DUBLIN, May 31, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global High Density Polyethylene (HDPE) Market - By End-Use Industries, Products, and Regions - Market Size, Demand Forecasts, Industry Trends and Updates (2016-2022)" report to their offering.
The global production of HDPE resin was 51.33 MMT in 2016 and is estimated to reach 66.96 MMT by 2022, at a CAGR of 4.53% for the forecasted period. While, on the other hand, in terms of demand the market was USD 63.54 billion in 2016 and would reach USD 88.26 billion by 2022 growing at a rate of 5.63% compounded annually.
High Density Polyethylene, abbreviated as HDPE, is a polyethylene thermoplastic formed by the polymerization of ethylene obtained from oil. Its high strength-to-density ratio makes it used in the production of plastic containers/bottles, corrosion-resistant piping, and others. HDPE is the most preferred one among the polyethylene family.
APAC leads the HDPE market with a share of more than 40% in 2016 followed by Europe and North America. Moreover, APAC is expected to be the fastest growing region both in terms of production and consumption of the resin products due to increase in industrial and agricultural activities in the region. MEA had high demand for HDPE products.
However, the growth rate of HDPE in Europe is expected to decline as a result of closure of manufacturing sites and no capacity increases in the region.
HDPE is mostly used in production of films, which include packaging of films, sacks, bags, and others. Rigid packaging is also one of the prominent end use applications which had a market share of 26.4% in 2016. Other applications include products for construction industry such as pipes, tubes, cables.
However, pipe segment is expected to witness the strongest growth during the forecasted period, owing to demand from the construction industry in emerging markets like China.
The demand for HDPE is mainly driven by growth in plastic packaging, and agriculture films & pipes industries, growth in construction activities. Artificial knee caps as substitute to ultra -high molecular weight high density polyethylene (UHMWHDPE) would be the future trend for HDPE market.
On the other hand, limitations related to supply of HDPE and fluctuations in prices of raw materials pose a challenge to the players in the market.
Capacity expansions of the companies and acquisitions are the current key strategies in the market. Manufacturing companies along with associations are bringing in huge investments for future advancements in technology along with modifications in HDPE to march the demand. Prices dropped in the South Asian market during 2nd half of 2016 owing to continued dull buying interest and weaker ethylene feedstock rates . ExxonMobil Chemical has shut its 1.9 mmt/year PE plant, located on Jurong Island in Singapore, in early-March 2017 for a maintenance turnaround for about one month
Key Topics Covered:
1. Our Research Methodology
2. Market Overview
3. Market Dynamics
4. High Density Polyethylene (HDPE) Market Segmentation, Forecasts and Trends - by Revenue, Volume
5. By End-Use Industries
- Pipes and Tubes
6. By Products
- Blow Molding
- Injection Molding
7. By Region
8. Competitive Landsape Analysis
9. Company Profiles
- Lone Star Chemical
- Dow Chemical
- Exxon Mobil Corporation
- Sinopec Corporation
- Braskem SA
- Cummins Inc.
- Evonik Industries
- Afton Chemical Corporation
10. Industry Structure
- Industry M&As, Consolidations
- Import-Export Scenario
- Price Trends
- High Density Polyethylene (HDPE) market - Road Ahead
For more information about this report visit http://www.researchandmarkets.com/research/gvwp2b/global_high
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets