Albany, NY -- (SBWIRE) -- 01/11/2019 -- A new report by Transparency Market Research (TMR) states that the competitive landscape of the global market for linear low-density polyethylene market exhibits fragmented structure due to small and large scale operating in this market. The prominent players of the linear low-density market are highly focused in enhancing the product quality through extensive research and development process. The study also includes key participants operating in the global low-density polyethylene market across the globe such as Exxon Mobil Corporation, Braskem S.A., China Petroleum & Chemical Corporation (Sinopec Corporation), Sasol Limited, LyondellBasell Industries N.V., Formosa Plastics Corporation, U.S.A. (Formosa Plastics), and The Dow Chemical Company. Increase usage of the linear low-density polyethylene for the household chores, agriculture, packaging and automotive is likely to strengthen the growth and to maintain their presence in this market. Major investment and development are the key strategies adopted by the player operating in the linear low-density polyethylene market.
According to TMR, the global market for linear low-density polyethylene is expected to exhibits touch worth of US$ 59,815 Mn in 2023 and from its primary worth of US$35.4 bn in 2014. This market is likely to expand at 6.0 %CAGR during the course of forecast period between 2015 till 2023.
Fluctuating Packaging Market in Asia Pacific Likely to Upsurge Demand of Linear Low-Density Polyethylene
The study also provide worldwide analysis of the global linear low-density polyethylene market based on its geographical spread around North America, Latin America, Europe and Middle East and Africa (MEA),and Asia Pacific. Among all the geographical segments, Asia Pacific is expected dominates the global market for linear low-density polyethylene in terms of highest market share in the overall market. The strong fluctuating packaging industries in the growing economies like India and China likely to boost demand of the linear low-density polyethylene market. Furthermore, Asia Pacific is likely to account for share of 40% in the overall market. Increasing rate of consumption in China, India and ASEAN is expected to bolster the growth of this market in near future.
Apart from this, the growth witnessed in the Latin America packaging industries is likely to upsurge the growth in near future. The Middle East and Africa is likely to be the most lucrative region for the adoption of the linear low-density polyethylene market.
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Film Segment Dominates the Market in Terms of its Usage
Increasing demand of the manufacturing more injection molding and rotomolding is expected to trigger the demand of this market in coming years. The usage of linear low-density polyethylene in various applications such as rotomolding, films, injection molding, pipes and conduits, wires and cables is another factor positively supporting the growth of this market. Of these segments, film segment account for share of 70% in the overall market. Also, the application segments exhibits steady growth rate of 5% CAGR in the overall market for linear low-density polyethylene. The linear low-density polyethylene is mainly used in the film production such as overwrap, heavy-duty bags, personal care film, lamination, agricultural films and stretch films. The vast usage of linear low-density polyethylene is expected to lead the growth. The major expansion of the flexible packaging industries is likely to boost the demand. However, increasing innovation and research by the key players expected to boost the demand of more application of the linear low-density market in near future.
For More Information Visit :https://globenewswire.com/news-release/2015/08/20/762110/10146682/en/Linear-Low-density-Polyethylene-LLDPE-Market-is-expected-to-reach-US-59-815-Mn-in-2023-Transparency-Market-Research.html
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