Sellbyville, DE -- (SBWIRE) -- 11/12/2018 -- GMI presents a most up-to-date research on "Linear Low Density Polyethylene (LLDPE) Market – Global Industry Analysis, Size, Share, Application (Films, Injection Molding, Rotomolding), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC) and Forecast 2017 – 2024".

Linear Low Density Polyethylene (LLDPE) Market size will cross USD 60 billion by 2024 according to a new research report by Global Market Insights, Inc. LLDPE market is projected to grow at a moderate rate and the growth is extensively attributed to robust increase in retail packaging, automotive, agriculture and other consumer goods. Global packaging industry is set to cross USD 1 trillion by 2024, with its major usage in paper & board sector. Innovation in processed food and beverages products packaging designs is taking place as leading brands such as Cadburry, Nestle etc. are setting a global benchmark for different package formats.

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LLDPE demand as a substitute for other polyethylene grades such as LDPE and HDPE is increasing, owing to better physical and chemical properties of the product. The polymer is extensively used in canal lining, hazardous waste liners, mining, packaging industry, and geomembrane liners. Increasing application avenues of the product is set to accelerate its market at a substantial pace.

LLDPE is also used in manufacturing bags and sacks due to growing demand for rigid posture and excellent finish in final products. It is also increasingly used for other applications such as injection molding, a plastic component manufacturing process. This process is used to produce bottle caps, automotive dashboards, pocket combs, and wire spools. Growing injection molding adoption in the manufacturing industry coupled with rising applications of this technology augments linear low density polyethylene market.

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Asia Pacific is estimated to be the largest share observer for LLDPE market in 2024. Robust industrialization in the region due to thriving textiles, oil & natural gas, automobiles, manufacturing and electronics industries in the regional economies will encourage the construction spending and will boost market growth. Rapidly expanding Indian e-commerce and organized retailing will also contribute to the market growth. Malaysia and Thailand are strengthening the packaging industry which will consequently increase the regional product consumption.

North America will have a share over USD 7.5 billion by 2024. The regional market is led by U.S., having an established web of pharmaceutical companies. These will need LLDPE films for medical packaging. The construction spending in U.S. is predicted to grow over 6% CAGR by 2024 particularly due to its infrastructural development.

Europe has been a prevalent automobile market globally with major OEM and other automotive suppliers based in Sweden, Germany etc. The region is likely to observe rise in meat packaging, telecommunication, automobile, and electronics industries in the coming years.

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Key market players are Reliance Industries, LyondeBassells Industries N.V., The Dow Chemical Company, Nova Chemicals Corporation, Saudi Basic Industries Corporation (SABIC), China Petroleum & Chemical Corporation (Sinopec Corporation), INEOS Group AG, CNPC, Exxon Mobil Corporation, Borealis AG, Sasol Limited, Mitsui and Westlake, Mitsubishi Chemicals, Chevron Phillips Chemical Company LLC, and Braskem S.A.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.