Linear Low-density Polyethylene Market to Expand with Significant CAGR | 2026
The
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, according to a new report titled ‘Linear
Low-density Polyethylene Market: Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast, 2018–2026,’ published by
Transparency Market Research (TMR). The global linear low-density
polyethylene market is driven by rise in the demand for retail
packaging, agricultural films, and consumer goods. In terms of
production and demand, Asia Pacific accounts for a dominant share of
the global market.
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Rapidly
Expanding Flexible Packaging Industry Projected to Boost Market
High
popularity of flexible packaging and films for use in packaging is
largely attributable to several technological developments that have
been made in the field of flexible packaging. Linear low-density
polyethylene is used in flexible packaging applications due to its
high flexibility, good low?temperature performance, excellent
durability and high barrier to moisture. Linear low-density
polyethylene has higher tensile strength than LDPE and it exhibits
higher resistance to impact and puncture than LDPE and HDPE. LLDPE
has several physical characteristics that make it perfectly suitable
for use in the production of flexible packaging. These
characteristics include light weight, resistance to chemical
reactants, and malleability. The ability of LLDPE to be stretched
into thin coatings and sheets is thus crucial, as flexible packaging
requires tensile materials. This trend of utilizing LLDPE in
packaging is a major driver of the global linear low-density
polyethylene market.
Low
Recyclability, Environmental Concerns, and Volatility in Prices of
Raw Materials Hampering Linear Low-density Polyethylene Market
Several
countries do not have an established waste collection and sorting
system for solid waste. Collection and sorting of plastic waste is
the first and crucial step in plastic recycling. Manufacturers of
plastic products add several additives, pigments, modifiers, and
fillers in order to induce properties such as high density,
elasticity, rigidity, and color in products. However, these additives
create issues while recycling. This, in turn, results in poor quality
of recycled plastics. Prices of oil and gas directly affect plastic
manufacturing costs. Volatility in prices of oil and gas affect the
cost of raw materials required for virgin plastic production. Most
plastics are non-biodegradable and remain in the environment for
several decades. Hence, various regulatory legislations have been
imposed on the manufacture of plastics and their usage in different
end-user industries so as to regulate production of plastics and
plastic waste. Thus, the plastics industry is estimated be hampered
by strict government regulations and recyclability issues in the next
few years.
Gas
Phase Segment to Dominate Global Linear Low-density Polyethylene
Market
Based
on process type, the global linear low-density polyethylene market
has been classified into gas phase, solution phase, and slurry loop.
Gas phase is the dominant segment of the global market. It is
anticipated to expand at a rapid pace during the forecast period. The
gas phase process offers several advantages such as it has low
initial installation costs, low temperature, and low reaction time.
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Films
Application Segment to Lead Market
In
terms of application, the global linear low-density polyethylene
market has been segmented into rotomolding, films, injection molding,
and others (including metal coating, extrusion, and masterbatches).
The films segment accounted for a major share of the global linear
low-density polyethylene market in 2017. The segment is estimated to
expand rapidly during the forecast period. The key driver of the
segment is high demand for LLDPE from the flexible food packaging
industry. LLDPE films are also used in the construction industry due
to their thermal and water barrier properties.
Packaging
to be Dominant End-use Industry Segment
Based
on end-use industry, the global linear low-density polyethylene
market has been segregated into packaging, building &
construction, automotive, electrical & electronics, agriculture,
household, leisure and sports, and others. The others segment
comprises electric appliances, medical equipment, and furniture. The
packaging segment has been sub-segmented into food and non-food
packaging. Among end-use industries, packaging is the dominant
segment, due to rise in the demand from retail packaging and consumer
goods sectors.
Asia
Pacific Dominates Global Linear Low-density Polyethylene Market
Based
on region, the global linear low-density polyethylene market can be
divided into North America, Europe, Asia Pacific, Middle East &
Africa, and Latin America. In terms of demand, Asia Pacific held a
leading share of the global linear low-density polyethylene market in
2017. The region is a major producer of linear low-density
polyethylene. Middle East & Africa and North America are other
significant consumers of linear low-density polyethylene. The linear
low-density polyethylene market in Latin America and Europe is
anticipated to expand at a sluggish to moderate pace during the
forecast period. Demand for linear low-density polyethylene in these
regions is estimated to rise in the next few years, owing to rise in
the demand for canned food products led by increase in population and
growth of urbanization. Demand for linear low-density polyethylene in
Middle East & Africa and Latin America is estimated to rise
significantly in the near future. These two regions accounted for a
low share of the global linear low-density polyethylene market, in
terms of demand, in 2017. However, these regions are projected to
present lucrative opportunities to the linear low-density
polyethylene market during the forecast period.
Key
Players in Linear Low-density Polyethylene Market
The
competition in the linear low-density polyethylene market in China is
high, due to presence of a large number of players producing linear
low-density polyethylene in the country. Key players operating in the
global market include ExxonMobil Corporation, DowDuPont, Westlake
Chemical Corporation, Saudi Basic Industries Corporation (SABIC),
China Petroleum & Chemical Corporation (SINOPEC), and Reliance
Industries Limited.
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