Report ID: SQMIG15E2452 | Region: Global | Published Date: February, 2024 | Pages: 211 | Tables: 130 | Figures: 77
High-Density Polyethylene Market size was valued at USD 72.22 billion in 2021 and is poised to grow from USD 75.43 billion in 2022 to USD 111.15 billion by 2030, growing at a CAGR of 4.45% in the forecast period (2023-2030).
High-density polyethylene is a thermoplastic polymer derived from the ethylene monomer and also termed as Polyethylene high-density (PEHD). When used in HDPE pipe, it is also known as "alcatene" or "polyethylene." It is used to create plastic bottles, corrosion-resistant pipelines, geomembranes, and plastic wood due to its high strength-to-density ratio. Its recycling properties are high end-products are recognized by the resin identification code "2."
Increased demand for beverages and food will drive up demand for blow-molded bottles, which will drive up demand for HDPE. Volatile crude oil raw material costs are expected to have a negative influence on HDPE pricing, limiting market growth over the projection period.
High-density polyethylene (HDPE) is a polyethylene thermoplastic resin derived from naphtha, natural gas, light oil, and other sources. One kilogramme of high-density polyethylene requires around 1.75 kilos of oil (combined energy and raw ingredients). The density of high-density polyethylene ranges from 0.93 g/cm3 to 0.97 g/cm3. The bulk of rigid packaging solutions are made with HDPE as the primary raw material. Furthermore, the fast expansion of the e-commerce business as one of the most convenient methods to purchase has resulted in a significant increase in demand for packaging raw materials, with HDPE being one of the most often utilised.
US High-Density Polyethylene Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global High-Density Polyethylene Market is segmented based on the age feedstock, manufacturing, application, end-user, and region. Based on feedstock, the market is segmented into naphtha, natural gas and others. Based on manufacturing, the market is segmented into gas phase, slurry process, solution process and others. Based on application, the market is segmented into blow molding, injection molding, pipes and tubes, rigid articles, sheets and films, and other applications. Based on End-user, the market is segmented into packaging, automotive, building and construction, agriculture, and other end-user industries. By region, the High-Density Polyethylene Market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
High-Density Polyethylene Market Analysis by End-user
The high-density polyethylene market is being driven largely by increased demand for lightweight automobiles as a result of severe emission laws. As a result, increased usage of lightweight materials for safety and fuel economy is likely to benefit the sector throughout the projection period. In the projection period, the packaging industry is expected to have a high share, driven by increased production of wood and bottles. Because of its low temperature and pressure resistance, superior chemical resistance, and high strength-to-density ratio.
Sacks, containers, and bottles are examples of high-density polyethylene uses. High-density polyethylene is utilised in the construction sector as vapour retarders, window coatings, flooring and counter top protection, and even roofing. High-density polyethylene sheet is used for room sealing, concealment of substances, and lead abatement. There are various versions of the film with unique purpose.
During the projected period, the films & sheets section generated maximum revenues for packaging applications. Films and sheets are commonly utilised in a wide range of packaging applications. The thermal stability, energy resistance to cracking stress, durability, and thickness of high-density polyethylene resin are all outstanding. These are also suitable for a wide range of extrusion film applications, including food, deep-freeze bags, supermarket, and waste bags. One kilogramme of high-density polyethylene requires around 1.75 kilos of oil combined energy and raw ingredients). High-density polyethylene HDPE) pipes are useful for large-scale liquid transmission because they can tolerate high pressures and are resistant to corrosion owing to their thermoplastic nature. HDPE pipes, unlike typical metal pipe fittings, do not rust or corrode.
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Asia Pacific was the largest market for high-density polyethylene owing to the presence of a large packaging sector in this region. According to Global Construction Perspectives and Oxford Economics the global volume of construction is expected to increase by 85% in future. Increment in government spending on infrastructure development in emerging countries including India and China is also expected to boost market growth in the forecast period, estimated to contribute around 57% to the total market value.
In terms of GDP, China holds the largest economy in spite of the volatile growth of real estate sector, China's construction industry has grown significantly in recent years due to the development of railway and road infrastructure by the Chinese government to cope with the expansion of the industrial and service sectors. Increased government spending is boosting the country's industry as state-owned enterprises dominate the construction industry.
Europe was the second-largest market owing to the high demand for high-density polyethylene for film and injection moulding products. Germany is the largest vehicle manufacturing country in the European Union, wherein high-density polyethylene jerry cans are commonly used for packaging. In addition, they can be used for carrying fuels, such as petrol and diesel. France is one of the leading agricultural producers in Europe. Some of the majorly produced agricultural products include cereals, potatoes, sugar beets, and milk among others. France is also one of the leading producers of wine in the world. Thus, established industries and high exporting capacities have bolstered the demand for high-density polyethylene jerrycans in the country.
Low growth is expected in North America due to market saturation in the region. Latin America is expected to witness growth during the forecast period due to emerging end-use industries in the region. Major players in the high-density polyethylene market in the region include Abu Dhabi Polymers Company Limited, Borealis AG, PetroChina Company Limited, Honam Petrochemical Corporation and The Dow Chemical Company.
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High-Density Polyethylene Market Driver
Growing Use of High-Density Polyethylene for Rigid and Flexible Packaging
High-Density Polyethylene Market Restraints
Presence of alternatives
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Global High-Density Polyethylene Market Players are expected to strengthen their position by offering various high-density polyethylene solutions. The major producers of high-density polyethylene resins are located in Europe. The demand is high in Asia Pacific leading to a fragmented market. The producers in North America and Europe are continuously engaging in mergers & acquisitions in order to strengthen their market positions and to drive the business growth. As a result, the key players in the market have developed strong regional presence, distribution channels, and product offerings.
High-Density Polyethylene Market Top Player's Company Profiles
High-Density Polyethylene Market Recent Developments
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According to Global High-Density Polyethylene Market analysis report, the construction sector in China has grown significantly as the central government has emphasised infrastructure investment as a means of sustaining economic development. Because the country has the world's largest industrial economy, its packaging requirements are huge. Furthermore, the country saw substantial expansion in the fast-moving consumer goods (FMCG) business. The domestic middle class consumer's increase in spending on higher quality and healthier items has mostly fuelled the expansion of the FMCG sector. During the projected period, the market is anticipated to benefit from high demand for high-density polyethylene downstream goods and natural dyes in the textile industry.
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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For the Global High-Density Polyethylene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global High-Density Polyethylene Market.
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4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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