ID: MRFR/CnM/5905-HCR | February 2021 | Region: Global | 140 pages
Low-density Polyethylene Market Overview:
The global market experts have published a thorough market research report on low density polyethylene market. The analysis report says that the low density polyethylene market size is expected to raise during the forecasting period of 2019-2029. The global low density polyethylene market growth is expected to raise at USD 38,183.7 million in 2019 & it is expected to increase at a CAGR of 5% during the estimated quarters of 2019-2029.
Low-density polyethylene is a thermoplastic material that is made under high pressure and has tensile strengths ranging from 0.910g/cc to 0.940g/cc. It has a high ductility as compared to low tensile strength. During the estimated period, the increased demand for low-density polyethylene in the construction, packaging, and automotive industries is likely to be the primary market growth which gives an opportunity to increase the stocks & investment shares for many business owners, competitors & investors across the world. The low-density polyethylene is non-toxic and non-contaminating, and resistant to impact, dampness, chemicals, rip, and stress fracture. Because of these characteristics, it is commonly used in the manufacture of packaging, garbage bins, floor tiles, mailing envelopes, and dropper bottles. Furthermore, the usage of low density polyethylene in the low density polyethylene market and the electrical insulating qualities have resulted in its growing utilization in a variety of end-use sectors across the world.
The high usage of low density polyethylene has been seen in the construction industry. Due to the new construction projects coming up everywhere, the global low density polyethylene market value demand for basic household accessories or products is expected to rise significantly. Maximum processing makes the maximum number of products of low density polyethylene through the injection and extrusion of molding. In the global low density polyethylene market sectors, the maximum focus is raised on the packaging of products. The overall worldwide retail sales were estimated at US$ 20 trillion in 2014 and are forecasted to reach USD 30.0 trillion - USD 30.5 trillion by 2020, at a CAGR of 6%. Low density polyethylene is used in the packaging and protective packaging of a wide range of items sold in retail shops. As a result, the global low density polyethylene market gains value. Due to the rise of the e-commerce market, maximum numbers of people want to buy the products online. The secure delivery of materials to clients is a primary issue for sellers in online commerce. Packaging of items purchased through e-commerce or online sources receives more attention than those sold through other channels. This reason is moving up global demand for the low density polyethylene market.
The impact of the global pandemic has placed a huge effect on the low density polyethylene market worldwide. Because of the lockdown measures implemented in various locations such as Asia-Pacific, North America, and others, the COVID 19 outbreak has had no effect on the low-density polyethylene business development. The stoppages in the production of low-density polyethylene, which is used in construction and automotive, have occurred as governments in numerous nations. The company's takes on remote working are expected to limit the expansion of the construction sector, so limiting the growth of the low-density polyethylene market.
Chief Factors Existing in the Market:
Cumulative Evaluation of the Market:
The worldwide construction sector is the world's largest raw material user. Construction for growth in various places worldwide is starting to enhance the low-density polyethylene market. The European construction sector is expanding rapidly as a result of cheap financing rates, strong economic development, and pointed demand. On the other side, the African construction sector has witnessed fast expansion. For example, Kenya is building a USD14.5 billion technology to attract technical geniuses and financiers to promote its economic growth.
The development of cost-effective competitors such as linear low-density polyethylene, polyethylene terephthalate, acrylonitrile butadiene styrene, and high-density polyethylene is slowing market growth. Waste plastic bags, on the other hand, damage the land and water and have undoubtedly become a serious risk to the lives of creatures living on land and in water. As a result, a plastic ban was implemented throughout the country, prohibiting the country from using single-use plastic in any way, which may restrict the growth of the low-density polyethylene industry.
According to the market segmentation, the low density polyethylene market is segmented into three main courses: technology, application, & region. The by technology section is divided into two categories like autoclave & tubular section. The application segment is further classified into four patterns: film & sheets, extrusion coating, injection molding, & others. In the by region categories, the low density polyethylene market is segmented into five main categories: North America, South America, Europe, Asia-Pacific, Middle East, & Africa.
Global Low-Density Polyethylene Market Share, by Application, 2017 (%)
Source: MRFR analysis
The global packaging industry is changing and increasing at a rapid rate. This development is being driven by increasing pharmaceutical, food processing, manufacturing, healthcare sector, and ancillary in emerging nations such as China, India, Brazil, Russia, and a few other East European countries. Food and beverage, electrical and electronics, packaging, and construction industries in Asia-Pacific are driving market expansion.
According to the Packaging Business Association of India, the packaging is the fifth biggest sector of the Indian economy. The Industry has shown consistent development over the last several years and has a strong potential for further expansion, particularly in the export market. In India, food processing and packaging prices may be up to 40% cheaper than in Europe, making it an interesting investment location when combined with India's educated labor pool. Almost all user sectors with substantial development potential, such as processed foods, hard and soft beverages, fruit, and marine goods, have plenty of room to expand. Because of all of these factors, the Asia-Pacific region's demand for low density polyethylene market is predicted to be strong over the projection period.
Competitive Intensity within the Industry:
The low-density polyethylene market is highly developed. Exxon Mobil Corporation, LyondellBasell Industries Holdings BV, Dow, LG Chem, and Chevron Phillips Chemical Company are among the market's key participants.
Recent Market Development:
The research report thoroughly analyzes the industry size, share, and growth areas. The Low-Density Polyethylene industry study focuses on the primary drivers and constraints for manufacturers and the current competitive situation and potential prospects. The low-density polyethylene market analysis is a thorough study of the industry's current status by professionals. The low-density polyethylene market trend analysis provides the most recent industry statistics as well as upcoming advancements, product types, and end-users that are driving revenue growth and profitability.
Key Industrial Segments:
By Product Type:
By Production Type:
By End-Use Industry:
|CAGR||Substantial CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||manufacturing process, application and region|
|Geographies Covered||Asia-Pacific, Europe, Latin America, North America and the Middle East & Africa|
|Key Vendors||Braskem (Brazil), Chevron Phillips Chemical Company (U.S.), INEOS (UK), Mitsui Chemicals, Inc. (Japan), Formosa Plastics Corporation, U.S.A (U.S.), Reliance Industries Limited (India), SABIC (Saudi Arabia), Sasol (South Africa), LyondellBasell Industries Holdings B.V. (The Netherlands) and China Petrochemical Corporation (China), DuPont (U.S.), Petkim Petrokimya Holding A.Ş (Turkey), Qatar Petrochemical Company (QAPCO) Q.P.J.S.C. (Qatar), Exxon Mobil Corporation (U.S.) and BASF SE (Germany)|
|Key Market Opportunities||Surge in demand for cables are projected to drive demand for low-density polyethylene during the assessment period.|
|Key Market Drivers||Growing demand for low density polyethylene in home appliances, packaging, pipe and cables are likely to propel the growth|
Frequently Asked Questions (FAQ) :
Europe will spearhead the low-density polyethylene market.
It finds extensive applications in injection molding, extrusion coating, and films & sheets.
Increasing use in pipe and cables, packaging, and home appliances is boosting market growth.
Key competitors in the low-density polyethylene market include BASF SE (Germany), Exxon Mobil Corporation (U.S.), Qatar Petrochemical Company (QAPCO) Q.P.J.S.C. (Qatar), Petkim Petrokimya Holding A.Ş (Turkey), DuPont (U.S.), China Petrochemical Corporation (China), LyondellBasell Industries Holdings B.V. (The Netherlands), Sasol (South Africa), SABIC (Saudi Arabia), Reliance Industries Limited (India), Formosa Plastics Corporation, U.S.A (U.S.), Mitsui Chemicals, Inc. (Japan), INEOS (UK), Chevron Phillips Chemical Company (U.S.), and Braskem (Brazil).
Different strategies incorporated by industry players to create a foothold in the low-density polyethylene market include collaborations, product developments, partnerships, and mergers.