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High Density Polyethylene Market is expected to reach US$ 84.79 Bn in 2023: Transparency Market Research

Albany - NY, Aug. 25, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled "High Density Polyethylene (Blow Molding, Pipe & Extrusion, Film & Sheet, Injection Molding and Others) Market for Agriculture, Building & Construction, Automotive, Packaging, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." According to the report, the high density polyethylene market was valued at US$ 56.13 Bn in 2014 and is likely to reach US$ 84.79 Bn in 2023, expanding at a CAGR of 4.5% between 2015 and 2023. In terms of volume, demand for high density polyethylene stood at 39,254.6 kilo tons in 2014.

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High density polyethylene is one of the major polyethylene products consumed globally. It is used in numerous applications in various end-user industries across the globe. Global demand for high density polyethylene is primarily driven by growth in plastic packaging and agriculture films and pipes industries across the globe. Furthermore, growth in construction activities is estimated to fuel the high density polyethylene market globally. These factors are anticipated to boost the high density polyethylene market in the near future. Limitations pertaining to supply and volatility in prices of raw materials are anticipated to offer key challenges to market players.

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Blow molding was the dominant product segment of the high density polyethylene market, accounting for over 25% of the global demand in 2014. Demand for blow molded products is estimated to rise significantly in the next few years due to its increasing usage in packaging applications across the globe. Usage of blow-molded high density polyethylene in rigid packaging applications is anticipated to propel the global high density polyethylene market during the forecast period.

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Asia Pacific constituted more than 40% share of the global high density polyethylene market in 2014, followed by Europe and North America. It is likely to be the fastest-growing region in terms of production and consumption of high density polyethylene products. This can be attributed to increase in industrial and agricultural activities in Asia Pacific. Asia Pacific has emerged as a key destination for high density polyethylene producers due to economic development coupled with increasing disposable income in the region. This has encouraged various manufacturers to establish new capacities in the region. The Middle East & Africa is another key region where demand for high density polyethylene products was high in 2014. In terms of volume, the market for high density polyethylene in the Middle East & Africa is likely to expand at a CAGR of over 4% between 2015 and 2023.

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Major players in the high density polyethylene market include Chevron Phillips Chemical Company, Exxon Mobil Corporation, LyondellBasell Industries N.V., Mitsui Chemicals, Inc., and Huntsman Corporation. The high density polyethylene market has been segmented as follows:

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High Density Polyethylene (HDPE) Market - Product Segment Analysis

  • Blow Molding
  • Pipe & Extrusion
  • Film & Sheet
  • Injection Molding
  • Others (Including Rotomolding, etc.)

High Density Polyethylene (HDPE) Market - Application Analysis

  • Agriculture
  • Building and Construction
  • Automotive
  • Packaging
  • Others (Including Industrial, etc.)

High Density Polyethylene (HDPE) Market - Regional Analysis

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • France
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • India
  • ASEAN
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC Countries
  • South Africa
  • Rest of MEA

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About Us:

Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research