Low Density Polyethylene Market Size, Share, Demand & Trends by 2029
The global low density polyethylene market is predicted to reach a valuation of US$ 43,190.5 Mn in 2022. The market is expected to reach US$ 58,782.2 Mn by 2029, with sales growing at a rate of 4.5% CAGR over the forecast period of 2022-2029. Rising demand for low density polyethylene in multiple applications like extrusion coatings, injection moulding, films, and sheets, among others is expected to boost the market over the forecast period.
Elevated demand for low density polyethylene (LDPE) in
end-use industries such as edible & frozen foods, liquid packaging,
agriculture, electrical cables, and others is promoting market expansion for
low density polyethylene. LDPE is also used in liquid reservoirs, electrical
components, and upholstery among others. In addition to varied applications of
LDPE, the implementation of strict government regulations aimed at reducing
vehicular emissions, compel the automotive industry to shift to lightweight
plastics for a variety of uses. Thus the automotive industry is also expected
to contribute to low density polyethylene market growth.
Rising global market demands for LDPE are fueling the
incorporation of advanced low density polyethylene manufacturing techniques.
These techniques are expected to improve grade quality, reduce production
costs, lessen environmental impact, and thereby push manufacturers across the
world to optimize their production process. This has ensured the release of new
grades of LDPE in the market. All these factors are expected to promote market
growth and expansion of low density polyethylene.
Other factors driving the low density polyethylene
market are the closure of LDPE plants in Europe, capacity expansions in the
U.S., lower cost of feedstock, and developments in tubular reactor technology.
“Rising application of LDPE in films &
sheets and coatings, as well as various other end-use industries, will likely
supplement the market growth over the forecast period,” says an FMI
analyst.
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Key Takeaways:
- Advancements
in LDPE manufacturing techniques are expected to drive the market demand
over the forecast period.
- The
U.S. is expected to present lucrative market opportunities through 2029.
- Low
density polyethylene autoclave segment is anticipated to grow at a value
of 2.7% CAGR, over the forecast period.
- China
low density polyethylene market is predicted to reach US$ 12,830.9 Mn by
2029.
- By
application, films & sheets segment is expected to account for 68% of
overall market sales during 2022-2029.
Competitive Landscape
LyondellBasell Industries N.V., GE Analytical
Instruments, ExxonMobil Corporation, The Dow Chemical Company, Saudi Basic
Industries Corporation (SABIC), BASF-YPC Company Limited, Qatar Petrochemical
Company Q.S.C, LG Chem Ltd, DuPont de Nemours, Inc., Braskem S.A., and Formosa
Plastics Corporation among others are some of the manufacturers of low density
polyethylene profiled in the full version of the report.
Key players in the global low density polyethylene
market are focusing on penetrating new markets in emerging economies. These
organizations are improving their manufacturing capacities, increasing their
R&D investments, and employing tactics like mergers, acquisitions, and
strategic collaborations to gain a competitive advantage.
More Insights into the Low Density
Polyethylene Market Report
In its latest report, FMI offers an unbiased analysis
of the global low density polyethylene market, providing historical data from
2017 to 2021 and forecast statistics for the period 2022-to 2029. To understand
the global market potential, growth, and capacity, the market is segmented
based on technology (autoclave, tubular), application (films & sheets,
extrusion & coatings, injection moulding, others), and region.
Low Density Polyethylene Market Regional
Analysis
According to the latest report by FMI, the United
States is expected to account for a considerable portion of the global market.
The United States is likely to dominate the North American low density
polyethylene market with a significant value share in terms of consumption over
the assessment period.
Low-density polyethylene (LDPE) is a thermoplastic
polymer that is primarily derived from petrochemical feedstock. A highly
adaptable and durable material, it is available in translucent and opaque
varieties. It is popular in the packaging industry due to its flexibility,
chemical resistance, softness, and other properties. Furthermore, LDPE is
used in the food & beverage industry for packaging purposes. Rapid and
significant development in the packaging industry in the USA is anticipated to
supplement the market growth of LDPE. The U.S. LDPE market is expected to reach
about US$ 9,539.4 Mn by 2029.
Apart from the U.S. market, China LDPE market is
expected to show significant growth by reaching an estimated value of US$
12,830.9 Mn by 2029. In the last ten years, China’s demand for Low Density
Polyethylene (LDPE) has grown at a rapid pace.
The global packaging sector is quickly altering and
continuing to expand at a fast pace. This growth is being propelled by factors
such as rising food processing, pharma, FMCG, production, healthcare industry,
and auxiliary in emerging economies like China. The growing packaging industry
in China is predicted to strengthen the demand for low density polyethylene in
the upcoming years.
Low Density Polyethylene Market
Segmentation Analysis
According to the latest report by FMI, based on
technology, the low density polyethylene autoclave segment is expected to lead
the global market with a growth rate of 2.7% CAGR, over the forecast period.
LDPE is produced via two technologies- autoclave
reactor and tubular reactor. An autoclave reactor is a multi-zoned mixed
adiabatic vessel reactor, where reaction heat is removed by reactant only, and
a conversion up to 21% is achieved.
In an autoclave reactor, a lower operating pressure of
1,300–2,000 Bar is required, while a tubular reactor requires a higher
operating pressure of 2,500–3,200 Bar, which is expensive. Product grades from
autoclaves are good for extrusion coating and specialty applications. These
factors are responsible for the growth of the autoclave segment.
By application, the films & sheets segment is
leading the global LDPE market. LDPE is one of the three most commonly used
polyethylene grades. It has less toughness, stiffness, and strength, and is
more ductile. This plastic has a high density, tough construction, and long
functional life.
Because of its opacity, only fine foils can be
translucent and LDPE is widely used in the production of tubing, containers,
wash bottles, dispensing bottles, and moulded laboratory equipment. Its most
common usage is in plastic bags. LDPE membranes are widely used to prevent
liquid contamination. They serve as ideal liners, preventing contamination from
accessing groundwater sources and preventing seepage loss.
Thus, LDPE is popular in making films & sheets
which are further utilized in packaging, bags, LDPE rolls, and others. The
films & sheets segment is expected to account for over 68% of the total
sales of low density polyethylene in the global market.
Low Density Polyethylene Market by
Category
By Technology, the Low Density Polyethylene
Market is segmented as:
- Autoclave
- Tubular
By Application, the Low Density
Polyethylene Market is segmented as:
- Films
& Sheets
- Extrusion
Coatings
- Injection
Moulding
- Others
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Full Report: https://www.futuremarketinsights.com/reports/low-density-polyethylene-market
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