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HDPE Bowls and Cutlery Containers Market is forecasted to expand at a CAGR of 5.3% by the end of 2026
HDPE Bowls and Cutlery Containers Market
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The core end-use industries targeted by manufacturers are the beverage industry and the chemical and petrochemicals industry. Both industries are projected to collectively hold approximately half of the global market share during the forecast period. HDPE containers are widely used in the beverage industry for the packaging of beverages in bottles. Germany and China are expected to be the key manufacturing countries in the HDPE blow molding and injection molding container market. The leading players operating in the global HDPE blow molding and injection molding container market are Greif, Inc., Mauser Group B.V., SCHÜTZ GmbH & Co. KGaA, Time Technoplast Ltd., Duplas Al Sharq LLC, Mold Tek Packaging Ltd., and Takween Advanced Industries, among others.
According to the report, the global HDPE blow molding and injection molding container market is anticipated to witness a CAGR of 5.3% from 2018 to 2026. The global HDPE blow molding and injection molding container market was worth US$ 36,438.3 Mn in 2017 and is forecasted to be valued at US$ 57,600.7 Mn by 2026 end.
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Growing Consumer Convenience to Trigger High Product Demand
The global packaging industry has experienced noteworthy alteration in the last couple of decades. HDPE containers provide substantial lightweight advantages over containers made from other plastics. Moreover, HDPE containers are rigid and tough, and protect the content from chemicals and ultraviolet rays. HDPE is also less prone to puncture than its counterpart LDPE. The property of being lightweight yet with an ability to provide high strength is what ensures a higher preference for HDPE containers in the global market.
For instance, a lightweight HDPE container weighing around 2 ounces has the ability to handle the weight of 1 gallon of the product stored. The aforesaid properties provide HDPE with significant edge over other plastics in terms of consumer and market acceptance. To add to this, being strong and lightweight at the same time also contributes to a more sustainable packaging solution, which holds as much importance as the associated consumer convenience. The high sustainability factor is also anticipated to contribute considerably to the growth of the global HDPE injection molding and blow molding container market.
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Barriers to Market Revenue Growth
HDPE - though more rigid than LDPE - has a poor gas barrier. There are certain reasons due to which HDPE might not be preferred for packaging. HDPE material is a low surface energy plastic, which makes it hard to bond. The surface either has to be treated with plasma, or a special adhesive has to be used, and these have to be procured as extra material. Due to high density, the structure of HDPE is more linear and therefore is crystalline. In addition, HDPE is flammable, can under stress, and has poor weathering resistance. The global market is also highly influenced by oil prices, which have an uncertain fluctuation curve. These factors are likely to restrict revenue growth of the global HDPE blow molding and injection molding container market.
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