Global HDPE market projected to reach US$81.8 bln by 2024, at a CAGR of 3.8%

03-Jul-19

The global high density polyethylene (HDPE) market reached a value of US$65.4 bln in 2018. The market value is further projected to reach US$81.8 bln by 2024, exhibiting a CAGR of 3.8% during 2019-2024, as per Research and Markets.

HDPE finds use in numerous applications and Industries where strong impact resistance, excellent tensile strength, low moisture absorption, and chemical and corrosion resistance characteristics are required. On account of these properties it is popularly used for manufacturing sanitary pipes as it has a tough chemical structure and is conveniently malleable. It has also gained popularity across the packaging industry as it is increasingly being used for the production of various products like bottle caps, food storage containers, bags, etc. Moreover, high density polyethylene has also been certified as a food grade polymer as a result of which it also finds applications in the food industry.