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"Global Low Density Polyethylene (LDPE) Market was Valued at US$ xx Bn in 2019 and it is Expected to Reach More than US$ 48.1 Bn by 2028, Likely to Grow with the CAGR of 4.8% During the Forecast Period."
Low-Density Polyethylene (LDPE) is a thermoplastic polymer of ethylene made by the process of free radical polymerization at high pressure. It has a density in the range of 0.910g/cc to 0.940g/cc which results in low tensile strength but high ductility. LDPE offers transparency, flexibility and high electrical & chemical resistance which makes it ideal to use in end industries such as flexible packaging, construction, automotive, greenhouse, tunnels, insulation coax, and others.
Increasing demand for use of LDPE in the medical film is expected to provide an opportunity for market players in the near future. In addition, demand from molded laboratory equipment, injection molding, and adhesive laminate is expected to provide opportunities for the LDPE market during the forecast period. The bio-derived polyethylene production from sugarcane by some companies is expected to open new opportunities in developing countries such as Brazil.
The growth in the packaging industry is fueling the growth of the overall low-density polyethylene (LDPE) market. LDPE is one of the major materials used in the packaging of frozen foods, edible products, liquid packaging, agriculture, and power cables.
However, the demand for a substitute, such as LLDPE and HDPE, in the regions, such as North America, Europe in many applications due to its low cost and environment regulations hinder the market growth. Further, volatility in raw material prices and replacement by HDPE in agricultural films may hamper the market growth.
The Packaging industry Segment is Expected to Dominate the Low Density Polyethylene (LDPE) Market During the Forecast Period
The packaging industry was the largest segment of the global revenue share of Low-Density Polyethylene (LDPE) market in 2019 and is anticipated to expand at xx% CAGR during the forecast period. The growth of the Packaging segment is driven by the demand of LDPE in the packaging industry as it provides transparent, flexible, and strong packaging of products along with the use of edible and non- edible products.
Furthermore, the demand for LDPE will rise as it is cost-effective, light-weight, and has good tensile strength. The demand in the cable industry for insulation of wires as the LPDE is UV proof, chemical resistant flexible, and durable this will further help to rise in the use of LDPE packaging. In addition, odorless LDPE bags are used by pharmaceutical companies to prevent their drugs from moisture for a longer duration. LDPE is used in our day-to-day life in the form of trays, polyethylene bags, general-purpose containers, and juice boxes.
However, the construction sector and automotive sector are expected to be the fastest-growing market due to high demand, particularly in the emerging economies.
The Market in Europe Is Expected to Dominate the Low Density Polyethylene (LDPE) Market During the Forecast Period
Europe was the largest producer and exporter of the Low-Density Polyethylene (LDPE) and is anticipated to hold xx % of the global revenue share of the Low-Density Polyethylene (LDPE) market in 2019 and this trend is expected to remain unchanged in next few years.
The demand from the automobile industry due to government regulations’ regarding vehicle efficiency is expected to drive the market in this region. In addition Building, an energy-efficient infrastructure is driving the demand for insulation products and is expected to drive the LDPE market.
The Asia-Pacific Region Is Projected to Register a Highest Growth in the Low Density Polyethylene (LDPE) Market during the Forecast Period
The Low-Density Polyethylene (LDPE) market in the Asia Pacific accounted for over xx% of global revenue share in 2019 is expected to be the fastest-growing region at a CAGR of over 5.1% during the forecast period.
The rapid industrialization, particularly in China and India. In addition, growing demand from the automotive, packaging and construction industry owing to rising population particularly in emerging economies such as India and Indonesia is anticipated to drive demand for LDPE over the forecast period. The market in the Asia Pacific is predicted to be highly lucrative for low-density polyethylene manufacturers, owing to the increasing demand for low-density polyethylene (LDPE) in end-use applications, such as films, sheets, and coatings for various industries.
Some of the key players in the global Low Density Polyethylene (LDPE) market are British Polythene Industries, Borealis AG, Dow Chemical Company, GE Oil & Gas, Chevron Phillips Chemical Company LLC, Exxon Mobil Chemical Company, Huntsman Corporation, DuPont, Formosa Plastics Corporation, Ineos PLC, Nova Chemicals Corporation, PEMEX, LyondellBasell Industries, SINOPEC, Qatar Chemical Company Ltd SABIC, and Westlake Chemical Corp.
Low Density Polyethylene (LDPE) Market Key Segments:
Low Density Polyethylene (LDPE) Market, By Product
- Stretch and shrink films
- Bags and sacks
- Caps/closures, and lids
Low Density Polyethylene (LDPE) Market, By End-use Industry
- Consumer Electronics
- Other End-user Industries
Low Density Polyethylene (LDPE) Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America