Demand for North America Linear Low-Density Polyethylene and Impact of COVID-19…Posted by Mrudula Anil Karmarkar on March 12th, 2021 The North America linear low-density polyethylene market size is anticipated to reach USD 19.6 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to register at a CAGR of 3.9% during the forecast period. Increasing popularity of packaged foods is likely to boost the demand for linear low density polyethylene. The rapid expansion of retail stores across U.S. and Canada has driven the demand for packaged foods coupled with increasing consumption of fresh food products, positively influencing the market growth. The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor. Favorable federal regulations laid down by agencies, such as the Environmental Protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA) regarding carbon emissions along with the initiatives to develop plastics application for the development of lightweight and fuel efficient cars are likely to augment the growth of North America LLDPE market. Packaged foods have been gaining popularity in U.S. owing to various factors such as fast-paced lifestyle and increasing consumer spending on convenient food products. These food products are characterized by the ease of consumption and cleanliness. Plastic packaging for food provides resistance and protection against microorganisms and bacteria, which reduces the risk of foodborne illnesses. It also increases the shelf life of the product. Moreover, plastic food packaging provides safety during handling and transportation. Packaging end-use segment is expected to create lucrative opportunities for linear low density polyethylene films. Smaller amount of plastic may be utilized for the packaging of beverages in comparison to other conventional materials. This saves transportation costs, energy and time by trimming waste in all aspects. Unlike other conventional materials, LLDPE may also be reused for multiple applications and recycling processes are simple and effective for plastic compounds. North America Linear Low-Density Polyethylene Market Report Highlights
North America is one of the prominent suppliers of polyethylene owing to the abundant availability of raw materials to manufacture ethylene and other derivatives. Linear Low-Density Polyethylene (LLDPE) is significantly consumed in applications such as liners, covers, packaging films, and other products. Consumption in these applications is anticipated to witness a significant rise owing to the properties of LLDPE, such as strength, durability, easy to handle, and inexpensive. Ethylene and crude oil are among the key raw materials used to manufacture plastics. Ethylene and co-monomers such as butane, hexane, and octene are the main raw materials utilized in the production of LLDPE. Fluctuating raw material costs associated with plastics is expected to pose hindrances in terms of profitability. Major companies, such as BASF and Exxon Mobil, are actively investing in R&D to improve their production processes by adopting strategic initiatives in an attempt to reduce costs and improve efficiency. Ethylene prices have been witnessing high fluctuations since the past few years, while its demand was affected by downstream polyethylene outages. Ethylene has witnessed a significant demand in North America with increased consumption in automobile and packaging applications. Moreover, production cost is also relatively lower owing to high availability of low carbon feedstock in the region. Canada and Mexico are anticipated to witness an exponential rise in manufacturing activities, which is driven by economic growth, favorable credit landscape, and increased spending capacities in. Plastics and the related raw materials, which are consumed in the manufacturing of tangible goods, are likely to gain traction in terms of demand in the coming years, thereby positively affecting plastics industry, including the LLDPE industry. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450263/ibb Grand View Research has segmented the North America linear low-density polyethylene market on the basis of product, process, end use, layer: North America Linear Low-Density Polyethylene Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
North America Linear Low-Density Polyethylene Process Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
North America Linear Low-Density Polyethylene End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
o Pharmaceutical Packaging o Food & Beverage Packaging
North America Linear Low-Density Polyethylene Layer Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
o 3 Layer o 5 Layer o Others About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |