Recent News
April 2019
Huhtamaki, a good and drink
packaging company, has launched its latest recyclable flexible packaging range
called blueloop. It is made using low-density polyethylene (PE), in addition to
mono-material Polypropylene (PP) and paper. These solutions are perfect for
snacks, coffee, personal care, dry food, along with various other fast-moving
consumer goods.
Market Overview
The global low-density
polyethylene market was estimated at USD 29.78 billion in 2017, says Market
Research Future (MRFR). The market is expanding at a robust growth rate during
the forecast period (2018–2023).
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.
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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.
Key Players
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.
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 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.
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.
Making similar strides in the
global low-density polyethylene market are the regions of North America and
Latin America, set to grow significantly during the conjectured time frame.
Accelerated demand in the consumer good applications will also do wonders for
the market.
Lastly, the LDPE market in the
Middle East & Africa will be observing moderate but steady growth throughout
the review period. There is an increase in the expenditure on retail and
consumer goods industry in the countries like UAE and Saudi Arabia, shifting
the economy from oil based to consumer based. This factor will mostly likely be
a simulative factor backing the market growth in the region.
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