Low-Density Polyethylene Market: Transformative Trends in LDPE Dynamics
Posted by Pearl Smith on November 28th, 2023
The Low-Density Polyethylene Market is estimated to be valued at US$ 47.08 Bn or billion in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Low-density polyethylene is a thermoplastic made from petroleum. It is used for production of plastic bags, containers, pipes and various packaging applications. It has properties like high flexibility, low density, impact resistance and transparency which makes it suitable for applications where high tensile strength is not required. Its recyclability and relatively low cost have made it a preferred choice for packaging industry.
One of the major trends driving the growth of the low-density polyethylene market is increasing usage for packaging applications. According to Plastics Europe statistics, flexible packaging segment accounted for over 35% of the total plastic packaging demand in 2017. LDPE has emerged as one of the preferred material for flexible packaging products like plastic bags, pouches, shrink films, laminates and stretch wraps owing to its high flexibility, strength and transparency. In addition, factors like growth of food and beverage industry, ease of manufacturing packaging from LDPE and ban onusage of traditional plastic bags are contributing towards rising demand from the flexible packaging segment. Furthermore, increasing usage of plastic pipes for oil & gas industry and water supply infrastructure is expected to propel the demand for LDPE over the forecast period.
Threat of new entrants: Low-density polyethylene market requires high initial investments and technology which creates entry barriers for new players.
Strength: Wide applications in plastic bags, containers and bottles due to properties like flexibility, low cost and durability.
The global Low-Density Polyethylene market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand from packaging industry. Asia Pacific dominates the regional market due to strong growth in Chinese and Indian economies promoting packaging consumption.
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About the AuthorPearl Smith
Joined: September 27th, 2022
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