High Density Polyethylene (HDPE) Market Size

High Density Polyethylene Market Size

High Density Polyethylene Market size was valued over USD 59 billion in 2015 and witness gains of 4% CAGR from 2016 and 2024.

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High density polyethylene abbreviated as HDPE, is a class of polymers produced mainly from petrochemical feedstocks. These thermoplastic polymers possess excellent strength to weight rations hence are widely used in the production of bottles, pipes, processing equipments and others. The global high density polyethylene market is anticipated to show substantial growth during the forecast period. The growing demand for high performance polymers across various industry verticals is set to drive growth throughout the forecast period. HDPE possess excellent properties such as tensile strength, moisture resistance, chemical resistance, and low cost which makes them suitable for various end user industries such as agriculture, building & construction, automotive, packaging and others. The growing construction industry across the globe is set to further boost the overall market during the forecast period.

HDPE is extensively used in telephone ducts, plumbing and electrical boxes, and pipes in the construction industry. The ongoing construction expenditure in the developing regions of Asia Pacific is projected to drive the market during the assessment period. Additionally, the growing demand for HDPE in packing industry is also anticipated to surge the overall HDPE market size during the review period. It widely used in the packaging of food and beverages. The corrosion and moisture resistive property of the product makes them highly desirable for packaging applications. The growing food and beverage industry across the globe coupled with the increasing penetration of on the go food products mainly in the developing regions shall drive the market demand throughout the forecast period. However, fluctuating crude oil prices is anticipated to be a major downside to the growth of the global market. The major raw material used is ethylene, a petrochemical feedstock. Thus, price volatility of crude oil directly impacts the ethylene prices in turn acting as a major restraining factor to the overall market growth.
 

The global HDPE industry is highly diversified with wide presence of manufacturers across the globe. Moreover, the high degree of forward integration can be seen in the overall market mainly between the manufacturers and the end users. Additionally, the raw materials manufacturers in this market are proficient petrochemical producers that possess excellent distribution channels. Some of the major raw material suppliers include ExxonMobil Chemicals, Unipetrol RPA, and PJSC Kazanorgsintez among others.