LDPE Packaging Market: An Overview
Low Density Polyethylene (LDPE) or plastic is the most used and preferred material for the packaging because of its various features such as lightweight, moisture resistance, durability, flexibility, ease in transport and ease in handling. Therefore, the LDPE packaging market is expected to grow substantially during the forecast period. The major share of the LDPE packaging market is contributed by the food and beverage industry as it is non-reactive to the product in the packaging and helps to increase the shelf life of the product by not keeping it isolated from the ambient conditions. The LDPE packaging market is also expected to grow due to the rise in agriculture business. The LDPE is made from a monomer of Polyethylene and mostly used in products such as bottles, pouches, bags, sacks and sachets.
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LDPE Packaging Market: Dynamics
The factors which drive the LDPE packaging market are properties such as lightweight, convenience, moisture resistance, inert and non0reactive to the product sample inside the packaging and flexibility.
The factors which restrain the LDPE packaging market are sustainability as many manufacturers are shifting towards the usage of paper to reduce the carbon footprint to the possible extent, availability of alternatives such as bio-plastics or recyclable plastics and paper which are reusable and reduce the waste generation.
LDPE Packaging Market: Segmentation
The LDPE Packaging market is segmented on the basis of type, type of product, technology, material type and end user.
The LDPE Packaging market is segmented on the basis of type as
- Shrink films
- Stretch films
The LDPE Packaging market is segmented on the basis of the type of product as
- Bags and Sacks
- Closures and caps
The LDPE Packaging market is segmented on the basis of technology as
- Cast film extrusion
- Blown film extrusion
The LDPE Packaging market is segmented on the basis of end user industry as
- Electricals and Electronics
- Healthcare and Pharmaceutical
- Food and Beverage
- Homecare, personal care and Cosmetics
- Transportation and Logistics
- Consumer goods
LDPE Packaging Market: Regional Outlook
On a global scale, the LDPE Packaging market is dominated by Asia Pacific region due to the presence of countries like China, Japan, and India and expected to remain dominated in terms of value as well as volume during the forecast period due to increase in demand of food & beverage products and a number of consumers. Europe is the second largest share contributor in the LDPE Packaging market due to a rise in retail and e-commerce business in this particular region.
North America is expected to have steady growth in the LDPE Packaging market during the forecast period. Latin America, Middle East & Africa and Oceania are the regions that are expected to grow at a moderate rate in the LDPE Packaging market during the forecast period due to emerging economies and an increase in investment over the last few years.
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LDPE Packaging Market: Key Players
Some of the key players in LDPE Packaging market are Amcor Limited, IPS packaging, Bemis Company Inc, Berry Global Inc, Sealed Air Corporation, and Hipac Packaging Solutions, Exxon Mobil Corporation, Dow Chemicals Inc, Daibochi Plastic, LG Chem, Chevron Phillips Chemical Company, Huhtamaki Group, Sealed Air Corporation, Borealis AG, Braskem S.A., China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corp., ExxonMobil Corporation, Lyondell Basell Industries N.V., National Petrochemical Company, Qatar Petrochemical Company Ltd., Saudi Basic Industries Corp., Hipac Packaging Solutions, Harwal Group of Companies, Strobel GmbH, R.V. Evans Company, Blueridge Films, Inc., Coveris, Daibochi Plastic, Flextrus, Hipac Packaging Solutions, Interplast, Nampak, Serioplast, Silgan, and McNeely Plastics.
LDPE Packaging Market: Impact of COVID-19
The LDPE Packaging market is expected to get affected by the outbreak of COVID-19 pandemic to a great extent. As the major portion of LDPE Packaging market is contributing by the small and large scale of food & beverage, consumer goods, transportation & Logistics business and many developed, as well as developing countries, has halted the production to avoid the community transmission of COVID-19, it is expected that, the LDPE Packaging market growth curve experience a sudden decrease during the course of this pandemic. However, once the market becomes functional again, it is expected that the LDPE Packaging market grows gradually during the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.