High-Density Polyethylene Market Size, Share, Growth Analysis, By Feedstock(Naphtha, natural gas, others), By Manufacturing(Gas phase, slurry process, solution process, others), By Application(Blow molding, injection molding, pipes, tubes), By End-user(Packaging, transportation, electrical, electronics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2452 |
Region:
Global |
Published Date: February, 2024
Pages:
211
|Tables:
130
|Figures:
77
High-Density Polyethylene Market Insights
High-Density Polyethylene Market size was valued at USD 72.22 billion in 2019 and is poised to grow from USD 75.43 billion in 2023 to USD 111.15 billion by 2031, growing at a CAGR of 4.45% in the forecast period (2024-2031).
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.
Market Snapshot - 2024-2031
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High-Density Polyethylene Market Segmental Analysis
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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High-Density Polyethylene Market Regional Insights
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 Dynamics
High-Density Polyethylene Market Driver
Growing Use of High-Density Polyethylene for Rigid and Flexible Packaging
- The rising demand for high-density polyethylene resin for packaging fuels growth, as these resins are widely employed in both rigid and flexible packaging. As the HDPE recycling ecosystem grows, prohibition on single-use plastics could benefit producers. This is projected to rise more if limitations are implemented. Handbags, packaging, rubbish bags, and industrial linings are among the applications for high-density polyethylene sheets and films. HDPE resin is also used to make hard packaging solutions, such as boxes, packing containers, and tanks. Increased online shopping, internet, and food delivery service usage, particularly in emerging nations has resulted in an exponential growth in demand for packaging raw materials, with high density polyethylene being one of the most prominent.
High-Density Polyethylene Market Restraints
Presence of alternatives
- The high presence of growth-inhibiting alternatives such as high-density polyethylene, as PET is one of the strongest alternatives to high-density polyethylene resin. PET is mostly utilised in water bottles, beverage bottles, food containers, and other similar applications.
Recycled plastic bottles represent a well-established market. It is also one of the most often recycled plastics. The technological development to increase product purity and lower operational costs is one of the primary drivers driving the expansion of bottle recycling.
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High-Density Polyethylene Market Competitive Landscape
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
- LyondellBasell Industries Holdings B.V.
- ExxonMobil Corporation
- Dow Chemical Company
- SABIC
- Ineos Group AG
- Chevron Phillips Chemical Company LLC
- Borealis AG
- Braskem S.A.
- Reliance Industries Limited
- Formosa Plastics Corporation
- Total S.A.
- Mitsui Chemicals, Inc.
- Westlake Chemical Corporation
- Nova Chemicals Corporation
- Lotte Chemical Corporation
- Sinopec Limited
- Basell Polyolefine GmbH
- Thai Polyethylene Co., Ltd.
- China National Chemical Corporation
- Haldia Petrochemicals Limited
High-Density Polyethylene Market Recent Developments
- Since 2022, Salada has undertaken several initiatives to reduce carbon footprint as the company recently joined the Recycles Partners of Jamaica (RPJ) network of businesses which collects plastic bottles made from polyethylene terephthalate (PET) and high-density polyethylene (HDPE), both of which are derived from petroleum and whose appeal for manufacturers lies in the fact that they can easily be shaped into bottles and containers for packaging foods and beverages, personal-care products, and many other consumer products.
Gujarat based Payal Irrigation Pvt Ltd constructed India's largest plant for the manufacturing of agricultural and irrigation plastic products in 2022.
High-Density Polyethylene Key Market Trends
- Demand for lightweight automobiles: The high-density polyethylene market largely witnessed an increased demand for lightweight automobiles as a result of policy updates and reforms in automotive industry. As a result, increased usage of lightweight materials for safety and fuel economy is likely to benefit the sector throughout the projection period. High-density polyethylene pipe has numerous features, including high strength, high internal pressure to handle external loads, water resistance, and resistance to water hammer pressure. It also provides enhanced performance in tough soils, as well as decreased maintenance and operating expenses.
- Growing need for HDPE pipes and hoses: Many projects in the medium to large market are now using HDPE pipes and hoses. In addition, contemporary HDPE multi-layer pipes are used in hydraulic engineering projects as well as some new construction projects. This might be a new market opportunity since it saves money on expensive bedding materials while also delivering improved reliability and durability, which will significantly boost the market over the forecast period. Because of all of these factors, the global market for high density polyethylene in the plumbing industry is expected to grow throughout the projected period.
High-Density Polyethylene Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
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.
| Report Metric | Details |
|---|---|
| Forecast period | 2024-2031 |
| Segments covered |
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| Regions covered | 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) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on High-Density Polyethylene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on High-Density Polyethylene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 High-Density Polyethylene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the High-Density Polyethylene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the High-Density Polyethylene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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