The overall linear low density polyethylene market is gaining momentum as the leading brands such as Nestle and Cadbury are setting a benchmark for innovative packaging formats and product packaging designs. The global packaging industry is foreseen to surpass USD 1 trillion by 2024, and is so far been the major factor driving the LLDPE industry growth. According to Global Market Insights, Inc., “Linear low-density polyethylene market is set to register a CAGR of 6% over the period of 2016-2024.”
Asia pacific LLDPE market is gaining considerable traction, owing to the rapid growth of textiles, oil & gas, automobiles, electronics, and manufacturing industries in developing countries. Moreover, the swift expansion of e-commerce and packed food adoption in Malaysia, India, and Thailand will generate heavy demand form the packaging sector, which in turn is fueling the consumption of LLDPE product.
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LLDPE market in films application is estimated to see a noticeable surge as it finds usage in food packaging, moisture resistance in the concrete structures, and also in the prevention of soil erosion in agriculture. LLPDE films application in the manufacturing of sacks & bags has also contributed to the market growth. Injection molding is used for manufacturing plastic items such as bottle caps, wire spools, pocket combs, and automotive dashboards. This application in the linear low density polyethylene market accounted for a volume of 2500 kilo tons in 2015, and is set to witness a significant surge.
Rotomolding is another lucrative application in the LLPDE industry, which collected revenue worth USD 4.4 billion in 2015 and is anticipated to grow with target market size slated to reach USD 6.9 billion by 2024.
Europe has witnessed a major adoption of LLDPE in the rotomolding application as this technology is more cost-effective than injection molding. Europe is well-known as one of the largest automobile market with major OEMs forming their base in this region. Linear low density polyethylene market demand will boost in the coming seven years as there is a significant upsurge in meat packaging, automobile, and telecommunication industries. Europe LLDPE industry is set to record a CAGR of 5% over the period of 2016-2024, subject to extensive consumption of this product in various end-use.
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North America LLDPE market is projected to be over USD 7.5 billion by 2024, owing its strong base of food & beverage products and pharmaceutical companies. The demand for the product is also witnessing an upswing due to rising infrastructural development and growing construction spending in U.S. North America linear low density polyethylene industry is estimated to register a CAGR of 5% over the period of 2016-2024.
Major linear low density polyethylene industry participants include Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemicals, Nova Chemicals Corporation, Exxon Mobil Corporation, and Chevron Phillips Chemical Company LLC.
Browse key industry insights spread across 110 pages with 85 market data tables & 11 charts & figures from the report, “Linear Low Density Polyethylene (LLDPE) Market Size by Application (Films, Injection Molding, Rotomolding), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
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