There are different grades of UHMW, it makes quite a difference to performance and price. And colours seem to vary between manufacturers, for example Sal mentioned black as reprocessed, but it can be either reprocessed or virgin.
We used to get our UHMW from Roche, Germany. Here are the specs I have from a few years back:
-White/green was virgin, 4.5 million density.
Some manufacturers use green as the colour of their reprocessed grade.
-Black was either reprocessed (2.5 -4.5 million density) or '5000' Grade, 7 million density.
-Blue was the premium 'filled' quality, 10.5 million density.
Abrasion resistance and price increased with the density. The high grade was UV resistant (and not food grade, by the way).
As for HDPE, I haven't used it, but my catalogues list it alongside HMWPE and don't seem to differentiate between the two in their description. They describe both as high molecular weight PE and give the density as 500,000. It costs quite a bit less than UHMW, has a much lower coefficient of expansion, more like nylon 6 (one of the curses of UHMW is its radical expansion rate), doesn't rate for abrasion resistance (the great quality of UHMW). Impact strength good - but not as good as UHMW.
It is the industry standard for cutting boards.