Report Overview

India High Density Polyethylene (HDPE) Market - Industry Trends & Forecast Report, 2029

India High Density Polyethylene (HDPE) market size was estimated at USD 1.97 billion in 2022. During the forecast period between 2023 and 2029, the size of India High Density Polyethylene (HDPE) market is projected to grow at a CAGR of 5.8% reaching a value of USD 2.76 billion by 2029. Major growth drivers for the India High Density Polyethylene (HDPE) market include the growing requirement for high-density polyethylene pipes within the agricultural sector. These pipes are valued for their exceptional corrosion resistance and play a pivotal role in agricultural activities such as water supply, drainage, and irrigation. The surge in demand can be attributed to the introduction of the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) by the Government of India. This initiative, which aims to enhance irrigation sources within agricultural fields, is expected to contribute significantly to the heightened adoption of HDPE-derived pipes throughout the forecast period. Notably, the strategic expansion plans of domestic refiners in the petrochemicals and chemicals sectors are anticipated to be key drivers in propelling the growth trajectory of the HDPE market in the years ahead. Simultaneously, the escalating demand for a diverse range of products, including HDPE-based buckets, containers, and wire & cable insulation, is predicted to further bolster the India HDPE market over the forecast period. The versatile applications of HDPE extend beyond agriculture. Also, its utilization in blow molding for plastic production is gaining traction across various sectors, including automotive, packaging, and sports. This material's adaptability and advantageous properties are contributing to its increasing preference.

India High Density Polyethylene (HDPE) Market – Overview

High density polyethylene (HDPE) is a thermoplastic form of polyethylene derived from sources, including naphtha, natural gas, and gas oil. The production of each kilogram of high-density polyethylene necessitates the consumption of approximately 1.75 kilograms of petroleum, encompassing both energy and raw materials. Its density ranges from 0.93 g/cm³ to 0.97 g/cm³. This relatively elevated density results in minimal branching within high-density polyethylene's molecular structure, leading to heightened intermolecular forces and tensile strength. The increase in strength surpasses the variation in density, conferring upon high-density polyethylene a superior specific strength.

India High Density Polyethylene (HDPE) Market

Growth Drivers

Increasing Demand from Packaging Industry

The escalating and rapid demand for High Density Polyethylene (HDPE) for the production of containers & bottles, woven sack & general-purpose nets, packaging films, pressure pipes, and consumer goods is projected to have a substantial positive impact on the India High Density Polyethylene (HDPE) market over the forecast period. The confluence of rising plastic demand and the swift pace of industrialization has led to a noticeable demand-supply gap. This gap, in turn, presents a lucrative opportunity for new entrants in the market to not only address the HDPE demand within India but also to establish a foothold in the market. This scenario underscores the potential for new companies to capitalize on this growing trend and contribute to fulfilling the HDPE demand in the Indian market.

Restraints

Fluctuating Raw Material Prices

High volatility in raw material prices creates uncertainty in production costs, impacting profit margins and investment decisions. This volatility hinders market stability and growth, as manufacturers face challenges in predicting pricing trends, which can deter expansion and innovation in the High Density Polyethylene (HDPE) market in India.

Impact of COVID-19 on India High Density Polyethylene (HDPE) Market

COVID-19 pandemic adversely affected the India High Density Polyethylene (HDPE) market. Supply chain disruptions, reduced industrial activities, and fluctuating demand characterized this period. Lockdown measures and economic uncertainties hindered production and consumption, affecting sectors heavily reliant on HDPE, such as packaging, construction, and automotive. Nonetheless, the market displayed resilience due to HDPE's essential applications in healthcare, sanitation, and packaging for essential goods. As the situation stabilized, a gradual recovery was observed, driven by the resumption of industrial operations and adaptation to evolving consumer demands. This period underscored the importance of supply chain resilience and diversified applications in future market strategies.

India High Density Polyethylene (HDPE) Market

Segmental Coverage

India High Density Polyethylene (HDPE) Market – By Application

By application, the India High Density Polyethylene (HDPE) market is divided into Blow Molding, Injection Molding, Pipes & Tubes, Rigid Articles, and Sheets & Films segments. The blow molding segment dominated the India High Density Polyethylene (HDPE) market by application due to its extensive utilization in various industries. Blow molding is a preferred method for producing plastic products like bottles, containers, and other hollow-shaped items. This segment's popularity can be attributed to the widespread demand for packaging solutions in sectors such as food and beverages, cosmetics, pharmaceuticals, and household products. The versatility, cost-effectiveness, and ease of manufacturing using blow molding have contributed to its significant share in the Indian HDPE market, making it the preferred choice for creating a diverse range of consumer and industrial products.

India High Density Polyethylene (HDPE) Market – By End User

Based on end user, the India High Density Polyethylene (HDPE) market is divided Packaging, Transportation, Electrical & Electronics, Building & Construction, Agriculture, and Industry & Machinery segments. The packaging segment held the highest share in the India High Density Polyethylene (HDPE) market by end user due to its widespread and essential applications across various industries. HDPE's properties, such as durability, chemical resistance, and versatility, make it a preferred choice for packaging materials. It is extensively used for producing bottles, containers, bags, films, and more, in industries like food & beverages, cosmetics, pharmaceuticals, and consumer goods. Also, the growth of e-commerce and increasing consumer demand for packaged products further contribute to the dominance of the packaging segment in the HDPE market.

India High Density Polyethylene (HDPE) Market – By Feedstock

Based on feedstock, the India High Density Polyethylene (HDPE) market is bifurcated into Naphtha and Natural Gas segments.

India High Density Polyethylene (HDPE) Market – By Manufacturing

Based on manufacturing, the India High Density Polyethylene (HDPE) market divided into Gas Phase, Slurry Process, and Solution Process segments.

India High Density Polyethylene (HDPE) Market – By Region

Regionally, the India High Density Polyethylene (HDPE) market is divided into North India, South India, East India, and West India. West India region held the highest share in the India High Density Polyethylene (HDPE) market followed by North India. It can be attributed to the presence of leading polymer and plastic manufacturers located in the Western states, coupled with the existence of shipping ports in these strategic locations. Notably, HPCL-Mittal Energy Limited (HMEL) is anticipated to commence construction on its eagerly awaited petrochemical complex within Guru Gobind Singh Refinery at Bhatinda. The new petrochemical complex features two swing facilities for LLDPE/HDPE, boasting a combined capacity of 400 KTPA. This expansion is driven by the objective to enhance the active supply of raw materials to meet the steadily increasing demand for plastics witnessed over the historical period.

Competitive Landscape

Major players operating in the India High Density Polyethylene (HDPE) market include JSP, Armacell, Zotefoams Plc/Sealed Air, Recticel NV/SA, BASF SE, INOAC CORPORATION, and Thermotec. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Application

• Blow Molding

• Injection Molding

• Pipes & Tubes

• Rigid Articles

• Sheets & Films

By End User

• Packaging

• Transportation

• Electrical & Electronics

• Building & Construction

• Agriculture

• Industry & Machinery

By Feedstock

• Naphtha

• Natural Gas

By Manufacturing

• Gas Phase

• Slurry Process

• Solution Process

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India High Density Polyethylene (HDPE) Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing infrastructure development
         2. Increasing demand from packaging industry
      2. Restraints
         1. Fluctuating raw material prices
      3. Opportunities
         1. Growth in developing economies
      4. Challenges
         1. Environmental concerns
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India High Density Polyethylene (HDPE) Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
         1. Blow Molding
         2. Injection Molding
         3. Pipes and Tubes
         4. Rigid Articles
         5. Sheets and Films
         6. Others
      2. By End User
         1. Packaging
         2. Transportation
         3. Electrical and Electronics
         4. Building and Construction
         5. Agriculture
         6. Industry and Machinery
         7. Other
      3. By Feedstock
         1. Naphtha
         2. Natural Gas
         3. Others
      4. By Manufacturing
         1. Gas Phase
         2. Slurry Process
         3. Solution Process
         4. Others
      5. By Region
         1. North India
         2. South India
         3. East India
         4. West India
5. North India High Density Polyethylene (HDPE) Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By End User
      3. By Feedstock
      4. By Manufacturing
6. South India High Density Polyethylene (HDPE) Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By End User
      3. By Feedstock
      4. By Manufacturing
7. East India High Density Polyethylene (HDPE) Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By End User
      3. By Feedstock
      4. By Manufacturing
8. West India High Density Polyethylene (HDPE) Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By End User
      3. By Feedstock
      4. By Manufacturing
9. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India High Density Polyethylene (HDPE) Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India High Density Polyethylene (HDPE) Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. JSP
    2. Armacell
    3. Zotefoams Plc\Sealed Air
    4. Recticel NV/SA
    5. BASF SE
    6. INOAC CORPORATION
    7. Thermotec
    8. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Country
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List Of Figures

Figure 1       India High Density Polyethylene (HDPE)  Segmentation   

Figure 2       India High Density Polyethylene (HDPE) Market Value Chain Analysis   

Figure 3       Company Market Share Analysis, 2022

Figure 4       India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029  

Figure 5       India High Density Polyethylene (HDPE) Market Share, By Application, By Value, 2019–2029 

Figure 6       India High Density Polyethylene (HDPE) Market Share, By End User, By Value, 2019–2029 

Figure 7       India High Density Polyethylene (HDPE) Market Share, By Feedstock, By Value, 2019–2029 

Figure 8       India High Density Polyethylene (HDPE) Market Share, By Manufacturing, By Value, 2019–2029 

Figure 9       North India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029 

Figure 10     North India High Density Polyethylene (HDPE) Market Share, By Application, By Value, 2019–2029

Figure 11     North India High Density Polyethylene (HDPE) Market Share, By End User, By Value, 2019–2029 

Figure 12     North India High Density Polyethylene (HDPE) Market Share, By Feedstock, By Value, 2019–2029

Figure 13     North India High Density Polyethylene (HDPE) Market Share, By Manufacturing, By Value, 2019–2029

Figure 14     South India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029 

Figure 15     South India High Density Polyethylene (HDPE) Market Share, By Application, By Value, 2019–2029

Figure 16     South India High Density Polyethylene (HDPE) Market Share, By End User, By Value, 2019–2029

Figure 17     South India High Density Polyethylene (HDPE) Market Share, By Feedstock, By Value, 2019–2029

Figure 18     South India High Density Polyethylene (HDPE) Market Share, By Manufacturing, By Value, 2019–2029

Figure 19     East India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029 

Figure 20     East India High Density Polyethylene (HDPE) Market Share, By Application, By Value, 2019–2029

Figure 21     East India High Density Polyethylene (HDPE) Market Share, By End User, By Value, 2019–2029 

Figure 22     East India High Density Polyethylene (HDPE) Market Share, By Feedstock, By Value, 2019–2029 

Figure 23     East India High Density Polyethylene (HDPE) Market Share, By Manufacturing, By Value, 2019–2029

Figure 24     West India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029 

Figure 25     West India High Density Polyethylene (HDPE) Market Share, By Application, By Value, 2019–2029

Figure 26     West India High Density Polyethylene (HDPE) Market Share, By End User, By Value, 2019–2029 

Figure 27     West India High Density Polyethylene (HDPE) Market Share, By Feedstock, By Value, 2019–2029

Figure 28     West India High Density Polyethylene (HDPE) Market Share, By Manufacturing, By Value, 2019–2029

List of Tables

Table 1 India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029

Table 2 India High Density Polyethylene (HDPE) Market Size, By Application, By Value, 2019–2029

Table 3 India High Density Polyethylene (HDPE) Market Size, By End User, By Value, 2019–2029

Table 4 India High Density Polyethylene (HDPE) Market Size, By Feedstock, By Value, 2019–2029

Table 5 India High Density Polyethylene (HDPE) Market Size, By Manufacturing, By Value, 2019–2029

Table 6 North India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029

Table 7 North India High Density Polyethylene (HDPE) Market Size, By Application, By Value, 2019–2029

Table 8 North India High Density Polyethylene (HDPE) Market Size, By End User, By Value, 2019–2029

Table 9 North India High Density Polyethylene (HDPE) Market Size, By Feedstock, By Value, 2019–2029

Table 10      North India High Density Polyethylene (HDPE) Market Size, By Manufacturing, By Value, 2019–2029

Table 11      South India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029

Table 12      South India High Density Polyethylene (HDPE) Market Size, By Application, By Value, 2019–2029

Table 13      South India High Density Polyethylene (HDPE) Market Size, By End User, By Value, 2019–2029

Table 14      South India High Density Polyethylene (HDPE) Market Size, By Feedstock, By Value, 2019–2029

Table 15      South India High Density Polyethylene (HDPE) Market Size, By Manufacturing, By Value, 2019–2029

Table 16      East India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029

Table 17      East India High Density Polyethylene (HDPE) Market Size, By Application, By Value, 2019–2029

Table 18      East India High Density Polyethylene (HDPE) Market Size, By End User, By Value, 2019–2029

Table 19      East India High Density Polyethylene (HDPE) Market Size, By Feedstock, By Value, 2019–2029

Table 20      East India High Density Polyethylene (HDPE) Market Size, By Manufacturing, By Value, 2019–2029

Table 21      West India High Density Polyethylene (HDPE) Market Size, By Value (USD Million), 2019–2029

Table 22      West India High Density Polyethylene (HDPE) Market Size, By Application, By Value, 2019–2029

Table 23      West India High Density Polyethylene (HDPE) Market Size, By End User, By Value, 2019–2029

Table 24      West India High Density Polyethylene (HDPE) Market Size, By Feedstock, By Value, 2019–2029

Table 25      West India High Density Polyethylene (HDPE) Market Size, By Manufacturing, By Value, 2019–2029

Table 26      JSP Company Overview

Table 27      JSP Financial Overview

Table 28      Armacell Company Overview

Table 29      Armacell Financial Overview

Table 30      Zotefoams Plc\Sealed Air Company Overview

Table 31      Zotefoams Plc\Sealed Air Financial Overview

Table 32      Recticel NV/SA Company Overview

Table 33      Recticel NV/SA Financial Overview

Table 34      BASF SE Company Overview

Table 35      BASF SE Financial Overview

Table 36      INOAC CORPORATION Company Overview

Table 37      INOAC CORPORATION Financial Overview

Table 38      Thermotec Company Overview

Table 39      Thermotec Financial Overview