The market for low-density polyethylene (LDPE) is anticipated to register a decent CAGR during the forecast period ranging from 2020 to 2030. Increasing demand for flexible packaging, from various end-user industries, is expected to drive the demand for the market during the forecast period. The demand for a substitute, such as LLDPE and HDPE, in the regions, such as North America, Europe, etc., is likely to hinder the market studied. Increasing demand for LDPE in the pharmaceutical industry is likely to act as an opportunity for the market studied, in the future. The Asia-Pacific region dominated the global market, with the largest consumption recorded.
The competitive landscape of the global low density polyethylene market is fragmented. The fragmentation is due to the presence of several key players operating in the market space. These notable players are concentrating developing new and innovative products that will cater to the increasing demands from the end user industries. In addition to this, in recent years, there has been a growing investments and funding from the companies. This too is expected to help the expansion of the competitive landscape of the global low density polyethylene market in the coming years of the forecast period.
Some of the key players in the global low density polyethylene market are Exxon Mobil Corporation, LyondellBasell, Dow, LG Chem, Chevron Phillips Chemical Company, etc.
There are several factors for the growth of the global low density polyethylene market. One of the key driving factor for the market growth has been increasing demand from the end user industries. Low density polyethylene has multiple properties such as chemical resistance, flexibility, and softness among others. Such properties make low density polyethylene highly usable in for prominent industries such as electronics, electrical, and packaging among others. Hence, the demand is high from these industries.
Another important driving factor for the growth of the global low density polyethylene market is its application in the food and beverages industry. It can hold products without emitting harmful substances.
However, there are some factors that might impede the growth of the global low density polyethylene market in the coming years of the forecast period ranging from 2020 to 2030. One of the key restraining factors for the market has been the increasing usage of HDPE in the developed countries such as United States.
The global low density polyethylene market is segmented into five key regions based on the geographical outlook. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the global market for low density polyethylene is projected to be dominated by the regional segment of Asia Pacific. The growth of the regional segment is primarily driven by the increasing demand from the packaging industry, in nations such as Japan, India, and China. The food & beverages, and packaging industries in Asia Pacific are also helping to drive the market. China is projected to become the biggest consumer of packaging in the Asia Pacific region. In addition to this, growth in the lightweight packaging in different industries such as electronics, healthcare, and food & beverages are also projected to help the overall development of the Asia Pacific region. The increase in lightweight packaging in industries, such as electronics, healthcare, and food and beverages, in the region is driving the growth of the market studied.
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