Global High Density Polyethylene market to reach US$88.26 bln by 2022

12-Apr-17

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. In terms of demand, the market was US$63.54 bln in 2016 and would reach US$88.26 bln by 2022 growing at a rate of 5.63% compounded annually, as per Research and Markets.

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.

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.