the packaging and construction industry. The growing demand for packaged food products across the globe due to the changing lifestyle is resulting in the growth of the HDPE market. They are used for packaging in the food and beverage industry. HDPE is used in manufacturing various food grade thin gauge carrier bags, fresh produce bags, and bottles and caps. Furthermore, the rapidly growing infrastructure in the emerging markets continues to be an added advantage for the growth of the HDPE market. HDPE is a durable piping material pipes and they are used for ground source geothermal applications, as they are tough, durable, lightweight and easy to transport. However, the fluctuation in raw material prices possesses a threat to the growth of high-density polyethylene market. Moreover, these high-density plastics are the most environmentally stable of all the plastics and are made from post-consumer products. They are recyclable and reduce plastic pollution. Recycling also increases the profitability of the manufacturers and creates beneficial opportunities for the growth of high-density polyethylene market.
Geographically, the Asia Pacific region accounts for the largest share in the high-density polyethylene market and is expected to continue its dominance over the forecast period. The growth of the food and beverage industries in Asian countries such as China and India contributes to the growth of the high-density polyethylene market in the Asia Pacific region. In addition, the rapidly growing infrastructure in this region also favors the growth of the high-density polyethylene market. North America holds the second largest market share owing to the consumption of packaged and processed foodstuffs that require proper packaging, which in turn drives the growth of high-density polyethylene market. In addition, the U.S. Food and Drug Administration have allowed the use of Post-Consumer Recycled HDPE in food packaging that is anticipated to promote the growth of the HDPE market.
The report on global high density polyethylene market covers segments such as product and end-user. On the basis of product, the sub-markets include films & sheets, pipe & conduit, blow molded, injection molded, and others. On the basis of end-user, the sub-markets include industry & machinery, building & construction, automotive, agriculture, electrical & electronics, packaging, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in this region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China.
The report provides profiles of the companies in the market such as Borealis AG, Chevron Phillips Chemical Company, Formosa Plastics Corporation, LyondellBasell Industries Holdings B.V., SABIC, Persian Gulf Petrochemical Industry Co., Braskem, INEOS, Exxon Mobil Corporation, and PetroChina Company Limited.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of high density polyethylene market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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