HDPE Large Blow Molded Products Market: Introduction

The global HDPE large blow molded products market was valued at US$ 2.5 Bn in 2019 and is anticipated to expand at a CAGR of 4.5% during the forecast period. The global HDPE large blow molded products market is driven by increase in the demand for HDPE large blow molded products in the global chemical & petrochemicals industry. Asia Pacific accounts for a major share of the global HDPE large blow molded products market, owing to high demand for HDPE large blow molded products among chemical manufacturers.

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 Key Drivers of HDPE Large Blow Molded Products Market

Growth of the global specialty chemicals industry is a key factor driving the demand for industrial packaging products. Safe delivery of packaged materials is of key importance. Thus, packaging plays a vital role in the delivery of specialty chemicals, considering the reactive and toxic nature of a majority of these chemicals. HDPE large blow molded products offer better compatibility with materials to be packed due to high chemical inertness of HDPE polymers. Furthermore, high rigidity of HDPE products enables containers with thinner wall designs. Thus, HDPE large blow molded products are widely utilized as containers, including industrial bulk containers and other rigid packaging materials, for specialty and other chemicals.

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HDPE large blow molded products possess advantages over their substitutes in industrial rigid packaging, due to low permeability of HDPE products to a wide range of solvents and excellent crack resistance of HDPE-based blow molded products.

Volatility in Prices of Raw Materials to Hamper HDPE Large Blow Molded Products Market

Increase in competition from geographies other than the Middle East and emergence of alternatives, such as shell gas, have affected the demand–supply scenario of oil and gas products across the globe. Thus, strategies adopted by key players of petrochemicals have created price volatility in derivatives of petrochemicals. Volatility in prices of oil and gas affects the production of petrochemicals. This, in turn, leads to fluctuation in prices of polyethylene derivatives such as HDPE, LDPE, and LLDPE. Thus, these factors hamper the global HDPE large blow molded products market.

Asia Pacific Dominates HDPE Large Blow Molded Products Market

Based on region, the global HDPE large blow molded products market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of both volume and value, Asia Pacific dominated the global HDPE large blow molded products market in 2019. Increase in the demand for chemicals in the region is driving the HDPE large blow molded products market in Asia Pacific. China and Japan hold a major share of the market in the region, owing to promising presence of chemical manufacturers in these countries. Key players prefer investing in Asia Pacific, as the region witnesses presence of a large number of chemical manufacturers and abundant availability of labor.  North America is another significant consumer of HDPE large blow molded products, with the presence of a large number of players and manufacturing facilities in the region.

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Growth of the specialty chemicals industry, primarily in Asia Pacific, is a key factor driving the global HDPE large blow molded products market. Rise in investments in infrastructure development by private and public sectors and high demand for chemicals, paints, pigments, food, beverages, petroleum products, industrial coatings, agricultural products, pharmaceuticals, minerals, packaging products, automotive products has augmented the demand for specialty chemicals, primarily in Asia Pacific.

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