High-density polyethylene extrusion market was evaluated at US$33.145 billion for the year 2020, growing at a CAGR of 4.28%, reaching a market size of US$44.445 billion by the year 2027.
A thermoplastic polymer made from the monomer ethylene is known as high-density polyethylene. The high strength-to-density ratio of HDPE is well-known. It has elevated specific strength and is hard, opaque, and temperature resistant. It can withstand a variety of solvents. These characteristics allow HDPE resin to be used as a raw material in various industries. The process of developing HDPE after extrusion is termed HDPE extrusion. The characteristics of HDPE make it suitable for several applications in different industries. The application of HDPE in the food packaging industry is one of the major factors contributing to the market growth of HDPE extrusion. In industrial liners, carrier bags, and other applications, HDPE sheets and films are becoming increasingly popular. HDPE is used as a raw material for a large portion of rigid packaging solutions. The global increase in automotive production is a major element influencing the global growth of the high-density polyethylene market. The ultra-high molecular weight grade of high-density polyethylene ls is available in many densities, providing toughness that outlasts steel in some applications. As a result, the demand for high-density polyethylene from the automobile industry is increasing. As the demand for high-density polyethylene rises in different industries, the market for HDPE extrusion is growing globally.
The recent outbreak of the COVID-19 pandemic had a negative impact on the market growth of the high-density polyethene extrusion market. The lockdowns and isolations imposed by international governments resulted in the shutdown of manufacturing and extrusion plants of HDPE. The less availability of labourers during the pandemic period also resulted in the shutdown of HDPE extrusion units leading to the downfall of the global high-density polyethene extrusion market.
Rising demand in the food and packaging industry
The wide application of HDPE in the food and packaging industry is one of the significant factors contributing to the market growth of the global HDPE extrusion market. Because of its low moisture absorption and chemical and corrosion resistance, HDPE is widely used in several industries. Due to expanding urbanization, increased sales of smart devices, surging internet penetration, and the growing e-commerce sector, HDPE is widely used in the packaging business worldwide. Furthermore, due to its expanding use in the production of diverse items, including bottle caps, food storage containers, and bags, HDPE employment in the food and beverage sector is increasing. This, combined with expanding on-the-go food consumption, an increase in the number of online food delivery platforms, and HDPE's certification as a food-grade polymer, is boosting the market growth of HDPE in the global market. The rising demand for HDPE is also fuelling the market growth of HDPE extrusion in the global market.
The drastic developments in the construction field
The expanding construction activities and rapid urbanization around the world are driving the global market for high-density polyethylene extrusion. The worldwide volume of construction is predicted to expand by 85 percent by 2030, according to Global Construction Perspectives and Oxford Economics. This expansion would be fuelled in particular by countries like India, the United States, and China, which are anticipated to account for roughly 57 percent of the overall market value. Compared to China, the construction industry in the United States is predicted to grow at a faster rate. The expanding building industry is predicted to drive up demand for HDPE pipes by a factor of ten. HDPE pipes are steadily replacing pipes made of traditional materials such as steel and concrete, among others, due to their ease of installation, reduced cost, and superior performance. The rising demand for HDPE material in different industries and the wide applications of HDPE in different sectors are fuelling the market growth of the HDPE extrusion market.
Asia Pacific region expected to hold a major market share
Geographically, the Asia Pacific region is showing drastic growth in the market share of the high-density polyethylene extrusion (HDPE) market. The quickly rising packaging and construction industries, as well as the region's already high and ever-growing population, have contributed to market expansion. Furthermore, the Asia Pacific region is home to the majority of the world's HDPE manufacturing facilities. The presence of several HDPE extrusion centers in the Asia Pacific region is also contributing to the market growth of HDPE extrusion in the Asia Pacific region.
|Market size value in 2020||US$33.145 billion|
|Market size value in 2027||US$44.445 billion|
|Growth Rate||CAGR of 4.28% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Form, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Chevron Phillips Chemical Company, Dynalab Corp, The Dow Chemical Company, Exxon Mobil Corporation, LyondellBasell Industries N.V., INEOS AG, Saudi Basic Industries Corporation (SABIC), SINOPEC Beijing Yanshan Company, PetroChina Company Ltd., Braskem, Reliance Industries Ltd., Formosa Plastics Corporation, Daelim Industrial Co. Ltd, Prime Polymer Co. Ltd, Mitsui Chemicals Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the high-density polyethene extrusion (HDPE) market size by 2027?
A1. The high-density polyethene extrusion (HDPE) market is expected to reach a market size of US$44.445 billion by 2027.
Q2. What are the growth prospects for the high-density polyethene extrusion market?
A2. The global high-density polyethene extrusion (HDPE) market is expected to grow at a CAGR of 4.28% during the forecast period.
Q3. What is the size of the global high-density polyethylene extrusion (HDPE) market?
A3. High-Density Polyethylene (HDPE) Extrusion Market was valued at US$33.145 billion in 2020.
Q4. What factors are anticipated to drive the high-density polyethene extrusion market growth?
A4. The application of HDPE in the food packaging industry is one of the major factors contributing to the high-density polyethene extrusion market growth.
Q5. Which region holds the maximum market share in the high-density polyethene extrusion market?
A5. Geographically, the Asia Pacific region is showing drastic growth in the high-density polyethene extrusion (HDPE) market.
Chevron Phillips Chemical Company
The Dow Chemical Company
Exxon Mobil Corporation
LyondellBasell Industries N.V.
Saudi Basic Industries Corporation (SABIC)
SINOPEC Beijing Yanshan Company
PetroChina Company Ltd.
Braskem, Reliance Industries Ltd.
Formosa Plastics Corporation
Daelim Industrial Co. Ltd
Prime Polymer Co. Ltd
Mitsui Chemicals Inc.
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