HDPE or High-Density Polyethylene is a thermoplastic polymer (type of polyethylene) with a density above 943.0 Kg/m3. It is marked with the number ‘2’ as a resin identification (ID) code to make it easier for identification during recycling. It is characterized by minimal branching of the polymer chain, which makes it denser & more rigid than Medium Density Polyethylene (MDPE) and Low Density Polyethylene (LDPE). HDPE is usually used in the manufacturing of rigid food & non-food containers, geomembranes, plastic lumber, and corrosion-resistant piping due to its high chemical resistance. It also finds application in bottle caps, carrier bags, and food wrapping material, rails, aeronautics, household items, kitchenware, chemical drums, cable insulation, and vehicles. It is also used in 3D printer filament, geothermal heat transfer piping systems, banners, firework mortars, natural gas distribution piping systems, and microwave telescope windows.
According to study, “Global High Density Polyethylene (HDPE) Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global HDPE market are Exxon Mobil Corporation, Chevron Phillips Chemical Company, Dow Chemical Company, LG Chemical, SABIC, Total SA, GEM Plastics, Lyondellbasell Industries Holdings B.V., Lotte Chemical, INEOS, PetroChina Company Limited, Darbox, Formosa Plastics Corp., CNOOC, Indian Oil Corporation Ltd., Envision Plastics, Braskem, CNPC, Sinopec.
Based on type, HDPEmarket is segmented into film grade HDPE, blowing molding grade HDPE, injection molding grade HDPE and extrusion grade HDPE. Based on feedstock, market is segmented into natural gas, naphtha and others. Based on manufacturing process, market is segmented into slurry process, gas phase process, and solution process.Based on application, market is segmented into pipes & tubes, sheet & film, rigid articles and other applications.Sheet & film dominates the market owing to rise in demand for film and sheet in packaging and agricultural applications. In addition, based on end-user, market is segmented into agriculture, automotive, transportation, building & construction, packaging and others. Automotive and building & construction industries are expected to register considerable growth due to increase in adoption of lightweight material in the latter industries during the forecast period.
The HDPE market is driven by increase inuse of plastic pipes as substituents, followed by rise in construction activities and growth in demand from the packaging industry. However, fluctuating crude oil prices may impact the market. Moreover, rise in use of HDPE products in an array of packaging applications is a key opportunity for market.
Based on geography, the Asian-Pacific region holds major share in HDPE market owing to rapidly increasing demand for personal care and growth in constructional spending in the region. Whereas, the North-American and European regions are estimated to exhibit substantial growth rate due to rise in disposable income, cheap & easy availability of cheaper raw material and increase in use of plastic pipes as substituents over the forecast period. In near future, it is predicted that the market will be reached at quick pace on account of rise in demand for automotive plastics and increase in adoption of plastic materials in the construction industry during the forecast period.
For More Information on the research report, refer to below links:-
Ankur Gupta, Head Marketing & Communications