North America High-Density Polyethylene (HDPE) Market to Surpass at a Revenue of US$ 32.9 Billion by 2031
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/north-america-high-density-polyethylene-hdpe-market
In the upcoming years, the North America high-density polyethylene (HDPE) market is likely to expand significantly due to rising demand from sectors like packaging, construction, and automotive. Due to its distinctive combination of qualities, HDPE packaging is plastic with numerous packaging applications. For instance, the French-based polymer company TotalEnergies will commercially introduce its new high-density polyethylene (HDPE) resin for tethered cap applications in June 2023.
Government rules aimed at decreasing plastic waste and boosting sustainable practices are also likely to have an impact on the market. The market is also rising due to the improvements in technology and manufacturing methods. For instance, the EPA reiterated its commitment to raising the U.S. recycling rate to 50% by 2030 in its publication of the National Recycling Strategy in November 2021. Additionally, Trash Free Waters is a voluntary program that emphasizes stakeholder participation to help U.S. and foreign communities manage marine trash that is mostly caused by land-based sources.
𝐁𝐥𝐨𝐰 𝐌𝐨𝐥𝐝𝐢𝐧𝐠 𝐓𝐲𝐩𝐞 𝐭𝐨 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝟑𝟔% 𝐨𝐟 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
The blow molding segment is likely to capture more than 36% of total revenue. The growing desire for lightweight and fuel-efficient vehicles drives the bow molding demand in the automotive industry. The demand for HDPE blow molding is also increasing by the rising popularity of electric vehicles, which require lightweight components to increase their efficiency. For instance, in 2022, EVs accounted for 5.6% of all new car registrations in the United States. It increased from 1.8% in 2020 and 3.1% in 2021.
𝐏𝐚𝐜𝐤𝐚𝐠𝐢𝐧𝐠 𝐚𝐧𝐝 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐄𝐧𝐝-𝐔𝐬𝐞𝐫 𝐌𝐚𝐣𝐨𝐫𝐥𝐲 𝐔𝐭𝐢𝐥𝐢𝐳𝐞 𝐇𝐢𝐠𝐡-𝐃𝐞𝐧𝐬𝐢𝐭𝐲 𝐏𝐨𝐥𝐲𝐞𝐭𝐡𝐲𝐥𝐞𝐧𝐞
HDPE is one of the most often used materials in the packaging sector, notably rigid and flexible packaging. In fact, by 2031, it is anticipated that the segment will account for more than 40% of the global High-Density Polyethylene (HDPE) market's revenue. One of the key factors propelling the HDPE packaging market in North America is the rising demand for environmentally friendly packaging. Due to their adaptability and usability in the North American HDPE market, HDPE films are in greater demand. The need for HDPE bags and envelopes for the packaging and transportation of goods is rising along with the popularity of e-commerce and online shopping.
The construction industry contributed over 14% of the market's revenue in 2022. The demand for HDPE is rising due to the comeback of the North American construction market for uses such as geomembranes, pipelines, and fittings. The U.S. economy greatly benefits from the construction industry. In addition, North American construction output increased by 2.4% in 2022. As a result, this will boost demand for pipes, fittings, and other products, which will propel market expansion.
𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐨𝐫𝐬 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝐌𝐨𝐫𝐞 𝐓𝐡𝐚𝐧 𝟔𝟏% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞
Distributor sales have historically dominated the market in North America, accounting for nearly 61% of total material sales. The vast majority of HDPE is sold via distributors, who stand between producers and consumers. Due to the established connections, affordable prices, and thorough customer service, this channel is favored. Diverse HDPE goods are available via distributors, who also frequently offer value-added services, including product suggestions, technical assistance, and logistics management.
𝐔.𝐒. 𝐭𝐨 𝐂𝐚𝐩𝐭𝐮𝐫𝐞 𝟖𝟕% 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐌𝐚𝐫𝐤𝐞𝐭
With an 87% revenue share, the United States dominates the North America market. The U.S. market contributed around US$ 17.93 billion of North America's US$ 20.61 billion total market value in 2022. The country's sizable and varied economy, rising demand across end-use industries, and a strong commitment to sustainability programs are the main drivers of this sizeable share.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/north-america-high-density-polyethylene-hdpe-market
Around 30% of HDPE materials are recycled in the US, and demand for recycled HDPE products is on the rise. Around 29.3% of HDPE containers and packaging were recycled in 2018, demonstrating the nation's dedication to environmental protection and sustainability. In 2020, the US market for high-density polyethylene (HDPE) imported about 3.3 billion pounds while exporting roughly 2.7 billion pounds. This demonstrates that in-country demand for HDPE materials is high in the U.S. market.
In order to preserve their market share and benefit from the sector's growth, manufacturers must keep ahead of the curve by emphasizing innovation, cost efficiency, and supply chain management.
𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞
The high-density polyethylene market is highly competitive. According to Astute Analytica insights, Dow, Exxon Mobil Corporation, INEOS, SABIC, and LyondellBasell Industries Holdings BV are the leading players in the market. Many local, regional, and international vendors can be found in the global High-Density Polyethylene (HDPE) market.
By making R&D investments, incorporating cutting-edge technology into their products, and releasing updated items for the market, the players continue to dominate the market. A variety of tactics are used, including signing agreements, mergers, and collaborations.
DOW is an international chemical corporation with an American base. Its parent company is Dow Inc., and its well-known international subsidiaries include Dow Corning, Rohm, and Haas. They specialize in the creation of innovative, chemical, scientific, and environmentally friendly packaging and infrastructural solutions. They produce polyethylene and polyurethane.
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
• Chevron Phillips Chemical Company
• Dynaflex Pipe Technologies
• Dynalab Corp.
• Exxon Mobil Corporation
• Formosa Plastics Corporation
• Hy-Pro Plastics Inc.
• INEOS AG
• LyondellBasell Industries N.V.
• Mitsui Chemicals Inc.
• Omni Plastic Manufacturing Ltd
• PetroChina Company Ltd.
• Prime Polymer Co. Ltd.
• Reliance Industries Ltd.
• SINOPEC Beijing Yanshan Company
• The Dow Chemical Company
• Other Prominent Players
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐇𝐢𝐠𝐡-𝐃𝐞𝐧𝐬𝐢𝐭𝐲 𝐏𝐨𝐥𝐲𝐞𝐭𝐡𝐲𝐥𝐞𝐧𝐞 (𝐇𝐃𝐏𝐄) 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐓𝐲𝐩𝐞, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥, 𝐚𝐧𝐝 𝐂𝐨𝐮𝐧𝐭𝐫𝐲.
𝐁𝐲 𝐓𝐲𝐩𝐞
• Blow Molding
• Injection Molding
• Films & Sheets
• Pipe & Fittings
𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
• Packaging
• Electrical and Electronics
• Building and Construction
• Agriculture
• Industry and Machinery
• Automotive
• Fibers & Textiles
• Wires & Cables
• Others
𝐁𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥
• Direct
• Distributor
• Online
𝐁𝐲 𝐂𝐨𝐮𝐧𝐭𝐫𝐲
• The USA
• Canada
• Mexico
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/north-america-high-density-polyethylene-hdpe-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
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