Flexible Packaging Is Fastest Growing Segment Fueling The Growth Of Low-Density Polyethylene Market

 

The global Low-Density Polyethylene Market is estimated to be valued at US$ 47.08 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Low-Density Polyethylene is a thermoplastic made from petroleum. It is used to make plastic shopping bags, plastic bottles, plastic films and wraps. LDPE has high flexibility, low strength and is used for applications requiring viscosity, softness and elasticity.

Market key trends:

One of the key trends in the Low-Density Polyethylene Market is the growing demand from flexible packaging. Flexible plastic packaging made using LDPE is lightweight, easy to seal and inexpensive. It is widely used for packaging food, beverages, personal and home care products. The increasing demand for flexible packaging from e-commerce and food and beverages industries is expected to drive the growth of the LDPE market over the forecast period.

Segment Analysis

The global low-density polyethylene market is segmented on the basis of type, application, and region. Based on type, the market is classified into autoclave method and tubular method. The tubular method segment dominated the global market in 2022 and is expected to continue its dominance during the forecast period. This is because the tubular method is a continuous process and is more cost-effective for producing low-density polyethylene at high volumes.

Key Takeaways

The global low-density polyethylene market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand for plastic packaging from various end-use industries like food & beverages, consumer goods, and personal care.

Regional analysis

Asia Pacific dominated the global market in 2022 and is expected to continue its dominance during the forecast period. This is attributed to strong growth in packaging and construction industries in emerging economies like China and India. Moreover, rapid urbanization and rising disposable incomes are augmenting the demand for LDPE in the region.

Key players

Key players operating in the low-density polyethylene market are Lyondell Basell Industries N.V, ExxonMobil Corporation, The Dow Chemical Company, Saudi Basic Industries Corporation, BASF-YPC Company Limited, Qatar Petrochemical Company Q.S.C, LG Chem Ltd., E.I. du Pont de Nemours and Company, Braskem S.A., and Formosa Plastics Corporation.

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