Global High Density Polyethylene (HDPE) Market: Overview
High density polyethylene (HDPE) is a largely versatile type of polymer and one of the most popular classes of plastic. From flexible and light films and bags to new construction heavy-duty damp proof membranes, HDPE finds application in a range of sectors. The demand for mineralized water and advancing electrical and electronics industry are envisioned to set the tone for the global HDPE market as these applications make use of the blow molding and injection molding grades respectively. Other grades such as profile extrusion and sheet and film extrusion are prognosticated to attract some demand.
Global High Density Polyethylene (HDPE) Market: Key Trends
In comparison with low density polyethylene (LDPE), HDPE offers better mechanical features and extraordinary strength to density ratio. This has attracted a host of opportunities for the HDPE manufacturers in the food and beverage, pharmaceutical, and personal care industries. The enhanced standard of living of the younger population has augmented the demand for packaged foods and beverages. The fast-moving lifestyle of metro cities has flourished the adoption of ready-to-mix and ready-to-eat packed foods.
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Medicine bottles and other medical packaging materials used in the pharmaceutical industry essentially utilize HDPE, owing to its greater working temperature and opacity. The household goods and fireworks markets are at their peak in China and India. This is envisaged to increase the demand for HDPE since it is used in the preparation of such products.
Global High Density Polyethylene (HDPE) Market: Market Potential
The world HDPE market is expected to possess a strong potential to upgrade itself in the face of challenges while exploiting a massive amount of demand and introducing new grades in the industry.
Making its mark amongst the prominent profile, tubing, and pipe producers in North America, Armtec has made a colossal investment of US$8.0 million for the manufacture of large-diameter HDPE pipes. The pipes will be sold under the name ‘BOSS 3000’ as an improved replacement for conventional municipal storm sewer pipes across Canada. This investment is anticipated to be quite rewarding for the Quebec and Ontario agricultural markets. The company has spent more funds for the purchase of laboratory, testing, and production equipment so as to enhance the pipes with gasket and bell joints to meet the standards of the Canadian Standards Association (CSA).
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Global High Density Polyethylene (HDPE) Market: Regional Outlook
The product segment of the U.S. HDPE market is predicted to gain strength on the back of a wealth of opportunities birthed for producing improvised forms with the help of extensive research and development. The ever-growing infrastructural sector could also boost the growth in the country, especially in regions such as Latin America and North America.
As a result of the thriving telecommunication, electronic, and automobile sectors, there is a blooming acceptance of blow molding technology witnessed in Europe. The employment opportunities generated through the development in these sectors are foretold to boost residential construction projects, thereby contributing to the demand in the Europe HDPE market.
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The HDPE market in Asia Pacific is foreseen to be impacted positively on account of a gradual increase in construction activities. Securing a higher share under its name, Asia Pacific could fuel the demand for HDPE with the rising production of crude oil.
Global High Density Polyethylene (HDPE) Market: Competitive Landscape
The marketing strategy of most players in the world HDPE market is to offer different grades of the product. However, there could be other strategies in place to give voice to their presence in the industry. Some of the top-tier companies prevailing in the global market are Abu Dhabi Polymers Company Ltd., PetroChina Company Limited, Borealis AG, The Dow Chemical Company, and Honam Petrochemical Corporation.
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