Linear Low Density Polyethylene
(LLDPE) Market Update, Analysis, Forecast, 2019 – 2024

Linear
low density polyethylene (LLDPE) market will grow at a moderate rate in the
forecast period. The growth being attributed to vigorous increase in
automotive, retail packaging, consumer goods and agriculture industries. In
Europe, the market will register CAGR above 5% by 2024, due to technological
advancements coupled with rapid industrialization.

Global packaging market is
probable to surpass USD 1 trillion in forecast period, being driven by the
paper & board sector. Revolution in processed food and beverage goods
packaging designs will open brighter growth prospects for the product in near
future.

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Growing application prospects
of LLDPE will propel the market at a substantial rate. For instance, it is
likely to witness significant demand as a substitute for few polyethylene
grades such as HDPE and LDPE, due to better chemical and physical properties of
the product. The polymer is widely used in mining, canal lining, packaging
industry, geomembrane liners and hazardous waste liners and thus has brighter
demand aspects in near future.

Owing to the wide range of
applications such as moisture resistance in the concrete structure, soil erosion
prevention in agriculture, etc. LLDPE films likely to contribute to 70% of the
application revenue share by 2024. The product is popularly used in food
packaging. By 2024, the global food packaging market is estimated to surpass
USD 310 billion which presents brighter growth aspects for the market in the
forecast period. LLDPE films are used for sacks and bags manufacturing as well,
due to their mechanical properties.

Rotomolded LLDPE is likely to
have revenues over USD 6.9 billion in 2024. The growth is attributed to its
benefits of being simpler and affordable compared to injection molding or blow
molding. Its applications in water treatment, packaging, agriculture,
automotive construction and furniture industries will propel the market in
coming years.

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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.

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