Linear Low-density Polyethylene Market to Reach US$ 70,183.5 Mn by 2026
Global Linear Low-density Polyethylene Market was valued at US$ 43,974 Mn in 2017 and is anticipated to expand at a CAGR of 5.34% from 2018 to 2026.
The global linear low density polyethylene market is anticipated to grow at a healthy rate over the forecast period between 2018 to 2026, elucidates an upcoming Transparency Market Research (TMR) report.
The global low density polyethylene market was estimated at US$ 43,974mn in 2017 and the same is expected to grow at a substantial rate during the forecast period. The linear low density polyethylene market is expected to expand at a healthy rate.
On the basis of process, the global linear low density polyethylene market is segmented into gas phase, slurry loop, and solutions phase. Out of all these, gas phase is projected to dominate the market due to low reaction time, low temperature, and cost benefits.
Packaging Sector to Provide Impetus to Linear Low Density Polyethylene Market
The packaging industry uses linear low density polyethylene at a large scale as most of the packaging products are made using LLDPE. This might act as a catalyst in the expansion of the global linear low density polyethylene market.
Linear low density polyethylene offer excellent seal -ability. Low production cost, high clarity, longer chain branching, and softness. These properties make them a viable product for packaging, thus, may aid in the growth opportunities of the global linear low density polyethylene market in the upcoming years.
Extruded packaging films of linear low density polyethylene offers high stretch and low shrinking properties. These also provide durability and thickness to the products. This results in the growth of the global linear low density polyethylene market. This kind of packaging are used in wrapping cans and water bottles, aiding in the market growth.
Additionally, the zip lock bags, flat poly bags, and poly tubes also use linear low polyethylene for wrapping the products. This may aid in the growth opportunities of the global linear low density polyethylene market.
Some containers may use and other products such as squeezable bottles use LLDPE for clarity and thickness. This might help in the expansion of the linear low density polyethylene market over the forecast years.
The rising environment concerns over non biodegradability and volatile raw materials costs are expected to dampen the global linear low density polyethylene market during the forecast period. Nevertheless, its tensile and durability properties may continue to boost the demand from various end users including automobile industry. As a result, the global liner low density polyethylene market may expand over the forecast period.
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Asia Pacific to Lead Linear Low Density Polyethylene Market
On the basis of geography, the global linear low density polyethylene market is expected to be dominated by Asia Pacific during the forecast years. This is primarily because this region is a major producer of LLDPE and there is a high demand for it because of rapid industrialization.
Simultaneously, North America and Middle East are also projected to emerge as a lucrative market due to high demand for packed and canned food products. This could result in the growth avenues of the global linear low density polyethylene market in the upcoming years.
The prominent players in the global linear low density polyethylene market include Saudi Basic Industries Corporation (SABIC), ExxonMobil Corporation, China Petroleum & Chemical Corporation (SINOPEC), Reliance Industries Limited, Westlake, and DowDuPont. The competition in the market is high due to the presence of many players including small sized companies across the globe.
This review is based on the findings of a TMR report titled, “Linear Low-density Polyethylene Market (Process Type - Gas Phase, Solution Phase, Slurry Loop; Application - Rotomolding, Films, Injection Molding; End Use Industry - Packaging, Building and Construction, Automotive, Electrical and Electronics, Agriculture, Household, Leisure and Sports)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
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