A new study from Ceresana Research reveals that although North America and Western Europe accounted for approximately 44 per cent of worldwide consumption of HDPE during 2007, the Asian-Pacific market leads worldwide growth and, for the most part, will drive future HDPE revenue increases. Eastern Europe is also profiting from significant growth rates and has reached a market volume of 2.5 mn tons.
Asia-Pacific's share of worldwide HDPE consumption has risen from 31 per cent in 2000, to more than 35 per cent in 2007. Manufacturers in this region are benefiting from Asia's rapidly growing markets and increasing export possibilities to North America and Western Europe. The HDPE manufacturing industry is migrating from previously established regions to the continuously growing and cost effective countries in Asia. China is the fastest growing market for rigid HDPE packaging.
In the Middle East, not only is demand for plastics increasing steadily, but so is production. Since 2000, HDPE production in the region has increased an average of 20 per cent per year. There is no end in sight for this rapid development: Until 2013, projects with a total capacity of 6.7 mn tons are planned throughout the Middle East, which is expected to make this region the most important supplier of HDPE.
Only marginal capacity increases will take place in Western Europe and North America, primarily through the modernization of old production facilities. Manufacturers will be required to invest in innovative products and efficient production technologies, to stay current among increasing competition.
