High Density Polyethylene (HDPE) market value is expected to witness a noticeable surge over the coming timeframe, driven by the escalating product demand across the packaging, agriculture, automotive, and building & construction sectors. Besides, the product also finds wide applications in fireworks, 3-D printer filament, household goods, plastic bags, stone paper, corrosion-resistant piping, wood plastic composites, beverage bottles, geomembranes, backpacking frames, food storage containers, banners, bottle caps, and ballistic plates. As per Global Market Insights, Inc., “High Density Polyethylene (HDPE) Industry revenue is forecast to surpass USD 88 billion by 2024.” The growing popularity of the product across residential and commercial construction will further stimulate the market expansion. Rapid infrastructural growth across developing countries will benefit high density polyethylene (HDPE) market considerably.
Europe High Density Polyethylene Market size, by end-user, 2013-2024 (USD Million)
High spending on household goods across the emerging economies, owing to rising consumer consciousness and the increase in per capita income is expected to promote high density polyethylene (HDPE) industry development over the coming seven years. Household goods sector is witnessing a booming growth across various APAC regions such as China and India. The flourishing food & beverages sector is also expected to drive the market revenue over 2016-2024.
High density polyethylene (HDPE) industry size in the packaging sector, worth USD 16 billion in 2015, is projected to grow significantly over the years to come. Enhanced product use for packaging purposes across the cosmetic, pharmaceuticals, and food & beverages sectors will substantially drive market growth. High density polyethylene (HDPE) market size in the agriculture sector is expected to witness a notable growth over the period of 2016 to 2024. This growth can be attributed to extensive product usage, driven by its excellent corrosion resistance features.
Topographical Trends pertaining to High Density Polyethylene Market over 2016-2024 are given below:
Market players will try to increase their ROI as well as regional presence through product innovations, strategic alliances, and high R&D investments. Abu Dhabi Polymers Company Limited, PetroChina Company Limited, The Dow Chemical Company, Chevron Phillips Chemical Company, Exxon Mobil Corporation, Borealis AG, Honam Petrochemical Corporation, Braskem S.A., LyondellBasell Industries NV, and Formosa Plastics Corporation are the key players of high density polyethylene (HDPE) industry.