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Linear Low-Density Polyethylene (LLDPE) Market is Expected to Clock a Notable A CAGR of 7.24% and Reach by 2055

bhagyashri shewale
Published on Sep 01, 2023

The global Linear Low-Density Polyethylene (LLDPE) market size was USD 71,286.83 Million in 2022 and is expected to register a rapid revenue CAGR of 7.24% during the forecast period. Rising use of lightweight packaging materials and films and demand from various end-use industries and increasing construction activities worldwide, particularly in emerging economies are key factors driving market revenue growth.

Linear Low Density Polyethylene (LLDPE), a commonly used polyethylene in the packaging industry, is in high demand due to their excellent properties and increasing need for flexible packaging solutions. Major end-use industries of LLDPE include Food & Beverages (F&B), pharmaceuticals, personal care, and consumer goods. LLDPE offers excellent tensile strength, puncture resistance, and moisture barrier properties, making it ideal for packaging applications. In addition increasing population, changing lifestyles, and increasing disposable income in emerging economies is increasing need for packaged food and consumer goods, which in turn, is driving revenue growth of the market.

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Europe has been a dominant automobile market, with significant OEM and other automotive suppliers based in Germany and Sweden. The region is likely to see growth in telecommunication, meat packaging, electronics, and automobile industries in the upcoming years, with a forecasted CAGR of 5.5%. The Asia Pacific region is expected to have the highest CAGR of 5.8% during the forecast period, driven by accelerated industrialization in developing economies, growth in electronics, automobiles, oil & natural gas, textiles, and production industries, and increased consumption of the product due to organized retailing and quickly growing e-commerce in Thailand, India, and Malaysia.

Various players in the industry are developing strategies to mark their presence, such as Braskem's green PE made from ethanol sugarcane, a renewable raw material. The green PE catches and fixes carbon dioxide from the atmosphere during its creation, thereby decreasing the discharge of GHG.

The key players in the LLDPE market include The Dow Chemical Company, Mitsui and Westlake, Exxon Mobil Corporation, INEOS Group AG, Chevron Phillips Chemical Company LLC, Saudi Basic Industries Corporation (SABIC), Borealis AG, Mitsubishi Chemicals, Nova Chemicals Corporation, LyondeBassells Industries N.V., and Braskem S.A.

Reports and Data have segmented the market on the basis of Process, End User, Application, and region, which include Gas Phase, Slurry Loop, Solution Phase, Packaging, Building and Construction, Automotive, Electrical and Electronics, Films, Injection Molding, Rotomolding, Extrusion Moulding, North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Linear Low-Density Polyethylene (LLDPE) Market: Drive factors

The Linear Low-Density Polyethylene (LLDPE) market is expected to witness significant growth, reaching USD 85.95 billion by 2028, with a CAGR of 5.0% during the forecast period, according to a report by Reports and Data. LLDPE is extensively used in various applications such as injection molding, films, and roto-molding, among others, and in end-user industries such as construction, packaging, marine, agriculture, automotive, housewares, and toys. The report suggests that the market in the North America region accounts for the second-largest share of 21.3% in 2018, and the European region is expected to observe a CAGR of 5.5% during the forecast period. Furthermore, the market in the Asia Pacific region is expected to witness the highest CAGR of 5.8% during the forecast period, owing to accelerated industrialization in the region due to growing electronics, automobiles, oil & natural gas, textiles, and production industries in developing economies. The report identifies key players in the market, including The Dow Chemical Company, Mitsui and Westlake, Exxon Mobil Corporation, INEOS Group AG, Chevron Phillips Chemical Company LLC, Saudi Basic Industries Corporation (SABIC), Borealis AG, Mitsubishi Chemicals, Nova Chemicals Corporation, LyondeBassells Industries N.V., and Braskem S.A., who are developing strategies to mark their presence in the industry. Additionally, players like Braskem have designed green PE from ethanol sugarcane, a renewable raw material that catches and fixes carbon dioxide from the atmosphere during its creation, thereby decreasing the discharge of GHG.

Linear Low-Density Polyethylene (LLDPE) Market: Notable Innovation

One notable innovation in the Linear Low-Density Polyethylene (LLDPE) market is the development of green PE by Braskem, which is made from ethanol sugarcane, a renewable raw material. This type of green PE captures and fixes carbon dioxide from the atmosphere during its production, thereby reducing greenhouse gas emissions. Other players in the market are also developing strategies to establish their presence in the industry.

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