COVID-19 Impact On High Density Polyethylene (HDPE) Packaging Market Insights by 2030
HDPE Packaging Market: An Overview
HDPE is the thermoplastic polymer produced from the monomer ethylene. It has a high strength to density ratio which offers corrosion resistance, lightweight, flexibility, durability, and moisture resistance. Due to these properties, the HDPE Packaging market is expected to rise substantially during the forecast period. The increase in disposable income, rise in food & beverage industries, the boom in healthcare & pharmaceutical sector and increase in household & industrial usages, the HDPE Packaging market expected to have a fruitful market in the forecast period. HDPE Packaging market consists of various types of products such as bags & sacks, bottles, pouches which demand has increased due to a rise in e-commerce and retail business which in turn is expected to boost the HDPE Packaging market.
The HDPE material is gaining popularity in construction business and electrical & electronics business as it acts as a shock absorber, moisture resistance and higher strength due to higher intermolecular forces present between the molecules. Thus, in each and every possible end use industry, the HDPE Packaging market prospects a substantial growth during the forecast period.
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HDPE Packaging Market: Dynamics
The factors which drive the HDPE packaging market are an increase in household product demand, ease in transportation & handling, and recent developments in technological advancements that can be used to innovate the design and appearance to attract the customers.
The factors which restrain the HDPE packaging market are chances of contamination of the product, availability of alternatives such as Low Density Polyethylene (LDPE) & Linear Low Density Polyethylene (LLDPE), price fluctuation of raw material and possibilities of side effects to the human body by using products with HDPE packaging material.
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HDPE Packaging Market: Segmentation
The HDPE packaging market is segmented on the basis of the type of packaging, type of products and end use industries.
The HDPE packaging market is segmented on the basis of the type of packaging as
- Flexible
- Rigid
The HDPE packaging market is segmented on the basis of the type of product as
- Bags and sacks
- Bottles
- Crates and containers
- Films
- Vials and ampoules
The HDPE packaging market is segmented on the basis of end use industries as
- Industry Chemicals
- Cosmetics
- Pharmaceutical
- Food and Beverage
- Retail and e-commerce
- Consumer goods
HDPE Packaging Market: Regional Outlook
North America is the largest share contributor in the HDPE Packaging market due to a rise in retail business over the last few years and is expected to dominate on a global scale during the forecast period. Europe followed by North America is the second-largest market in the HDPE Packaging market due to an increase in demand for consumer goods and expected to grow at stagnant rate during the forecast period.
Asia Pacific region is expected to rise at a substantial rate during the forecast period due to the increase in demand for food and beverage products. Latin America, Middle East & Africa are the regions which expected to have moderate growth in the HDPE Packaging market during the forecast period due to an increase in investment and a rise in pharmaceutical and consumer goods.
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HDPE Packaging Market: Key Players
Some of the key players in HDPE packaging market are Amcor Limited, Bemis, Sealed Air Corporation, Parker Plastics, Graham Blowpack Pvt.ltd., Vivek Polymer India, Maynard & Harris Plastics, O. BERK COMPANY, LLC, Alpha Packaging, Kaufman Container, Berry Global Inc., Coveris Management GmbH, Sealed Air Corp., Sonoco Products Co., The Dow Chemical Company, PetroChina Company Limited, Borealis AG, Abu Dhabi Polymers Company Ltd, LyondellBasell Industries NV, Formosa Plastics Corp, Exxon Mobil Corp, Chevron Phillips Chemical Co, Braskem S.A., Asahi Kasei Corp., Braskem S.A., Chevron Phillips Chemical Co., Formosa Plastics Corp., LyondellBasell Industries NV, Constantia Flexibles, Coveris, Daibochi Plastic, DS Smith, Flextrus, Graham Packaging, Greiner Packaging, Huhtamaki, LINPAC, Man Luen, Nampak Plastics, Printpack, Resilux, Rexam and Reynolds Group.
HDPE Packaging Market: Impact of COVID-19
The COVID-19 pandemic outbreak has severely damaged the whole market across the world and so the HDPE Packaging market. Every major country is suffering from the COVID-19 pandemic and due to the production and consumption of needful products, every other market is experiencing all-time low in their growth curve. Many people have decreased due to this pandemic with a major portion in developed countries. The HDPE Packaging market is expected to rise stepwise once the market restarts but might differs in its value as well as volume forecasting.
