High Density Polyethylene Market size to exceed USD 88 bn by 2024
Published Date: August 19, 2019 Authors: Kiran Pulidindi, Hemant Pandey
High Density Polyethylene (HDPE) Market will cross USD 88 billion till 2024; according to a new research report by Global Market Insights, Inc.
HDPE is highly employed in the construction and the packaging industry. The excellent tensile strength and its ability to withstand high temperature makes it highly desirable mainly in the packing of beverages and cosmetics. The flourishing cosmetic and construction industry especially in the developing economies of Asia Pacific is anticipated to positively impact the overall high density polyethylene market size during the assessment period. For instance, According to National Investment Promotion & Facilitation Agency under the Government of India stated that the construction industry in India is expected to exhibit a CAGR of 15.7% to reach USD 738.5 billion by 2022. Moreover, the ongoing government policies such as “100 smart cities by 2020” shall further boost the market in the Asia Pacific region. Construction industry is one the major revenue generating end user for the global HDPE market. High density polyethylene are widely used in piper & guttering, window and door profiles, roofing, glazing, cement, sealants & adhesives, flooring and building panels among others.
HDPE are extensively used in the water industry in the form of pipe and fittings. High density polyethylene pipes extremely reliable in piping applications. Additionally, HDPE pipes are inexpensive option for many applications compared to metal or glass. It helps in water conservation through leaks elimination, reduction of maintenance costs and long-life expectancy. The growing infrastructural investment in the developing regions is anticipated to generate substantial revenue for HDPE pipe segment throughout the forecast period. For instance, favorable government policies such as “housing for all” and “smart city mission” especially in India shall further propel the market size. Indian held a market share of over 15% of the Asia Pacific HDPE market in 2015 and is projected to grow at a CAGR of 7%. Furthermore, the growing demand for HDPE pipe in the agricultural sector for flow line irrigation, suction/delivery pumps, water supplies, pesticide spraying system and drip irrigation shall further augment the market size.
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Browse key industry insights spread across 161 pages with 152 market data tables & 22 figures & charts from the report, “High Density Polyethylene (HDPE) Market Size By Form (Blow Molded, Pipe & Extruded, Film & Sheet, Injection Molded), By End-user (Agriculture, Building & Construction, Automotive, Packaging), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Among the various forms segments in the global high density polyethylene market, sheets and films is projected to exhibit the highest growth during the assessment period. This is attributed by the growing demand for films & sheets from the packaging of fragile consumer products and food items. Moreover, the rise in the package food & beverage demand across the globe will be eventually driving the films & sheets demand owing to their excellent mechanical properties. Sheets and films held a market share of over 20% in 2015.
Key manufacturers in the high density polyethylene market share are Chevron Phillips Co, Formosa Plastics Corp., Honam Petrochemical, The Dow Chemical Co, Borealis AG, Abu Dhabi Polymers Company, PetroChina Company, LyondellBasell NV, Exxon Mobil Corp and Braskem S.A. among others. The major players are adopting various strategies to expand their market share. For instance, PetroChina announced their plans to build three new high density polyethylene plants using LyondellBasell’s “Advanced Cascade Process”. This expansion is in line with their strategy to provide uninterrupted supply to the lucrative Asia Pacific HDPE market.
High Density Polyethylene (HDPE) research report covers an in-depth study of industry with market evaluations and forecast in volume (kilo tons) & revenue (USD million) terms from 2016 to 2024, considering below segments:
High Density Polyethylene Market, by Form
- Blow molded
- Pipe and extruded
- Film & sheet
- Injection molded
High Density Polyethylene Market, by End-User
- Building & Construction
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- South Africa
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