Global High-Density Polyethylene Market Overview
High-Density Polyethylene Market Size was valued at USD 75.43 billion in 2022. The High-Density Polyethylene industry is projected to grow from USD 78.45 Billion in 2023 to USD 111.15 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.45% during the forecast period (2023 - 2030).
High-density polyethylene is a rigid plastic with advantageous traits like better tensile strength, processability, affordability, and environmental friendliness. Neither during the production procedures nor during the degradation do they release any waste or hazardous gases into the environment. High-density polyethylene has been used by a number of end-user applications due to its potential benefits including low cost, a harder construction, a barrier against moisture and temperature, superior resistance to insects and chemicals, and other properties. Chemical excretions must not leak into the environment since many industrialized nations redirect them underground. These HDPEs are widely used for such applications since they are corrosion-resistant.
High-Density Polyethylene Market Trends
Rising Demand for Infrastructure Development and Sewage Development
The market for high-density polyethylene is expected to increase primarily as a result of the rising need for sewage and infrastructure development. For example, high-density polyethylene pipes have been adapted for use in underground piping systems for sewage, fire loops, manholes, and other agricultural uses. The industry for high-density polyethylene is expanding overall as a result of such reasons. Additionally, advantage of high density polyethylene properties
They are widely utilised in the packaging of food, beverages, and other goods. As a result, the market for high-density polyethylene has expanded due to the expanding internet usage and e-commerce trend.
High-Density Polyethylene Market Segment Insights
High-Density Polyethylene End-Use Industry Insights
Throughout the projected period, the packaging category is anticipated to post a consistently high rate of sales growth. Due to their light weight, flexibility, and superior moisture resistance, HDPE is utilized for a variety of packaging purposes, including pharmaceutical and food and beverage packaging. During the forecast period, this segment's revenue growth is anticipated to be driven by the rapidly expanding food and beverage industry as well as an increase in the use of HDPE in cosmetic packaging.
Additionally, due to its exceptional features, the building & construction segment accounted for a sizable sales share in 2021. Along with resistance to weather, heat, bugs, and environmental conditions, they also provide an endless array of advantages. Demand for this product in the building and construction industry is also anticipated to increase due to HDPE's expanding use in a variety of construction materials, including sheets and films for windows, flooring, roofing, building cover materials, and seal-off rooms.
In August 2021, A novel polyethylene resin for packaging was introduced by Sao Paulo-based petrochemical giant Braskem. The company will meet the quality requirements of the chemical and agrochemical markets with this launch. Properties like stiffness, impact resistance, and breaking from external stress are crucial elements that increase product safety for the packaging industry.
In May 2021, LACTEL and INEOS created the first HDPE milk container ever through sophisticated recycling, which turns used plastic into fresh, high-quality polymers. By collaborating with INEOS, LACTEL is the first dairy company to investigate a recycled material option for Ultra-High Temperature (UHT) milk bottles.
Figure 2: HIGH-DENSITY POLYETHYLENE MARKET, BY END-USE INDUSTRY, 2022 & 2030 (USD BILLION)
High-Density Polyethylene Regional Insights
The Asia-Pacific area is now showing a larger market share for high-density polyethylene and is thought to be both its greatest consumer and producer. The region's rising population rate and growing preference for packaged goods and foods are promoting the high-Density polyethylene industry's overall expansion. High-density polyethylene's strength to endure critical temperatures and opaqueness are two of its key characteristics. As a result, they are mostly utilized in the building industry, cosmetics, bottles, and personal care goods. Since there is greater demand for these end-user applications in the Asia-Pacific area, it is anticipated that regional high-density polyethylene sector growth will continue at its current rate.
In addition, the rise of the high-density polyethylene market is being fueled by the high density polyethylene uses such as high density polyethylene sheet in China's construction sector. Since 2017, China's construction sector has experienced particularly rapid expansion, and the country's propensity to invest more money in infrastructure development is having an effect on the market growth for high-density polyethylene.
Figure 2: HIGH-DENSITY POLYETHYLENE MARKET, BY REGION, 2022 & 2030 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
High-Density Polyethylene Key Market Players & Competitive Insights
The HDPE market's competitive environment is dispersed, with numerous major competitors active on both a and regional scale. To increase their individual product portfolios and establish a solid foothold in the market, key players are working on product development and strategic alliances.
Key Companies in the High-Density Polyethylene market includes
High-Density Polyethylene Industry Developments
In July 2022: ExxonMobil introduced a new line of HDPE products called EXXONMOBIL HMA706, which is distinguished by strong impact resistance and high dimensional stability. HMA706 has a high shine and is authorised for food contact and fast cycling, making it perfect for packing food or other consumer goods.
In June 2022: A new production plant in Texas will get USD 207 million from Formosa Plastics Corporation. By October 2025, the project is anticipated to be completed. When complete, the facility will be able to produce 100,000 tonnes of alpha olefins annually, which are needed to make high-density polyethylene (HDPE) and other goods.
High-Density Polyethylene Market Segmentation
High-Density Polyethylene Product Type Outlook
High-Density Polyethylene End Use Industry Outlook
Building & Construction
High-Density Polyethylene Regional Outlook
Rest of Europe
Rest of Asia-Pacific
Rest of the World
|Market Size 2022
|USD 75.43 billion
|Market Size 2023
|USD 78.45 billion
|Market Size 2030
|USD 111.15 billion
|Compound Annual Growth Rate (CAGR)
|2019 & 2021
|Value (USD Billion)
|Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|Product Type, End Use Industry and Region
|North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
|U.S., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Argentina, Mexico, South Africa, Turkey, GCC.
|Key Companies Profiled
|Dow, Exxon Mobil Corporation, INEOS, SABIC, LyondellBasell Industries Holdings BV, LOTTE Chemical Corporation, Borealis AG, PetroChina Company Limited, Abu Dhabi Polymers Company Ltd., Formosa Plastics Corp., Braskem S.A, Chevron Phillips Chemical Co.
|Key Market Opportunities
|Increasing Investment in Construction Industry
|Key Market Dynamics
|Rising Demand for Infrastructure Development and Sewage Development
High-Density Polyethylene Market Highlights:
Frequently Asked Questions (FAQ) :
High-Density Polyethylene Market Size was valued at USD 75.43 billion in 2022.
The global high-density polyethylene market size was valued at USD 15.1 billion in 2021
The High-Density Polyethylene market industry is projected to grow at CAGR of 4.45%
Asia Pacific is expected to hold the highest share in the market
Dow, Exxon Mobil Corporation, INEOS, SABIC, LyondellBasell Industries Holdings BV, LOTTE Chemical Corporation, Borealis AG, PetroChina Company Limited, Abu Dhabi Polymers Company Ltd., Formosa Plastics Corp., Braskem S.A, Chevron Phillips Chemical Co.
Injection Molded, Blow Molded, HDPE Pipes, HDPE Films
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