Global High Density Polyethylene market expanding at 4.5% CAGR from 2015 to 2023

High Density Polyethylene Market was valued at US$ 56.13 bln in 2014 and is likely to reach US$ 84.79 bln in 2023, expanding at a CAGR of 4.5% between 2015 and 2023, as per Transparency Market Research. The volume of high density polyethylene production amounted to 39,254.6 kilo tons in 2014. Of all the products of polyethylene, high density polyethylene is one of the most consumed globally. It is used across a large number of end-use industries for several applications. Presently, growth of the plastic packaging, pipes, and agricultural films industries is primarily driving the high density polyethylene market. In addition, the burgeoning construction sector also exhibits substantial demand for high density polyethylene for blow molding and other applications. These factors are favorable for boosting the growth of the high density polyethylene market. However, low availability and price volatility of raw materials are the key challenges faced by market players detrimental to the market’s growth. Product, application, and region are the criteria based on which the high density polyethylene market is studied in this report. Blow molding, film and sheet, pipe and extrusion, injection molding, and others (rotomolding etc.) are the product segments of the market. In 2014, blow molding was ahead of all other product segments and accounted for more than 25% of the global market. This product segment is estimated to display steep growth during the forecast period mainly due to the suitability of blow molded products for rigid packaging solutions. In matters of the geographical breakdown of the global market, Asia Pacific held more than 40% of the global market in 2014. This regional segment was followed by Europe and North America. During the forecast period, Asia Pacific will emerge as the fastest growing region for the production and consumption of these products. Robust economic development and an upsurge in agricultural activities are the major reasons for development of the Asia Pacific high density polyethylene market. In this region, with increasing purchasing power in China and India, growing inclination for decorative packaging made out of newer materials is bolstering the use of polyethylene products. This has encouraged product manufacturers to establish production units in the region. In 2014, the Middle East and Africa region also exhibited high demand for polyethylene products. In the 2015-2023 period, the Middle East and Africa region will register volume growth at a CAGR of more than 4%. Top players in the global market for high density polyethylene are Chevron Phillips Chemical Company, LyondellBasell Industries N.V., Huntsman Corporation, Exxon Mobil Corporation, The Dow Chemical Company, INEOS Olefins and Polymers, and Mitsui Chemicals Inc. In the report, each of the companies is profiled in detail for attributes of company overview, business strategies, recent developments, financial overview, and SWOT analysis.