Northbrook, IL -- (SBWIRE) -- 04/15/2018 -- The market has been segmented on the basis of application, process type, and region. The availability of plastic products at affordable rates and rise in demand for packaging materials have contributed to the increased consumption of LLDPE products in various applications.

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The films application segment is projected to lead the LLDPE market during the forecast period.

Based on application, the LLDPE market has been segmented into films, injection molding, rotomolding, and others (wires & cables, pipes & panels, and extrusion coating). The films application segment is estimated to account for the largest share of the LLDPE market in 2017, in terms of volume. LLDPE films are used in various end-use industries, such as food & beverage packaging, automotive, and building & construction.

Properties of LLDPE films include good rigidity-to-thickness ratio, improved toughness, high moisture and chemical resistance, and excellent moisture barrier properties. The unique properties of LLDPE films, coupled with their widespread applicability, have contributed to the growth of the films segment of the LLDPE market.

The gas phase segment is the largest process type segment of the LLDPE market.

Based on process type, the gas phase segment is projected to lead the LLDPE market from 2017 to 2022. LLDPE resins manufactured by the gas phase process have high tensile strength and are used in various industrial products, such as custom marine parts, water tanks, and chemical storage containers as well as consumer products, such as food packaging materials, heavy-duty sacks, and stretch films.

Asia Pacific is the fastest-growing regional segment of the LLDPE market.

The LLDPE market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The growth of the LLDPE market in this region can be attributed to the increasing demand for LLDPE resins from various end-use industries, such as packaging, solar energy, and automotive. Asia Pacific is a key consumer of LLDPE resins, followed by North America and Europe. The expansion of the plastics industry and increase in demand for packaging materials, especially from China, India, South Korea, and Malaysia have contributed to the growth of the LLDPE market in the Asia Pacific region.

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Leading players operating in the LLDPE market include Sinopec (China), LyondellBasell (Netherlands), Exxon Mobil (US), SABIC (Saudi Arabia), The Dow Chemical Company (US), Borealis (Austria), Formosa Plastics (Taiwan), China Petrochemical Corporation (China), INEOS (Switzerland), and Westlake Chemical (US).

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