NEW YORK, Feb. 15, 2023 /PRNewswire/ -- Major players in the high-density polyethylene market are Asahi Kasei Corp., Braskem S.A, Chevron Phillips Chemical Co, Dow Chemical Co, Exxon Mobil Corp, Formosa Plastics Corp, LyondellBasell industries NV, Borealis AG, PetroChina Company Limited, and Abu Dhabi Polymers Company Ltd.

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The global high-density polyethylene market will grow from $91.73 billion in 2022 to $100.99 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The high-density polyethylene market is expected to grow from $145.5 billion in 2027 at a CAGR of 9.6%.

The high-density polyethylene (HDPE) market consists of the sales of high-density polyethylene used for the production of 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.

High-density polyethylene is a plastic polymer with flexible properties.HDPE has high density and is resistant to impact and chemicals, hence it is widely used in healthcare and laboratory environments.

HDPE is also used in heavy-duty damp-proof membranes, flexible bags, and films.

Asia Pacific was the largest region in the high-density polyethylene market in 2022.North America was the second-largest region in the 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, and Africa.

The product types of high-density polyethylene are PE 63, PE 80, and PE 100.PE 63 is a medium-pressure piping system, irrigation system, and drinking water connection.

The applications are oil and gas pipelines, agricultural irrigation pipes, water supply pipes, sewage system pipes, and other applications. The end-use industries are packaging, building and construction, agriculture, automobiles, and other end-use industries.

The unique set of properties of PE-HD (high-density polyethylene), such as lightweight, impact resistance, flexibility, and the ability to resist low temperatures, serve as the most important market drivers.These properties have increased demand for PE-HD in end-user industries such as manufacturing, energy, geothermal, marine, mining, landfill, HVAC, gas, oil, mining, and agricultural industries.

HDPE pipe is environmentally sustainable because it is non-toxic, corrosion and chemical resistant and has a long lifespan. According to the Pipeline & Gas Journal, a large number of oil and gas companies are exploring plastic pipes as an alternative for pipeline transportation to reduce operational expenses as they are corrosion-resistant, flexible, and lightweight.

The use of competitive materials such as polypropylene (PP) is threatening the growth of the HDPE market.HDPE is opaque and translucent in nature, whereas PP is amorphous or crystalline in nature and is preferred in cases where transparent packaging is required.

Polypropylene is unusually resistant to many chemical solvents, bases, and acids.It is much less brittle than HDPE.

PP is also microwavable and dishwasher safe.Owing to its lighter nature, PP is now used in a wide variety of applications, including food packaging, textiles, laboratory equipment, automotive components, and HDPE.

Thus, the market for HDPE is negatively impacted by this inter-polymer competition between PP and HDPE. The demand for thermoplastics from the automotive industry can be attributed to the weight reduction revolution. For instance, BMW is using thermoplastics for the exterior skin of their newest vehicles, such as the I series. The rising demand for thermoplastic materials increased the demand for the polypropylene market, thereby driving the market.

Companies involved in the high-density polyethylene (PE-HD) market are investing heavily to increase the sustainability of PE-HD.Companies are making efforts to use environmentally safe raw materials while maintaining the quality and safety standards of their products.

Following the trend, for instance, Chevron Phillips Chemical is one of the top suppliers of polyethylene in the world. It provides high-density (HDPE), medium-density (MDPE), low-density (LDPE), linear low-density (LLDPE), metallocene, and masterbatches for a broad range of applications, including pressure pipes, soap and detergent bottles, flexible packaging, coatings and laminations, films, and more.

In 2020, CPChem Co. LP (CPChem), a joint venture of Chevron Corp. and Phillips, offered to buy Nova Chemicals for $15 billion. The deal would enable CPChem Co. LP group to increase its ethylene reach, making it the third-largest polyethylene producer in North America and expanding its market reach. Nova Chemicals, headquartered in Canada, is a plastics and chemicals company.

The countries covered in the high-density polyethylene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The high-density polyethylene market research report is one of a series of new reports 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.

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