High-Density Polyethylene Resins Market Research by Business Opportunities, Top Manufacture, Industry Growth, Industry Share Report, Size, Regional Analysis and Global Forecast to 2027 | Fortune Business Insights
The global high density polyethylene
(HDPE) resins market is expected to gain impetus from their
increasing usage in the food packaging industry worldwide. They are capable of
providing longer shelf lives to food products, as well as reduce spoilage. This
information is given by Fortune Business Insights™ in a new
study, titled, “High density Polyethylene (HDPE) Resins Market
Size, Share & COVID-19 Impact Analysis, By Application (Film &
Sheet, Injection Molding, Blow Molding, Pipe & Profile, Wire & Cables
and Others), By End-use Industry (Packaging, Agriculture, Building &
Construction, Automotive and Others), and Regional Forecast, 2020-2027.” The
study further mentions that the HDPE resins market size was USD 52,389
Million in 2019. It is projected to reach USD 68,297 Million by
2027, exhibiting a CAGR of 4.96% during the forecast period.
Shortage of Manpower owing to COVID-19 May Decline Growth
The emergence of the COVID-19 pandemic is disturbing the entire
supply chain of many organizations. This is further causing a decline in the
prices of oil, as well as shortage of manpower in the HDPE resins industry.
But, the governments of various countries are taking several initiatives to
prevent the transmission of coronavirus. We are delivering specially curated
research reports to help you understand the current situation and, thereby act
accordingly.
This Report Answers the Following Questions:
- What are the
market drivers, hindrances, and dynamics?
- Which region is
set to dominate the market in the near future?
- How will the key
players generate more sales amid the COVID-19 pandemic?
- Which segment is
expected to remain in the leading position in the coming years?
List of the Leading Companies Profiled in the Global High density
Polyethylene Resins Market are:
- Total S.A.
(France)
- Dow Inc. (U.S.)
- ExxonMobil
Corporation (U.S.)
- INEOS Group
Holdings S.A. (UK)
- SABIC (Saudi
Arabia)
- LG Chem (South
Korea)
- LyondellBasell
Industries N.V. (The Netherlands)
- Eni SpA (Italy)
- Braskem (Brazil)
- Chevron Phillips
Chemical Company LLC (U.S.)
- PetroChina
Company Limited (China)
- Indian Oil
Corporation Ltd (India)
- Reliance
Industries Limited (India)
- Formosa Plastics
Corporation (Taiwan)
- Others
Key Drivers & Restraints-
Increasing Usage of HDPE Resins in Manufacturing Sheets and Films
will Boost Growth
High-density polyethylene resins are used to manufacture sheets
and films worldwide. These are further utilized to produce industrial liners,
refuse sacks, wrappings, and carrier bags. Also, the increasing penetration of
the Internet, food delivery services, and online shopping platforms in the
developing economies across the globe would affect the high-density
polyethylene resins market growth in the near future. However, the availability
of substitutes, such as polyethylene terephthalate (PET) may hamper growth.
Segmentation-
Packaging Segment to Grow Rapidly Fueled by Usage in Plastic
Bottles & Tubing
Based on the end-use industry, the market is fragmented into
automotive, building & construction, agriculture, packaging, and others.
Out of these, the packaging segment held 47.30% HDPE resins market share in
2019 attributable to the increasing usage of the material for manufacturing
corrosion-resistant tubing, plastic lumber, and plastic bottles. HDPE resins
also have numerous beneficial properties, such as outstanding chemical
resistance, compressive strength, and low temperature.
Regional Analysis-
High Demand for Packaging from Various Sectors to Favor Growth in
North America
Geographically, North America procured USD 8,853.88 million in
2019 in terms of revenue on account of the presence of major consumer
industries in the region. Also, the increasing demand for packaging from
various sectors, such as chemicals, food and beverages, and healthcare are
expected to aid growth. Asia Pacific, on the other hand, is set to be the
fastest growing region in the coming years in terms of production and
consumption. Majority of the HDPE resins manufacturers are based in this
region. Europe would exhibit a steady growth backed by the increasing
competition between manufacturers.
Competitive Landscape-
Key Players Focus on Constructing Novel Plants to Surge Production
Capacity
The global market includes several large, medium, and small
companies that are increasingly investing in developing advanced plants to
surge production capacity. This way, they will not only be able to fulfill the
rising demand, but also strengthen their positions.
key industry Developments:
- June 2019: Qatar
Petroleum and Chevron Phillips Chemical Company LLC entered into an
agreement to jointly develop a new plant in the Gulf Coast region, U.S.
The new petrochemical plant would include two 1,000 KTA high density
polyethylene units and a 2,000 KTA ethylene cracker.
- April 2019: PetroChina is
set to use LyondellBasell’s Hostalen ‘Advanced Cascade Process’ technology
to produce 1,100,000 metric tons of HDPE resins per year. The new unit
will be able to fulfill the demand from its consumers.
Browse Summary of This Research Insights:
https://www.fortunebusinessinsights.com/high
density-polyethylene-hdpe-resins-market-103595
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