NEWARK, Del, July 27, 2022 (GLOBE NEWSWIRE) -- 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.
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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.
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.
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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.
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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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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
3. Market Background
3.1. Macro-Economic Factors
3.2. Forecast Factors - Relevance & Impact
3.3. Value Chain
3.4. Market Dynamics
4. Global Low Density Polyethylene Market Demand Analysis 2014-2021 and Forecast, 2022-2029
4.1. Historical Market Volume (Units) Analysis, 2014-2021
4.2. Current and Future Market Volume (Units) Projections, 2022-2029
4.3. Y-o-Y Growth Trend Analysis
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