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

January 23, 2018

LONDON–(BUSINESS WIRE)–#Plastics—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.

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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