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High Density Polyethylene Market to witness steady growth over 2019 – 2024; Borealis AG, The Dow Chemical Company, PetroChina Company Limited are leading players

Author : Rahul Varpe | Published Date : 2019-04-11 

Global Market Insights provides a detailed overview of High Density Polyethylene market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of High Density Polyethylene market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The packaging industry has experienced a drastic change over the past few years. The increased demand for packaged goods has escalated the demand for high density polyethylene (HDPE). With the increased disposable income of the people, consumption of products such as packaged foods, personal care products, pharmaceuticals, etc. has considerably increased over the past few years. This will lead to an escalating demand for the product.

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Ethylene is used in the production of HDPE, which is a petroleum-based product. The oscillating price of raw material such as crude oil will adversely affect the product market. High density polyethylene market is projected to reach over USD 80 billion by 2024 according to this new research report.

The key companies present in the High Density Polyethylene Market are:

  • Honam Petrochemical Corporation
  • Borealis AG
  • The Dow Chemical Company
  • PetroChina Company Limited
  • Abu Dhabi Polymers Company Ltd.
  • Formosa Plastics Corp.
  • LyondellBasell industries NV
  • Exxon Mobil Corp.
  • Braskem S.A.
  • Chevron Phillips Chemical Co.

The product market in Asia Pacific is expected to register high sales by 2024, owing to the increased consumption of the product in consumer goods. Development in countries like China and India will fuel the market growth. The trend of rigid packaging of consumer goods will propel the product market in North America and Europe.

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The construction segment has been growing rapidly due to the growth in global infrastructure sector. The strong economic condition of the countries will give a boost to the construction sector, which in turn will accelerate the product market. The use of HDPE for plastic pipes in buildings will accelerate the product market. The construction projects in developed and developing regions of the world will ramp up the market growth.

The automotive sector has enjoyed several benefits of the product during the manufacturing process. The product has contributed to reduce the fuel consumption in vehicles which is one of the key aspects that consumers look for. This will give an impetus to the high density polyethylene market. The level of pollutant emission is also reduced with the use of HDPE, which will drive the product market. The high demand for films and pipes in the agriculture sector will likely augment the product market.

The end-use industries served by the product are automotive, packaging, agriculture and construction. The packaging industry held the dominant market share in 2015 with a value exceeding USD 16 billion, which is expected to grow at a robust pace. The product can be found in various forms such as pipe & extruded, injection molded, blow molded and film & sheet.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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