Press Release
Press Release
The global high-density polyethylene (HDPE) industry is being driven by the rising demand for high-performance polymers in several industry verticals. The chemical and physical properties of HDPE make it suitable to be used in various industries such as packaging, automotive, construction, agriculture, and others. The booming construction industry is expected to drive the global market owing to HDPE’s extensive use in pipes, boxes, and telephone ducts. Moreover, the rising demand for HDPE in packing industry is also expected to propel the overall market. Furthermore, the rising awareness regarding the use of recyclable materials is expected to cause a surge in the demand for HDPE owing to its ease of recycling.
The growing focus of the leading players on research and development activities and increasing their output capacities is expected to aid the industry globally. For instance, in July 2019, Reliance Industries Limited successfully achieved design capacity in its new polyethylene plant by putting to use the UNIPOL PE Process from Univation Technologies, a global leader in licensed polyethylene technology. This plant can produce several different polyethylene items, including HDPE. This move will allow RIL to exponentially increase its HDPE output capacity and enhance its global footprint. Further, in May 2020, LyondellBasell Industries N.V. (NYSE: LYB) announced to grant Hostalen ‘Advanced Cascade Process’ (Hostalen ACP) licenses to Sinopec Hainan Refining & Chemical Co., Ltd. for its new HDPE facility in China, which is expected to have a production capacity of 300,000 metric tons per year. Such developments are expected to have a positive influence on the market growth over the forecast period.
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The major players in the global high-density polyethylene (HDPE) 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 comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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