Bimodal High Density Polyethylene (HDPE) Market Analysis is Estimated to Grow at a CAGR of 5.25% by 2030 | ChemAnalyst

by ChemAnalyst
Bimodal High Density Polyethylene (HDPE) Market

According to ChemAnalyst report, “Global Bimodal High-density Polyethylene (HDPE) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global bimodal HDPE market demand stood at 17.21 Million Tonnes in 2020 and is forecast to reach 28.672 Million Tonnes by 2030, growing at a healthy CAGR of 5.25% until 2030. Growing demand from the end user industries such as gas and water pipelines, detergent bottles and food storage containers is expected to drive the demand of bimodal HDPE for the forecast period. Moreover, the growing demand of biodegradable plastics is expected to hinder demand growth during the forecast period.

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Bimodal HDPE is a type of HDPE which has both amorphous and crystalline regions. As a result, it benefits from the bimodality by having strength and stiffness of HDPE and high stress crack resistance and processability of a unimodal medium density polyethylene. It is basically a mixture of low molecular weight HDPE and High molecular weight HDPE. Bimodal HDPE has several properties including high mechanical strength, durability, chemical resistance, light weight etc. Major applications of bimodal HDPE are bimodal HDPE pipe, bimodal HDPE film, and bimodal HDPE blow molding. The end user industries for bimodal HDPE are gas and water pipelines, detergent bottles, food storage containers, bottle caps, etc.

Bimodal HDPE is basically a type of polyethylene having both crystalline and amorphous properties. It is a mixture of high molecular weight HDPE and low molecular weight HDPE. In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Detergent and cleaners were among the most affected industries during the pandemic. This had an impact on the demand of bimodal HDPE for the first half of 2020. Therefore, the demand for bimodal HDPE grew during the coronavirus pandemic from the detergents and cleaners bottles segment due to increased awareness about health and hygiene.

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Bimodal HDPE is majorly related to ethylene hence the price is directly linked to the fluctuations in the demand of crude oil. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of crude oil rendered a major fall in the global bimodal HDPE, hence the prices remained low for bimodal HDPE during the coronavirus pandemic. Demand has picked up in the recent quarters and is projected to grow due to increasing demand from Asia Pacific and North America.

Regionally, Asia Pacific dominates the Global bimodal HDPE market and holds the largest market share in FY20. Asia’s bimodal HDPE market is anticipated to grow in the economies like China and India.

According to ChemAnalyst report, Global Bimodal HDPE Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global bimodal HDPE market are The Dow Chemical Company, Chevron Phillips Chemical Company, Saudi Basic Industries Corporation (SABIC), Exxon Mobil Corporation, Dynalab Corp., LyondellBasell Industries N.V., INEOS AG, SINOPEC Beijing Yanshan Company, PetroChina Company Ltd., Braskem, Formosa Plastics Corporation, Daelim Industrial Co. Ltd., Prime Polymer Co. Ltd. and Mitsui Chemicals Inc and others.

“Being linked to the packaging industry, the global bimodal HDPE industry has shown a robust growth alongside growing population and changing consumer preference. China serves as the key growth region with sufficiently installed capacities for bimodal HDPE.  With new competitors emerging across the Asia Pacific bimodal HDPE market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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