PUBLISHER: The Business Research Company | PRODUCT CODE: 1435404
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435404
High-density polyethylene (HDPE) is a flexible plastic polymer known for its high density, impact resistance, and chemical resilience, making it a staple in healthcare, laboratory settings, heavy-duty damp-proof membranes, flexible bags, and films.
HDPE comes in product variations such as PE 63, PE 80, and PE 100. PE 63 serves as a medium-pressure piping system utilized in irrigation, drinking water connections, and various applications across oil and gas pipelines, agricultural irrigation, water supply and sewage systems. Industries benefiting from HDPE include packaging, building and construction, agriculture, automotive, and other sectors.
The high-density polyethylene market research report is one of a series of new reports from The Business Research Company that provides high-density polyethylene market statistics, including high-density polyethylene industry global market size, regional shares, competitors with a high-density polyethylene market share, detailed high-density polyethylene market segments, market trends and opportunities, and any further data you may need to thrive in the high-density polyethylene industry. This high-density polyethylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The high-density polyethylene market size has grown rapidly in recent years. It will grow from $102.33 billion in 2023 to $113.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth observed in the historic period can be ascribed to factors such as industrialization and infrastructure expansion, the substitution of traditional materials, heightened demand for consumer packaging, compliance with environmental regulations, and the expansion of the retail sector.
The high-density polyethylene market size is expected to see rapid growth in the next few years. It will grow to $166.4 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. Forecasted growth is driven by the demand for sustainable packaging, infrastructure development in emerging markets, healthcare sector expansion, increasing e-commerce activities, and HDPE utilization in 3D printing. Major trends include advancements in HDPE recycling, production technology improvements, expanded construction applications, embracing circular economy practices, and rising HDPE demand in agriculture.
The high-density polyethylene (PE-HD) market is primarily driven by the unique properties it offers, including being lightweight, impact-resistant, flexible, and capable of withstanding low temperatures. These qualities have led to an increased demand for PE-HD across various end-user industries such as manufacturing, energy, geothermal, marine, mining, landfill, HVAC, gas, oil, and agriculture. HDPE pipes, in particular, are recognized for their environmental sustainability due to being non-toxic, corrosion-resistant, and having a long lifespan. Notably, in the oil and gas sector, companies are exploring plastic pipes, including HDPE, as an alternative for pipeline transportation to reduce operational expenses, given their corrosion resistance, flexibility, and lightweight nature, as reported by the Pipeline & Gas Journal.
The growth of the packaging industry is expected to be a significant driver for the high-density polyethylene market. The packaging industry involves the design, production, and distribution of packaging materials and solutions for containing, protecting, and presenting products to consumers. High-density polyethylene (HDPE) is favored in the packaging industry due to its lightweight nature, cost-effective transportation benefits, and resistance to chemicals and moisture, making it suitable for various products. The expansion of the packaging industry is anticipated to drive the demand for high-density polyethylene. For example, in May 2022, the food processing and packaging machinery industry in Germany, as reported by VDMA (Verband Deutscher Maschinen- und Anlagenbau), a German trade association, generated $16.75 billion (€14.8 billion) in revenue in 2021, reflecting a 7% increase compared to 2020. This growth in the packaging industry is identified as a key driver propelling the high-density polyethylene market forward.
The growth of the High-Density Polyethylene (HDPE) market is facing challenges due to the use of competitive materials, particularly polypropylene (PP). HDPE is characterized by its opaque and translucent nature, while PP is amorphous or crystalline, making it a preferred choice for applications requiring transparent packaging. Polypropylene exhibits exceptional resistance to various chemical solvents, bases, and acids, and it is less brittle than HDPE. PP is also microwavable and dishwasher safe, contributing to its versatility in applications such as food packaging, textiles, laboratory equipment, automotive components, and even in competition with HDPE. The inter-polymer competition between PP and HDPE has a negative impact on the HDPE market. The automotive industry's increasing demand for thermoplastics, driven by the weight reduction trend, is noteworthy. Automakers, such as BMW, are incorporating thermoplastics for the exterior skin of their latest vehicles, exemplified by the I series. This surge in thermoplastic demand significantly contributes to the polypropylene market's growth, influencing the overall dynamics of the industry.
Companies operating in the high-density polyethylene (PE-HD) market are demonstrating a strong commitment to enhancing the sustainability of PE-HD. Significant investments are being made to adopt environmentally safe raw materials, all while adhering to stringent quality and safety standards for their products. For example, Chevron Phillips Chemical, a leading global supplier of polyethylene, including high-density (HDPE), medium-density (MDPE), low-density (LDPE), linear low-density (LLDPE), metallocene, and masterbatches, is actively contributing to this trend. The company serves a diverse range of applications, including pressure pipes, soap and detergent bottles, flexible packaging, coatings and laminations, films, and more.
Major players in the high-density polyethylene market are prioritizing innovation in product development to gain a competitive edge. An illustrative example is TotalEnergies SE, a prominent petroleum business company based in France, which introduced a high-density polyethylene (HDPE) resin named HDPE 20HD07 in June 2023. This specific resin is tailored for tethered cap applications and aims to reduce material usage while enhancing recycling efforts within the industry. The innovative resin not only offers improved mechanical and organoleptic properties but also contributes to a reduced carbon footprint in applications such as beverage and cosmetic bottles. Notably, the resin aligns with circular economy principles by simplifying recycling processes and adhering to environmental standards, showcasing a commitment to sustainability and innovation in the high-density polyethylene market.
In November 2022, Atkore Inc., a U.S.-based electrical products manufacturing company, successfully acquired Elite Polymer Solutions for an undisclosed sum. This strategic acquisition bolstered Atkore's HDPE conduit product portfolio and broadened its national presence. The move positioned Atkore to more effectively meet the increasing demand for underground protection in the electrical, utility, and telecom sectors. Elite Polymer Solutions, the acquired company, is a U.S.-based manufacturer specializing in high-density polyethylene (HDPE) conduits.
Major companies operating in the high-density polyethylene market report are China Petroleum & Chemical Corporation, PetroChina Company Limited, Exxon Mobil Corp., TotalEnergies SE, Reliance Industries Limited, Repsol SA, Dow Inc., Saudi Basic Industries Corporation, LyondellBasell industries NV , LG Chem Ltd., China National Chemical Corporation (ChemChina), Asahi Kasei Corp., National Petrochemical Company (NPC), PTT Global Chemical Public Company Limited, Braskem S.A., Sasol Limited, Lotte Chemical Corporation, Westlake Corporation, Thai Oil Public Company Limited, Chevron Phillips Chemical Co., Indian Oil Corporation Ltd., DuPont de Nemours Inc., Arkema SA, Borealis AG, Formosa Plastics Corp., Tosoh Corporation, INEOS Olefins & Polymers LLC, Abu Dhabi Polymers Company Ltd., Bayport Polymers LLC, Polymers Europe
Asia-Pacific was the largest region in the high-density polyethylene market in 2023. North America was the second-largest region in the global high-density polyethylene market. The regions covered in the high-density polyethylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the high-density polyethylene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The high-density polyethylene (HDPE) market consists of the sales of high-density polyethylene used to produce shampoo bottles, toys, pipe systems, recycling bins, chemical containers, milk jugs, grocery bags, and cereal box liners. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
High-Density Polyethylene Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on high-density polyethylene market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for high-density polyethylene ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The high-density polyethylene market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.