HDPE or High-Density
Polyethylene
is a thermoplastic polymer (type of polyethylene) with a density above 943.0
Kg/m3. It is marked with the number ‘2’ as a resin identification (ID) code to
make it easier for identification during recycling. It is characterized by
minimal branching of the polymer chain, which makes it denser & more rigid
than Medium Density Polyethylene (MDPE) and Low Density Polyethylene (LDPE). HDPE
is usually used in the manufacturing of rigid food & non-food containers,
geomembranes, plastic lumber, and corrosion-resistant piping due to its high
chemical resistance. It also finds application in bottle caps, carrier bags, and
food wrapping material, rails, aeronautics, household items, kitchenware,
chemical drums, cable insulation, and vehicles. It is
also used in 3D printer filament, geothermal heat transfer piping systems, banners,
firework mortars, natural gas distribution piping systems, and microwave
telescope windows.
According
to study, “Global High
Density Polyethylene (HDPE) Market Status (2015-2019) and Forecast (2020-2024)
by Region, Product Type & End-Use” the key companies
operating in the global HDPE market are Exxon Mobil Corporation, Chevron
Phillips Chemical Company, Dow Chemical Company, LG Chemical, SABIC, Total SA, GEM
Plastics, Lyondellbasell Industries Holdings B.V., Lotte Chemical, INEOS, PetroChina
Company Limited, Darbox, Formosa Plastics Corp., CNOOC, Indian Oil Corporation
Ltd., Envision Plastics, Braskem, CNPC, Sinopec.
Based
on type, HDPEmarket is segmented
into film grade HDPE, blowing molding grade HDPE, injection molding grade HDPE
and extrusion grade HDPE. Based on feedstock, market is segmented into natural
gas, naphtha and others. Based on manufacturing process, market is segmented into
slurry process, gas phase process, and solution process.Based on application,
market is segmented into pipes & tubes, sheet & film, rigid articles
and other applications.Sheet & film dominates the market owing to rise in
demand for film and sheet in packaging and agricultural applications. In
addition, based on end-user, market is segmented into agriculture, automotive, transportation,
building & construction, packaging and others. Automotive and building
& construction industries are expected to register considerable growth due
to increase in adoption of lightweight material in the latter industries during
the forecast period.
The
HDPE market is driven by increase inuse of plastic pipes as substituents,
followed by rise in construction activities and growth in demand from the
packaging industry. However, fluctuating crude oil prices may impact the
market. Moreover, rise in use of HDPE products in an array of packaging
applications is a key opportunity for market.
Based
on geography, the Asian-Pacific region holds major share in HDPE market owing to rapidly increasing
demand for personal care and growth in constructional spending in the region. Whereas,
the North-American and European regions are estimated to exhibit substantial
growth rate due to rise in disposable income, cheap & easy availability of
cheaper raw material and increase in use of plastic pipes as substituents over
the forecast period. In near future, it is predicted that the market will be
reached at quick pace on account of rise in demand for automotive plastics and
increase in adoption of plastic materials in the construction industry during
the forecast period.
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