Pune, India, Sept. 29, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™ the global high-density polyethylene (HDPE) resins market is expected to gain impetus from their increasing usage in the food packaging industry worldwide. They are capable of providing longer shelf lives to food products, as well as reduce spoilage. This information is given by Fortune Business Insights™.The study further mentions that the HDPE resins market size was USD 52,389 Million in 2019. It is projected to reach USD 68,297 Million by 2027, exhibiting a CAGR of 4.96% during the forecast period.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 4.96 % |
| 2027 Value Projection | USD 68,297 Million |
| Base Year | 2019 |
| High-Density Polyethylene (HDPE) Resins Market Size in 2019 | USD 52,389 Million |
| Historical Data | 2016-2018 |
| No. of Pages | 197 |
| Segments Covered | By Application, End-user and Regional Insights |
| High-Density Polyethylene (HDPE) Resins Industry Growth Drivers | Packaging Segment to Grow Rapidly Fueled by Usage in Plastic Bottles & Tubing |
| High Demand for Packaging from Various Sectors to Favor Growth in North America |
Lists out the names of all the renowned HDPE resins manufacturers present in the global market. They are as follows:
- LG Chem (South Korea)
- LyondellBasell Industries N.V. (The Netherlands)
- Eni SpA (Italy)
- Braskem (Brazil)
- Chevron Phillips Chemical Company LLC (U.S.)
- PetroChina Company Limited (China)
- Indian Oil Corporation Ltd (India)
- Reliance Industries Limited (India)
- Formosa Plastics Corporation (Taiwan)
- Total S.A. (France)
- Dow Inc. (U.S.)
- ExxonMobil Corporation (U.S.)
- INEOS Group Holdings S.A. (UK)
- SABIC (Saudi Arabia)
Segment-
Packaging Segment to Grow Rapidly Fueled by Usage in Plastic Bottles & Tubing
Based on end-use industry, the market is fragmented into automotive, building & construction, agriculture, packaging, and others. Out of these, the packaging segment held 47.30% HDPE resins market share in 2019 attributable to the increasing usage of the material for manufacturing corrosion-resistant tubing, plastic lumber, and plastic bottles.
HDPE resins also have numerous beneficial properties, such as outstanding chemical resistance, compressive strength, and low temperature.
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Drivers & Restraints-
Increasing Usage of HDPE Resins in Manufacturing Sheets and Films will Boost Growth
High-density polyethylene resins are used to manufacture sheets and films worldwide. These are further utilized to produce industrial liners, refuse sacks, wrappings, and carrier bags. Also, the increasing penetration of the Internet, food delivery services, and online shopping platforms in the developing economies across the globe would affect the high-density polyethylene resins market growth in the near future. However, the availability of substitutes, such as polyethylene terephthalate (PET) may hamper growth.
Regional Analysis-
High Demand for Packaging from Various Sectors to Favor Growth in North America
Geographically, North America procured USD 8,853.88 million in 2019 in terms of revenue on account of the presence of major consumer industries in the region. Also, the increasing demand for packaging from various sectors, such as chemicals, food and beverages, and healthcare are expected to aid growth.
Asia Pacific, on the other hand, is set to be the fastest growing region in the coming years in terms of production and consumption. Majority of the HDPE resins manufacturers are based in this region. Europe would exhibit a steady growth backed by the increasing competition between manufacturers.
Shortage of Manpower owing to COVID-19 May Decline Growth
The emergence of the COVID-19 pandemic is disturbing the entire supply chain of many organizations. This is further causing a decline in the prices of oil, as well as shortage of manpower in the HDPE resins industry. But, the governments of various countries are taking several initiatives to prevent the transmission of coronavirus. We are delivering specially curated research reports to help you understand the current situation and, thereby act accordingly.
Competitive Landscape-
Key Players Focus on Constructing Novel Plants to Surge Production Capacity
The global HDPE resins market includes several large, medium, and small companies that are increasingly investing in developing advanced plants to surge production capacity. This way, they will not only be able to fulfill the rising demand, but also strengthen their positions. Below are two latest industry developments:
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/high-density-polyethylene-hdpe-resins-market-103595
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Development: Mergers, Acquisition, Partnership. Etc.
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Pricing Analysis
- COVID-19 Impact on Global High-Density Polyethylene (HDPE) Resins Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global High-Density Polyethylene (HDPE) Resins Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Estimates and Forecast
- By Application (Value & Volume)
- Film & Sheet
- Injection Molding
- Blow Molding
- Pipe & Profile
- Wire & Cables
- Others
- By End-use Industry (Value & Volume)
- Packaging
- Agriculture
- Building & Construction
- Automotive
- Others
- By Region (Value & Volume)
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- By Application (Value & Volume)
TOC Continued…!
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