What is the Global market size of the High-Density Polyethylene Market?

Global High-Density Polyethylene Market size was valued at USD 72.22 billion in 2021 and is poised to grow from USD 75.43 billion in 2022 to USD 111.15 billion by 2030, growing at a CAGR of 4.45% in the forecast period (2023-2030).

What is the key market trend for the Global High-Density Polyethylene Market?

Demand for lightweight automobiles: The high-density polyethylene market largely witnessed an increased demand for lightweight automobiles as a result of policy updates and reforms in automotive industry. As a result, increased usage of lightweight materials for safety and fuel economy is likely to benefit the sector throughout the projection period. High-density polyethylene pipe has numerous features, including high strength, high internal pressure to handle external loads, water resistance, and resistance to water hammer pressure. It also provides enhanced performance in tough soils, as well as decreased maintenance and operating expenses.

High-Density Polyethylene Market Size, Share, Growth Analysis, By Feedstock(Naphtha, natural gas, others), By Manufacturing(Gas phase, slurry process, solution process, others), By Application(Blow molding, injection molding, pipes, tubes), By End-user(Packaging, transportation, electrical, electronics), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global High-Density Polyethylene Market?

Global High-Density Polyethylene Market Players are expected to strengthen their position by offering various high-density polyethylene solutions. The major producers of high-density polyethylene resins are located in Europe. The demand is high in Asia Pacific leading to a fragmented market. The producers in North America and Europe are continuously engaging in mergers & acquisitions in order to strengthen their market positions and to drive the business growth. As a result, the key players in the market have developed strong regional presence, distribution channels, and product offerings. 'LyondellBasell Industries Holdings B.V.', 'ExxonMobil Corporation', 'Dow Chemical Company', 'SABIC', 'Ineos Group AG', 'Chevron Phillips Chemical Company LLC', 'Borealis AG', 'Braskem S.A.', 'Reliance Industries Limited', 'Formosa Plastics Corporation', 'Total S.A.', 'Mitsui Chemicals, Inc.', 'Westlake Chemical Corporation', 'Nova Chemicals Corporation', 'Lotte Chemical Corporation', 'Sinopec Limited', 'Basell Polyolefine GmbH', 'Thai Polyethylene Co., Ltd.', 'China National Chemical Corporation', 'Haldia Petrochemicals Limited'

Report ID: SQMIG15E2452 | Region: Global | Published Date: February, 2024
Pages: 211 | Tables: 130 | Figures: 77

High-Density Polyethylene Market News

Since 2022, Salada has undertaken several initiatives to reduce carbon footprint as the company recently joined the Recycles Partners of Jamaica (RPJ) network of businesses which collects plastic bottles made from polyethylene terephthalate (PET) and high-density polyethylene (HDPE), both of which are derived from petroleum and whose appeal for manufacturers lies in the fact that they can easily be shaped into bottles and containers for packaging foods and beverages, personal-care products, and many other consumer products.
Gujarat based Payal Irrigation Pvt Ltd constructed India's largest plant for the manufacturing of agricultural and irrigation plastic products in 2022.

High-Density Polyethylene Market Report Snapshots

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Increased demand for beverages and food will drive up demand for blow-molded bottles, which will drive up demand for HDPE. Volatile crude oil raw material costs are expected to have a negative influence on HDPE pricing, limiting market growth over the projection period.

High-Density Polyethylene Market Players are expected to strengthen their position by offering various high-density polyethylene solutions. The major producers of high-density polyethylene resins are located in Europe. The demand is high in Asia Pacific leading to a fragmented market. The producers in North America and Europe are continuously engaging in mergers & acquisitions in order to strengthen their market positions and to drive the business growth. As a result, the key players in the market have developed strong regional presence, distribution channels, and product offerings. 'LyondellBasell Industries Holdings B.V.', 'ExxonMobil Corporation', 'Dow Chemical Company', 'SABIC', 'Ineos Group AG', 'Chevron Phillips Chemical Company LLC', 'Borealis AG', 'Braskem S.A.', 'Reliance Industries Limited', 'Formosa Plastics Corporation', 'Total S.A.', 'Mitsui Chemicals, Inc.', 'Westlake Chemical Corporation', 'Nova Chemicals Corporation', 'Lotte Chemical Corporation', 'Sinopec Limited', 'Basell Polyolefine GmbH', 'Thai Polyethylene Co., Ltd.', 'China National Chemical Corporation', 'Haldia Petrochemicals Limited'

The rising demand for high-density polyethylene resin for packaging fuels growth, as these resins are widely employed in both rigid and flexible packaging. As the HDPE recycling ecosystem grows, prohibition on single-use plastics could benefit producers. This is projected to rise more if limitations are implemented. Handbags, packaging, rubbish bags, and industrial linings are among the applications for high-density polyethylene sheets and films. HDPE resin is also used to make hard packaging solutions, such as boxes, packing containers, and tanks. Increased online shopping, internet, and food delivery service usage, particularly in emerging nations has resulted in an exponential growth in demand for packaging raw materials, with high density polyethylene being one of the most prominent.

Asia Pacific was the largest market for high-density polyethylene owing to the presence of a large packaging sector in this region. According to Construction Perspectives and Oxford Economics the volume of construction is expected to increase by 85% in future. Increment in government spending on infrastructure development in emerging countries including India and China is also expected to boost market growth in the forecast period, estimated to contribute around 57% to the total market value.

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What is the market size of High-Density Polyethylene Market?

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