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The global high-density polyethylene (HDPE) resins market size is projected to reach USD 68,297 Million by 2027. It is set to gain momentum from the increasing replacement of pipes made out of steel, copper, and concrete with plastic. This is happening because of the latter’s possession of several beneficial properties, such as good performance, easy installation, and lower cost. Fortune Business Insights™ presented this information in a new report, titled, “High-Density Polyethylene (HDPE) Resins Market Size, Share & COVID-19 Impact Analysis, By Application (Film & Sheet, Injection Molding, Blow Molding, Pipe & Profile, Wire & Cables and Others), By End-use Industry (Packaging, Agriculture, Building & Construction, Automotive and Others), and Regional Forecast, 2020-2027.” The report further states that the market stood at USD 52,389 Million in 2019. But, it is set to exhibit a CAGR of 4.96% during the forecast period between 2020 to 2027.
Reliance Industries Limited Uses UNIPOL™ PE Process in its Polyethylene Plant
In July 2019, Reliance Industries Limited (RIL), a multinational conglomerate company headquartered in India, declared that it achieved design capacity in its polyethylene plant. This was gained by utilizing UNIPOL™ PE Process, an innovative technology delivered by Univation Technologies. The new plant is situated in Jamnagar and it produces linear low-density polyethylene (LLDPE), metallocene, unimodal HDPE, and many more materials.
As per one of the officials of Univation, “We are very pleased with this close working relationship between the teams of Reliance and Univation. We are looking forward to supporting the HDPE resins business of Reliance in future.”
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Rising Penetration of E-commerce Platforms to Aid Growth
HDPE resins are extensively used in the packaging industry across the globe on account of the increasing penetration of food delivery services, internet, and e-commerce platforms. In the food & beverages industry, high-density polyethylene resins are experiencing high demand because of their ability to prevent spoilage and extend the shelf lives of various food products. However, the COVID-19 pandemic is creating disruptions in the supply chain. Also, the complete lockdown measures in numerous cities have caused a shortage of manpower. These factors may hinder the HDPE resins market growth in the near future.
Key Companies Engage in Merger & Acquisition to Strengthen Their Positions
The major companies present in the market are mainly located in Europe. They are persistently engaging in the strategy of merger & acquisition to strengthen their positions. Some of them are also trying to establish robust distribution networks, geographic footprint, and product portfolios.
Fortune Business Insights™ provides the list of all the renowned manufacturers operating in the global market. They are as follows:
A Significant Industry Development-
Further Report Findings-
The global market can be segmented in the following way:
Value (USD Million) and Volume (Kilotons)
Application, End-use and Geography
By End-use Industry