The packaging industry has experienced a drastic change over the past few years. The increased demand for packaged goods has escalated the demand for high density polyethylene (HDPE).

Sellbyville, DE -- (SBWire) -- 05/20/2019 --Global Market Insights recently introduced new report on global High Density Polyethylene (HDPE) market with an in-depth study providing complete analysis of the industry size, share and statistics for the period 2019 to 2024. It also provides complete overview of High Density Polyethylene (HDPE) industry considering all the major industry trends, market dynamics and competitive scenario.

The packaging industry has experienced a drastic change over the past few years. The increased demand for packaged goods has escalated the demand for high density polyethylene (HDPE). With the increased disposable income of the people, consumption of products such as packaged foods, personal care products, pharmaceuticals, etc. has considerably increased over the past few years. This will lead to an escalating demand for the product.

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The construction segment has been growing rapidly due to the growth in global infrastructure sector. The strong economic condition of the countries will give a boost to the construction sector, which in turn will accelerate the product market. The use of HDPE for plastic pipes in buildings will accelerate the product market. The construction projects in developed and developing regions of the world will ramp up the high density polyethylene market growth.

The automotive sector has enjoyed several benefits of the product during the manufacturing process. The product has contributed to reduce the fuel consumption in vehicles which is one of the key aspects that consumers look for. This will give an impetus to the high density polyethylene market. The level of pollutant emission is also reduced with the use of HDPE, which will drive the product market. The high demand for films and pipes in the agriculture sector will likely augment the product market.

Ethylene is used in the production of HDPE, which is a petroleum-based product. The oscillating price of raw material such as crude oil will adversely affect the high density polyethylene market.

The end-use industries served by the product are automotive, packaging, agriculture and construction. The packaging industry held the dominant market share in 2015 with a value exceeding USD 16 billion, which is expected to grow at a robust pace. The product can be found in various forms such as pipe & extruded, injection molded, blow molded and film & sheet.

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The blow molded high density polyethylene market held a market share of over 25% in 2015 which is expected to grow at a robust rate. Plastic bottles are made from HDPE, whose demand is projected to increase with the growing beverage industries. Film & sheets are estimated to grow at a decent rate of over 4.5% during the forecast period, owing to its wide use in notebook covers.

The product market in Asia Pacific is expected to register high sales by 2024, owing to the increased consumption of the product in consumer goods. Development in countries like China and India will fuel the high density polyethylene market growth. The trend of rigid packaging of consumer goods will propel the product market in North America and Europe.

The High Density Polyethylene (HDPE) market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the High Density Polyethylene (HDPE) market based on product, technology, end user and region.

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The key companies present in the high density polyethylene market are Honam Petrochemical Corporation, Borealis AG, The Dow Chemical Company, PetroChina Company Limited, Abu Dhabi Polymers Company Ltd., Formosa Plastics Corp., LyondellBasell industries NV, Exxon Mobil Corp., Braskem S.A. and Chevron Phillips Chemical Co.

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