According to a report by Reports and Data, the Linear Low-Density Polyethylene (LLDPE) market is predicted to reach USD 85.95 billion by 2028. LLDPE is a polymer made of polyethylene with a significant amount of short branches, typically manufactured through copolymerization of ethylene with higher alpha-olefins such as hexane, butene, and octane. The market is extensively used in applications such as injection molding, films, and roto-molding and is utilized in various end-user industries such as construction, packaging, marine, agriculture, automotive, housewares, and toys.
The North American region accounts for the second-largest share of 21.3% in the market in 2018. The growth of the pharmaceutical and food & beverage sectors in the region will contribute to the growth of the LLDPE market. The increasing living standards and a well-established automotive base will promote the food & beverage and automotive sectors, thereby driving the market trends.
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Further key findings from the report include the estimation that the LLDPE market will reach USD 78.72 billion by 2026, with a CAGR of 5.0% during the forecast period. The market's largest share of 26.7% in 2018 is accounted for by the application in films. The gas phase process segment is expected to witness the highest CAGR of 5.3% during the forecast period, while the building & construction end-users are expected to witness the highest CAGR of 5.7% during the forecast period.
The market in Europe is expected to observe a CAGR of 5.5% during the forecast period, while the market in the Asia Pacific region is expected to witness the highest CAGR of 5.8%. Accelerated industrialization in the Asia Pacific region, due to growing electronics, automobiles, oil & natural gas, textiles, and production industries in developing economies, is giving a boost to construction spending and will drive the market.
Various players in the market are developing strategies to mark their presence in the industry, such as Braskem, who designed green PE from ethanol sugarcane, a renewable raw material. The key players in the 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.
The market is segmented on the basis of process, end-user, application, and region, with the gas phase, slurry loop, and solution phase being the process outlook. Packaging, building and construction, automotive, electrical and electronics, and others being the end-user outlook. Films, injection molding, rotomolding, extrusion molding, and others being the application outlook. Finally, the regional outlook covers North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Linear Low-Density Polyethylene (LLDPE) Market: Drive factors
The Linear Low-Density Polyethylene (LLDPE) market is expected to witness significant growth due to several driving factors. The increasing demand for LLDPE in applications such as injection molding, films, and roto-molding in end-user industries like construction, packaging, marine, agriculture, automotive, housewares, and toys is expected to drive the market. The growing pharmaceutical and food & beverage sectors in North America are also expected to add to the growth of this market. Furthermore, the well-established automotive base and increasing living patterns in the region are likely to promote the food & beverage and automotive sectors, thus driving the LLDPE market trends. The accelerated industrialization in the Asia Pacific region due to growing electronics, automobiles, oil & natural gas, textiles, and production industries in developing economies is also expected to boost the construction spending and drive the market. Finally, players in the market are developing strategies such as designing green PE from renewable raw materials to mark their presence in the industry.
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