PUBLISHER: SkyQuest | PRODUCT CODE: 1205824
PUBLISHER: SkyQuest | PRODUCT CODE: 1205824
Global High-Density Polyethylene Market was valued at USD 74.5 billion in 2021, and it is expected to reach a value of USD 87.5 billion by 2028, at a CAGR of 2.32% over the forecast period (2022-2028).
The demand for packaging for several applications, including food and beverage, pharmaceuticals, and personal care goods, is likely to increase over the course of the forecast period, leading to a rise in the global high-density polyethylene (HDPE) market. Due to its expanding range of uses in the construction, chemical, blow-molded bottles, plumbing boxes, and electronics industries, HDPE demand is expected to rise. It is anticipated that rising food and beverage demand will increase demand for blow-molded bottles, which will, in turn, increase demand for HDPE.
Top-down and bottom-up approaches were used to estimate and validate the size of the global high-density polyethylene market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global High-Density Polyethylene Market is segmented based on the age feedstock, manufacturing, application, end-user, and region. Based on feedstock, market is segmented into naphtha, natural gas and others. Based on manufacturing, the market is segmented into gas phase, slurry process, solution process and others. Based on application, the market is segmented into blow molding, injection molding, pipes and tubes, rigid articles, sheets and films, and other applications. On the basis of End-user, the market is segmented into packaging, automotive, building and construction, agriculture, and other end-user industries. By region, the market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
Different grades of HDPE are produced using a variety of processing methods, such as injection moulding, profile extrusion, film and sheet extrusion, pipe extrusion, and blow moulding. Numerous end-use sectors, such as personal care and cosmetics, blow-molded bottles, telecom ducts, fireworks, home goods, electrical & plumbing boxes, films, construction, and pipes, use high-density polyethylene. Players in the worldwide market will benefit from lucrative growth prospects as a result.
High concentrations of alternatives impede growth, such as high-density polyethylene, even though PET is one of the strongest substitutes for HDPE resin. PET is mostly used in food containers, water bottles, beverage bottles, and other related applications. The industry for recycled plastic bottles is already established. It's also one of the polymers that are recycled the most. One of the main factors promoting the growth of bottle recycling is the development of technology to improve product purity and reduce operational expenses.
HDPE pipes and hoses are currently being used in numerous medium- to large-scale projects.
Modern HDPE multi-layer pipes are also used in new construction and hydraulic engineering projects. Given that it saves money on expensive bedding materials and also offers enhanced reliability and durability, this could represent a new market potential. Over the course of the projection period, the market will grow significantly as a result. The plumbing industry's need for high-density polyethylene is likely to increase globally over the course of the forecasted period as a result of all of these causes.