The analysts forecast global high-density polyethylene market to grow at a CAGR of 3.63% during the period 2018-2022.The latest trend gaining momentum in the market is the growing demand for HDPE plastic recycling.
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The demand for HDPE recycling is expected to increase due to the rising recycling rate of plastics in various developed countries such as the UK, the US, and Germany. The need to recycle materials will further increase due to the growing concerns about environmental issues and rising demand for environmental sustainability.
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Major key players in the global high-density polyethylene market: Borealis, DowDuPont, ExxonMobil, INEOS, LyondellBasell Industries Holdings, and SABIC.
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According to the high-density polyethylene market report, one of the major drivers for this market is growing demand from the packaging industry. The low cost of high-density polyethylene and easy processing are driving the application of high-density polyethylene (HDPE) in the production of plastic packaging.
The application of HDPE is expected to increase in containers and bottles due to their effective chemical stability and high barrier capacity. Manufacturers prefer unpigmented bottes made from HDPE to package products with shorter shelf life cycle because these bottles are highly translucent and offer stiffness.
The preference for these bottles will continue to increase because they are used to package products including shampoo, juice, cosmetics, water, and milk.
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Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?