Global Linear Low Density Polyethylenes Market Information: By Application (Packaging Films, Injection Moulding, Extrusion Moulding, Rotomolding, Profile Extrusion, Others), End Use Industries (Plastic Processing, Electrical& Electronics, Automotive, Others), and Process Type (Gas Phase, Solution Phase, Slurry Phase), And Region - Forecast Till 2023
Pune, India -- (SBWIRE) -- 08/30/2018 -- The Global Linear Low-Density Polyethylene Market is segmented by Application, Process Type, End-Use Industries and Region.
The market for LLDPE is categorized on the basis of its use in the following application mainly, packaging film, injection moulding, extrusion coating, rotomolding, profile extrusion, and others. The packaging film is likely to lead the global market in terms of market share on account of its increasing application in the food & beverage, pharmaceuticals, and other industries. Rotomolding is the fastest growing application segment in LLDPE market. Additionally, the growing concerns for water conservation increased the production of water treatment, water storage, and chemical storage tanks.
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The process to obtain LLDPE by Polymerizations of butane, octane, and hexane is broadly segmented into the gas phase, solution phase, and slurry phase. The most commonly used process for manufacturing of LLDPE is a gas phase. The gas phase process is considered to be cost-effective and highly efficient in the production of LLDPE resins owing to high tensile strength, which is tailwinds for the food packaging industry.
The global market for LLDPE is driven by various end-use industries such as automotive, electrical & electronics, housewares products, and plastic processing. The majority of LLDPE is used in plastic processing and food packaging industry. The rising trend of stretching/flexible films attributed to the key properties such as extended shelf life and enhanced flavors. Moreover, the growing concerns over climate change attracted a huge demand from the agriculture sector for LLDPE made greenhouse films. The characteristics of high thermal resistance find its application in the production of various electronic, automotive components such as switches, plugs, and other electrical products. Furthermore, the increasing demand for flexible packaging films in housewares products and paperboard packaging film in liquid containers are likely to propel the demand for the product in the market.
Some of the major competitors in the Global LLDPE Market are Exxon Mobil Corporation (U.S.), Braskem (Brazil), lyondellBasell Industries Holdings B.V. (Netherland), NOVA Chemicals Corporation (Canada), Mitsubishi Chemicals Corporation (Tokyo), Chevron Phillips Chemical Company (U.S.), Borealis AG. (Austria), and the Dow Chemical Company LLC (U.S.).
North America is the leading the Global LLDPE Market in terms of consumption & production due to high domestic demand for packaging films from the food industry and high exports of finished goods.
Asia Pacific is the fastest growing market for LLDPE due to the increased investment in the production of polyethylenes. The growing urban population and disposable income have fueled the demand for packaged goods in the region. Furthermore, the growing concerns among consumers for low cost and efficient, flexible packaging is expected to propel the demand for LLDPE in the market.
Europe is another significant market for LLDPE due to increasing trend of fast & convenient food deliverables in the market. Europe is leading the automobile export market globally owing to the growing rotomolding application, which, in turn, increases the demand for LLDPE. This has increased the production of automobiles in the region.
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