Press Release

Global High-Density Polyethylene Market to Grow at a CAGR of around 5% Through 2026

The Global High-Density Polyethylene Market is expected to grow at a CAGR of around 5% in the forecast period of 2021-26, says MarkNtel Advisors in their research report. High-density polyethylene (HDPE) possesses excellent properties, such as moisture resistance, tensile strength, chemical resistance. These properties make it suitable for various end-user industries, including building & construction, electrical & electronics, etc.

For instance, storage boxes or drums made from HDPE can hold hazardous waste for a long time. Additionally, Food-grade HDPE storage boxes are safe enough to store edible & other consumable goods before they arrive at the market. Hence, owing to these properties, its demand is significantly increasing across the packaging industries of countries like India & China.

Moreover, the launch of new products like HE1355, a high-density polyethylene (HDPE) grade free of Azodicarbonamide (ADCA) launched globally & commercially by Borealis in 2019, also encourages the market growth. HE1355 is the world’s first chemically foamed, ADCA-free material proposed for the production of telecommunications cables.

Besides, the demand for HDPE in the automotive industry for fuel storage market growth is another crucial aspect projected to drive the market in the forecast years, further states the research report, "Global High-Density Polyethylene Market Analysis, 2021."

Packaging Industry to Acquire the Largest Share of Global High-Density Polyethylene Market

Based on the End-User, the Global High-Density Polyethylene Market segments into:

• Packaging
• Transportation
• Electrical & Electronics
• Building & Construction
• Agriculture
• Industry & Machinery
• Others (Pharmaceuticals, Energy, Irrigation, etc.)

Among these segments, the Packaging industry dominated the market, and its dominance is also likely to be followed during 2021-26. 

HDPE plastic is used commonly in many packaging products, such as milk & shampoo bottles, ice cream containers, freezer bags, etc. The surging demand for frozen food, increasing consumption of household goods, and mounting requirements for pharma products are the prime factors strongly contributing to the HDPE market growth across the packaging industry in both developed & emerging countries.

The COVID-19 pandemic resulted in stay-at-home orders across many countries to curb the virus spread, which, in turn, led to significant propulsion in digital engagement & online grocery shopping. In the US, online penetration in this segment has increased dramatically. Hence, an increase in online shopping highly encourages the use of packaging, which shall further boost the market growth in the coming years, reveals MarkNtel Advisors in their research report, "Global High-Density Polyethylene Market Analysis, 2021."

The Global High-Density Polyethylene Market is expected to grow at a CAGR of around 5% in the forecast period of 2021-26, says MarkNtel Advisors in their research report. High-density polyethylene (HDPE) possesses excellent properties, such as moisture resistance, tensile strength, chemical resistance. These properties make it suitable for various end-user industries, including building & construction, electrical & electronics, etc.

For instance, storage boxes or drums made from HDPE can hold hazardous waste for a long time. Additionally, Food-grade HDPE storage boxes are safe enough to store edible & other consumable goods before they arrive at the market. Hence, owing to these properties, its demand is significantly increasing across the packaging industries of countries like India & China.

Moreover, the launch of new products like HE1355, a high-density polyethylene (HDPE) grade free of Azodicarbonamide (ADCA) launched globally & commercially by Borealis in 2019, also encourages the market growth. HE1355 is the world’s first chemically foamed, ADCA-free material proposed for the production of telecommunications cables.

Besides, the demand for HDPE in the automotive industry for fuel storage market growth is another crucial aspect projected to drive the market in the forecast years, further states the research report, "Global High-Density Polyethylene Market Analysis, 2021."

Packaging Industry to Acquire the Largest Share of Global High-Density Polyethylene Market

Based on the End-User, the Global High-Density Polyethylene Market segments into:

• Packaging
• Transportation
• Electrical & Electronics
• Building & Construction
• Agriculture
• Industry & Machinery
• Others (Pharmaceuticals, Energy, Irrigation, etc.)

Among these segments, the Packaging industry dominated the market, and its dominance is also likely to be followed during 2021-26. 

HDPE plastic is used commonly in many packaging products, such as milk & shampoo bottles, ice cream containers, freezer bags, etc. The surging demand for frozen food, increasing consumption of household goods, and mounting requirements for pharma products are the prime factors strongly contributing to the HDPE market growth across the packaging industry in both developed & emerging countries.

The COVID-19 pandemic resulted in stay-at-home orders across many countries to curb the virus spread, which, in turn, led to significant propulsion in digital engagement & online grocery shopping. In the US, online penetration in this segment has increased dramatically. Hence, an increase in online shopping highly encourages the use of packaging, which shall further boost the market growth in the coming years, reveals MarkNtel Advisors in their research report, "Global High-Density Polyethylene Market Analysis, 2021."