Global High Density polyethylene Market was valued US$ 63.5 Bn in 2017 and is expected to reach US$ 87.5Â Bn by 2026 at CAGR of about 4.32 % during forecast period.
High-density polyethylene (HDPE) is a thermoplastic polymer produced from the monomer ethylene made from natural gas, naphtha, gas oil.
HDPE is a highly versatile type of plastic, it is more opaque, harder, and can withstand higher temperatures. HDPE finds use in numerous applications and Industries where strong impact resistance, excellent tensile strength, low moisture absorption, and chemical and corrosion resistance characteristics are required.
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The HDPE market is segmented on the basis of industry application as caps & closures, geomembranes, tapes, cross-linked polyethylene, and sheets and others. HDPE is expected to show high demand in its respective applications.
It has also gained popularity across the packaging industry as it is increasingly being used for the production of various products like bottle caps, food storage containers, bags, etc. due to the Low odor and excellent chemical resistance make HDPE films ideal for usage in food packaging.
HDPE accounts for the second-largest share of the plastic pipe demand and is expected to witness the strongest gains in demand during the forecast period.
Recycling the HDPE containers not only keeps non-biodegradable waste out of our landfills but also saves energy. HDPE recycling can save up to twice as much energy that is used in the creation of virgin plastics. The demand for HDPE recycling is expected to increase due to the rising recycling rate of plastics in various developed countries such as the UK, the US, and Germany.
Asia Pacific was the largest market for HDPE in 2017 owing to the presence of large packaging sector in this region. In addition, increasing government spending on infrastructure development in emerging countries including India and China is also expected to boost HDPE market growth over the forecast period.
The report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and key issues in the market.
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Scope of Global High Density Polyethylene Market:
Global High Density Polyethylene Market, by End User
Building and construction
Global High Density Polyethylene Market, by Application
Film and sheet
Pipe and extrusion
Global High Density Polyethylene Market, by Region
Middle East & Africa
Key Players analyzed in Global High Density Polyethylene Market:
Asahi Kasei Corp.
Chevron Phillips Chemical Co.
Dow Chemical Co.
Exxon Mobil Corp.
Formosa Plastics Corp.
Lyondell Basell industries
Abu Dhabi Polymers Company Ltd.
PetroChina Company Limited
Honam Petrochemical Corporation.