High Density Polyethylene Market to witness 4% CAGR over 2018 to 2024
Date: 2018-12-05   Author: Rahul Varpe  Category: #market

High Density Polyethylene Market to witness 4% CAGR over 2018 to 2024

Global Market Insights, Inc. adds a new High Density Polyethylene Market research report for the period of 2018-2024 focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

High Density Polyethylene market size will cross USD 88 billion till 2024 according to a new research report by Global Market Insights, Inc. High density polyethylene (HDPE) is majorly used for packaging in pharmaceutical, food & beverages and cosmetics industries. It has improved mechanical properties and higher strength to density ratio than low density polyethylene. It is used to pack food items such as ready-to-mix, ready-to-cook food. Increasing packed food items market due to ease-of-consumption and its handiness will boost product market.

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High density polyethylene to produce products such as pipes, plumbing and electrical boxes, and telephone ducts. These products are deployed at construction sites in residential, commercial and industrial projects. Infrastructural development in emerging economies such as urban and hydropower transportation, roads & highways, commercial building, shopping malls, shall give a positive outlook for high density polyethylene market.

High density polyethylene is used for agricultural applications in the form of pipes. These pipes are used for irrigation, drainage and water supply. These pipes performance is much better than other material pipes and are also less expensive in terms of installation and material cost. Further, these pipes have limited need for fittings and requires lesser pipe laydown area. HDPE pipes can handle salty water and corrosive conditions and are even corrosion resistant from outside.

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Nowadays, there is an increasing adoption of high density polyethylene bottles in the pharmaceutical industry. Also, pharmaceutical companies and hospitals are giving priority to HDPE bottles as compared to glass bottles. High density polyethylene bottles prevent the inner material from getting exposed to the outer atmosphere and are not as brittle as glass. These bottles are opaque and can withstand a temperature of nearly 110o Celsius. Thus, increasing health concerns among people and growing population augment high density polyethylene market.

Film & sheet forms of HDPE are likely to exhibit a decent growth rate of 4.5% between 2016 and 2024. These films & sheets are used for notebook covers and harsh chemical environments. It has the advantages of being chemically inert, easily fabricable and affordable. High density polyethylene films are available in wide varieties depending on their clarity, breakability, flexibility and rigidity.

Packaging shall be the most prominent end-user in high density polyethylene market. It was valued above USD 16 billion during 2015. It is used in industries such as cosmetics and pharmaceuticals. These industries have a significant growth in the near future, contributing to high density polyethylene market.

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Asia Pacific has a growth potential in packaged food & beverage market and is witnessing a substantial escalation in construction activities. Booming infrastructural development in China will offer an opportunity for the product market in this region.

The key manufacturers of HDPE are Honam Petrochemical Corporation, Borealis AG, Abu Dhabi Polymers Company Ltd, Chevron Phillips Chemical Co, Formosa Plastics Corp, Braskem S.A., LyondellBasell industries NV and Exxon Mobil Corp.

About Global Market Insights:

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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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. 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. ...

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