China’s High-Density Polyethylene (HDPE) Market : Industry Growth And Forecast Report By Radiant Insights,Inc
The primary driver of the China’s High-Density Polyethylene (HDPE) Market is China’s industrial output and industrial growth in the last decade. The only factor inhibiting market growth is the fluctuating prices of crude oil.
San Francisco, United States – July 27, 2016 /MarketersMedia/ —
High-density polyethylene is derived from petroleum. It has high strength and has been used in corrosion-resistant pipes, plastic lumber & bottles. The high-density polyethylene (HDPE) market in China is projected to grow at a rapid rate over the forecast period (2018-2023). China’s demand has reached nearly 9 metric tons (Mt) as of 2014. The primary driver of the market is China’s industrial output and industrial growth in the last decade. The only factor inhibiting market growth is the fluctuating prices of crude oil.
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Majority of HDPE consumption are going into building coal chemical projects. The market needs to rely less on imports from South Korea and Iran. But it has a better standing in the global market due to its low cost-effective production. The regional market is segmented by applications and end-users.
Major market applications encompass cross-linked polyethylene, geomembranes, sheets, and caps & closures. Caps & closures are gaining prominence as industries worldwide are looking for light-weight solutions for bottles.
Geomembranes will gain prominence as China intends to restructure its entire drainage and plumbing network. HDPE resins amounted to almost 80 kt (kilotons) for this project.
End-users of the high-density polyethylene (HDPE) market in China are fireworks, personal care & cosmetics, blow molding, construction & pipes, agricultural films, telecom ducts, and electrical & plumbing boxes. Blow molding has gained the lion’s share of the market demand. Rise of infrastructure projects as well as construction of smart cities can augment HDPE demand in the Chinese market. Increasing scope in fireworks and molded bottle production are expected to increase market volumes in the years ahead.
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Regions comprise North, South, East, and West China. Noteworthy HDPE-producing provinces include Jiangsu, Tianjin, Shandong, Guangdong, Fujian, and Shanghai. Shandong province imported almost 1.1 Mt, followed by Guangdong with 827 kT in 2014. Shanghai produced nearly 717 kT, followed by Jiangsu, Fujian, and Tianjin.
Prominent manufacturers of the HDPE market in China are PetroChina Company Limited, Liaoning Panjin Ethylene Company Limited, Sinopec Maoming Petrochemical Corporation, and China National Offshore Oil Corporation (CNOOC).
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Companies are involved in mergers and obtaining better technology to get an edge over their competitors. CNOOC gained access to INEOS Technologies patented manufacturing process to produce medium and high-density polyethylene pipes.
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