Ocean View, DE -- (SBWIRE) -- 04/27/2020 -- According to the new research report, Linear Low Density Polyethylene Market size was estimated at USD 37 billion in 2015 and is projected to surpass USD 60 billion by the year 2024.

Linear low density polyethylene market will grow at a moderate rate in the forecast period. The growth being attributed to vigorous increase in automotive, retail packaging, consumer goods and agriculture industries. In Europe, the market will register CAGR above 5% by 2024, due to technological advancements coupled with rapid industrialization.

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Asia Pacific covered about 45% share of linear low density polyethylene market in 2015 and will generate significant revenue over the years ahead. Increased spending on infrastructure development mainly across India and China will contribute to the industry growth. As per reliable estimates, in 2015, the total expenditure on construction activities across China and India was USD 1.75 trillion and USD 420 billion respectively. In addition, changing trends toward the consumption of packaged food across this region will fuel the product demand notably.

LLDPE products are utilized in films that find applications in concrete, subject to the property of moisture resistance, which will impel its usage across the construction sector. Films also help reduce soil erosion and provide protection against UV rays, which in turn will boost the usage of this product for agricultural purposes. Subject to the fact that films are heavily utilized across lucrative end-use sectors, this application segment is expected to cover more than 70% of linear low density polyethylene market by 2024.

Growth Drivers are –

- Increased adoption of packed food
- Growing construction sector
- Flourishing automobile industry

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North America linear low density polyethylene market will record an annual growth rate of 5% over the coming seven years. Emerging pharmaceutical and food & beverage sectors across this region will contribute to the growth of this market.

Moreover, the rising living standards and a well-established automotive base in the region will favor the food & beverage sector and automotive sectors, which will impel LLDPE market trends.

Linear Low Density Polyethylene Market By Application

o Films
o Injection molding
o Rotomolding
o Others

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Rotomolding is another lucrative application segment of linear low density polyethylene industry that collected a revenue of USD 4.4 billion in 2015, and will surpass a revenue generation of USD 6.9 billion by 2024. Owing to the economic benefits, this technique is extensively used across various sectors such as automotive, packaging, agriculture, furniture, and construction, which in turn, will augment the linear low density polyethylene industry growth.

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