High-Density Polyethylene Industry 2022 Opportunities, Sale Area, Revenue Analysis Forecast To 2030

High-Density Polyethylene Industry

The global high-density polyethylene market stood at USD 45,849.4 Mn in 2017 and is anticipated to grow exponentially. Market Research Future (MRFR) has thoroughly studied the trends and patterns in the global high-density polyethylene (HDPE)market over the forecast period of 2018–2023. As per MRFR’s analysis, by value, the market is estimated to capture a CAGR of 5.91% over the forecast period. By volume, the market is likely to strike a CAGR of 4.21% over the forecast period.

High-density polyethylene finds applications across an array of end use cases and largely follows the global economic activities. They are mostly used in plastics owing to their versatile nature and advantages such as ease of processing and recycling. High density polyethylene sourced from shale gas, coal and the emergence of bio-based materials is likely to pave the way for future market expansion. Green initiatives which majorly support the use of environmentally friendly materials has been key to the market growth. Expansion of spending capabilities has resulted in increased demand for food & beverages, which, in turn, is likely to propel the demand for high-density polyethylene market for packaging purposes. Additionally, the market experiences heightened demand from other industries such as healthcare, personal care products, home care, and e-commerce industries. Properties such as high chemical resistance, flexibility, durability, low density, and others make them ideally suited for application in the construction industry. Heightened constructional activities across the globe is likely to inflate the demand for high density polyethylene. High density polyethylene is suited for automotive applications which require durability, and weather resistance and is inducing additional demand within the market. Other factors substantiating the growth of the market include continuous advancement in processing and polymerization catalyst technology of high-density polyethylene. On the other hand, plastics are being increasingly banned due to environmental concerns which is among major applications of high-density polyethylene.

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