PUBLISHER: TechSci Research | PRODUCT CODE: 1180527
PUBLISHER: TechSci Research | PRODUCT CODE: 1180527
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Global Linear Low-Density Polyethylene Market is projected to grow at an impressive CAGR during the forecast period due to the increasing demand from Food & Beverages Industry. Total revenue in the Food & Drink segment is projected to reach USD 0.67 billion in 2022.
Linear low-density polyethylene is considered an effective alternative among other grades of Polyethylene in the packaging industry today owing to its higher bearing strength, tensile strength, puncture endurance capacity, and material elongation. Growth rates for 2020 were significantly affected by COVID-19 broadly for the Packaging and Construction Industry. Following a demand slump in 2020, Packaging Industry, as well as Construction Industry, has continued steady growth in 2021, triggering the development of the Global Linear Low-Density Polyethylene Market during the estimated and forecast period.
The food industry utilizes Linear Low-Density Polyethylene primarily for packaging purposes. It can hold goods without releasing dangerous chemicals. It is commonly used to preserve food which ensures quality & safety for an individual. Increased Demand for Linear Low-Density Polyethylene is witnessed across various fields of Application due to its distinct properties like High Tensile Strength that assists manufacturers in producing high-quality films used in the Food & Beverage Industry. According to the European Commission, "The E.U. boasts an important trade surplus in food and E.U. food specialties are well appreciated overseas. In the last ten years, E.U. food and drink exports have doubled, reaching over €90 Billion and contributing to a positive balance of almost €30 Billion". Additionally, the changing living standards are resulting in increased food and beverage consumption, essentially driving the Linear Low-Density Polyethylene Market.
The E-Commerce Packaging Industry has attracted significant consumer traction recently due to growing digitalization and evolving consumer lifestyle. This has been attributed to the rise in the consumption of LLDPE packaging material driving the growth of the Global Linear Low-Density Polyethylene Market during the forecast period. As per the data released by IAB (Interactive Advertising Bureau) Europe, "Retail Media in Europe is already an USD8.5 billion market and growing double-digit despite economic headwinds," which is indicative of growth during the forecast period.
Mitsui Chemicals aims to achieve carbon neutrality by 2050. In light of that, it has signed an MoU (Memorandum of Understanding) with a Singapore-based company Shell Eastern Petroleum (Pte) Ltd, to attain adequate production and supply of ethylene derived from solid wastes such as plastics. A subsidiary of Mitsui Chemicals, i.e., Prime Polymer Co., Ltd., shall commence production operations of chemically recycled Polyethylene of different types like Linear Low-Density Polyethylene.
Adopting Newer Technologies will help the industry efficiently manage production costs and supply chain ease. For instance, Hanwha Solutions has augmented Luptech T high-pressure Polyethylene Process Technology licensed by LyondellBasell Industries Holdings B.V. to expand their production capacity of multiple grades of HDPE, MDPE, LLDPE, etc.
Global Linear Low-Density Polyethylene Market is segmented based on Production Process, Application, End-User Industry, and Regional distribution. Based on the Production Process, the market is segmented into Solution Process, Slurry Process, and Gas Phase Process, By Application, the market is further segmented into Films, Roto Molding, Injection Molding, and Others. Based on the End-User Industry, the market is segmented into Agriculture, Electrical & Electronics, Packaging, Construction, and Others. The market analysis also studies the regional segmentation divided among the North American, European, Asia-Pacific, South American, and Middle East & African regions.
Saudi Basic Industries Corporation, LyondellBasell Industries Holdings B.V., Exxon Mobil Corporation, Formosa Plastics Corporation, China Petrochemical Corporation, Chevron Phillips Chemical Company LLC, Reliance Industries Limited, The Dow Chemicals Company, Borealis AG, and Ducor Petrochemicals B.V. are some of the major market players in Global Linear Low-Density Polyethylene Market.
In this report, Global Linear Low-Density Polyethylene Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Solution Process
Slurry Process
Gas-Phase Process
Films
Roto Molding
Injection Molding
Others
Agriculture
Electrical & Electronics
Packaging
Construction
Others
North America
Europe
Asia-Pacific
South America
Middle East and Africa
Company Profiles: Detailed analysis of the major companies present in Global Linear Low-Density Polyethylene Market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: