Global High-Density Polyethylene (HDPE) Market to Grow at a CAGR of 4% During 2024-2032, Aided by the Increasing Demand for Packaging Solutions

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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Market Analysis by Application, Feedstock, Manufacturing Process, and Region:

• The market on the basis of application can be divided into film and sheet, injection moulding, blow moulding, pipe and profile, wire and cables, and others. 
• Based on feedstock, the industry can be divided into naphtha, natural gas, and others. 
• By manufacturing process, the market is divided into gas phase, slurry process, solution process, and others. 
• The regional markets for high-density polyethylene (HDPE) include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The thin-film and food packaging applications of HDPE is aiding the market growth.
• The increasing awareness against single-use plastics is expected to drive the growth of the market.
• The rapid growth of the e-commerce industry is anticipated to cause a surge in demand for packaging raw materials, thus, enhancing the demand for HDPE.
• The booming construction industry is expected to exponentially increase the demand for HDPE pipes.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for high-density polyethylene (HDPE)  for the periods (2018-2023) and (2024-2032). 
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the applications, feedstocks, manufacturing processes, and regions of high-density polyethylene (HDPE). 
• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models. 

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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