Low-density Polyethylene Market Size, Growth and Analysis 2023
Posted by Payal Singhania on March 19th, 2020
Low-Density Polyethylene Market Drivers and Top Barriers
Growing demand from construction and automotive industry is projected to be the driving force behind the LDPE market growth. Evolving lifestyle along with increasing disposable income will offer lot of benefits to the market as well. As LDPE offers the benefit of transparency at a much lower weight, its demand is expected to surge in the automotive industry, backed by the strict government regulations for increasing the vehicle efficiency. Moreover, the expansion of the food packaging industry is poised to elevate the market position, as the transparency of the packaging is critical, with consumer groups opting for transparent packaging.
Food packaging is inclusive of poultry and meat wrapping, baked goods dairy, sweets, snacks, and frozen goods. As the population is rising, the demand for low-density polyethylene is growing in the construction industry, especially in the developing countries. The growing demand for energy efficient industrial and civil infrastructure in developed nations across the globe will prove to be beneficial for the market growth of LDPE. Furthermore, various government initiatives and regulations in emerging economies pertaining to energy efficient industrial infrastructure are striving to elevate the market position as well.
On the downside, replacement of LDPE with linear low-density polyethylene (LLDPE) in various applications can undermine the market growth to some extent. Nonetheless, rising demand for use of LDPE in medical film is bound to present opportunities to the market players in the near future. Also, the surging demand from injection molding, molded laboratory equipments, and adhesive laminate will offer countless opportunities to the LDPE market during the review period. besides, bio-derived polyethylene produced from sugarcane by a number of companies will also open new avenues for the market, especially in a developing country like Brazil.
Low-Density Polyethylene Market Segmentation
The market for low-density polyethylene is segmented on the basis of manufacturing process and application.
Depending on the manufacturing process, the global low-density polyethylene market overview is considered for autoclave and tubular.
Film & sheets, extrusion coating, injection molding and others are some of the significant applications of low-density polyethylene market. The expansion of LDPE market in films and sheets application is mainly led by the increasing demand in the packaging sector. On the other hand, the rise of the injection molding segment is the result of the elevated demand for injection-molded LDPE articles, like pallets, crates, household goods, packaging containers and caps, toys, in diverse end-use industries.
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Low-Density Polyethylene Market Regional Insight
Asia Pacific, Latin America, Europe, North America and the Middle East & Africa are the main regions across which the global low-density polyethylene market is thriving during the review period.
The report identifies Europe as one of the strongest regional markets globally, as the region had accounted for about 31.10% share in 2017. The predicted growth rate of the region holds true based on the factors like the presence of a huge number of manufacturers coupled with the speedy expansion of the polymer industry. Moreover, with the rapid boom in the packaging sector and the subsequent increase in the product demand, the regional market is set to witness further growth from 2018 to 2023.
Advancements in technology and the positive economic development in the Asia Pacific region, especially in countries like India and China will enhance the growth prospects the years to come. Rapid industrialization, in particular the construction industry owing to burgeoning population will bear good news for the market in the region in the near future.
The key players currently dominating the global low-density polyethylene market include INEOS (UK), Qatar Petrochemical Company (QAPCO) Q.P.J.S.C. (Qatar), Mitsui Chemicals, Inc. (Japan), Reliance Industries Limited (India), Braskem (Brazil), SABIC (Saudi Arabia), Sasol (South Africa), LyondellBasell Industries Holdings B.V. (The Netherlands), China Petrochemical Corporation (China), DuPont (U.S.), Petkim Petrokimya Holding A.Ş (Turkey), Chevron Phillips Chemical Company (U.S.), Exxon Mobil Corporation (U.S.), BASF SE (Germany), Formosa Plastics Corporation U.S.A (U.S.), among others.
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About the AuthorPayal Singhania
Joined: December 12th, 2019
Articles Posted: 397
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