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. 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
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.
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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 of these factors are expected to promote market growth and expansion of low density polyethylene.
Other factors driving the low density polyethylene market are the closure of LDPE plants in Europe, capacity expansions in the US, 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 US 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 NV, GE Analytical Instruments, ExxonMobil Corporation, The Dow Chemical Company, Saudi Basic Industries Corporation (SABIC), BASF-YPC Company Limited, Qatar Petrochemical Company QSC, LG Chem Ltd, DuPont de Nemours, Inc., Braskem SA, and Formosa Plastics Corporation among others are some of the manufacturers of low density polyethylene profiled in the full version of the report.
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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 RD investments, and employing tactics like mergers, acquisitions, and strategic collaborations to gain a competitive advantage.
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.
