The growth of the market is governed by various factors such as the growing demand from the food and packaging industry
Market Size – USD 58.94 Billion in 2022, Market Growth – CAGR of 5.0%, Market Trends- The evolution of the latest eco-friendly and sustainable LLDPE
The Linear Low-Density Polyethylene (LLDPE) Market is expected to reach USD 85.95 Billion By 2028, according to a new report by Reports and Data. Linear low-density polyethylene (LLDPE) is a straight polymer (polyethylene) with a substantial amount of short branches. It is usually manufactured by copolymerization of ethylene with higher alpha-olefins such as hexane, butene, and octane. Gas-phase polymerization and solution polymerization are the two principal methods used in the production of LLDPE. These are extensively used in applications such as injection molding, films, and roto-molding, among others. These are utilized in end-user industries such as construction, packaging, marine, agriculture, automotive, housewares, and toys.
The market in the North America region accounts for the second largest share of 21.3% in 2018. Developing pharmaceutical and food & beverage sectors across this region will add to the growth of this market. Furthermore, the increasing living patterns and a well-established automotive base in the region will promote the food & beverage sector and automotive sectors, which will drive LLDPE market trends.
The Key players in the Linear Low-Density Polyethylene (LLDPE) Market include The Dow Chemical Company, Mitsui and Westlake, Exxon Mobil Corporation, INEOS Group AG, Chevron Phillips Chemical Company LLC, Saudi Basic Industries Corporation (SABIC), Borealis AG, Mitsubishi Chemicals, Nova Chemicals Corporation, LyondeBassells Industries N.V., and Braskem S.A.
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Further key findings from the report suggest
- The Linear Low-Density Polyethylene (LLDPE) Market is estimated to reach USD 78.72 Billion by 2026, at a CAGR of 5.0% during the forecast period.
- The application in films account for the largest share of 26.7% of the market in 2018.
- The gas phase process segment is anticipated to witness the highest CAGR of 5.3% during the forecast period.
- The buildings & construction end users is expected to witness the highest CAGR of 5.7% during the forecast period.
- Europe has been a prevailing automobile market globally with significant OEM and other automotive suppliers based in Germany, and Sweden, among others. The region is likely to observe the rise in telecommunication, meat packaging, electronics and automobile industries in the upcoming years.
- Europe is expected to observe a CAGR of 5.5% during the forecast period.
- The market in the Asia Pacific region is expected to witness the highest CAGR of 5.8% during the forecast period. Accelerated industrialization in the region due to growing electronics, automobiles, oil & natural gas, textiles, and production industries in developing economies are giving a boost to construction spending and will drive the market. Organized retailing and quickly growing e-commerce in Thailand, India, and Malaysia are extending the packaging sectors which in turn will boost consumption of the product further.
- For example, Braskem designed green PE from ethanol sugarcane, a renewable raw material. The green PE catches and fixes carbon dioxide from the atmosphere during its creation, thereby decreasing the discharge of GHG.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Process, End User, Application, and region:
Process Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
- Gas Phase
- Slurry Loop
- Solution Phase
End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
- Building and Construction
- Electrical and Electronics
Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
- Injection Molding
- Extrusion Moulding
Regional Outlook (Volume, Square Meters; and Revenue, USD Billion ; 2018-2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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