According to the latest report by IMARC Group, titled “Low-Density Polyethylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global low-density polyethylene market size reached US$ 33 Billion in 2018. 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 process. It is chemically inert and offers optimal tear and stress crack resistance and electrical insulating properties. Owing to these characteristics, LDPE has gained immense popularity across the globe.
Global Low-Density Polyethylene Market Trends:
Owing to its lower cost, excellent flexibility and high chemical resistance, low density polyethylene (LDPE) is used in various end-use industries across the globe. The growing usage of this material in the packaging industry is one of the most significant factors that are bolstering the growth of the market. It is used in the production of floor tiles, shipping envelopes, dropper bottles, tamper-evident, liners, trash bags, and films for food packaging and laminations. Also, LDPE-based compounds are utilized in jacketing and insulating materials for sheathing telecommunication cables as well as wire and cable applications. Besides this, due to its low water absorption and plasticity, low density polyethylene is extensively used in the pipes and fittings industry. Moreover, with rising environmental concerns, the demand for LDPE is increasing as these products are non-toxic and renewable in nature and can be recycled under certain conditions. Looking forward, the market value is projected to reach US$ 41 Billion by 2024, exhibiting a CAGR of nearly 4% during 2019-2024.
- The report has analyzed the market according to the feedstock, which includes natural gas, naptha and others.
- On the basis of the application, the market has been segregated into films and sheets, extrusion coatings, injection molding and others.
- On the geographical front, the market has been classified into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also 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.?., Total Petrochemicals & Refining USA, Inc. (TPRI), LG Chem Ltd., Formosa Plastics Corporation and Qatar Petrochemical Company (QAPCO).
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