The new report by Expert Market Research titled, ‘Global High-Density Polyethylene (HDPE) Market Growth 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 applications, feedstocks, manufacturing processes, and major regions.
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.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 70.7 billion
- Forecast CAGR (2021-2026): 4%
- Forecast Market Size (2026): USD 89.5 billion
The global HDPE market is being driven by the increasing demand for packaging solutions. HDPE is being widely used in the manufacturing of films that are used to secure goods in warehouses. Moreover, food packaging will have a risen demand because of the need of extending the shelf life of edible products.
In addition to this, HDPE is being used in both types of packaging, flexible as well as rigid. Thus, the rapid growth of the global e-commerce industry is expected to enhance the demand for packaging materials, thus, contributing to the HDPE industry growth. Over the forecast period, the increasing demand for efficient piping solutions in construction industry is expected to further propel the market growth.
Industry Definition and Major Segments
High-Density Polyethylene is a thermoplastic polymer that is obtained through the monomer ethylene. It is also referred to as “polythene” or “alkathene”. HDPE is popular for its high strength-to-density ratio. It possesses high specific strength, is hard, decently opaque and can withstand high temperatures.
It can survive in many different solvents. All these properties cause HDPE to have application as a raw material in many industries like plastic bottles, pipes, ropes, disposable suits, chairs, toys, etc.
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On the basis of application, the market is divided into:
- Film and Sheet
- Injection Moulding
- Blow Moulding
- Pipe and Profile
- Wire and Cables
- Others
By feedstock, the industry can be segmented into:
- Naphtha
- Natural Gas
- Others
The different manufacturing processes of high-density polyethylene are:
- Gas Phase
- Slurry Process
- Solution Process
- Others
The major regional markets include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The rising awareness regarding the harmful effects of single-use plastics globally is expected to aid the high-density polyethylene industry growth in the forecast period. There has been a rise in efforts by various public and private organisations to spread awareness regarding the same, which is resulting in increased demand for thermoplastics that can be recycled.
Thermoplastics play a very important role in the functioning of numerous industries and are utilised to manufacture various products ranging from everyday essentials to packaging materials and film and sheet. Therefore, a suitable substitute to these plastics is required. And that role is being played by HDPE, which is renowned for its ease of recyclability. Thus, this is anticipated to be a key market driver for the HDPE industry.
Key Market Players
The major players in the market are INEOS Group, LyondellBasell Industries NV, Exxon Mobil Corporation, The Dow Chemical Company, Braskem SA, Formosa Plastics Corporation, and Reliance Industries Limited, among 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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