The Global High-density Polyethylene (HDPE) Market size was valued at USD 78 Billion in 2022 and is expected to surpass USD 113.93 Billion by 2031, expanding at a CAGR of 4.3% during the forecast period, 2023 – 2031. The growth of the market is attributed to rising packaging industry.
HDPE is a medium strength plastic with a crystalline structure. It is a robust, low-cost material with excellent processability and exhibits properties that make it perfect for packaging and manufacturing applications. It is more durable than normal polyethylene. HDPE has a strong moisture barrier and stays solid at room temperature. Furthermore, it's insect, rot, and chemical resistant.
HDPE does not generate harmful emissions throughout the manufacturing process or when it is used by end-users. It does not release any toxic chemicals into the land or water. The COVID-19 pandemic has had a huge impact in 2020 due to slowdown in the construction industry, which is one of the major end-user industries of HDPE.
Market Trends, Drivers, Restraints, and Opportunities
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Rising number of online food delivery platforms is driving the market growth.
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Growing demand from water irrigation systems in the agricultural industry is estimated to propel the market expansion.
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Increasing environmental problems due to the production and degradation of HDPE is expected to hamper the market growth during the forecast period.
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Expanding Internet penetration and the developing e-commerce sector are anticipated to provide lucrative opportunities for the high-density polyethylene (HDPE) market.
Scope of High-density Polyethylene (HDPE) Market Report
The report on the global high-density polyethylene (HDPE) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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High-density Polyethylene (HDPE) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Pipes & Tubes, Rigid Articles, Sheets & Films, and Others) and End-users (Packaging, Transportation, Electrical & Electronics, Building & Construction, Agriculture, Industry & Machinery, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Exxon Mobil Corporation; LyondellBasell Industries Holdings B.V.; Dow’ INEOS; and SABIC
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High-density Polyethylene (HDPE) Market Segment Insights
Pipes & tubes segment is expected to grow at a rapid pace
Based on applications, the market is divided into pipes & tubes, rigid articles, sheets & films, and others. The pipes & tubes segment is expected to grow at a rapid pace during the forecast period due to increasing utilization of HDPE pipes and tubes in various industry sectors, such as agriculture, cold water supply, sewage and manholes, marine, and mining, fire loops.
Moreover. HDPE pipe has several properties such as good strength, good internal, and water hammer pressure. It also provides enhance results in aggressive soils, low maintenance, and earthquake, lower installation costs and lightweight, impact resistance, and flexibility. However, the sheets & films segment is anticipated to hold a key share of the market in the coming years attributed to innovation and technological advancements.
Transportation segment is projected to expand at a considerable CAGR
On the basis of end-users, the market is segregated into packaging, transportation, electrical & electronics, building & construction, agriculture, industry & machinery, and others. The transportation segment is projected to expand at a considerable CAGR during the forecast period as HDPE products are non-corrosive in nature and it is convenient for transportation.
On the other hand, the packaging, segment is anticipated to account for a major market share during the forecast period owing to increasing Internet penetration and the developing e-commerce sector.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the global high-density polyethylene (HDPE) market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to rapid development of construction industry in China.
Moreover, the country has the world's prominent manufacturing economy, and as a result, the country’s packaging requirement is huge. However, the market in North America is anticipated to expand at a rapid pace during the forecast period owing to growth in use of HDPE in industrial sectors, including food packaging, cosmetics, and technical parts.
Segments
The global high-density polyethylene (HDPE) market has been segmented on the basis of
Applications
- Pipes & Tubes
- Rigid Articles
- Sheets & Films
- Others
End-users
- Packaging
- Transportation
- Electrical & Electronics
- Building & Construction
- Agriculture
- Industry & Machinery
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Exxon Mobil Corporation
- LyondellBasell Industries Holdings B.V.
- Dow
- INEOS
- SABIC
Competitive Landscape
The high-density polyethylene market is consolidated in nature. Key players competing in the global high-density polyethylene (HDPE) market are Exxon Mobil Corporation; LyondellBasell Industries Holdings B.V.; Dow’ INEOS; and SABIC
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