Request Sample
Request Methodology
Description
The global High-Density Polyethylene (HDPE) Market was valued at USD 66.23 Billion in 2021 and is anticipated to grow at USD 87.6 Billion by 2028 recording a CAGR of 4.77% during the forecast period 2022-2028. A polyethylene thermoplastic manufactured from naphtha, natural gas, or gas oil, for example, is known as high density polyethylene. One kilogramme of high density polyethylene requires around 1.75 kilos of petroleum (in terms of, both, energy and raw materials). The density of high density polyethylene ranges from 0.93 g/cm3 to 0.97 g/cm3. High density polyethylene has a lower branching density than low density polyethylene, resulting in a stronger intermolecular force and tensile strength. Because the strength difference surpasses the density difference, high density polyethylene has a higher specific strength. Due to severe emission rules, the worldwide High-Density Polyethylene market is primarily driven by rising demand for lightweight automobiles. As a result, increasing the use of lightweight materials for improved safety and fuel efficiency is expected to benefit the industry during the forecast period. The expansion of the High-Density Polyethylene market is also aided by the increased usage of plastic and paper as packaging materials. Some of the key factors propelling the market growth include vigorous demand for HDPE from the packaging Industry, increasing preference for high density polyethylene bottles from pharmaceutical companies, increasing application scope in construction and increasing use of high-density polyethylene in production of UV protected sheets and tarpaulins. However, fluctuating raw material prices are hampering the market growth. In addition, HDPE has low moisture absorption, chemical & corrosion resistance, excellent tensile strength and strong impact resistance characteristics. Due to these properties it finds its use in various applications and industries which increases the market growth. Global high-density polyethylene (HDPE) market is surging owing to frequent acquisitions and launchings by the market players. For Instance, in Mar 2019, Asahi Kasei expanded its battery film production in US, Japan. Rapid growth of the LIB market is primarily driven by automotive applications due to increasing demand for electric-drive vehicles and by energy storage systems, due to a greater adoption of renewable power sources
