HDPE (Blow Molding) Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of HDPE (Blow Molding) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

HDPE (Blow Molding) Price Trend for the Second Half of 2023

Asia

In the third and fourth quarters of 2023, the producers and dealers of HDPE struggled with the fluctuations in its prices. The third quarter initially registered a spike in HDPE pricing, but this was short-lived as declining market dynamics and weak demand drove prices south. Any increasing momentum of the HDPE (blow molding) pricing trend was hampered by the further recession of the Asian economy and its subsequent impact on industrial growth.

HDPE (Blow Molding) Price Chart

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There was a brief but noticeable market surge in the fourth quarter as well, but the HDPE price trend was soon stifled by the adverse market conditions and swindling growth potential of the market. These challenges in H2 of 2023 thus resulted in the decline in HDPE (blow molding) spot prices from around 1267.67 USD/MT in June '23 to approximately 1197 USD/MT in December '23 in China.

Europe

The HDPE pricing trend in the second half of 2023 indicated a downturn in consumer confidence in this industry and a gloomy outlook from downstream sectors. Furthermore, declining feedstock costs and negative macroeconomic data made the market conditions worse, shattering hopes for a market rebound. The packaging industry's slowdown and consumer inflationary pressures compounded the decline in HDPE pricing.

North America

The price trend for HDPE in North America was similar to what was seen in European and Asian nations due to high rates of inflation, decreased downstream demand, and falling feedstock costs. In the middle of the third quarter, despite these obstacles, there was a noticeable increase in demand and a rise in the price of crude oil.

During this time, a few large manufacturers unexpectedly closed, which put pressure on supply networks. Though supply chains normalized and exceeded demand in the fourth quarter, causing a reversal in market circumstances, the upward impetus was fleeting.

Analyst Insight

According to Procurement Resource, the price trend of HDPE (Blow Molding) is expected to follow a downward trail as the presented conditions from the downstream industries do not look favorable for HDPE prices.

HDPE (Blow Molding) Price Trend for the First Half of 2023

Asia

In the first quarter, the poor performance of downstream industries proved to be a challenge for the HDPE (blow molding) market, but the scenario did not change much as compared to the previous quarters due to the limited availability of stock.

Some of the manufacturing units had to shut down their production due to maintenance issues, and thus, with the stagnancy in the overall market sentiments, the prices of HDPE (blow molding) remained stable. However, in the second quarter, the demand from the packaging and construction sector was still low, and even the upstream products did not show any positive movements. Along with this, the declining condition of the economy due to the ongoing Russia-Ukraine war further pushed the prices of HDPE (blow molding) towards a southward trajectory.

Europe

The weak demand from the downstream industries and fewer inquiries were the major causes of the decline in the prices of HDPE (blow molding) in the first two quarters of 2023. In addition to this, the negative impact of the weak position of the global economy leading to high rates of inflation, the ongoing Russia-Ukraine war, and the struggling condition of the upstream industries further hampered the growth of the HDPE (blow molding) price trend. The fluctuations in the crude oil sector and routine shutdown of some major manufacturing units ultimately led to the fall in the market sentiments of HDPE (blow molding).

North America

The first quarter of 2023 proved to be in favor of the rise in the prices of HDPE (blow molding). In this quarter, the inclining interest of consumers, positive movement of construction and other related sectors, and receding level of inventories led to the rise in the market activities of HDPE (blow molding) and, in turn, its prices.

The second quarter, however, did not follow this trajectory as the sluggish movement of packaging and construction sectors and eventual rise in inventories posed a negative pressure on the market. In addition to this, the failure of two major US banks added to the rise in inflation and interest rates, causing the price trend of HDPE (blow molding) to fall.

Analyst Insight

According to Procurement Resource, the price trend of HDPE (blow molding) is estimated to decline in the upcoming months as the packaging and construction sectors are not showing any signs of improvement, which will impact the market negatively.

Procurement Resource provides latest prices of HDPE (Blow Molding). Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.