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Global Bimodal HDPE Market to Grow at a CAGR of 5.25% by 2030 | ChemAnalyst

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According to ChemAnalyst report, “Global Bimodal HDPE Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global bimodal HDPE market has shown promising growth in the past five years and is anticipated to achieve a CAGR of 5.25% during the forecast period. Growing demand from the end user industries such as gas and water pipelines, detergent bottles and food storage containers is expected to drive the demand of bimodal HDPE for the forecast period. Moreover, the growing demand of biodegradable plastics is expected to hinder demand growth during the forecast period.

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Bimodal HDPE is a type of HDPE which has both amorphous and crystalline regions. As a result, it benefits from the bimodality by having strength and stiffness of HDPE and high stress crack resistance and processability of a unimodal medium density polyethylene. It is basically a mixture of low molecular weight HDPE and High molecular weight HDPE. Bimodal HDPE has several properties including high mechanical strength, durability, chemical resistance, light weight etc. Major applications of bimodal HDPE are bimodal HDPE pipe, bimodal HDPE film, and bimodal HDPE blow molding. The end user industries for bimodal HDPE are gas and water pipelines, detergent bottles, food storage containers, bottle caps, etc.

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Bimodal HDPE is basically a type of polyethylene having both crystalline and amorphous properties. It is a mixture of high molecular weight HDPE and low molecular weight HDPE. In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Detergent and cleaners were among the most affected industries during the pandemic. This had an impact on the demand of bimodal HDPE for the first half of 2020. Therefore, the demand for bimodal HDPE grew during the coronavirus pandemic from the detergents and cleaners bottles segment due to increased awareness about health and hygiene.

Bimodal HDPE is majorly related to ethylene hence the price is directly linked to the fluctuations in the demand of crude oil. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of crude oil rendered a major fall in the global bimodal HDPE, hence the prices remained low for bimodal HDPE during the coronavirus pandemic. Demand has picked up in the recent quarters and is projected to grow due to increasing demand from Asia Pacific and North America.

Regionally, Asia Pacific dominates the Global bimodal HDPE market and holds the largest market share in FY20. Asia’s bimodal HDPE market is anticipated to grow in the economies like China and India.

According to ChemAnalyst report, Global Bimodal HDPE Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global bimodal HDPE market are The Dow Chemical Company, Chevron Phillips Chemical Company, Saudi Basic Industries Corporation (SABIC), Exxon Mobil Corporation, Dynalab Corp., LyondellBasell Industries N.V., INEOS AG, SINOPEC Beijing Yanshan Company, PetroChina Company Ltd., Braskem, Formosa Plastics Corporation, Daelim Industrial Co. Ltd., Prime Polymer Co. Ltd. and Mitsui Chemicals Inc and others.

“Being linked to the packaging industry, the global bimodal HDPE industry has shown a robust growth alongside growing population and changing consumer preference. China serves as the key growth region with sufficiently installed capacities for bimodal HDPE.  With new competitors emerging across the Asia Pacific bimodal HDPE market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries since from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesn’t believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since it’s all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.

ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyse historical data for past years but will also get to analyse short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.

ChemAnalyst is a one stop solution for all the data related needs. We at ChemAnalyst are committed to assist customers worldwide with their data and insights needs using our comprehensive online platform.

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