The global high-density polyethylene (hdpe) market was valued at USD 66.23 billion in 2021 and is anticipated to grow to USD 87.6 billion by 2028 recording a CAGR of 4.77% during the forecast period 2022-2028.HDPE is a crystalline plastic with a relatively rigid structure. It is sturdy, low-cost, has great processability, and a number of other qualities that make it an outstanding material for packaging as well as manufacturing. It's more durable than regular polyethylene, functions as a strong moisture barrier, and stays solid at room temperature. Aside from that, its insect, rot, and chemical resistant. HDPE does not emit harmful emissions throughout the manufacturing process or when it is used by end users. Its popularity is growing around the world because it does not release any toxic chemicals into the land or water.
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High-density polyethylene is widely utilised in the creation of films that protect products in storage facilities. The thin-film uses of HDPE are predicted to grow tremendously in the future, given the ever-increasing demand for packaging films. Because of the increased focus on extending the shelf life of edible products, food packaging applications will experience increased demand. HDPE is commonly utilised in a variety of packaging, both flexible and rigid. Furthermore, raising awareness about single-use plastics is projected to strengthen an already thriving HDPE ecosystem, which will benefit manufacturers. In industrial liners, carrier bags, and other applications, HDPE sheets and films are becoming increasingly popular. HDPE is used as a raw material for a large portion of rigid packaging solutions. Furthermore, the e-commerce industry's meteoric ascent as one of the most acceptable purchasing options has resulted in a dramatic increase in need for packaging raw materials, of which HDPE is one of the most extensively used.
The global high-density polyethylene (hdpe) market segmentation:
1) By Processing Technology: Blow Moulding, Film and Sheet Extrusion, Injection Moulding, Pipe Extrusion and Profile Extrusion.
2) By End User: Agriculture, Building and Construction, Electrical and Electronics, Industry and Machinery, Packaging, Transportation and Other End Users.
Due to the presence of a substantial packaging sector in this region, Asia Pacific was the largest market for HDPE in 2013. Furthermore, rising government spending on infrastructural development in the developing nations such as India and China are likely to enhance the high-density polyethylene market throughout the forecast period. Due to the significant demand for HDPE for film and injection moulding products, Europe was the second-largest market.
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Some of the major key players in the High-Density Polyethylene (HDPE) Market are Asahi Kasei Corp. (Japan) Braskem S.A. (Brazil) Chevron Phillips Chemical Co. (U.S) Chevron Phillips Chemical Company (U.S) Dynalab Corp. (U.S) Exxon Mobil Corporation (U.S) Formosa Plastics Corp. (Taiwan) LyondellBasell Industries N.V. (Netherland) Saudi Basic Industries Corporation (SABIC) (Saudi Arabia) The Dow Chemical Company (U.S)
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