The global High-density Polyethylene (HDPE) Market size is expected to reach USD 111.85 Billion in 2030 and register a steady revenue CAGR of 4.6% over the forecast period, according to the latest report by Reports and Data. Rising demand for lightweight vehicles because of stringent emission policies is a major factor driving market revenue growth. HDPE is used to manufacture automotive parts such as bumpers, interior linings, seats, trims, storage inner compartments, batteries, and different kinds of tanks.
In addition, rising demand for HDPE in the packaging industry is expected to drive revenue growth of the market. HDPE is used in packaging of Food & Beverages (F&B) due to its moisture and corrosive resistive properties, which makes them appropriate for packaging applications. Moreover, growth of the food & beverage industry across the globe coupled with rising penetration of on-the-go food products, particularly, in developing countries is expected to drive market revenue growth during the forecast period.
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Top Lading Players: Ineos, LyondellBasell Industries Holdings B.V., Exxon Mobil Corporation, Dow Inc., PetroChina Company Ltd., Braskem, Farmosa Plastics Corporation, Reliance Industries Limited, Borealis AG, and Chevron Phillips Chemical Company LLC.
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Segments covered in the report:
Technology Outlook (Revenue, USD Billion; 2019–2030)
Application Outlook (Revenue, USD Billion; 2019–2030)
End-use Outlook (Revenue, USD Billion; 2019–2030)
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Regional Outlook:
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The post High-Density Polyethylene (HDPE) Market Size to Reach USD 111.85 Billion at a CAGR of 4.6% by 2030 | Reports and Data appeared first on Market O Graphics.