High-Density Polyethylene Resins Market to Exhibit 4.96% CAGR; Chevron Phillips Chemical & Qatar Petroleum to Jointly Develop Petrochemical Plant in U.S.

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.”

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/high-density-polyethylene-hdpe-resins-market-103595

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:

• Total S.A. (France)


• Dow Inc. (U.S.)


• ExxonMobil Corporation (U.S.)


• INEOS Group Holdings S.A. (UK)


• SABIC (Saudi Arabia)


• LG Chem (South Korea)


• LyondellBasell Industries N.V. (The Netherlands)


• Eni SpA (Italy)


• Braskem (Brazil)


• Chevron Phillips Chemical Company LLC (U.S.)


• PetroChina Company Limited (China)


• Indian Oil Corporation Ltd (India)


• Reliance Industries Limited (India)


• Formosa Plastics Corporation (Taiwan)


• Others

A Significant Industry Development-

• June 2019: Qatar Petroleum and Chevron Phillips Chemical Company LLC entered into an agreement to jointly construct a petrochemical plant in the U.S. This new project would consist of two 1,000 KTA high-density polyethylene units and a 2,000 KTA ethylene cracker. The project is called the U.S. Gulf Coast II Petrochemical Project (USGC II). Qatar Petroleum would possess 49% of the project, while Chevron would hold 51% share. It would create more than 9,000 construction jobs.

Further Report Findings-

• In 2019, North America procured USD 8,853.88 million revenue backed by the presence of a well-established packaging industry in the region, which, in turn, is creating high demand for HDPE resins from chemicals, food & beverage, and healthcare sectors.


• Asia Pacific is expected to be the fastest growing region throughout the forthcoming years owing to the rising population. Also, the region houses developing packaging, as well as building & construction industries.


• Based on the end-use industry, the packaging segment earned 47.30% in terms of HDPE resins market share in 2019. This growth is attributable to the surging demand for high-density polyethylene resins from the industry because of their high strength-to-density ratio, outstanding chemical resistance, compressive strength, and low temperature.

The global market can be segmented in the following way: