According to the latest report by IMARC Group, titled “Low Density Polyethylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global low density polyethylene market size reached US$ 34 Billion in 2019. Low Density Polyethylene (LDPE) is one of the oldest and most popular thermoplastic materials that are available in the market. It is a semi-rigid and translucent polymer composed of 4,000 to 40,000 carbon atoms. LDPE is formed at high pressure through the free radical polymerization of ethylene. In recent years, LDPE has gained immense preference across the globe on account of its favorable properties, such as electrical insulation, chemical inertness, and optimal tear and stress crack resistance.
Global Low Density Polyethylene Market Trends:
LDPE finds application in various end use industries across the globe, owing to its lower cost, excellent flexibility and high chemical resistance. It is widely used in the production of floor tiles, shipping envelopes, dropper bottles, liners, trash bags, and films for food packaging and laminations. Also, LDPE-based compounds are utilized in jacketing and insulating materials for sheathing cables and wires. Besides this, due to its low water absorption and plasticity, LDPE is extensively used in pipes and fittings. Apart from this, with rising environmental concerns, the governments of various countries are changing the regulatory requirements concerning the efficiency of construction activities. As a result of this, the demand for LDPE is projected to rise, as it is non-toxic, renewable in nature, requires lower amounts of energy during manufacturing and can be recycled under certain conditions. Looking forward, IMARC Group expects the market value to reach US$ 43 Billion by 2025, at a CAGR of 3.8% during the forecast period (2020-2025).
- Based on the manufacturing process, the market has been bifurcated into the autoclave and tubular methods.
- On the basis of the feedstock, the market has been segregated into natural gas, naptha and others.
- The market has been categorized based on the application into films and sheets, extrusion coatings, injection molding and others. Films and sheets currently represent the largest segment.
- Region-wise, Asia Pacific exhibits a clear dominance in the market. Other major regions are North America, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined, with some of the key players being BASF SA, Dow Chemical, Exxon Mobil Corporation, LyondellBasell Industries N.V., Saudi Arabia Basic Industries Corp. (SABIC), Sinopec Corporation, Borealis AG, Braskem SA, Chevron Phillips Chemical, DuPont de Nemours, Lone Star Chemical, Petkim Petrokimya Holding A.S., Total Petrochemicals & Refining USA, Inc. (TPRI), LG Chem Ltd., Formosa Plastics Corporation and Qatar Petrochemical Company (QAPCO).
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