Packaging shall be the most prominent end-user in HDPE Market. It was valued above USD 16 billion during 2015. It is used in industries such as cosmetics and pharmaceuticals. These industries have a significant growth in the near future, contributing to high density polyethylene market.
High Density Polyethylene market size will cross USD 88 billion till 2024 according to a new research report by Global Market Insights, Inc. High density polyethylene (HDPE) is majorly used for packaging in pharmaceutical, food & beverages and cosmetics industries. It has improved mechanical properties and higher strength to density ratio than low density polyethylene. It is used to pack food items such as ready-to-mix, ready-to-cook food. Increasing packed food items market due to ease-of-consumption and its handiness will boost product market.
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High density polyethylene to produce products such as pipes, plumbing and electrical boxes, and telephone ducts. These products are deployed at construction sites in residential, commercial and industrial projects. Infrastructural development in emerging economies such as urban and hydropower transportation, roads & highways, commercial building, shopping malls, shall give a positive outlook for high density polyethylene market.
High density polyethylene is used for agricultural applications in the form of pipes. These pipes are used for irrigation, drainage and water supply. These pipes performance is much better than other material pipes and are also less expensive in terms of installation and material cost. Further, these pipes have limited need for fittings and requires lesser pipe laydown area. HDPE pipes can handle salty water and corrosive conditions and are even corrosion resistant from outside.
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Nowadays, there is an increasing adoption of high density polyethylene bottles in the pharmaceutical industry. Also, pharmaceutical companies and hospitals are giving priority to HDPE bottles as compared to glass bottles. High density polyethylene bottles prevent the inner material from getting exposed to the outer atmosphere and are not as brittle as glass. These bottles are opaque and can withstand a temperature of nearly 110o Celsius. Thus, increasing health concerns among people and growing population augment high density polyethylene market.
The 2015 blow molded HDPE market share was over 25%. Favorable chemical and physical properties of HDPE such as resistance to cracking and stiffness and, capable of withstanding high temperature resistance make it an ideal material for blow molded process. This process is used to manufacture fuel tanks, overflow bottles, duct work, water tanks and recycle bins.
Film & sheet forms of HDPE are likely to exhibit a decent growth rate of 4.5% between 2016 and 2024. These films & sheets are used for notebook covers and harsh chemical environments. It has the advantages of being chemically inert, easily fabricable and affordable. High density polyethylene films are available in wide varieties depending on their clarity, breakability, flexibility and rigidity.
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Asia Pacific has a growth potential in packaged food & beverage market and is witnessing a substantial escalation in construction activities. Booming infrastructural development in China will offer an opportunity for the product market in this region.
The key manufacturers of HDPE are Honam Petrochemical Corporation, Borealis AG, Abu Dhabi Polymers Company Ltd, Chevron Phillips Chemical Co, Formosa Plastics Corp, Braskem S.A., LyondellBasell industries NV and Exxon Mobil Corp.