Global High Density Polyethylene (HDPE) Resins Market is expected to foresee significant growth. APAC to lead the growth!
- Himanshu Patni
- February 13, 2023
- CHEMICAL, NEWS
- High Density Polyethylene (HDPE) Resins Market, High Density Polyethylene (HDPE) Resins Market growth, High Density Polyethylene (HDPE) Resins Market Share, High Density Polyethylene (HDPE) Resins Market Size, High Density Polyethylene (HDPE) Resins Markettrends
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HDPE is significantly being used in films to secure the goods in the warehouse and logistics. High-density polyethylene resins have been extensively used in rigid, as well as flexible packaging. The manufacturers have an advantage from the potential ban on single-use plastics because the environment for HDPE recycling has been continuously growing. Worldwide, high-density polyethylene resins are utilized to produce sheets and films as these are also used to make carrier bags, waste sacks, wrappings, and industrial liners. They have the ability to extend the shelf life of food products and lower spoilage. Thus, the high demand for multiple-use plastic across the world drives the market growth.
The High Density Polyethylene (HDPE) resins Market is expected to grow at a steady rate of around 5% owing to the rapid surge in the demand for packaging raw materials. Major companies in the market offer HDPE for industrial applications and invest in R&D and technology to improve product lines. For instance, on October 2020, SABIC embarked on a pilot project with Schwarz Group, Europe’s largest retail store operator, for the use of transparent film bags made from certified circular polyethylene (PE) in vegetable packaging. SABIC’s TRUCIRCLE certified circular polymers in the pilot project include high-density polyethylene (HDPE) and a few other resins.
For a detailed analysis of the Global High Density Polyethylene (HDPE) Resins Market browse through- https://univdatos.com/report/high-density-polyethylene-hdpe-resins-market/
Based on type, the market is segmented into adhesive type HDPE resin, and coating type HDPE resin. adhesive type HDPE resin held a significant market share in 2020. Adhesive type HDPE resins are widely utilized in the packaging sector. Due to its characteristics, such as excellent sealing strength, durability to higher temperatures and pressures, and quick drying times.
On the basis of end user, the market is categorized into packaging, agriculture, building & construction, automotive, and others. Among these, packaging held a significant share of the market in 2020. HDPE is an ideal material for food and beverage containers due to its lightweight and high-strength properties that are used as packaging. In the packaging industry, it is widely used in the production of plastic bottles, corrosion-resistant tubing, and plastic lumber. High-density polyethylene packaging is majorly used in many ways, including sacks, containers, and bottles.
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For a better understanding of the market adoption of the high density polyethylene (HDPE) resins industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC grow with a significant CAGR during the forecast period. This is mainly due to the area’s high population and growing building & construction, packing, and other sectors, consumption as well as production have increased. The Asia Pacific area contains the majority of HDPE resin producers and capacities. For instance, in 2019, China Railway Construction Corporation (1186) announced the value of newly signed contracts for the first three quarters this year rose 25.07% from a year ago to 0.17 trillion USD. Moreover, India’s construction development sector activity reached USD 25.93 billion between 2000 and 2020, said the Department of Industry and Internal Trade Promotion (DPIIT).
Some of the major players operating in the market include Dow, LG Chem, LyondellBasell Industries Holdings B.V., SABIC, Exxon Mobil Corporation, BASF SE, Chevron Phillips Chemical Company LLC, Braskem, Formosa Plastics Corporation, Qatar Petrochemical Company (QAPCO) Q.P.J.S.C.
Global High Density Polyethylene (HDPE) Resins Market Segmentation
Market Insight, by Type
· Adhesive Type HDPE Resin
· Coating Type HDPE Resin
Market Insight, by Application
· Films & Sheets
· Injection Coatings
· Blow Molding
· Others
Market Insight, by End User
· Packaging
· Agriculture
· Building & Construction
· Automotive
· Others
Market Insight, by Region
· North America
o The U.S.
o Canada
o Rest of North America
· Europe
o Germany
o The United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Dow
· LG Chem
· LyondellBasell Industries Holdings B.V.
· SABIC
· Exxon Mobil Corporation
· BASF SE
· Chevron Phillips Chemical Company LLC
· Braskem
· Formosa Plastics Corporation
· Qatar Petrochemical Company (QAPCO) Q.P.J.S.C.
