Global High Density Polyethylene Market: Increasing Applications in Packaging Industry to Bolster Market Growth, Says TMR
Plastic packaging takes up a large volume of the high density polyethylene produced. Roughly 30% of the global packaging industry materials used is high density polyethylene (HDPE), as it is a core plastic in rigid packaging. Bags, films, containers, caps
(EMAILWIRE.COM, October 10, 2018 ) Plastic packaging takes up a large volume of the high density polyethylene produced. Roughly 30% of the global packaging industry materials used is high density polyethylene (HDPE), as it is a core plastic in rigid packaging. Bags, films, containers, caps and closures, and bottles are the most common packaging products that use high density polyethylene. There is currently a very high demand for these types of packaging across the world, owing to a greater consumption of food and beverages and consumer goods. The growing importance of aesthetics is also a key factor that adds to the primary demand for HDPE.
The growing demand for pipes and films in the agriculture industry is another avenue where large quantities of high density polyethylene is used. This industry is one of the larger end users of high density polyethylene and therefore, any growth in it will create a direct increase in the demand for HDPE. High density polyethylene is used in manufacturing UV protective sheets and tarpaulins that offer high quality weather protection.
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However, a key concern that all producers of high density polyethylene have to face is the fluctuating cost of raw materials. HDPE makes use of a large amount of ethylene, a material formed in the oil and gas industry. The market for ethylene has recently undergone major fluctuations in price and the overall scarcity of petroleum based byproducts.
The overall result is a CAGR of 4.5% for the revenue generation in the global market for high density polyethylene from 2015 to 2023. This revenue is expected to reach US$62.48 bn by the end of 2016 and US$84.79 bn by 2023.
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Asia Pacific Demand for High Density Polyethylene Strengthens
Asia Pacific has led the global consumption of high density polyethylene for quite some time now, owing to a large agrarian population and a significant rise in consumer goods sales. By the end of 2023, Asia Pacific is expected to take up 46.9% of the high density polyethylene market’s global volume.
The region-based consumption of high density polyethylene is expected to be led by Asia Pacific till 2023, followed by Europe and North America. Europe and North America are relatively more mature than Asia Pacific in terms of high density polyethylene consumption, but are still showing a decent increase in consumption of the plastic owing to booming sales of consumer goods in rigid packaging. Additionally, high density polyethylene is approved by organizations such as the U.S. FDA, making users prefer it over other polymers.
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The top producers of high density polyethylene from a global standpoint include Chevron Phillips Chemical Company, LyondellBasell Industries, INEOS Olefins and Polymers, SABIC, and ExxonMobil.
The growing demand for pipes and films in the agriculture industry is another avenue where large quantities of high density polyethylene is used. This industry is one of the larger end users of high density polyethylene and therefore, any growth in it will create a direct increase in the demand for HDPE. High density polyethylene is used in manufacturing UV protective sheets and tarpaulins that offer high quality weather protection.
Request Sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5948
However, a key concern that all producers of high density polyethylene have to face is the fluctuating cost of raw materials. HDPE makes use of a large amount of ethylene, a material formed in the oil and gas industry. The market for ethylene has recently undergone major fluctuations in price and the overall scarcity of petroleum based byproducts.
The overall result is a CAGR of 4.5% for the revenue generation in the global market for high density polyethylene from 2015 to 2023. This revenue is expected to reach US$62.48 bn by the end of 2016 and US$84.79 bn by 2023.
Request Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=5948
Asia Pacific Demand for High Density Polyethylene Strengthens
Asia Pacific has led the global consumption of high density polyethylene for quite some time now, owing to a large agrarian population and a significant rise in consumer goods sales. By the end of 2023, Asia Pacific is expected to take up 46.9% of the high density polyethylene market’s global volume.
The region-based consumption of high density polyethylene is expected to be led by Asia Pacific till 2023, followed by Europe and North America. Europe and North America are relatively more mature than Asia Pacific in terms of high density polyethylene consumption, but are still showing a decent increase in consumption of the plastic owing to booming sales of consumer goods in rigid packaging. Additionally, high density polyethylene is approved by organizations such as the U.S. FDA, making users prefer it over other polymers.
Request for Customization @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=5948
The top producers of high density polyethylene from a global standpoint include Chevron Phillips Chemical Company, LyondellBasell Industries, INEOS Olefins and Polymers, SABIC, and ExxonMobil.
Contact Information:
Transparency Market Research
Ganesh Rajput
Tel: 15186181030
Email us
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Transparency Market Research
Ganesh Rajput
Tel: 15186181030
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results