Global Supply-Demand Analysis – HDPE, LDPE and LLDPE Market

Global Supply-Demand Analysis – HDPE, LDPE and LLDPE Market

The global HDPE Market demand in 2018 was estimated to be around 47554 kilo tons and it has grown at an annual average of 4.0% historically from 2010 - 2018.  It is forecast to grow by 4.1% to reach 62937 kilo tons by 2025. The average operating rates have been in their mid-80s and will continue to operate at the same rate during the forecast period. The additions of capacities are not likely to cause a significant decline in operating rates as the strong growth from China will push the utilisation rates high for all major export oriented plants. Historically the demand has outstripped the capacity additions; however during the forecast period there may be some surplus, if all the capacities are online as decide. 

The Ziegler and Slurry loop process account for largest process used to produce HDPE. The HDPE market is dominated by number of technologies. Some of the mostly used include Chevron Phillips, UNIPOL, Mitsui, and Hostalen while other major technologies used include Equistar-Maruzen, INNOVENE S, and INNOVENE G.

Over the 2019-2025 period; about 14426 kilo tons of new capacity is scheduled to come on-stream, against a growth in demand forecast of over 13442 kilo tons.

Global Demand-Supply, HDPE
Figure 1 Global Demand-Supply, HDPE

Global Supply-Demand Analysis – LDPE and LLDPE Market

The global LDPE demand was estimated to be around 15788 kilo tons in 2010 and it has grown at an annual average of 3.1%.  It is forecast to grow by 1.4% to reach 22301 kilo tons by 2025. LDPE growth remains the slowest of all polyolefins mainly because of LLDPE substitution and mature LDPE applications. It is expected that some growth will pick up due to rising demand in Asia-Pacific and Middle East. Mature market in Asia like Korea and Japan are likely to decline. However, LDPE has been able to retain its market share based upon its ease of processing compared to LLDPE. This leads to value as a blend stock with LLDPE. Most low density films are produced with some LDPE in the blend to aid proccessability and improve optical properties. The average operating rates have been in the range of mid to high 70s. 

The substitution of LDPE by LLDPE over the past decade and more has largely been occuring a faster rate in USA and Western Europe. Applications where clarity is very important LDPE has not lost any of its market shares. LLDPE has not been able to penetrate the traditional LDPE markets like blow molding, wire and cable, extrusion coating applications. LDPE here offers clarity, superior proccessability and sealability. Some of the growing LDPE applications include specialty lamination films and high quality shopping bags.

Global Demand-Supply, LLDPE-LDPE

Figure 2 Global Demand-Supply, LLDPE-LDPE

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