High-Density Polyethylene Resins Market will exhibit a CAGR of 4.96% during the forecast period, and reach USD 68,297 million by 2027, and the Market value as per 2019 was USD 52,389 million.
Fortune Business Insights™ in a new report, titled, “High-Density Polyethylene (HDPE) Resins Market Size, Share & Industry 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.”
High-Density Polyethylene Resins Market Drivers and Restraint:
Soaring Demand for PE Resins for Packaging Purposes to Drive Growth
High-density polyethylene resins have been extensively used in rigid, as well as flexible packaging. The probable ban on single-use plastics is likely to benefit the manufacturers as the ecosystem for HDPE recycling was being constantly built up. This is further expected to ramp up as restrictions take over.
High-density polyethylene sheets & films are particularly used in carrier bags, wrappings, refuse sacks, and industrial liners. Besides, a substantial amount of rigid packaging solutions manufactured by using HDPE resin which includes, crates, packaging containers, tanks, and others. The rising penetration of online shopping, internet, and food delivery services especially in the emerging nations has resulted in an exponential rise in the demand for packaging raw materials, high-density polyethylene being one of the prominent.
List of Key Players Covered in the High-Density Polyethylene Resins Market Report:
• 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)
• Nova Chemicals
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/high-density-polyethylene-hdpe-resins-market-103595
Some of the key industry developments in the High-Density Polyethylene Resins Market Include:
• July 2019: Reliance Industries Limited (RIL) successfully acquired design capacity in the new polyethylene plant using UNIPOL PE Process from Univation Technologies. This Jamnagar-based RIL plant is capable of manufacturing a wide variety of polyethylene items, including unimodal products & bimodal HDPE, LLDPE, MDPE, & Metallocene. This advancement would enable the company to strengthen its output capacity and expand its footprint in the market.
• April 2019: PetroChina Company Limited announced that it received the license to build three new HDPE units. It will be using the LyondellBasell Hostalen “Advanced Cascade Process” technology for surging the production capacity of high-density polyethylene to 1,100,000 metric tons per year. This agreement would help LyondellBasell's multimodal technology to successfully meet the needs of the consumers.