Global High Density Polyethylene (HDPE) Resins Market Size, Share, Growth Analysis, By Product Type(Adhesive Type HDPE Resin, Coating Type HDPE Resin), By Application(Film, Sheet), By End-User(Packaging, Agriculture) - Industry Forecast 2022-2028

Global High Density Polyethylene (HDPE) Resins Market is valued more than USD 52,985 billion in the year 2021, and it is anticipated to attain a value of USD 68,300 billion by 2028, at a CAGR of 5.45% over the forecast period (2022 - 2028).

High density polyethylene (HDPE) is predicted to see increased demand as a result of its moisture resistance, extended shelf life, decreased spoilage, and tensile strength. In the near future, technological advancements will probably cause the industry to grow. Artificial intelligence and robotic automation will influence market trends in the future.

They are widely used in packaging, garbage bags, transport bags, and industrial liners. In the upcoming years, its demand will be further increased by online shopping sites and food delivery services. Yet, the sector is currently experiencing difficulties because of shifting crude oil prices. The market price of plastic collapses as a result of this imbalance. The trade war's rising tension will further impede market pricing and demand.

Top-down and bottom-up approaches were used to estimate and validate the size of Global High Density Polyethylene (HDPE) Resins 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.

Segments covered in this report

The global high density polyethylene (HDPE) resins market is segmented based on product type, application, end user and region. Based on product type it is categorized into: adhesive type hdpe resin, coating type HDPE resin. Based on Application it is classified into: film and sheet, injection molding, blow molding, pipe and profile, wire and cables, others. Based on End user, it is sub-segmented into packaging, agriculture, building and construction, personal care, household, industrial containers and bottles, automotive, others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Driver

Plastic consumption awareness will increase demand for HDPE resins on the international market.

• Increasing demand from the automotive and packaging sectors: These industries are driving up demand for high-density polyethylene resins in the market. Recycled HDPE resin is being used more frequently because it provides benefits for the environment, including decreased energy use and greenhouse gas emissions. This is because HDPE resins are durable, chemically resistant, and heat resistant. It also helps to conserve resources.
• Consumer demand for lightweight goods has increased as fuel efficiency and carbon emissions have come under more scrutiny across a range of end-use industries. Given their superior weight-reduction potential in comparison to other plastic materials, HDPE resins are a popular choice among producers that want to reduce the overall weight of their goods without compromising on performance or quality standards.

Restraint

High-density polyethylene (HDPE) resins market projected to suffer in the near future as a result of fluctuating crude oil prices, which will impede market growth. This is due to the fact that the primary raw material used in the production of HDPE is ethylene, a petrochemical feedstock. As a result, changes in the price of crude oil directly affect ethylene prices. In addition, due to its potential to induce lung cancer when inhaled, HDPE has been labelled as carcinogenic by the International Agency for Research on Cancer. Moreover, during the forecast period of 2022-2028, the installation of stringent government restrictions in response to ecological concerns could be a substantial obstacle to market expansion.

Market Trends

• HDPE is frequently used in movies as a means of logistics and warehouse security. HDPE resin's thin-film applications are expected to grow over the next few years as a result of the expanding population's increased use of packaging films. Due to the need for high-quality, multilayer barriers to extend product shelf life and decrease food waste, the demand for food packaging will rise. The rising building industry, especially in China and the US, is expected to enhance demand for high-density polyethylene pipe.