LOW-DENSITY POLYETHYLENE MARKET ANALYSIS

The Low Density Polyethylene (LDPE) Market in 2022 valued at around US$ 44.5 Billion and is anticipated to reach US$ 69.8 Billion by 2030. The Global Market is expected to witness a considerable CAGR of 5.8% during the period between 2023 and 2030.

Low Density Polyethylene (LDPE) Market: Growth Drivers

Increasing usage of LDPE foams in the sports industry

The demand for sports equipment/products has been increasing rapidly worldwide due to rising urbanization and growth in disposable income of consumers. Low Density Polyethylene (LDPE) foams are being increasingly employed in the sports industry, as they possess better physical properties such as high elasticity. They also provide protection against repeated shock from relatively high stresses. The low density polyethylene (LDPE) market has been expanding significantly, owing to its promising features such as water resistance, chemical resistance, compressive strength, energy absorbance, buoyancy, and cushioning. For instance, in 2021, Zotefoams presented new LDPE foams with 30% recycled content at K and Low Density polyethylene (LDPE) grades incorporating 30% post-industrial waste that comply with emerging requirements for recycled content in product protection applications.

Figure 1. Global Low Density Poly Ethylene Market, Revenue Share %, By Region, 2022 

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Increasing demand from a separate region's construction industry

The global construction industry is the world's largest consumer of raw materials. Rising construction activities worldwide for boosting development is driving the low density polyethylene market growth. The Europe construction industry is growing at a rapid pace due to low-interest rates, strong economic growth. For instance, in 2021, Artisan Real Estate, a real estate developer, announced its new US$ 78.7 Billion residential development plan named Kristal Place in the U.K. The Africa construction industry has also witnessed rapid growth. For instance, Kenya has embarked on the construction of a US$14.5 billion technology in 2022 city in Machakos County in a bid to appeal to technology geniuses and financiers to boost its economic growth.

Low Density Polyethylene (LDPE) Market: Restraints

Alternative plastic ban may hinder the market growth

The increasing development of cost-effective substitutes including Linear Low-density Polyethylene (LLDPE), Polyethylene Terephthalate (PET), Acrylonitrile Butadiene Styrene (ABS), and High-density Polyethylene (HDPE) is hampering the market growth. On the other hand, waste plastic bags pollute the land and water and have become a threat to the life of animals living on the earth as well as in water. Due to these factors, plastic ban took effect worldwide, thus prohibiting the country from using single-use plastic in any factor, which might restraint the low-density polyethylene market growth.

Low Density Polyethylene (LDPE) Market: Market Segmentation

Regionally, Asia Pacific dominated the low density poly ethylene market in 2022, reporting 36% of the market share in terms of revenue, followed by Europe and North America.

Low Density Polyethylene (LDPE) Market: By Application

On the basis of application, films & sheets segment dominated the low density poly ethylene market in 2022, reporting 68% of the market share in terms of revenue, followed by the others and extrusion coating segments.

Figure 2. Global Low Density Polyethylene Market, Revenue Share %, By Application, 2022 

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Low Density Polyethylene Market LDPE: Recent Development

In November 2022, Shell Global commenced operations in Pennsylvania with a polyethylene capacity of 1.6 Billion tons per year.

In January 2022, ExxonMobil and SABIC developed Gulf Coast Growth Ventures, a new company with a manufacturing plant in U.S. This plant would include two polyethylene units capable of producing up to 1.3 Billion metric tons of polyethylene per year.

On June 2020, Abriso NV purchased Air pack Spa, an Italy-based company that specializes in the extrusion of polyethylene (PE) and polypropylene (PP) materials for the packaging and construction applications.

In September 2020, Dow announced the creation of a new resin composed of 70% recycled plastic. This new resin is made of Low-density Polyethylene (LDPE) with recycled plastic shrink film.

Low Density Polyethylene (LDPE) Market: Key Companies

The key companies operating in the market are Lyondell Basell Industries N.V, Exxon Mobil Corporation, The Dow Chemical Company, Saudi Basic Industries Corporation, BASF-YPC Company limited, Qatar petrochemical company Q.S.C, LG chem ltd, E.I Du Pont De Nemours and company, Braskem S.A, and Formosa Plastic Corporation.

*Definition: Low-density Polyethylene (LDPE) is a widely-used high clarity and chemically inert polymer owing to its flexibility, barrier properties, good impact strength, and stress crack resistance. It is also one of the most economic polymers available in the market.