Global Linear Low-density Polyethylene (LLDPE) Market: Snapshot
The global linear low-density polyethylene (LLDPE) market is anticipated to exhibit high growth rate during the forecast period 2015-2023 due to increasing applications in household products, packaging, automotive, and agriculture segments. LLDPE has enhanced mechanical properties such as impact resistance and high tensile strength. It is a substantially linear polymer produced by copolymerization of ethylene with longer-chain olefins and has significant numbers of short branches. Gas-phase polymerization and solution polymerization are two primary techniques used in the manufacture of LLDPE.
It is estimated that the global market for LLDPE will reach the value of US$59.8 bn in 2023 from its initial value of US$35.4 bn in 2014. The market is expected to expand at a steady CAGR of 6.0% over the forecast period 2015-2023.
Films Segment Emerges Dominant Due to Increasing Applications in Packaging Industry
Linear low-density polyethylene is used in applications such as pipes and conduits, sheets, wires and cables, rotomolding, injection molding, and films. Among these, the films segment held dominance, accounting for more than 70% share in the overall market in 2014. Furthermore, this application segment is anticipated exhibit a steady CAGR of 5% over the forecast period. LLDPE resins are used for blown and cast films to make them puncture, tear, and high impact resistant. LLDPE is used for the production of films such as overwrap, heavy-duty bags, personal care film, lamination, heavy-duty sacks, stretch films, and agricultural films. These films are utilized in end-user industries such as toys, marine, housewares, automotive, construction, agriculture, and packaging. The massive expansion of the flexible packaging industry is further expected to help the films segment to expand with higher rate.
The rising demand for LLDPE in manufacturing of rotomolding and injection molding is most likely to boost the market growth over the forecast period. Moreover, prominent players are innovating their products resulting in increasing number of applications of linear low-density polyethelene.
Asia Pacific leads the Market Owing to Expansion of Flexible Packaging Market
On the basis of geography, the global market can be segmented into the Middle East & Africa (MEA), Latin America, Asia Pacific, Europe, and North America. Considering volume sold, Asia Pacific contributed the major share in the overall market in 2014. The robust flexible packaging industry in the developing countries such as China and India is leading to the proliferation of the LLDPE market over this region. In 2014, Asia Pacific accounted for more than 40% share of the global market. Furthermore, it is anticipated that this region will showcase highest rate of growth over the forecast period owing to increasing consumption of LLDPR in India, China, and ASEAN. Increasing demand for films in the agriculture industry and growth in the flexible packaging industry are most likely to help this market gain momentum in the coming years.
In addition, Latin America is anticipated to show high demand for LLDPE due to growth witnessed in the region’s packaging industry. The Europe LLDPE market is expected to show a moderate growth due to sustained growth of economy. The Middle East and Africa segment is projected to demonstrate an impressive rate of growth in near future.
Key players in this market are constantly improving their product quality through extensive research and development. Some of the prominent companies operating in this market are Braskem S.A., Sasol Limited, NOVA Chemicals Corporation, Chevron Phillips Chemical Company LLC, INEOS Group AG, China Petroleum & Chemical Corporation (Sinopec Corporation), Formosa Plastics Corporation, U.S.A. (Formosa Plastics), Borealis AG, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries N.V., The Dow Chemical Company, and Exxon Mobil Corporation.
- Injection molding
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA