Global High Density Polyethylene Market size was estimated at USD 59 Billion in 2015 and is projected to surpass USD 88 Billion by the year 2024.

Ocean View, DE -- (SBWire) -- 05/08/2020 --Global High Density Polyethylene Market report provides in-depth information about Industry overview, top vendors, Key market highlights, drivers, challenges, trends, industry landscape, size and forecast.

Global High Density Polyethylene Market size was estimated at USD 59 Billion in 2015 and is projected to surpass USD 88 Billion by the year 2024.

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The rapid development of the electronics, construction, and packaging sectors will lead to a substantial surge in global high density polyethylene market size. Growing inclination of pharmaceutical companies and hospitals toward using high density polyethylene for medicine bottles and other forms of medicinal packaging will lead increased product demand.

HDPE is used extensively across the F&B sector to pack edible foodstuff, owing to its improved mechanical properties and temperature toughness. The urban trend of preferring packaged (ready-to-mix and ready-to-eat) meals will thus provide ample growth prospects for high density polyethylene industry to progress from the food & beverage sector.

Rising demand for sheet & film form in the packaging sector to drive market trends over the forecast period

Experimentally manufactured using thermoplastic processing methods somewhere around the mid-1930s, high density polyethylene found its first commercial application in high frequency radar cables to be used in wars, thus setting the wheels in motion for ample growth of high density polyethylene market. In the decades that followed, the product found immense potential and is now available in a host of grades.

With a multitude of benefits such as low cost, temperature resistance, chemical sustenance, moisture protection, and opacity to its credit, this polymer finds widespread utilization in major professional domains, thereby mobilizing the global industry trends. Of the various forms commonly available, the demand for sheets and films is exceptionally high.

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Leading manufacturers are striving to produce a wide range of product grades to meet the growing demand. Efforts are being undertaken to specially design HDPE grades for customized applications such as telecom ducts, bags, sacks, and high pressure pipes. Notable companies involved in the manufacture of various grades in HDPE market include (Borouge) Abu Dhabi Polymers Company Ltd., PetroChina Company Limited., The Dow Chemical Company, Borealis AG, Braskem S.A., Honam Petrochemical Corporation, Formosa Plastics Corp., Chevron Phillips Chemical Co., and Exxon Mobil Corp.

High density polyethylene industry is slated to observe remarkable gains from numerous sectors, given the widespread scope of these products. For instance, HDPE pipes are highly affordable in terms of material and installation, owing to which they are used for water supply and irrigation in agriculture. HDPE is also used to produce electrical boxes and telephone ducts. The rapid expansion of the construction, transportation, automotive, and packaging sectors will stimulate the industry trends in the years to come.

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