Asia-Pacific High-density Polyethylene (HDPE) Market - Segmentation by Product Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Asia-Pacific high-density polyethylene (HDPE) market is expected to grow significantly during the forecast period, 2018 - 2023. High-density polyethylene (HDPE) is expected to register increasing use in sewer and drainage, potable water, and natural gas distribution applications, occupying the current market share of other materials, such as steel and concrete during the forecast period.
Robust Demand from the Packaging Industry
HDPE films are by far the fastest growing among all the HDPE product types, owing to the rapidly increasing demand from various end-user industries, majorly from the packaging industries. HDPE films find majority of their applications in food and non-food packaging applications. China is the first country to import beverage bottles made using HDPE and is expected to be a growing market for rigid HDPE packaging during the forecast period. Low odor and excellent chemical resistance make HDPE films ideal for usage in food packaging.In addition, regulatory bodies such as Food and Drug Administration (FDA) have deemed the usage of HDPE films ideal for food contact applications. Recently, the usage in food packaging applications has increased due to the development and availability of thinner films that provide the required performance characteristics.
Increasing Usage as Plastic Pipe
HDPE (accounting for the second largest share of plastic pipe demand) is expected to witness the strongest gains in demand during the forecast period. HDPE pipes are highly preferred for water distribution due to their welding joints. Additionally, HDPE pipes are being examined to use in nuclear plants by the Electric Power Research Institute (EPRI), as these pipes prevent corrosion, unlike the metallic pipes used for these applications. Newer, mechanical joining methods for connecting HDPE pipes are gaining momentum, particularly for applications in the oil & gas industry. These methods would avoid the various challenges faced by the oil & gas companies, such as resistance to different weather conditions, capital costs, and the time duration involved.
China to Lead the Market
Improvements in the standard of living of people is the major factor contributing to the HDPE market growth in China and the market is expected to grow significantly during the forecast period. HDPE has benefited from possible health and environmental problems caused by polyvinyl chloride. This material is also preferred for its advantages over glass, metal, and cardboard. China is one of the leading countries in packaging industry, and in the last few years, the country has also come to possess world's largest automotive market. Rapid growth in these sectors will continue to boost demand for HDPE in China. In India, HDPE cables and insulations play a major role in infrastructure expansions.
March 2018: Sinopec Yangzi brought on-stream HDPE/LLDPE plant in China.
January 2018: DowDuPont launches game changing fully recyclable polyethylene packaging solution in India.
Major Players: BASF SE, DowDuPont, Braskem, Sinopec, SABIC, and Ineos, among others.
Reasons to Purchase the Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Countries expected to witness the fastest growth during the forecast period
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