Top 3 Drivers for the Global High-density Polyethylene Market | Technavio

Technavio market research analysts forecast the global high-density polyethylene (HDPE) market to grow at a CAGR of close to 4% during the forecast period, according to their latest report.

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Technavio has published a new market research report on the global high-density polyethylene market 2018-2022 under their chemicals and materials library. (Graphic: Business Wire)

This market research report segments the global high-density polyethylene market into the following four major applications (film and sheet, blow molding, injection molding, and pipe and extrusion), by end-user (packaging, building and construction, agriculture, and automotive), and three major regions (Americas, APAC, and EMEA).

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In this report, Technavio analysts highlight the following three market drivers that are contributing to the growth of the global high-density polyethylene market:

• Growing demand from packaging industry
• Increasing demand from developing countries
• Growing demand from automotive industry

Growing demand from packaging industry

HDPE is one of the most widely used materials in the production of plastic packaging. The easy processing and low cost of HDPE are the major factors contributing to its growth in the packaging industry. The increase in demand for HDPE in containers and bottles is anticipated to drive the demand owing to its effective barrier and chemical stability. Unpigmented bottles made from HDPE are translucent, have stiffness, and are well suited for packaging products with short shelf life cycle.

According to a senior analyst at Technavio for plastics, polymers, and elastomers, “The packaging of water, milk, juice, shampoo, and cosmetics among others are some of the applications of HDPE. It is also used for packaging industrial and household chemicals such as bleach and detergents due to its good chemical resistance. Functionalities such as excellent puncture resistance, reduced tearing, low stretch, and moisture protection are some of the factors contributing to its use in retail and groceries bags.”

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Global high-density polyethylene market segmentation

By end-user, the HDPE market is segmented into packaging, building and construction, agriculture, automotive, and others. In 2017, the packaging segment contributed to around 34% of the market share. It was followed by the building and construction sector that contributed to around 26% of the market share. The film and sheet end-user segment contributed to around 29% of the market share in 2017.

APAC held the highest share of the market in 2017, occupying almost 46% of the market share. APAC was followed by EMEA and the Americas that contributed to around 31% and 23% of the market share respectively. The growing population and increase in middle-class income in APAC are the major factors contributing to its growth. The growing demand for HDPE from packaging, construction, and agricultural applications is expected to foster the market growth.

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