Global Low Density Poly Ethylene LDPE Market Is Estimated To Witness High Growth Owing To Growing Demands From The Pharmaceutical Industry

Low Density Poly Ethylene LDPE Market

Overview:

LDPE is the most common type of polyethylene, and it is resistant to impact, moisture and offers good chemical resistance. It is used for plastic films and packaging to protect all kinds of products, LDPE can be found in a variety of household and industrial uses. This includes shopping bags, dry cleaning plastic covers and protective packaging for toys and other children's items. Recycled LDPE has many uses including in the manufacture of pipes and fittings, electrical wires, and cable jacketing and coating. It also is a useful material for manufacturing food and beverage containers. LDPE can be easily molded using injection molding equipment. Its amorphous and semi-crystalline properties give it an excellent balance of strength, toughness, dimensional stability and chemical resistance. It is an ideal material for a wide range of applications due to its high flexibility, ductility and low cost.

Market Dynamics:

Increasing adoption of inorganic growth strategies by key players are estimated to augment growth of the global low density poly ethylene LDPE market during the forecast period. For instance, SABIC and Exxonmobil have established a new startup of Gulf Coast Growth Ventures in January 2022. They have a manufacturing facility in San Patricio County, Texas and this facility will have two polyethylene units having a production capacity of almost 1.3 million metric tons per year. Moreover, growing issues associated with linear low density polyethylene are anticipated to restrain growth of the global low density poly ethylene market during the forecast period.

Impact of COVID-19:

The pandemic affected the GDP and the global economy as consumer spending patterns changed globally. The pandemic had a mixed impact on the growth of the global low density poly ethylene LDPE market, as the major key players of linear low density polyethylene are automotive, packaging, food and beverages sector. These were facing challenges during the pandemic and most of them were temporarily shut down. This had a negative impact on the growth of the market. However, the market witness huge demand from the healthcare industry, for manufacturing personal protective equipment (PPE). This led to increasing demand. Thus, the global low density poly ethylene LDPE market witnessed growth during the pandemic.

Key Takeaways:

The global Low Density Poly Ethylene LDPE Market is projected to surpass US$ 60.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.6% during the forecast period (2020 to 2027). Due to increasing acquisitions by key players. For instance, a plastics recycling platform Repeats Group BV acquired Polimero Srl, in September 2022. This acquisition will enables the expansion of the Repeats Group in the Italian market.

North America is anticipated to witness robust growth in the global low density poly ethylene arket during the forecast period, due to growing well-established automotive, pharmaceutical and food and beverage industry.

Key players active in the global low density poly ethylene market are Mitsui Chemicals Inc., Exxon Mobil Corporation, Chevron Phillips Chemical Company, LyondellBasell Industries Holdings BV, DuPont, Borealis AG, LG Chem, Dow, Reliance Industries Limited, China Petrochemical Corporation, BP p.l.c, Petronas Chemicals Group Berhad, Hanwha Group, Mitsui Chemicals Inc., SABIC, Borouge, Sasol, and LyondellBasell Industries Holdings B.V.