High-Density Polyethylene Market Size, Share, Growth Analysis, By Feedstock(Naphtha, natural gas), By Manufacturing(Gas phase, slurry process), By Application(Blow molding, injection molding), By End-user(Packaging, transportation) - Industry Forecast 2024-2031

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.