U.S. HDPE Plastic Pails Market Worth $250.3 Million By 2025

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.

To request a sample copy or view summary of this report, click the link below:
www.grandviewresearch.com/industry-analysis/us-high-density-polyethylene-plastic-pails-market

Further key findings from the report suggest:

• 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