The U.S. high density polyethylene plastic pails market size is projected to reach USD 250.3 million by 2025, registering a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. Industrial development in U.S. has had favorable impacts on the growth. Ascending demand from the construction industry is one of the key factors bolstering the demand for High Density Polyethylene (HDPE) plastic pails in U.S. The rise in construction spending has had a favorable impact on the industry by augmenting the demand for pails across various industries, including paints and coatings, chemicals and petrochemicals, and adhesives, among others.
Paint packaging is another major industry driving the growth of the HDPE plastic pails. The market is also driven by the increasing popularity of environmentally friendly paints with low Volatile Organic Compounds (VOCs). This trend has led many a prominent player in the paint industry to introduce a new range of paints, thereby necessitating the employment of paint packaging containers, such as HDPE pails. In essence, the demand for HDPE pails is principally driven by increasing construction and industrial spending in U.S.
The polymers industry in U.S. is also expected to have significant impacts on the future growth of the HDPE plastic pails market. With the significant growth in demand for polymers from major industries such as marine, aerospace, industrial equipment, package printing, and concrete, the demand for HDPE plastic pails in polymers, resins, and adhesives segment is expected to expand at a healthy CAGR of 4.2% during the forecast period.
Southeast region accounted for the largest market share in terms of revenue in 2018, driven by various manufacturing trends, most notably in the field of advanced manufacturing in the aerospace and automotive sectors. Local and state governments in Southeast U.S. have been incentivizing manufacturing operations in the region to attract more manufacturing companies to set up their production facilities.
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Key Takeaways Of The Report :
The small-sized pails product segment accounted for the largest market share of over 78% in terms of revenue in 2018. The growth is supported by the growing demand for portability, portion control, and convenience
Medium-sized pails are preferred over smaller sizes to accommodate a greater quantity of liquids or other materials, with a majority of its demand arising from industrial and construction applications
The polymers, resins, and adhesives segment accounted for the largest revenue share of over 33% in 2018, and is expected to continue its dominance over the forecast period
Increasing demand for HDPE pails in the paints and coatings segment is attributable to the rising export and import of both industrial and architectural products (paints and coatings) in U.S.
Large totes and drums are being increasingly substituted by HDPE pails (most notably five gallon pails) as they are relatively easier to use and manage
The significant increase in construction spending in U.S., coupled with the rising demand from paint packaging applications, is expected to have a positive impact on the U.S. HDPE plastic pails market growth over the forecast period
To offset the competition prevailing in the market, key players have established agreements with end users. This trend is expected to sustain throughout the forecast period given the high number of HDPE plastic pail manufacturers in the country
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Grand View Research has segmented the U.S. HDPE plastic pails market on the basis of size, end use, and region:
U.S. HDPE Plastic Pails Size Outlook (Revenue, USD Million, 2014 – 2025)
U.S. HDPE Plastic Pails End Use Outlook (Revenue, USD Million, 2014 – 2025)
Paints & Coatings
Polymers, Resins & Adhesives
Petroleum & Lubricants
U.S. HDPE Plastic Pails Regional Outlook (Revenue, USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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