Portland, OR, Oct. 06, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Europe LDPE and LLDPE industry generated $10.4 billion in 2019, and is expected to reach $16.8 billion by 2027, witnessing a CAGR of 6.1% from 2020 to 2027. The report provides a detailed analysis of changing market trends, market size & estimations, key winning segments, top segments, value chain, and competitive scenario.
Rise in demand from the packaging industry and increase in demand for LDPE and LLDPE films from the agricultural industry drive the growth of the Europe LDPE and LLDPE market. However, the ban on single-use plastic bags by 2022 would restrain the market growth. On the other hand, integration of recycled LDPE and LLDPE to advance circular plastics economy is expected to present new opportunities in the coming years.
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Covid-19 Scenario:
- As there have been operational and economic disruptions in the packaging industry, which is the largest consumer of LDPE and LLDPE, the demand has reduced significantly.
- Lockdown measures taken in many countries hampered the demand for food and beverages as tourism activities were shut down. Moreover, hotels, restaurants, and cafes were also closed, which in turn, affected the demand.
- However, the demand for LDPE and LLDPE for manufacturing packaging materials for liquid soaps, sanitizers, and disinfectants increased considerably.
- Construction activities were banned during the lockdown in many countries. The demand for LDPE and LLDPE is lowered. However, as construction projects began in the post-lockdown period, the demand would take off.
The report provides a detailed segmentation of the Europe LDPE and LLDPE market based on country, type, and application.
Based on type, the LLDPE segment contributed to more than four-fifths of the total share in 2019, and is expected to continue its lead position in terms of revenue throughout the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 6.3% from 2020 to 2027. The report also analyzes the LDPE segment.
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Based on application, the packaging segment accounted for the highest market share with more than half of the Europe LDPE and LLDPE market share in 2019, and is expected to maintain its leadership status throughout the forecast period. Moreover, this segment is estimated to witness the highest CAGR of 6.9% during the forecast period. The report offers a detailed analysis of segments such as agriculture, construction, geomembranes, and others.
Based on country, France accounted for the largest market share with nearly one-fourth of the total market share in 2019, and is expected to maintain its lead position by 2027. However, the U.K. is projected to portray the highest CAGR of 9.6% from 2020 to 2027.
Leading players of the Europe LDPE and LLDPE market include Agriplast SpA, Chevron Corporation, Braskem S.A., Exxon Mobil Corporation, Dow Inc., Ineos Group Holdings S.A., Flex Polymers, Mitsubishi Chemical Holdings, LyondellBasell Industries Holdings B.V., and Nova Chemicals Corporation.
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